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Old February 11th, 2008, 06:34 AM   #521
madtony8k
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I don't see how there is a question of whether or not this tower SHOULD get built. It says in the thread title that this is approved. Since when does 'approved' mean 'may or may not get built'? or am i missing something here?
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Old February 11th, 2008, 06:41 AM   #522
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Quote:
Originally Posted by madtony8k View Post
I don't see how there is a question of whether or not this tower SHOULD get built. It says in the thread title that this is approved. Since when does 'approved' mean 'may or may not get built'? or am i missing something here?
Approved means that the design has been accepted and that the city will allow it to be built. The problem right now is that not enough units have been sold to ensure no financial problems.
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Old February 11th, 2008, 06:47 AM   #523
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thanks jlh630... it will be really nice to have something overtake the other buildings in nashville. most of the tall buildings are around the same height as each other, and there are a lot of them. It would be nice to have a building that really stands out. A tall building right in the middle would fit nicely. nashville can definitely support a tower this tall.
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Old February 12th, 2008, 03:27 AM   #524
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Are there any official updates?
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Old February 12th, 2008, 03:37 AM   #525
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Well, if the tower does not get built, then maybe when I get rich, I will purchase the designs and the land and build it when there is a better market.
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Old February 12th, 2008, 05:29 AM   #526
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Are there any official updates?
Last official word is that they are still in the process of selling enough units. I pass by the site about once a week and it's still an occupied parking lot. I would expect we will be hearing something (good or bad) within the next month or so.
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Old February 12th, 2008, 07:15 AM   #527
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27 pages of nothing,,,aww,,,c;mon...that sux...no pix??
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Old February 12th, 2008, 05:09 PM   #528
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27 pages of nothing,,,aww,,,c;mon...that sux...no pix??
there are no pix cuz its not still 100% percent certain that the tower is going to be built
as you can read on the title, it says approved not u/c
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Old February 14th, 2008, 11:02 PM   #529
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Quote:
Originally Posted by madtony8k View Post
I don't see how there is a question of whether or not this tower SHOULD get built. It says in the thread title that this is approved. Since when does 'approved' mean 'may or may not get built'? or am i missing something here?
My understanding could be off, but until construction starts a lot of things could happen.

Even though the building gets approved doesn't mean it will be built. It just means the city approved the building.

If the market doesn't respond favorably to the proposal than the tower won't be built.
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Old February 14th, 2008, 11:35 PM   #530
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Quote:
Originally Posted by jlh630 View Post
Approved means that the design has been accepted and that the city will allow it to be built. The problem right now is that not enough units have been sold to ensure no financial problems.
House price crash bites nasty
However I hope this project will be realised in next economic boom!
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Old February 15th, 2008, 12:29 AM   #531
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I really hope it gets built. I think it will be the crown jewel for Nashville's skyline! I know it feels to have such a wonderful project dangling in the air because of financial issues... For us Chicagoans it was the Chicago Spire. We had 2 developers and 4 redesigns talk for the building talk about scary times.
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Old February 15th, 2008, 01:48 PM   #532
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well, the good news is that even if this tower doesn't work out, he has a smaller tower proposed as well. so, for nashville, it's still a win-win.
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Old February 15th, 2008, 09:45 PM   #533
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well, the good news is that even if this tower doesn't work out, he has a smaller tower proposed as well. so, for nashville, it's still a win-win.
How small?
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Old February 16th, 2008, 03:14 AM   #534
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This thread should be shut down. Nothing is happening... NO NEWS! NOTHING!
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Old February 16th, 2008, 03:37 AM   #535
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I tend to agree, at least until some actual news/progress is certain. I keep coming on here expecting albeit even hoping it's started. Imagine my increasing disappointment. Here's hoping it starts soon. I would really hate to read another 27 pages (?) of the same thing.
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Old February 16th, 2008, 07:07 AM   #536
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Can anyone please take the picture of the site of Signature Tower to see if anything happen to that site?
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Old February 16th, 2008, 07:27 AM   #537
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Quote:
Originally Posted by jlh630 View Post
Last official word is that they are still in the process of selling enough units. I pass by the site about once a week and it's still an occupied parking lot. I would expect we will be hearing something (good or bad) within the next month or so.
this thread was started in April of 2006 and it's still a parking lot? Maybe Nashville can't support such a building if after 2 years they haven't sold enough units to make the project feasible. Sad indeed
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Old February 17th, 2008, 10:28 PM   #538
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What I don't understand is why don't they just chop off 20 floors and proceed with the project. It will still be the tallest in Nashville and the State of Tennessee, although not a "supertall" any more. More importantly, it will be more profitable and less of a risk for the investors.
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Old February 18th, 2008, 06:25 PM   #539
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What I don't understand is why don't they just chop off 20 floors and proceed with the project. It will still be the tallest in Nashville and the State of Tennessee, although not a "supertall" any more. More importantly, it will be more profitable and less of a risk for the investors.
Actually this question has been asked many times during this long, long, thread. Here is the general opinion and I believe it to be true.

The building has over 100 solid contracts with many being on the penthouse and upper floors. Because these units were sold as part of a landmark 1,000+ foot tower, any changes in height (other than possibly the pinnacle) will dramatically decrease the uniqueness of the upper floor units and therefore reduce their value. This would also eliminate all sales above whatever floor height he changed to. Even the lower floors would be worth less because the buiding itself is no longer unique. This would void the contracts he has.

In short, the building cannot be changed in height without starting over with contracts. It's either all or nothing. That's why the rumblings about change within the Giaratanna camp aren't related to height but are always centered on redistribution of the full 70 floors or changing something cosmetic like the crown. Example is the recent rumor of increasing the hotel portion which would only affect the very lowest floors. Any sales on those lowest floors would likely only cause them to be bumped up to the next available floor. I'm not sure if that is even allowed or not but is obviously being considered.
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Old February 18th, 2008, 07:26 PM   #540
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They lopped 100-150 feet off of the height of Trump Toronto (it's now just over 900' or so)... and the thing is finally under construction. The excuse they made was a smoke-screen (elevator issues for such a tiny site), but lethargic sales at those prices was the most likely reason. Nonetheless, the builder must have figured out how to placate those purchasers who paid top dollar to own at those rarified elevations.
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