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Old October 9th, 2019, 09:34 PM   #201
TCMPLS
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Per the DMNA Land Use Committee:

Chris Osmundsen from Alatus expects construction to start in late 2019 per email to DMNA Neighborhood Coordinator dated 7/8/2019.

“We’re targeting December 2019 at this time however it could be Q1 2020 as well. It’s a significant project and we are lining up partners at this time.”
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Old October 9th, 2019, 09:55 PM   #202
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I really do like this building but I just have an issue trusting anything Altus says until they start digging
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Old October 9th, 2019, 10:13 PM   #203
RedDutch
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Quote:
Originally Posted by TCMPLS View Post
Per the DMNA Land Use Committee:

Chris Osmundsen from Alatus expects construction to start in late 2019 per email to DMNA Neighborhood Coordinator dated 7/8/2019.

“We’re targeting December 2019 at this time however it could be Q1 2020 as well. It’s a significant project and we are lining up partners at this time.”
Now where have I heard that before....Hmmmmmm.
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Old October 9th, 2019, 10:57 PM   #204
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Quote:
Originally Posted by TCMPLS View Post
Per the DMNA Land Use Committee:

Chris Osmundsen from Alatus expects construction to start in late 2019 per email to DMNA Neighborhood Coordinator dated 7/8/2019.

“We’re targeting December 2019 at this time however it could be Q1 2020 as well. It’s a significant project and we are lining up partners at this time.”
Remember the following response from bapster?

Quote:
Originally Posted by bapster2006 View Post
Alatus has informed me this project will break ground the first part of 2020. The design is the same. They have ran into cost and labor shortage issues.
These clowns already have excuses lined up for why this project won't happen. While they are running into cost and labor issues, others are experiencing few.

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Last edited by CityofLakes; October 9th, 2019 at 11:05 PM.
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Old October 9th, 2019, 11:34 PM   #205
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Quote:
Originally Posted by RedDutch View Post
Now where have I heard that before....Hmmmmmm.
I'll never trust a word these clowns say. Alatus literally uses every excuse in a book for their failed projects.

Realistically, the chance that Alatus gets their stuff together and this project breaks ground in the next two months is less than 1% considering we've gone almost a year with no updates on this. Next thing you know, a supposed Q1 groundbreaking will be pushed back to Q2, and then they'll cancel the project outright due to "increased construction costs" or "financing partners backing out." I suggest everyone temper their expectations when it comes to anything Alatus-related.

Last edited by mspguy; October 10th, 2019 at 01:41 AM.
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Old October 10th, 2019, 08:44 AM   #206
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I do believe this will happen. With Alia out of the picture, I think they are regrouping to move this high quality project forward. It will be a great addition to downtown, and add hundreds of residents to the southern edge of the CBD
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Old October 10th, 2019, 01:53 PM   #207
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Originally Posted by John Nicollet Mall View Post
I do believe this will happen. With Alia out of the picture, I think they are regrouping to move this high quality project forward. It will be a great addition to downtown, and add hundreds of residents to the southern edge of the CBD


Absolutely!
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Old October 10th, 2019, 08:00 PM   #208
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Well now with 200 central gone, this seems a lot more feasible to gain movement. They should add 10 floors on to this one for the disappointment they've put everyone through! HA! Seriously though...
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Old October 10th, 2019, 08:15 PM   #209
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Well now with 200 central gone, this seems a lot more feasible to gain movement. They should add 10 floors on to this one for the disappointment they've put everyone through! HA! Seriously though...
Thank you TallAnjunabeats91. Whoop whoop.
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Old October 10th, 2019, 10:14 PM   #210
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Thank you TallAnjunabeats91. Whoop whoop.
What's....happening....??

I feel....Taller for some reason all of a sudden!!!
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Old October 10th, 2019, 11:28 PM   #211
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Quote:
Originally Posted by uptownbro View Post
I really do like this building but I just have an issue trusting anything Altus says until they start digging
Financing an apartment project is much simpler than financing a condo project.

If you remember before the financial crisis there were tons of condo proposals, most of them never happened because they never met their presales targets. Most of the apartment projects that have been proposed have been built, because you don't have to sell them, you just need to rent them.
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Old October 11th, 2019, 12:21 AM   #212
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Plus, I remember hearing about a stringent construction liability for condos that keeps the possibility of lawsuits open for years/decades.
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Old October 11th, 2019, 07:09 AM   #213
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Plus, I remember hearing about a stringent construction liability for condos that keeps the possibility of lawsuits open for years/decades.


Liability is still an issue for condos -that hasn’t really changed much yet.
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Old October 11th, 2019, 07:20 AM   #214
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I'm always feeling Tall on this forum!
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Old October 11th, 2019, 06:56 PM   #215
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The state legislature changed the liability rules regarding condos a couple of years back. It's still more of an issue with condos more than apartments, but not nearly the issue that it used to be.
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Old October 12th, 2019, 05:57 AM   #216
John Nicollet Mall
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This project is definitely of condo caliber as far as quality goes. Or it could be converted at a later date. Another possibility is to make it part rental and part home ownership. Whatever Alatus decides I wish them well and hope they get this built.
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