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Old August 9th, 2007, 11:20 PM   #21
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^I would be stunned if they did that. Only because they have invested a great deal of money advertising this project with the current design. I think it would be a blow to their credibility if they let this one go by. I honestly think they are just waiting out the market to be one of the first of the next wave of condos. Also, other rumors state that they might add office space to the building to cut back on some of the required units they need to sell. The rumored super tall has been confirmed to not happen until at least 2010. Vacancy rates for office space right off of Nicollet is essentially 0, meaning any tower put in here featuring office space will surely sell quickly. So what I am expecting:

Condos that have already been sold will be in the tower along with additional condos. I would expect half the tower to be condos. If a hotel is found, which I think they are trying to find, I think that will take up about a quarter of the tower. The rest I think will make up office space and ground level retail. That is my personal take on what they plan on doing. They already have enough condos sold to have filled up 50% of the condo section. All they would need is either a major tenant for the office space or a hotel to sign on...and I think they would be able to start construction then. The only problem is a tower like this, you don't want a cheap hotel to be the tenant as this is a signature tower in the making. If they do find both an office tenant and a hotel and still plan on having condos in the building...they would most likely need to increase the overall height in my opinion.

Several analysts on CNN have said they expect the housing market to turn around toward the beginning of 2009. I wouldn't expect any major news until the middle to end of 2008. Yes, it is a wait...but for a tower this beautiful, I will wait gladly.
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Old August 11th, 2007, 02:02 AM   #22
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me too.
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Old August 11th, 2007, 08:27 PM   #23
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Well hotels and offices have different needs than residents do, no? Thus a redesign... I'm not saying they're going to redo the entire tower, but if they decide to change the use around that will take time.
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Old August 12th, 2007, 01:43 AM   #24
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Quote:
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Well hotels and offices have different needs than residents do, no? Thus a redesign... I'm not saying they're going to redo the entire tower, but if they decide to change the use around that will take time.
Office space do not need balconies, your right. Hotels can have balconies, although they aren't nearly as common anymore it seems. I would expect they would just remove balconies where they are not needed. The "arc" running up the side of the building and creating that fin on the top are basically the feature you won't see change in my opinion. In fact if they removed some of the balconies I think it would look better.
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Old September 4th, 2007, 07:01 PM   #25
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Hunt-Opus Favors $200M MXD Plan Over Condos

By Robert Carr
http://www.globest.com/news/984_984/.../163704-1.html

MINNEAPOLIS-After scrapping plans for the tallest condominium tower in the city, Hunt Associates LLC now plans to create a mixed-use building on the site at 1001 Nicollet Mall. The company had planned on building a 56-story, 350-unit condo tower called the Nicollet, but as the market died down, the plans have been changed, with an Opus partnership, to a 50-story building that will have offices, a hotel and 100 condos, for a cost north of $200 million.

Dan Hunt, president of the self-named company, tells GlobeSt.com that the high-rise residential building, which was to offer 24-hour, white-glove entry attendant service, terraced homes and a heated, multi-story garage, was thought up in late 2005. “However, the condo market has cooled significantly,” he says. “We had purchase agreements for 70 of the condos [including three of the $3.6 million penthouse units], but we never got above 70.”

Now, his firm has partnered with Opus Corp. to build a tower with roughly 50 floors. The complex will have 500,000 sf of office space, a 200-room hotel and 100 condos, with four floors of underground parking, Hunt says. The Nicollet name remains, but it could change, he says. “The schematics of the building have been done, and the office brokers are now out talking to prospective tenants about the space. The next step is to get letters of intent, and finalize the drawings.”

He says he’s not worried about finding office users, that the market is substantially better than it was a couple years ago, and the fact that the property is right across from the Target Corp. headquarters. “There’s no other plans on the drawing board for this much space in the area, and people will want to be close to Target, or in a newer building,” Hunt says.

Hotel companies are also being talked to, though that stage is still in its infancy. “It’s a great site for a hotel,” he says. “There’s some newer hotels now, and new condo buildings out there, but when we go to open the sales center for our condos in March, we should be in much better shape due to absorption.” Hunt’s company specializes in urban infill projects in the Twin Cities and the first-ring suburbs, having developed more than 1,000 condominium units and 55,000 sf of commercial space, with projects such as the $100-million Village at St. Anthony Falls and the 348-unit condo building RiverStation, both in Minneapolis.
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Old September 9th, 2007, 07:40 PM   #26
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6 story drop in height is something I'll take to get this thing moving forward.
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Old September 20th, 2007, 03:15 AM   #27
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With a reduction of condos by replacing many of them with office floors, the building could still easily surpass the original height of 656 feet. I just hope it's not 775 feet! That would flat-top the skyline!
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Old January 3rd, 2008, 08:52 PM   #28
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???

Any news?
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Old March 15th, 2008, 04:15 AM   #29
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Any news on this tower?
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Old March 17th, 2008, 11:03 PM   #30
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Well, to fuel the speculation fire:

http://twincities.bizjournals.com/tw...7/story11.html


Basically a popular restaurant has been asked to relocate because their space might be needed for construction.
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Old March 18th, 2008, 06:53 AM   #31
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Hmm ...
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Old April 1st, 2008, 06:58 AM   #32
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Quote:
Originally Posted by vgmLiquid View Post
Well, to fuel the speculation fire:

http://twincities.bizjournals.com/tw...7/story11.html


Basically a popular restaurant has been asked to relocate because their space might be needed for construction.
That doesn't tell us too much, but at least the project isn't dead.
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Old May 29th, 2008, 06:04 PM   #33
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Opus has withdrawn from the Nicollet project. It isn't officially buried...but this pretty much means the coffin is being lowered into the grave.

http://twincities.bizjournals.com/tw...6/daily23.html

Most of the attention of Minnescraper is either on one of the big three proposals for downtown St Paul (Wabasha Tower, Penfield, or Jail Site Plan) or it is over on the 10th and Hennepin as a 30 story apartment building along with a grocery store are planned there one one block and on another block a "significant office tower" which a few people are convinced it will be the rumored super tall. I think there are about 3 sites now in downtown Minneapolis where a super tall has been rumored. Hopefully one of the sites actually will spawn a super tall.

The site of the Nicollet is to good to pass by though, so I'd expect something significant to be built here sooner rather than later. It just won't be called the Nicollet.
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Old May 30th, 2008, 01:35 AM   #34
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We need to keep this thread going like the Signature Tower in Nashville. Refuse to give up and hold on to every glimmer of sustainability.

NEVER GIVE UP!!

Nicollet will rise!
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Old May 30th, 2008, 08:10 AM   #35
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So my favorite record store died for nothing.
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Old December 1st, 2008, 05:43 AM   #36
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Quote:
Originally Posted by Somnifor View Post
So my favorite record store died for nothing.
p. much.


project is dead in the water.


http://www.startribune.com/business/19338929.html
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Old February 12th, 2009, 09:00 AM   #37
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Truth be told, I'm glad this building didn't go up. When I first saw the plans I thought it was ok, the curve was the only thing I liked about it. Then I learned that it would block the view of the IDS tower from the south. Minneapolis' skyline is so perfectly laid out from nearly every angle. To me, the building seemed so out of place in the skyline. Hopefully something that better compliments the existing skyline replaces it.
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Old February 14th, 2009, 11:54 PM   #38
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I wish Indy would have a tower like this one. Liked it alot. Do these plans just get scrapped, or do the architects save them for another future project?
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