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Old September 12th, 2015, 07:06 AM   #121
TallBob
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Probably an 8 story Piece of S--t!! Developers: No need to take a small risk in this town!
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Old September 12th, 2015, 08:29 AM   #122
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Never would happen.
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Old September 12th, 2015, 06:39 PM   #123
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This site is a logical place for an office tower. Given economic trends we will probably start getting some of those again in a few years. Given the current booms in apartment and hotel construction, any new large project of those types that are begun now will probably not be done before those markets are saturated.

My completely uneducated guess is that this project won't happen as is because it began too late in the cycle, but some other major project will eventually materialize on this site.
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Old September 13th, 2015, 05:15 AM   #124
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The way office users have been contracting and in some cases, still leaving the central area, it's probably going to be a long time my friend!
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Old September 13th, 2015, 06:10 AM   #125
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It's funny because Polaris came from the suburbs last week. I also don't remember a HQ from the city moving to the suburbs this year. So....
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Old September 13th, 2015, 06:45 AM   #126
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It's funny because Polaris came from the suburbs last week. I also don't remember a HQ from the city moving to the suburbs this year. So....
Actually that was Artic Cat that moved in to the North Loop last week
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Old September 13th, 2015, 03:51 PM   #127
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Lol sorry long week.
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Old September 14th, 2015, 03:18 PM   #128
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Did TCF move to Plymouth last year?
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Old September 15th, 2015, 07:05 AM   #129
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^ Yes... Somewhere out in that area! I've basically given up on anything on "tall" side being built in this city for 5-10 years! Oh well they'll probably built some of taller stuff out in the Suburbs.
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Old September 15th, 2015, 03:48 PM   #130
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TCF moved this year, or still in the process of moving all employees out to plymouth. their lease runs to december.
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Old November 17th, 2015, 06:28 PM   #131
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Sorry I don't mean to falsely excite anyone by bring this seemingly dead thread back up top on our main page, but I have to ask, what's the status with this block now that we are nearing 2016? Anyone know if there's still plans for this now, or is this pretty much back to nothing? Never was clear to me where this all left off and why
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Old November 17th, 2015, 08:10 PM   #132
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The developer is looking for new partners. If there's news we'll hear about it. But so far nothing. I'm pessimistic at this point.
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Old November 17th, 2015, 08:51 PM   #133
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The developer is looking for new partners. If there's news we'll hear about it. But so far nothing. I'm pessimistic at this point.
The city picked too quickly. My guess is the Duval project would've been further along at this point
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Old November 17th, 2015, 09:26 PM   #134
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I think some investors are squeamish on condos, but when Stanton has 14 units sold and 9 reserved in how many months with a location that is not as choice as this site. I think when they see that there really is a market, the investors will thaw as to joining in.
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Old November 17th, 2015, 09:38 PM   #135
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The city picked too quickly. My guess is the Duval project would've been further along at this point
Are you thinking of the development that 360 Nicollet won?
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Old November 17th, 2015, 09:39 PM   #136
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The city picked too quickly. My guess is the Duval project would've been further along at this point
Regardless, I do agree that Duval would have possibly been farther along by now.
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Old November 17th, 2015, 10:01 PM   #137
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I think the biggest reason that this has stalled is due to switching from apartments to condos. But I really think it was the smarter move as apartments are now getting to a saturation point. By the time this would have been built, how many more luxury units would have been fighting for the remaining tenants in that price point.

With the Portland, and the Alatus condo tower, I think we have finally seen a break in the dam that has been holding back condo development. The real estate brokers say there is an unmet market and demand that is there if they just had the units to sell. One of the few times you will see me be a real optimist.
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Old November 17th, 2015, 10:19 PM   #138
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Are you thinking of the development that 360 Nicollet won?
No, 360 had nothing to do with these projects. United was picked over Duval.

The city are run by no-nothings when it comes to development.
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Old November 17th, 2015, 10:36 PM   #139
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360 is the old Ritz block and is an Opus project.

The gateway is the old Nicollet Hotel block and was referred to as the Gateway. I have a strong feeling that if the Duval project had moved forward we'd be just as frustrated and it would have ended up like the ill-fated Nicollet project on the other end of the Mall. Duval had a nice design, but it sounds as if his financing may have been "pie in the sky".

I'm sure United will eventually build here, but I just don't think they are very motivated. I'd almost like to see the city take it back and put out a new RFP, especially if Franklin (on the Foshay block) can prove how a mixed use project should look!
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Old November 17th, 2015, 11:21 PM   #140
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360 is the old Ritz block and is an Opus project.

The gateway is the old Nicollet Hotel block and was referred to as the Gateway. I have a strong feeling that if the Duval project had moved forward we'd be just as frustrated and it would have ended up like the ill-fated Nicollet project on the other end of the Mall. Duval had a nice design, but it sounds as if his financing may have been "pie in the sky".

I'm sure United will eventually build here, but I just don't think they are very motivated. I'd almost like to see the city take it back and put out a new RFP, especially if Franklin (on the Foshay block) can prove how a mixed use project should look!
There is a part of me that wishes I could disagree with you, but I too think they are dragging their feet. Only when it comes down to losing the exclusive rights will they put for more effort.

That said, I do understand that the ballgames is now totally different. You don't have investors beating down your door to get in on the next apartment project with the condo projects. But, this is my own feelings, the best returns on apartments have probably come to pass. Not to say they can't sell for a profit, but once it gets harder to fill the towers, the cash flow will not be there for the BIG payoff when you are trying to sell.

I'm hoping with the change in attitude that we are seeing, that the condo market can ignite a spark that will get a more much needed units for sale. The demand is there they say, just a matter of building a supply for them to sell from. I want to hope that we are still looking for people that want to make some money a different way. once it is harder to make money on apartments, the investors will have to look at a different investment vehicle that will make them some money.
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