July 27, 20177 yr Does anyone know if a TIF is part of the financing package for the 515? Here is a link to the City Council legislation authorizing the TIF. It's Ordinance No. 171-17 starting on page 11: http://www.clevelandcitycouncil.org/ClevelandCityCouncil/media/CCCMedia/Documents/forintro2-13-17.pdf
July 27, 20177 yr A TIF Is probably a part of almost all new downtown construction. Does anyone briefly know the major differences between a regular TIF and Nucleus' unigue TIF.
July 27, 20177 yr TIf's in Cleveland do not include the school portion. CMSD continues to receive it's share of taxes. NuCleus is attempting to get a full TIF and providing the school with upfront money.
August 1, 20177 yr *looks out window toward Euclid Ave, taps fingers on desk patiently awaiting a crane to impede the view*
August 1, 20177 yr ^ soon...grasshopper. one must exhibit patience for the crane will erect itself on its own schedule.
August 1, 20177 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 2, 20177 yr Looked like they were removing a street light or something in front of 515 just now (sorry for the crap details, was on the bike and trying not to get hit). Preparation, maybe??
August 2, 20177 yr Looked like they were removing a street light or something in front of 515 just now (sorry for the crap details, was on the bike and trying not to get hit). Preparation, maybe?? I literally saw men in hard hats in the garage in May.. curb that enthusiasm for the time being. But, I have faith in down4cle[/member] and he has dispelled the rumors of a late-fall or early winter groundbreaking.
August 2, 20177 yr ^ haha, but this was a crane.. a crane! And blocking a lane of traffic and everything. OK it was cherry picker, bucket crane, but whatever. Ill keep it to myself... for now :)
August 3, 20177 yr I had someone just rag on me on social media, saying that he plans to go downtown tomorrow to see if Stark has started construction and if he doesn't see workers, he's going to tell Stark to go back to Westlake and forget about 515 Euclid and nuCLEus as well. (BTW Stark is from Beachwood) So I guess if Stark has workers toiling at 515 Euclid starting on Monday next week, Mister Wrapped-Too-Tight won't give him (or me) a pass because he didn't see workers exactly when he expected to see them. Some folks get emotionally married to these projects. Please don't. It's not about you. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 3, 20177 yr I had someone just rag on me on social media, saying that he plans to go downtown tomorrow to see if Stark has started construction and if he doesn't see workers, he's going to tell Stark to go back to Westlake and forget about 515 Euclid and nuCLEus as well. (BTW Stark is from Beachwood) So I guess if Stark has workers toiling at 515 Euclid starting on Monday next week, Mister Wrapped-Too-Tight won't give him (or me) a pass because he didn't see workers exactly when he expected to see them. Some folks get emotionally married to these projects. Please don't. It's not about you. Is it about being wrapped too tight? I work in deadline driven details oriented industry. On a daily basis our department solves complex problems, many times live over several time zones. Timelines have to be met. It just cracks me up a bit that Stark or whatever developer can put out a timeline and there's no accountability for it. In fact sometimes you get "attacked" on this board for actually questioning why he's missing deadlines he put up. I understand Stark is working on large projects but other industries have large, complex problems too and they actually have to be completed when promised or they lose, at the very least, some credibility. So when someone repeatedly can't keep a deadline others will begin to wonder what's the point of believing him at all. I don't think that's crazy.
August 3, 20177 yr ^ Whose deadline is Stark failing to meet here? I fail to understand the criticism. It is very common for real estate projects to get late starts for various reasons.
August 3, 20177 yr ^I would like to know where these deadlines and time lines have been published. As far as I can tell they have simply been board speculation of people "in the know" and vague news reports. Also, it is probably good that you are not a real estate developer because it appears you would have committed suicide years ago.
August 3, 20177 yr Jarboe talks about construction possibly staring at the end of 2016. Then it's moved to spring. Now we're in August. I don't have an issue with it but I can see how people are skeptical after Pesht and the continuing Nucleus saga. I agree about your Real Estate comment, Hts. You'd commit suicide if you had to do what I did on a daily basis. We come from different worlds so understand that people will see things from a different perspective and doubts will creep in. It doesn't mean they're crazy, it means they need to be explained about the situation. This thread does a good job of this. I'm not really responding to the project here but Ken's dismissal of people who are becoming impatient. I can see where they are coming from.
August 3, 20177 yr A few weeks ago Jarboe reported that the county was approving the final piece of financing for the project. That's a long way for a developer to go on a fake project. Financing is being finalized and construction will begin immediately following that.
August 3, 20177 yr Michelle JarboeVerified account mjarboe[/member] .@CuyahogaCouncil will consider $2M loan for Beacon tower in downtown #CLE next week. Developer still aims for August groundbreaking. I assume this loan was passed? I hadn't heard any follow up. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 7, 20177 yr Full disclosure: I was the grown man sobbing outside of Potbelly sandwiches today screaming "WHY WONT YOU COMMIT?!?!?!?" at the building.
August 7, 20177 yr So what does your comment mean? My (clearly) failed attempt at humor is merely a manifestation of my desire for construction to begin
August 9, 20177 yr Cuyahoga County Loan Approved. http://fox8.com/2017/08/09/cuyahoga-county-recommends-2-million-loan-for-downtown-apartment-building/
August 9, 20177 yr So where's the construction crews/equipment?? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 11, 20177 yr Not able to upload photos at the moment but there's what appears to be a tower crane being assembled on East Sixth Street between Superior and St. Clair.Asked one of the workers and they pointed at the Federal Reserve Bank - rather odd for an existing building, right? clevelandskyscrapers.com Cleveland Skyscrapers on Instagram
August 11, 20177 yr Not able to upload photos at the moment but there's what appears to be a tower crane being assembled on East Sixth Street between Superior and St. Clair.Asked one of the workers and they pointed at the Federal Reserve Bank - rather odd for an existing building, right? They set that crane up there once in awhile. Not sure what they are doing with the reserve but it's unrelated to 515 :(
August 11, 20177 yr Crap, I've seen smaller cranes there for HVAC work but ah well. Sorry folks! clevelandskyscrapers.com Cleveland Skyscrapers on Instagram
August 14, 20177 yr I paid the extra money to park there again this morning and noticed a man with a sight-level on the top floor of the garage. I would assume this would be in preparation for the crane. Exciting stuff.
August 14, 20177 yr ^ I can't say much more. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 14, 20177 yr I want to believe down4cle[/member] with all my heart re: the August start date... However, this is now the second time I have seen preparation for construction in this garage. Just dont want my heart to be too vulnerable here, I'm not sure it could recover from disappointment of this level.
August 14, 20177 yr This is just an inanimate building project. Let alone someone else's project over which you have no control. So why get emotionally involved? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 14, 20177 yr This is just an inanimate building project. Let alone someone else's project over which you have no control. So why get emotionally involved? Lol I was joking around, it was a figure of speech KJP[/member] .. the sun will rise tomorrow either way. Just excited, that's all.
August 21, 20177 yr ^I noticed an on-site mobile medical unit near e6th and Euclid yesterday that wasn't there before. Apple medical usually sets those up on large construction sites. Could this be a sign?
August 24, 20177 yr Saw some trucks outside of the building today as I was going to lunch. But it looked like they were only putting up (or maybe taking down??) a sign for a coffee shop on the ground floor. Was hoping I would have had the scoop on an "official start"!!!
August 28, 20177 yr I'm slowly coming to the realization that PHS tower will break ground before 515. I just do not see any reason for the continual delay. The project was supposed to break ground last fall, then April for sure, then June, then August. I just don't see them starting. There has to be some reason other then financing. We were told a long time ago that financing is all but wrapped up.
August 28, 20177 yr The project was supposed to break ground last fall, then April for sure, then June, then August. I just don't see them starting. There has to be some reason other then financing. At this point, I'm thinking 515 was placed over an Indian burial ground.
August 28, 20177 yr I'm slowly coming to the realization that PHS tower will break ground before 515. I just do not see any reason for the continual delay. The project was supposed to break ground last fall, then April for sure, then June, then August. I just don't see them starting. There has to be some reason other then financing. We were told a long time ago that financing is all but wrapped up. Agreed. "We just need financing to close, then construction will begin immediately." All financing issues now closed three weeks ago...
August 28, 20177 yr I'm slowly coming to the realization that PHS tower will break ground before 515. I just do not see any reason for the continual delay. The project was supposed to break ground last fall, then April for sure, then June, then August. I just don't see them starting. There has to be some reason other then financing. We were told a long time ago that financing is all but wrapped up. Agreed. "We just need financing to close, then construction will begin immediately." All financing issues now closed three weeks ago... Is financing closed?
August 29, 20177 yr I'm slowly coming to the realization that PHS tower will break ground before 515. I just do not see any reason for the continual delay. The project was supposed to break ground last fall, then April for sure, then June, then August. I just don't see them starting. There has to be some reason other then financing. We were told a long time ago that financing is all but wrapped up. Agreed. "We just need financing to close, then construction will begin immediately." All financing issues now closed three weeks ago... Is financing closed? In response to someone's comment on Beacon in her story about the lakefront apartment breaking ground, Michelle states "Financing for the Beacon project could close late this week. I'm keeping tabs on it." http://realestate.cleveland.com/realestate-news/2017/08/cumberland_development_to_brea.html#incart_river_home
August 30, 20177 yr Wouldn't a newly recorded mortgage be the best indicator that construction is about to begin?
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