Htsguy

Hmm...in an article today Steve Litt described Pace's development on the lakefront by the stadium as a "feasibility analysis". I thought it was a lot more than that at this point. We have been doing these analysis for 30 years.

Wonderful. Thanks MayDay.

I tend to agree with you and the pics seem to support your point. Why is it that a city like Vancouver with a third of the population seems so much "put together"? LA, with its population, wealth, diversity, youth and well established institutions (not to mention the weather) should be the best America has to offer. It is one of our "international" cities but it should be competing with London (it doesn't compare) not San Francisco (which also have a better urban fabric).

Like the design.

Well that was depressing

^Are you talking about the townhomes on Detroit? If you are I don't believe Stark had anything to do with it. If I recall it was a joint venture involving Forest City itself or some of its principals.

^This issue was discussed at length about a month ago in this thread. If you check back a few pages you should find some answers.

^Yeah, you know, all those guys who are fun at parties.

^The article states they are taking space on the 25th Floor and 2nd floor. Frank and Paulys was on the first floor of the atrium.

^In the case of this particular location I would imagine that it was built by Walgreens and they own it...they are not set up to be a landlord and I would imagine don't want the aggrevation.

Wow, in my wildest dreams I could not imagine an ice cream better than Jeni's. It kills Mitchell's here in Cleveland.

I guess I am confused by a number of the above posts. Does this mean Stark does have an ownership interest in 515? And if they do I sure hope we don't get into a biting off more than they can chew scenario. I'd rather see them focus on Nucleus and get it done right. Hell right now I would settle for the rehab of the smaller buildings they bought on Prospect that were involved in all that litigation.

^it would be a HUGER "get" if it was downtown at Nucleus.

not a fan of the freeway right up against the river

Two questions (if any one can answer) Is the 9.5 at this time inclusive or exclusive of the equity contribution of Stark Enterprises? What is the standard debt to equity ratio in a development project of this size?

^Pure speculation but I would guess value engineering as the design and construction progressed.

It does look from the above photo and rendering that the Lakeside balcony has been nixed as the curtain wall looks flush. The rendering does look more interesting.

^I think they are referencing the March 8 photos posted by May Day on the previous page which do show the Lakeside curtain wall.

For me personally (and I am looking to rent in the city in the next two years), with everything I am aware of in the "pipeline" this would be my preferred location and I would be willing to pay the higher rents. This is the ideal walkable location to so many different things, and is just like being downtown without being downtown. Many of the views of the skyline will be incredible (you get the whole skyline unlike if you were in the center of downtown). This and the Duck Island development are the two on my radar screen.

^Also think Sixth City's scenario is a good bet. From the little I know about the tax credit program, I doubt they would be awarded to Waring (especially under that scenario) since they are not a developer.

To answer the question posed in the heading of this thread....It is easy (building in a green field) compared to other types of residential and it is what they know how to do. The smaller guys are not rocket scientist and the bigger guys already have too much invested in large plots of land in the middle of nowhere from years ago.

A major office building (if that is what we are thinking of for that lot...although a new construction residential will also be problematic as well, financing wise, as we have discussed at length) is going to require a major tenant, maybe even two, before any body is lending $$$ for construction. For the life of me I cannot guess who that would be. It would be great if Progressive would just take some space downtown (not abandoning the suburbs totally which I know is a big issue for them and many of their employees). I would imagine many of their employees (especially the younger ones) would prefer to work downtown and I bet their west side employees would jump at the opportunity.

^Both Richard and David Jacob passed away some time ago. I don't believe any Jacob is high up in the company. Family members are probably shareholders.

^Who are you referring to when you say "him".

Really? The one on the right hand side of the pic (that is the one I was referencing not the one on the left).