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Old May 3rd, 2019, 01:38 AM   #1241
Bob Loblaw
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Got the following email today:

ALIA Insider,

With spring here and the sun making more frequent appearances, we would like to share a project update with you. Since our celebratory launch event in mid-December, the response to ALIA has been tremendous. We have heard loud and clear over the past five years that Minneapolis is eager for a for-sale condominium of ALIA’s caliber at a preeminent location, and we are excited to be bringing that to the market.

As many of you know, our team is committed to and has a reputation for developing incredibly high quality buildings. In alignment with this commitment, we recently secured a fully executed term sheet with a new financing partner whose values will support us in delivering the best possible homes to our buyers. This is incredibly important and our diligence in assembling the correct team will be apparent by the extraordinary building that results.

Our site preparation is complete and our pre-development and construction planning efforts are continuing. We will be breaking ground as soon as we have completed the construction documents and finalized subcontractors for the project.

Thank you,

ALIA’s Development Team
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Old May 3rd, 2019, 03:17 AM   #1242
go4guy
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Originally Posted by mspguy View Post
Why did they wait so long to get a better financing deal if they knew there was high interest in December!? That was six months ago. It could take several more months before we have any clarity on the status of this project.

We were a week away from the groundbreaking. Very disappointing.
Interest rates were still pretty high then. Much lower now and maybe at a point where it was worth finding a new financing package.

Also, an underwriter is going to be able to allow much more favorable terms with proof of reservations higher than they expected.
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Old May 3rd, 2019, 04:29 PM   #1243
beykite
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Engineering CD's are still under development, and I know prelim bids for precast on the podium have gone out. Not sure on the status of architectural CD's. I know that doesn't add a ton of new info but thought I'd share.
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Old May 3rd, 2019, 04:47 PM   #1244
RedDutch
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Quote:
Originally Posted by Bob Loblaw View Post
Got the following email today:

ALIA Insider,

With spring here and the sun making more frequent appearances, we would like to share a project update with you. Since our celebratory launch event in mid-December, the response to ALIA has been tremendous. We have heard loud and clear over the past five years that Minneapolis is eager for a for-sale condominium of ALIA’s caliber at a preeminent location, and we are excited to be bringing that to the market.

As many of you know, our team is committed to and has a reputation for developing incredibly high quality buildings. In alignment with this commitment, we recently secured a fully executed term sheet with a new financing partner whose values will support us in delivering the best possible homes to our buyers. This is incredibly important and our diligence in assembling the correct team will be apparent by the extraordinary building that results.

Our site preparation is complete and our pre-development and construction planning efforts are continuing. We will be breaking ground as soon as we have completed the construction documents and finalized subcontractors for the project.

Thank you,

ALIA’s Development Team
That is the update I received as well.
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Old May 7th, 2019, 07:15 PM   #1245
TCMPLS
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Quote:
Originally Posted by Bob Loblaw View Post
Got the following email today:

ALIA Insider,

With spring here and the sun making more frequent appearances, we would like to share a project update with you. Since our celebratory launch event in mid-December, the response to ALIA has been tremendous. We have heard loud and clear over the past five years that Minneapolis is eager for a for-sale condominium of ALIA’s caliber at a preeminent location, and we are excited to be bringing that to the market.

As many of you know, our team is committed to and has a reputation for developing incredibly high quality buildings. In alignment with this commitment, we recently secured a fully executed term sheet with a new financing partner whose values will support us in delivering the best possible homes to our buyers. This is incredibly important and our diligence in assembling the correct team will be apparent by the extraordinary building that results.

Our site preparation is complete and our pre-development and construction planning efforts are continuing. We will be breaking ground as soon as we have completed the construction documents and finalized subcontractors for the project.

Thank you,

ALIA’s Development Team
Quote:
Originally Posted by RedDutch View Post
That is the update I received as well.


Looks like you too might be neighbors! Thank you both for sharing, it's nice to have some inside knowledge from those looking to buy here!


My hope is that Alia can get up and off the ground close to the same time as our other big two going up. Three tower cranes for these three projects are going to look great amongst the skyline
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Old May 8th, 2019, 03:14 PM   #1246
Bob Loblaw
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Quote:
Originally Posted by TCMPLS View Post
Looks like you too might be neighbors! Thank you both for sharing, it's nice to have some inside knowledge from those looking to buy here!


My hope is that Alia can get up and off the ground close to the same time as our other big two going up. Three tower cranes for these three projects are going to look great amongst the skyline
I simply wanted updates on the project so I signed up for their mailer. A high rise condo with an 8 month old doesn't really excite me.
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