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Old August 30th, 2007, 07:08 AM   #361
artistjhood
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Tonight's FOX17 News is No New News

All day long, our FOX 17 news touted a story about the tower. They teased with a headline of "No Signature?" When it aired about 10:10 CST, the story was basically a rehash of everything that has already been said about this project. An interview with the developer said he didn't want to give a construction start date because then he would be held to it. He basically said that the split with the contractor, the housing market woes and failure to have 65% of the building costs already covered by sales had slowed the project. He urged buyers to step up and make this thing happen. Fox17 said the video of the interview was available on their website but I yet to find it.

I drive by the site often and will be keeping every possible appendage crossed that this tower will break ground.
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Old August 30th, 2007, 03:23 PM   #362
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Wow, what a wonderful building! Here's hoping it gets built soon!
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Old September 9th, 2007, 06:32 PM   #363
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this tower is so impressive. I do hope it is going to get built.
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Old September 9th, 2007, 07:09 PM   #364
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Quote:
Originally Posted by artistjhood View Post
All day long, our FOX 17 news touted a story about the tower. They teased with a headline of "No Signature?" When it aired about 10:10 CST, the story was basically a rehash of everything that has already been said about this project. An interview with the developer said he didn't want to give a construction start date because then he would be held to it. He basically said that the split with the contractor, the housing market woes and failure to have 65% of the building costs already covered by sales had slowed the project. He urged buyers to step up and make this thing happen. Fox17 said the video of the interview was available on their website but I yet to find it.

I drive by the site often and will be keeping every possible appendage crossed that this tower will break ground.
Isn't 65% enough to get bank financing? I get the gnawing feeling that this project may be scaled back from it's original height.
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Old September 9th, 2007, 10:09 PM   #365
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I'd rather have it be scrapped entirely rather than scaled back. It would become one of the biggest "What-ifs" in the interior US.
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Old September 10th, 2007, 01:37 AM   #366
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This is all I was able to find using google news, from Aug 30.

Only 100 units firm

With lending markets swooning, developer Tony Giarratana's investment bank advisor won't be looking for construction loans again on Signature Tower until October.

Chicago-based Jones Lang LaSalle is taking a little break from raising money for the project until the dismal financing environment improves.

“It’s as bad as it’s been for decades,” Giarratana said, adding that good quality projects can still get funding.

He stressed that it's not necessary to hit capital markets, immediately. He had hoped to close on the financing June 30, to begin construction in July, but ran into a widely reported snag with his general contractor — plus, sales were short of his goal.

Giarratana said he now has 100 hard sales contracts and the goal is to secure 200 of the 435 planned units. He’s looking toward October for a possible construction start date.

He officially parted ways today with Turner Construction Co., after unsuccessful attempts to bridge a $4.5 million gap between the budget and Turner’s proposed construction price. Giarratana wouldn’t discuss the specifics. There is talk in some circles that the gap was actually wider.
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Old September 10th, 2007, 02:10 AM   #367
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Quote:
Originally Posted by NapHsu4922 View Post
Model
I know it's tall, but it's kind of neat it looks short -- it seems placable (place-able) -- the business woman's hilarious-looking
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Old September 17th, 2007, 07:50 PM   #368
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Is there anything new on this project or are we just waiting until October? I heard the team was preparing a new ad campaign...
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Old September 17th, 2007, 07:51 PM   #369
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October? Well, I like the tower, so nice!
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Old September 18th, 2007, 12:24 AM   #370
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i passed by the tower site today on my way to the downtown library, they have taken the signage down, and it is a normal old looking parking lot once again. anyone know why they took the signage down?
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Old September 18th, 2007, 12:53 AM   #371
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Uh oh...that doesn't sound good.
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Old September 18th, 2007, 06:37 AM   #372
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I am really glad they chose this design, it looks like an old Manhattan Skyscraper. It looks to be about the same size as the Chrysler building.
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Old September 18th, 2007, 08:00 AM   #373
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bugger, doesnt sound too good .
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Old September 18th, 2007, 09:35 PM   #374
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hopefully that doesn't mean something bad
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Old September 19th, 2007, 01:30 AM   #375
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Shirt. Unfortunately I'd never really expected this building to become a reality, now it seems that it's fate is sealed though.
Maybe for another time.
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Old September 19th, 2007, 03:11 AM   #376
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Maybe the feds cutting the rates will help
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Old September 19th, 2007, 03:14 AM   #377
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Is like a vintage tower.
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Old September 19th, 2007, 09:00 PM   #378
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The signage is indeed down. I feel a bit like I just lost my favorite puppy. There are cranes all over Nashville putting up new Loft/Condo projects so I have to wonder if there was glut of units on the market in downtown all at once. I hope the rate cut yesterday will have a positive impact and that this beauty's fate isn't already sealed.
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Old September 24th, 2007, 02:32 AM   #379
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Ok so I'm trying to figure out what you guys are smoking because I just drove by the site a few minutes ago and the signage isn't down. It's still the same parking lot it was a month ago. I don't recall them ever temporarily taking it down either unless it all happened within a few hours. In fact as I was driving by a few days ago they had a new sign with balloons out on the sidewalk advertising the sales center.
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Old September 24th, 2007, 08:33 PM   #380
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Yep. The signs were never down (unless they were temporarily taken down then quickly put up again). It was all just internet rumors. As I posted on SSP, I'm glad news on this project have slowed and everything is hush on this project. There are so many other incredibly altering projects going on around Nashville that have been ignored because of all the mere speculation about Signature. When news develops on this tower, positive or negative, we'll certainly hear about it in print or television.
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