[Majin]

Thank god they are finally tearing up the parking lot. I hate parking lots, at least I won't have to drive by it anymore.

Now if they would only fill the hole in a timely manner (no more extensions!)

[Majin]

Wow! 621 is stunning from the side! :D I'd certainly sacrifice that view to have Aura though.

If 621 were about 10 storys taller and had a underground parking garage instead it would be a really, really good looking building.

The parking garage facing L street just kills it though. I dont know if you seen it in person, but it looks horrible.

[sugit]

The parking garage facing L street just kills it though. I dont know if you seen it in person, but it looks horrible.

Yeah, I agree. The glass looks great, but that garage looks ridiculously terrible. Hopefully Aura (if built) and some ground floor retail will help divert attention away from it.

[BrianSac]

If 621 were about 10 storys taller and had a underground parking garage instead it would be a really, really good looking building.

The parking garage facing L street just kills it though. I dont know if you seen it in person, but it looks horrible.

I agree with you. I hate that garage. I keep trying to convince myself it can or will look better when the building is done. Maybe they can put art on the walls or let vines grow on them.

[travis bickle]

I agree with you. I hate that garage. I keep trying to convince myself it can or will look better when the building is done. Maybe they can put art on the walls or let vines grow on them.


There's and old saying: Gangsters bury their mistakes, Architects landscape them.

[innov8]

Great shots! Thanks for posting these for us...

Your welcome... from what I understand, once work starts on Aura, a new
sales office will be opened up where Epic going to be built. :tup:

I know, I know... let's not get ahead of ourselves :yes:


http://img252.imageshack.us/img252/9818/auralot20070523copymn4.jpg (http://imageshack.us)

[Sacto]

This is lookin great so far...hopefully it'll last till Aura is complete.

[Phillip]

The little square windows/vents in the parking garage remind me of a prison. The building iself looks good though. Nice pics, innov8!

[Fusey]

The little square windows/vents in the parking garage remind me of a prison.

The sad part is the parking garage looks better than Downtown Plaza. Not like that's hard, though.

[TowerDistrict]

anyone know what's on on the east side of Aura? or on which floor do the condo units begin? i def wouldn't want a fourth floor unit on the east side..

[Phillip]

anyone know what's on on the east side of Aura? or on which floor do the condo units begin? i def wouldn't want a fourth floor unit on the east side..LOL. Maybe they could use the squares to make giant sudoku puzzles?

[slaiguy]

The condo units, judging by the plan on Aura's web site, begin at level 7.

[ozone]

I have to agree with you guys about the garage. I don't know what they would be able to do with it to make it look better. Maybe they should just allow shops in the mall across the street to install giant size ads like they do in many Asian cities?

[cozmoose]

I have to agree with you guys about the garage. I don't know what they would be able to do with it to make it look better. Maybe they should just allow shops in the mall across the street to install giant size ads like they do in many Asian cities?

something like this?
http://tokyoyakei.cool.ne.jp/tokyo/ginza/ginza-6.jpg

how about the walking dinosaur animation? lol.
http://www.dailyinfo.co.uk/images/cinema/lost-in-translation.jpg

[ltsmotorsport]

I actually wouln't mind that at all. Downtown could always use a little more color and light at night.

[ozone]

Or how about this?
http://img158.imageshack.us/img158/4638/project1abcbr1.png

[Phillip]

Or this?

http://img522.imageshack.us/img522/6787/hollywoodsquaresec7.jpg

[snfenoc]

As long as Serg or Neuhicky take center square, I'm down.

[TowerDistrict]

Or this?

haha...great idea!

i'm thinking that's how city council meetings should be held.

[Web]

I say put Nassi in there somewhere........

[urban_encounter]

I would caution people not to read too much into the fact that the surface lot at 601 CM is being ripped up. It really means little at this point.

Nassi still doesn't own the parcel at 601 CM, doesn't hold and option to buy the property (that we know of) and still hasn't picked up his permits.

In addition he's still struggling to secure financing (as evidenced by his request for yet another city exstension on it's $10 million loan).

Lastly I doubt that David Taylor would allow Nassi to begin ripping up a parking lot (that Taylor still owns).

Hopefully I'm wrong, but my guess is that that it has more to do with 621 Capitol Mall than with Aura.

[Phillip]

Portland's got an Aura too. It's only one story tall but it's done! (Aura's a trendy restaurant/bar there.)


http://img469.imageshack.us/img469/3136/img0205iy6.jpg

http://img469.imageshack.us/img469/4914/img0206mw0.jpg

[otnemarcaS]

:previous:

I have been to this place twice when I was in Portland. Pretty trendy and lots of eye candy in there. :yes:

[Web]

The fencing has the contractors name on it for 621 surrounding the entire site........Hensel Phelps......

So its seems like they are making do with the whole lot for now

[Phillip]

:previous:

I have been to this place twice when I was in Portland. Pretty trendy and lots of eye candy in there. :yes:Aura used to have a rep for lots of nose candy too. :eeekk:

Don't know about now.

[greenmidtown]

Aura used to have a rep for lots of nose candy too. :eeekk:

Don't know about now.

when I went to Aura last summer it pretty much sucked. typical industrial trendy club with lots of Portland posers pretending they're in LA. I'm sorry but I don't care how trendy the Pearl District is Portland is still Portland and this club with its pretentiousness and "guest list line" does not fit. I know I'm going way off topic but if you're looking to hang out with locals and enjoy the downtown Portland scene I'd advise against Aura. ask any local they all avoid it.
didn't mean to go on a rant but I couldn't let this one go.:whip:

[urban_encounter]

The fencing has the contractors name on it for 621 surrounding the entire site........Hensel Phelps......

So its seems like they are making do with the whole lot for now

I suspect that they're simply making over the lot, per their earlier plans submitted to the city; and working under the assumption that Aura will be a no go.

[downtownserg89]

omg i thought the same thing when i saw the empty space on the side of the parking lot facing the 7th and Capitol light rail station. perfect opportunity for advertisement since the lightrail goes by, and lots of cars. it's better than just leaving it blank!

and dammit,when i saw the fence and missing parking lot, i was like DUDE AURA'S GETTING BUILT!!! but then i checked out ssp after a few days and i guess i was wrong.

[enigma99a]

It's going to be a nice parking lot :P

[enigma99a]

Any updates? What is going on...

[innov8]

They are still clearing the lot.

[TowerDistrict]

i haven't been by in a while... are they ripping up all the concrete of the former parking lot? if so, it would be the first time i've ever heard of tearing up a parking lot to pave another parking lot.

was Nassi still requesting the sewage credits from the city? or was that lumped in with the later request for the loan?

[Phillip]

I know I'm going way off topic but if you're looking to hang out with locals and enjoy the downtown Portland scene I'd advise against Aura. ask any local they all avoid it.Which is "THE" downtown Portland scene? Aren't there are a dozen or more downtown Portland scenes? Sports bars, hipster, hiphop, pickup, bankers bars, underage clubs, gay bars, martini clubs, jazzclubs, on and on. Aura's not a place I go and I guess you don't like it either (we agree on something!), but I think it's been around for 8 or 10 years now, so it's got a following. I don't think any one niche defines "the downtown Portland scene".

[urban_encounter]

are they ripping up all the concrete of the former parking lot? if so, it would be the first time i've ever heard of tearing up a parking lot to pave another parking lot.

The city knocked down a two story parking garage (known as Lot A which is where the parcel got it's name) in order to make way for a one story surface lot.

In the absence of another structure, Taylor would still have to comply with the landscape plans as approved by Design Review and Planning Commission.

[JeffZurn]

Does Aura have a set number of condos to sell before they get the financing they need to start construction? Or are they simply waiting for the mezzanine loan to go through? Does the Towers going a different direction possibly help the sales of Aura, moving that projection forward into construction?

[neuhickman79]

I think the Towers demise DEFINITELY helps Aura. I think we might see some news from Aura in the next few weeks. I have heard a LOT of buyers from the Towers say they still wanted highrise living downtown. Aura will definitely benefit from those buyers...and there's probably hundreds of them!!!

[kryptos]

I think the Towers demise DEFINITELY helps Aura. I think we might see some news from Aura in the next few weeks. I have heard a LOT of buyers from the Towers say they still wanted highrise living downtown. Aura will definitely benefit from those buyers...and there's probably hundreds of them!!!

for once, we agree...

[urban_encounter]

Does Aura have a set number of condos to sell before they get the financing they need to start construction? Or are they simply waiting for the mezzanine loan to go through? Does the Towers going a different direction possibly help the sales of Aura, moving that projection forward into construction?


Corus Bank (the main lender) has a 50% pre sold financing threshold (or did).

Aura (supposedly) has pre sold 65-70% of the units.

As I understand it, the hold up is the Mezzanine loan.

CBS13 or KCRA (can't remember which though i think CBS13) reported during their story about the Towers at 301 CM, that Aura hopes to break ground (officially) in mid July.

Take that report with a grain of salt though, as we've been hearing that construction is imminent for the past 18 months (since it was approved by the city)...

[Majin]

It seems like to get a high rise loan in Sacramento you need to be 100% sold out :rolleyes:. Sad thing is after the towers failure the banks will probably get their wish.

[neuhickman79]

for once, we agree...

Ya gotta start somewhere! :)

[Tenebrist]

In advance of the June 2nd opening of the new Michael Lee-Chin Crystal at the Royal Ontario Museum (ROM), architect Daniel Libeskind and Toronto furniture designer Klaus Nienkämper have unveiled a new limited edition, custom built piece of furniture entitled the Spirit House Chair, inspired by the architectural peaks and facades of Libeskind’s Lee-Chin Crystal.

http://www.rom.on.ca/news/releases/graphics/chair1.jpg http://www.rom.on.ca/news/releases/graphics/chair2.jpg

The contemporary, multi-faceted Spirit House Chair is architect Daniel Libeskind’s first foray into the world of furniture. The chair is constructed entirely of 14 gauge stainless steel with a brushed finish and weighs 180 lbs. It is designed to be oriented in five different positions and can be used as a side-table. Each chair takes 40 hours of labour to complete. As a special finishing touch, each chair will have Libeskind’s signature etched onto it.

"Libeskind’s design for the ROM’s new addition lends itself well to small scale interpretations so it was a natural step for us to conceive a modern piece of furniture that would represent this monumental occasion," said Klaus Nienkämper, President and Founder of Nienkämper Furniture. "The steel structure of the chair is symbolic of the Lee-Chin Crystal’s strong steel foundation, its unique concept and its permanence on the Toronto landscape."

The chair is named for the space at the heart of the Michael Lee-Chin Crystal called the Spirit House, where the structural support beams unite to form an open space that will be filled with a soundscape reflecting various aspects of the Museum. Thirteen Spirit House Chairs will be placed on Level 1 of the Spirit House, so visitors can use it as a place of contemplation and reflection, three will be placed at the front entrance to the Lee-Chin Crystal and two will be on display in the new ROM Museum Store.

"We are extremely grateful to both Daniel Libeskind and Klaus Nienkämper for their collaboration on this remarkable piece of furniture, adding another unique dimension to the Michael Lee-Chin Crystal," said William Thorsell, Director and CEO of the ROM. "It's gratifying also that the Spirit House Chair will have a life outside the ROM, as it will certainly appeal to discerning people around the world. The Museum is accessioning one Chair into our decorative arts collection for the appreciation of future generations."

(via Royal Ontario Museum press release)

[Tenebrist]

http://www.thecoolhunter.net/images/stories/2007pics/toronto1.jpg
What started out as a sketch on a napkin at a family wedding, soon became a submission for Toronto’s Royal Ontario Museum extension. This extension may well signal the prelude to the city’s cultural renaissance, and be the first deviation from the boxy buildings of the existing landscape. It’s about time someone got away from the boxes, plus this building is not too shabby either.

World-famous architect Daniel Libeskind, who also won the 2002 contest to replace New York’s World Trade Center, faxed the napkins in. Since then, the 56,000 square-foot addition has brewed several controversies amongst Torontonians and architecture buffs - as does any visionary work, or so they say. While some praise its bold design marked by angular complexity, others believe it’s an insult to a heritage monument. Yet others just think it resembles an alien ship from space. At least it has people talking.

http://www.thecoolhunter.net/images/stories/2007pics/toronto.jpg
Completion is estimated for 2009, when seven galleries will house exhibits including the world’s largest known black-star sapphires, masterworks from Japan and pre-historic dinosaur and mammal specimens.

http://www.thecoolhunter.net/images/stories/2007pics/crystal.jpg
The new lounge-like, black-and-white-themed fine-dining restaurant Crystal 5, will give you a peek into the city through the large windows over fresh, organic meals in biodegradable packaging. They’ve thought of everything. Since when have places that house historical items had to resemble medieval, symbolic, majestic, or so-called timeless buildings? We don’t think they do, and this dawning of the Crystal age supports our views. By Hima Bativia. Pics by SAM JAVANROUH

http://www.thecoolhunter.net/images/stories/2007pics/crystal1.jpg

(via thecoolhunter.net)

[Sacto]

I really like Libeskind's work.

[JeffZurn]

Well it sure is interesting to say the least. Lets just hope he can start focusing on Aura now

[wburg]

um, so that's an art gallery, right?

How does one hang artwork on those walls?

[SacTownAndy]

um, so that's an art gallery, right?

How does one hang artwork on those walls?

That's funny you brought that up- the new Libeskind-designed Denver Art Museum extension (DAM) just opened here and it looks an awful lot like the one in Toronto above. There was controversy here as well because there is not one vertical wall in the entire DAM, everything's angled. Surprisingly, it's worked out well.


http://www.designbuild-network.com/projects/dam/images/DENVER-1.jpgwww.designbuild-network.com

http://emptystreets.net/media/images/20061012_denverartmuseum.jpgwww.emptystreets.net


Anyway, the reason I bring this up is because in addition to the art museum, Libeskind designed the adjacent condos as well (also now complete). I went to check them out not too long ago and whoa were they nice! (see link below) I can't imagine that Aura would be all that different? The units that face the museum are actually selling faster than those with the views of the mtns or downtown. After seeing these, I really hope that Nassi can pull off Aura.

http://www.museumresidences.com

[wburg]

Somehow the theme from "Empire Strikes Back" starts playing in my head when I look at that building...I keep expecting TIE fighters to stream out of the top...either that or Cylon raiders.

[Majin]

Update on Aura?

[innov8]

They are installing a drain pipe.

[TowerDistrict]

a sewage drain pipe?

[Majin]

They are installing a drain pipe.

For the parking lot or for Aura?

[snfenoc]

de-watering??????

[JeffZurn]

Is this just a drain for the parking lot? Or the sign of something better to come?

[innov8]

Let just say it looks like a drain for the parking lot... we won't know for sure till August some time.

[Sacto]

um, so that's an art gallery, right?

How does one hang artwork on those walls?

That would be the least of my worries, the building itself is a piece of art.

[wburg]

That would be the least of my worries, the building itself is a piece of art.

Unless you were an artist who hoped to hang their artwork inside! While I don't disagree that the building is a piece of art (part of why I like old buildings so much is appreciation of their artistry) it seems kind of silly if a building's "artistic" aspects have such a profoundly negative effect on the building's intended function.

It's kind of like designing a gas station, but putting the gas pumps on the roof so cars can't reach them. I mean, it's a bold idea for sure, but not exactly, well...practical?

[Grimnebulin]

Unless you were an artist who hoped to hang their artwork inside! While I don't disagree that the building is a piece of art (part of why I like old buildings so much is appreciation of their artistry) it seems kind of silly if a building's "artistic" aspects have such a profoundly negative effect on the building's intended function.

It's kind of like designing a gas station, but putting the gas pumps on the roof so cars can't reach them. I mean, it's a bold idea for sure, but not exactly, well...practical?

You do realize of course that art can be displayed in many other ways than just being mounted on a vertical wall, right? :sly:

I love the building! :tup: :banana:

[kryptos]

Let just say it looks like a drain for the parking lot... we won't know for sure till August some time.

you have the most knowledge out of everyone on this board, so ill take it as most likely, Aura isnt going to happen

[jsf8278]

I read that 80% or more of the condos at Aura had deposits down on them already. With that in mind, why are they having such trouble securing financing? Did they not charge enough for the condos, and there's not enough money to be made? Just wodnering

[enigma99a]

I read that 80% or more of the condos at Aura had deposits down on them already. With that in mind, why are they having such trouble securing financing? Did they not charge enough for the condos, and there's not enough money to be made? Just wodnering

No, the banks require highrise projects in Sacramento to be sold out 300% before financing is handed over.

[arod74]

I read that 80% or more of the condos at Aura had deposits down on them already. With that in mind, why are they having such trouble securing financing? Did they not charge enough for the condos, and there's not enough money to be made? Just wodnering

No one seems to really known what is going on. I doubt Nassi himself knowns. Let's see..

preconstruction costs locked in = check
rival's project down the street in the crapper = check
city subsidy errrrr funding gap loan in place = check
site purchased and ready for immediate work = check
building upwards of up to 70 - 80% sold through = check
according to Nassi main construction loan in place = check

and yet silence??????

[Majin]

Yeah seriously, what is going on with that project?

Where are we at on the 60 day extension?

[JeffZurn]

Yeah seriously, what is going on with that project?

Where are we at on the 60 day extension?

Some time in August we should hear whats going on.:shrug:

[jsf8278]

Some time in August we should hear whats going on.:shrug:

Just wondering, what's the significance of August, and where is the August info coming from?

[JeffZurn]

Just wondering, what's the significance of August, and where is the August info coming from?

I believe that is when his 60 day extention runs out

[TowerDistrict]

I believe that is when his 60 day extention runs out

...again. :fruit:

[Web]

I say Nassi and Moe need to form a partnership......(the think big and accomplish nada committee)......

as for Aura......Nassi Nassi Nassi......tick tick tick.....

hmmm and I remember all the talk of 2 buildings going up simultaniously on the 600 block......and all the conflicts it would cause......

[friedpez]

I say Nassi and Moe need to form a partnership......(the think big and accomplish nada committee)......

as for Aura......Nassi Nassi Nassi......tick tick tick.....

hmmm and I remember all the talk of 2 buildings going up simultaniously on the 600 block......and all the conflicts it would cause......


Yeah that's such a great excuse for the delay... One trip to Vancouver puts that theory to bed!

[innov8]

^ The only person who has ever said that is web... nothing has ever been
said or written saying that the delay is because two buildings can't rise at
the same time. The delay has to do with financing, always has been.

[otnemarcaS]

de-watering??????

Yesterday, I had dinner and drinks with a structural engineering buddy that works for an engineering firm in town, so he sometimes gets to hear tidbits. He said indeed that the Aura site is being de-watered. That should take about two months before site excavation begins which should take another two months, he says. So, basically, Aura will start going up in about 4 months.

According to him, Nassi was basically waiting to see what poker hand will be dealt with John Saca's Towers project. Had those buildings gone up, there would be no Aura. Aura has also added more people switching from the Towers project.

Ironically, he told me more than a year ago that the Towers would not be built because of the high water table at that location makes it cost prohibitive to construct twin 54 story towers and make any profit. Five blocks away and a 54 story tower(s) would have been more cost feasible because of the lower water table, he said.

[innov8]

Don't take this personal otnemarcaS, but your buddy's full of it. There is no
de-watered equipment at the site. The site had a drainage line put in for a
parking lot, but they have stopped short of paving over the lot. Nassi has till
August to secure the loan needed to fill the gap to then start the project.
I don't think Nassi planned it this way. The price of the land has gone up several
million since the first agreement was struck to by the land from Taylor.

Also, Boston and NYC have high water tables and that has not stopped
those cities from building big... it can be done.

[urban_encounter]

Yesterday, I had dinner and drinks with a structural engineering buddy that works for an engineering firm in town, so he sometimes gets to hear tidbits. He said indeed that the Aura site is being de-watered. That should take about two months before site excavation begins which should take another two months, he says. So, basically, Aura will start going up in about 4 months.

According to him, Nassi was basically waiting to see what poker hand will be dealt with John Saca's Towers project. Had those buildings gone up, there would be no Aura. Aura has also added more people switching from the Towers project.

Ironically, he told me more than a year ago that the Towers would not be built because of the high water table at that location makes it cost prohibitive to construct twin 54 story towers and make any profit. Five blocks away and a 54 story tower(s) would have been more cost feasible because of the lower water table, he said.



I'm a little confused with your statement. Did your "engineering buddy" say that they plan on de watering soon or that they were currently de watering?
Because with all due respect, they are not currently de watering that site.

When they do, it should be clearly visible and i just drove by the site yesterday and they definitely were not in the process of de watering 601 CM (that I could see)..

It does however look like they are still dewatering parts of 500 CM, even while foundation work continues.

I hope it still Aura happens, but unless anyone has any new updates, Nassi still doesn't own the land or hold the option to buy it and still hasn't picked up his permits.

[fatchocolatecow]

Don't take this personal otnemarcaS, but your buddy's full of it.

Agreed...

Ironically, he told me more than a year ago that the Towers would not be built because of the high water table at that location makes it cost prohibitive to construct twin 54 story towers and make any profit. Five blocks away and a 54 story tower(s) would have been more cost feasible because of the lower water table, he said.

The above statement does not make sense. The water table issue becomes relavent in terms of how deep you are excavating, not how high you are building. The cost prohibitive portion could be the need for an exteremely thick foundation to counteract buoyancy effects of the high water, but the site looks like it was only excavated one level below existing ground (approx. elev. 23' MSL), which would place the bottom of the pit at about elev 5' MSL or so. This is below winter high groundwater for the area but not that far below (the excavation for the CalPERS expansion headquarters was below elev 0' MSL as a comparison). The height and mass of the building would actually help with the buoyancy issue, because you have the entire weight of the building counteracting the upward force of the water.

[otnemarcaS]

Don't worry folks, nothing taken personal by me. I can't say that I completely agree or disagree with your disagreement of my friend's statement .... just putting out what he had said from what he knows. I believe he might have said they are getting ready to de-water the site and that should take about two months. I can ask him again when I see him again.

We were at Crawdads on the river and another friend in the group of four had purchased one of the condos at the Towers. So there was some intriguing conversation about Saca not being able to pull off this project. In a nutshell, he said the cost of driving in the deeper piles for that high water table location and getting the site ready was already so high even before construction that it just wasn't going to pencil out financially. My other buddy that bought a condo insisted that the timing of the project (later in a down market rather than in, say, 2002) plus Calpers withdrawal doomed the project. My engineering friend is familiar with, and has worked with, some of the firms or people involved with the Towers project site so he does get to hear inside construction info around town.

[jsf8278]

Don't worry folks, nothing taken personal by me. I can't say that I completely agree or disagree with your disagreement of my friend's statement .... just putting out what he had said from what he knows. I believe he might have said they are getting ready to de-water the site and that should take about two months. I can ask him again when I see him again.

We were at Crawdads on the river and another friend in the group of four had purchased one of the condos at the Towers. So there was some intriguing conversation about Saca not being able to pull off this project. In a nutshell, he said the cost of driving in the deeper piles for that high water table location and getting the site ready was already so high even before construction that it just wasn't going to pencil out financially. My other buddy that bought a condo insisted that the timing of the project (later in a down market rather than in, say, 2002) plus Calpers withdrawal doomed the project. My engineering friend is familiar with, and has worked with, some of the firms or people involved with the Towers project site so he does get to hear inside construction info around town.

I dont know much about construction costs and what goes into pre-construction cost analysis, but I highly doubt the Towers folks forgot to include in their estimate the impact of a high water table. If they did forget then they deserve this project falling apart.

[urban_encounter]

Nassi has tillAugust to secure the loan needed to fill the gap to then start the project. I don't think Nassi planned it this way. The price of the land has gone up several million since the first agreement was struck to by the land from Taylor..

It would be a shame if Aura doesn't happen because Taylor is hoping to cash in big on the property at 601 CM.

Though i imagine if Aura doesn't happen, it will be because Nassi wasn't able to get financing from lenders and not because Taylor is looking for more $$$ for the property.

[SacUrbnPlnr]

As a former buyer of an Aura unit (who backed out last December and purchased an L Street Lofts unit when it became clear that the Aura project was not going to happen any time soon), the dewatering and excavation explanations do not make sense, unless the project has been redesigned. The original construction and engineering drawings that I saw last year, confirmed by verbal representations from the sales manager, indicated that the Aura project was to be an above-ground project. The excavation was to be about three feet below surface level, at most.

SacUrbnPlnr

[Majin]

......anybody with insider information got any updates they want to share?

[travis bickle]

I dont know much about construction costs and what goes into pre-construction cost analysis, but I highly doubt the Towers folks forgot to include in their estimate the impact of a high water table. If they did forget then they deserve this project falling apart.

Yeah, I'd highly doubt this also. During due-diligence, you'll often do your cost projections in-house to get a basic idea of what you can do with the site. Some of these are more detailed than others. But by the time you get to the in-house approval (from your acquisitions committee or forward planning committee or bank loan committee, whatever you want to call it), you need to have a thorough understanding of what it's going to cost and you usually have hired some kind of outside cost consultant that specializes in the field and market to give you an accurate assessment. Certainly that was the case on a project the size, scope and cost of the Towers (or Aura). For a Sacramento-based firm not to have taken into account the water table is unfathomable. Just for starters, they would never be used again in the market and might as well pull-up stakes.

Now that doesn't mean you can't massage the numbers to get approval or funding. It happens. You also always include a contingency for unforeseen events that can range from 5% to 20% depending on risk (e.g. - if there is a lot of rock/boulders visible on the surface - your grading contingency is going to be high because even with the best testing, you're going to find a lot of boulders you didn't count on. These are referred to as, "rock jobs.").

But any PM or bank in Sacramento is going to demand a budget line item that accounts for extra costs from water-table related items.

[TowerDistrict]

I could be reading this entirely wrong - but I thought this was peculiar... Doing a permit search on 601 Capitol Mall I stumbled across what looks like a new building entirely. 621 Capitol Mall (US Bank building) is split into two parcels. There are no permits showing for the address of 601, but there is one showing on 621 that has a different "land area" number than all the rest of 621's permits. I'm not positive what that means, but I think it means a different piece of land entirely.

The following is a new permit, or inquiry pertaining to that parcel that doesn't seem to match the description of either Aura or the US Bank building. Let me know what you guys think this may mean...

Permit Number: COM-0711097
Type / Classification: Building Commercial New Building / Industrial
Address: 621 CAPITOL MALL SACRAMENTO, CA 95814
Parcel Number: 00601510140000
File Date: 7/17/2007
Status: BLDG_Com - Estimate
Status Date: 7/17/2007
Description: Industrial Fee Model 5

Total Sq Ft: 550,000 (US Bank is about 365,000)
Name: San Joaquin Partnership


:shrug:

[ltsmotorsport]

Very peculiar. Maybe Taylor got tired of waiting for Nassi, and found a developer with deeper pockets. :shrug:

[arod74]

Wow 550,000 sq ft is a mammoth building for that footprint. Nice find Tower. Maybe Shallit can stop writing fluff articles for a moment and dig into this.

[foxmtbr]

Wow, yeah, good find!

arod74, I love the signature. :haha:

[arod74]

Hahaha thanks. Can we all agree to spare the tree at the crocker and take the chainsaw to Robert Horry?

[goldcntry]

I'm second that! :tomato:

[ltsmotorsport]

Wow 550,000 sq ft is a mammoth building for that footprint. Nice find Tower. Maybe Shallit can stop writing fluff articles for a moment and dig into this.

That's what I was thinking. Maybe we will get something over 500ft on CM sooner that we thought.

[TowerDistrict]

Really all one needs to do is call the Development Services Help Line and ask if Permit #COM-0711097 pertains to the US Bank building already under construction, or a new building.

#916-808-5656

i'm just too chicken shit. heh

[BrianSac]

Really all one needs to do is call the Development Services Help Line and ask if Permit #COM-0711097 pertains to the US Bank building already under construction, or a new building.

#916-808-5656

i'm just too chicken shit. heh

They said a new building, 900 feet tall! (just kidding).
Dang place closes at 3:30!

[innov8]

This is most likely a project that went through Economic Development Dept.
without planning entitlements so I would not have the history of the scope of
work. The building department would not have any detailed information
because there have been no plans submitted for review or any preapplication
meeting. (A building estimate is just a form the applicant faxes
in to get an estimate for future fees.) I'll check into it tomorrow.

[TowerDistrict]

Cool. I figured the DSD could atleast distinguish which parcel this pertained to. And that would determine whether of not we were talking about a new building.

[neuhickman79]

I called this morning and the guy that had the answer was not there.

[ltsmotorsport]

Taking a Friday off, huh? Well, you'll just have to bug him on Monday then. ;)

[JeffZurn]

Did any one come up with anything???

[innov8]

The wheels of the City move slow, be patient :sleep: I'm certain it's because
it went through the Economic Development Dept. for a fee estimate.

Seriously though, a 550,000sf proposed office tower in Sacramento won’t
happen. Unless someone with deep pockets pays for 80% of the costs or
a big tenet is found to meet the banks requirements. It took 621CM five years
to get an anchor tenet big enough to meet the banks requirements for a 365,000sf tower.
A mixed use building would have a better shot at getting built at this size.

We should hear something on Aura in the month on August… up or down

[Cynikal]

Did any one come up with anything???

The building is 450 feet but I can't tell you how I found that ;)

[Cynikal]

Really all one needs to do is call the Development Services Help Line and ask if Permit #COM-0711097 pertains to the US Bank building already under construction, or a new building.

#916-808-5656

i'm just too chicken shit. heh


I doubt the help desk will know the height of buildings. It depends on what information is in the system.

[TowerDistrict]

i was just wondering if it was the US Bank building, Aura, or a new building... that's all.

but you say it's 450' which is the height of Aura. The description there says it's a commericial building not condos... it's still confusing.

[Cynikal]

450' is aura which is at 621 CM
US bank is at 601 Cm and is 400'

I'm going from memory so don't quote me on this.

[arod74]

The building is 450 feet but I can't tell you how I found that ;)

If the submitted building description is at all close, I dont see how the could squeeze 550,000 sq ft into a 450ft building next to 621cm.

[snfenoc]

US Bank is 621, not 601. Aura is 601.

The Contact listed on the permit search site for this mystery project is the San Joaquin Partnership. I called and they said..........................................................................................















They don't know a damn thing about this project. They only take part in much smaller commercial projects in San Joaquin County. The person with whom I spoke (a very friendly person) was flabbergasted that the SJQ Partnership's name was listed. He suspects there is a corrupted field entry in the database (which would make sense because the 621 address is also incorrect - you can't have two objects occupying the same space).