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Old December 8th, 2008, 05:13 PM   #121
madtony26.2
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My blog about CentrePointe has progressed some. The articles in the blog cover about the first month of developments.

Here's the blog.

I am still catching up to the present on the blog, and after I do, I will begin posting construction updates.
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Old January 21st, 2009, 03:26 AM   #122
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Height: 550ft !!!!
A new presentation full of renders and floor plans.

http://www.cptlex.com/pdf/CPT-2008-1...ionPackage.pdf

A close look at the last two pages of the presentation reveals a blurry "548" and "550" for the top two measurements of the building.
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Old January 28th, 2009, 06:29 PM   #123
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Update: Thread title height has been changed to 550 ft.

This must be one of the tallest 35-story buildings out there.
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Old February 1st, 2009, 08:30 PM   #124
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confirmed! 550 ft is mentioned as the height..
http://www.cptlex.com/overview.htm

also, the FAQ section claims CentrePointe will be the tallest building in Ky at 550 feet.

Now, all we need is a construction timeline!
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Old February 1st, 2009, 08:35 PM   #125
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I don't understand how this building is considered "U/C" when all that's been done is site preparation yet there's major construction going on with louisville's new arena and it still considered "prep"?
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Old February 2nd, 2009, 10:30 AM   #126
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Wow, i really like the style.
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Old March 1st, 2009, 05:57 AM   #127
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Quote:
Originally Posted by madtony26.2 View Post
Height: 550ft !!!!
A new presentation full of renders and floor plans.

http://www.cptlex.com/pdf/CPT-2008-1...ionPackage.pdf

A close look at the last two pages of the presentation reveals a blurry "548" and "550" for the top two measurements of the building.
Nice, thanks for the link!
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Old March 1st, 2009, 06:27 PM   #128
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Some pretty good info about the delay, and some of their goals about completing the project.

CentrePointe progress awaits permit
By Beverly Fortune - [email protected]

All's quiet on the Centre Pointe site on West Main Street as the construction company waits to receive a lane closure permit from the local district office of the highway department.

Bovis Lend Lease, in Columbus, Ohio, submitted a request for lane closings on West Main Street and Vine Street with the state highway department, said Kelly Baker, branch manager for the traffic permit section District office 7.

Normally, it takes between two weeks and a month to receive a permit. Baker expects to get back with the construction company early next week. He said Bovis will be asked to revise its plans for closing two existing left-turn lanes. No through lanes will be closed.


George Keppler, project executive for Bovis, in a letter to developer Dudley Webb, said after the permit is granted it will take about four weeks to obtain needed barriers and signs.

Keppler added in an italicized paragraph, "It is important to note that construction of the Centrepointe Project is NOT allowed to commence until receipt of the Approved Lane Closure Permit."

On Friday, Webb said he was not frustrated by the delay. "There are about 20 different things going on here — some of which are very exciting, relating to tenants, reconfiguration of the ground level to accommodate a couple of great tenants."

"The devil's in the details on these things," he said. "I know everybody's anxious to see something start coming out of the ground, but it just takes time."

Whether the shell of the tower can be completed in time for the 2010 FEI Alltech World Equestrian Games, as Webb stated in January, is in doubt. Webb does not want the CentrePointe to be an active construction site during the Games. "We don't want this thing to be unsightly," he said. "We promised that before, and that is still our intent."

But Webb added, "If we don't get started soon, there's not much we can do."

If work starts by late spring, "We're still on schedule," he said. "But if it drags on into the summer, it could change things. Right now, we're OK."

As part of the highway permitting process, Bovis will be required to put up two bonds, one for $10,000, another for $100,000, Baker said.

The bonds are, in essence, insurance until work on the 35-story high-rise is completed. If correct signs are not erected, or state rights-of-way are damaged, Baker said, "We can draw on the bonds."

When construction is completed to the satisfaction of the highway department, the money will be refunded.

Because time is of the essence, the highway department agreed to focus first on the lane closings, "just to get them going," Baker said. But Bovis will be required to provide information on sidewalks, curb design, driveway entrances, landscaping and any other improvements on the state right-of-way.

"Please note," Keppler said in his letter, "costs associated with executing the lane closure plan are in excess of $200,000."

Plans for the 35-story CentrePointe include 91 condominiums at an average price of more than $1 million and a 250-room J.W. Marriott luxury hotel.

Marriott's chief financial officer, Arne Sorenson said recently at an earnings call announcing a $10 million fourth-quarter loss, "The brakes on new construction are being and will be applied more dramatically than ever before. This is not likely to change for some time."

There is more risk for projects that are financed but not under construction yet, than for those that are under construction, Sorenson said. At a greater risk are projects that have paid a Marriott franchise fee and have signed a contract with the hotel chain, but have not received financing or started construction.

Webb wants both a Marriott franchise to use the Marriott name, and a management agreement with Marriott for them to run the hotel. The terms have been negotiated, but a contract has not been signed, he said.

The agreement is subject to Marriott's final approval of CentrePointe plans, including the hotel, Webb said. "They're not going to sign anything until they see the final plans."

A meeting between Webb, his architects and Marriott representatives is scheduled in Atlanta next week.
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Old March 1st, 2009, 06:59 PM   #129
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Quote:
Originally Posted by Msradell View Post
I don't understand how this building is considered "U/C" when all that's been done is site preparation yet there's major construction going on with louisville's new arena and it still considered "prep"?
Its because the mods will rename the title however a forumer asks them to change it. Because they dont have time to verify every claim.

This should technically be site prep while the digging is going down. As soon as the foundation work starts to go back upward it will be U/C.
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Old March 1st, 2009, 08:47 PM   #130
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Quote:
Originally Posted by Ian604 View Post
Its because the mods will rename the title however a forumer asks them to change it. Because they dont have time to verify every claim.

This should technically be site prep while the digging is going down. As soon as the foundation work starts to go back upward it will be U/C.
That was my thought also but the mods have been asked to change the new arena in Louisville to U/C several times and haven't yet there are four tower cranes in operation and one floor of the parking garage well underway. It that doesn't define U/C I'm not sure what does!
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Old March 1st, 2009, 09:04 PM   #131
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Just keeping asking. Ask different ones too. I think some of them might get a bit overwhelmed.
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Old April 4th, 2009, 09:33 PM   #132
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...Still waiting on the permits mentioned four posts back before construction can begin...
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Old April 10th, 2009, 12:35 AM   #133
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The permits aren't the current big issue any more. Now it's the death of a key financer. The attorney's are trying to get the funding that the investor promised before his(her?) death.

Quote:
Originally Posted by peyton View Post
Centrepointe attorney says project delayed by death of financier
Letter sent to mayor, council

By Tom Martin

Business Lexington

Lexington, Kentucky -- (April 8, 2009) -- In a response to rumors that financing of their Centre Pointe project had collapsed as a casualty of the global economic meltdown, The Webb Companies asked the project's trustee to send a letter to Mayor Jim Newberry and members of the Urban County Council, explaining where matters stand.

The letter from Los Angeles attorney Richard Crane begins "Obviously you and the citizens of Lexington have an intense and ongoing interest in the status of the "Centrepointe" mixed-use development proposed for downtown Lexington. Fully appreciating its economic significance and impact on your community, at the request of several principals involved, this letter is to provide a status report on the project."

Crane goes on to state that his firm, K&L Gates, last year negotiated and formalized an Agreement between "a reputable international development and financing group, headed by a person whose identity must remain undisclosed, and Centrepointe, LLC, a Lexington group." Under the Agreement, the investor "unconditionally committed to fund $250 million" to finance the project on an "all-equity" basis.

Crane continues that the project proceeded through the planning and design stages and is "now ready to go. Unfortunately, the process was complicated by the sudden and unexpected death of one of the principles," a major complication in implementing the funding plan. Crane said funding has been delayed until the personal representative and successors of the deceased accept the estate and assume his role in the transaction. He added that those matters are subject to the laws of the country in which the deceased financier resided.

"All indications are that the successors will cooperate to complete the funding as per the Agreement and to complete the project," Crane wrote.

The attorney said he has made three overseas visits in the past four weeks "to secure and insure the continuation of the planned and committed funding," adding, "Our goal is to obtain an immediate release of the funds that were earmarked" for Centrepointe.

Crane said economic conditions which have halted most major real estate projects around the world are not a factor in the delay of the start of the project.
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Old April 10th, 2009, 05:21 AM   #134
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Nice ! Designing a space for parks and trees at mid height is the best architects can do in a vertical proposal !
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Old April 12th, 2009, 12:28 PM   #135
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Interesting design - different of course from Centrepoint skyscraper in London.
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Old April 22nd, 2009, 03:21 PM   #136
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It's a completely different developer. The local developer created a branch of their development company and called it CentrePointe. It may not even be known as "CentrePointe", but instead just "Marriott", or "Lexington Marriott".

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Nice ! Designing a space for parks and trees at mid height is the best architects can do in a vertical proposal !
I agree. There is a lot of lounge space above the entire lower section. Even with a putting green.
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Old April 25th, 2009, 02:39 PM   #137
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If this building is not under construction should this not be moved to the proposed section?

Last edited by novaguy; April 25th, 2009 at 02:39 PM. Reason: spelling
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Old April 25th, 2009, 02:52 PM   #138
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Quote:
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If this building is not under construction should this not be moved to the proposed section?
Or maybe on hold? It's certainly not under construction! Of course the new arena in Louisville has 4 tower cranes major construction underway and is heading doesn't show its under construction! I think the moderators all have their own agendas.
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Old April 25th, 2009, 10:18 PM   #139
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impresionante proyecto esta muy hermoso
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Old April 27th, 2009, 02:04 AM   #140
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Ya, louisville arena should be u/c..

this one should be prep, it's just a matter of PMing the mods and telling them to change it
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