[enigma99a]

Edit: Sorry, they were parked on L & 9th.

They were only hauling away this:
http://img228.imageshack.us/img228/8731/aura172qe.jpg


Libeskind must have demanded it back :haha:

[doriankage]

I attempted to go Aura's website yesterday, but it wasn't there.
If they build Metro Place there, that would be awesome. I think that is one project the city really messed up on.
Aura would be nice. Anything would be nice.
So, around and round and round we go. What they will build? Only David Taylor knows.

[urban_encounter]

while i don't think that we're likely to see anything there for a couple of years, nothing would surprise me.

Libeskind owns the plans to Aura and they were probably taking the model back, (or something along those lines)..

Taylor owns the property and could probably pay Libeskind for the designs.

But i'm still not certain that Taylor can find the kind of financing in this market that Saca and Nassi couldn't find. And Nassi builds residential highrises for a living (supposedly)...

But Taylor does have connections with certain groups, (such as) the California Dental Association and now U.S. Bank..

It could very well be that Taylor seeing that both Aura and 301 CM couldn't get off the ground waited long enough to pick up the pieces..

The pieces being:

The InterContinental Hotel
The designs for Aura
Taylor already owns the property
The entitlements are in place.

We'll see if this big announcement amounts to anything in the next 60 days (or whatever).. I suspect it's nothing. But I wouldn't be surprised if Taylor announces that he's taking over Aura and building it as a hotel/residential mixed use tower like the Marriott..

[wburg]

I'm still not convinced that Saca or Nassi could find their own asses with both hands and a map, let alone financing or tenants. Taylor, on the other hand, has a track record, and the land, and the entitlements. It seems like a natural win.

[TowerDistrict]

conspiracy :sly:

maybe the financers of Aura pulled the carpet out from under Nassi to deal
with Taylor directly?

Whatever the news is, it must be very new and still developing, otherwise
Taylor wouldn't be paving a parking lot on the land.

[ltsmotorsport]

I'm still not convinced that Saca or Nassi could find their own asses with both hands and a map, let alone financing or tenants. Taylor, on the other hand, has a track record, and the land, and the entitlements. It seems like a natural win.

I agree with the sentiment about Nassi, but how can you say Saca couldn't find buyers? He had 300+ people ready to live in a building that didn't even get past foundation work?

[friedpez]

Out of all the projects proposed for downtown this is the one I want to see built. I think just the building itself would attract visitors to downtown, let alone whatever goes inside (hotel, residential, etc).

[ltsmotorsport]

stupid forum

[TowerDistrict]

I don't know anything about architecture outside of aesthetic appreciation,
but Aura seems like it's a fairly adaptable design. Wasn't there an article
a couple years ago (yikes) that showed how Aura was basically reused from
an initial design of a building in the World Trade Center redevelopment?
I thought the article explained that the building in NYC was to be 100% office,
and was adapted for residential by adding balconies amongst other things.

[SactownRob]

I don't know anything about architecture outside of aesthetic appreciation,
but Aura seems like it's a fairly adaptable design. Wasn't there an article
a couple years ago (yikes) that showed how Aura was basically reused from
an initial design of a building in the World Trade Center redevelopment?
I thought the article explained that the building in NYC was to be 100% office,
and was adapted for residential by adding balconies amongst other things.

Yeah, I wrote that piece for New York Magazine and the Bee picked it up soon after. You can find the original here:

http://nymag.com/nymetro/news/people/columns/intelligencer/11834/index1.html

[SactownRob]

The latest article from our own Rob Turner on Aura, "Save the Alham...Aura" is one of his best for sure! SacTown is the best magazine Sacramento has ever seen and if ever there were a writer who was this passionate about Sacramento and it's future it's Rob! Thanks for the first year, Rob! Here's to many many many more! :tup:

Thanks!!!

[neuhickman79]

Thanks!!!
You're the one who deserves the Thanks. sactown puts a face to what we discuss here and has a vision for what Sacramento is and should be! :)

[goldcntry]

Amen and Amen. Heaven knows we can't rely on the SacBeeast to get it right...

[BrianSac]

Yeah, I wrote that piece for New York Magazine and the Bee picked it up soon after. You can find the original here:

http://nymag.com/nymetro/news/people/columns/intelligencer/11834/index1.html

Yes, yes, many thanks to you, your wife and the team at Sactown Magazine!
Sactown Magazine is a great resource and you always to be one step ahead of me or just one step behind me in terms of what I am looking for regarding day trips and weekend trips in Northern Cal. Best of Luck to you in the New Year!

[cozmoose]

I was sent a free issue of Sactown magazine last week. I was impressed enough to subscribe right away! :) Keep up the good work.

[urban_encounter]

I was sent a free issue of Sactown magazine last week. I was impressed enough to subscribe right away! :) Keep up the good work.


It was probably my magazine sent to you by mistake.. ;)

I subscribed about six weeks ago and I'm still waiting for my first issue since I moved back..

[SactownRob]

It was probably my magazine sent to you by mistake.. ;)

I subscribed about six weeks ago and I'm still waiting for my first issue since I moved back..

Thanks for all the nice comments, guys. And Urban, it takes 4-6 weeks for new subscriptions to start, which means your subscription should start with the next one (since the latest came out 3 weeks ago). But send me your address and I'll pull some strings and hook you up with the new issue. ;)

[urban_encounter]

Thanks for all the nice comments, guys. And Urban, it takes 4-6 weeks for new subscriptions to start, which means your subscription should start with the next one (since the latest came out 3 weeks ago). But send me your address and I'll pull some strings and hook you up with the new issue. ;)



No problem at all Rob. Good things are worth waiting for and when I subscribed it said it takes about six weeks or so.


Just keep up the good work. SacTown is arguably one of the best publications covering any city....:cheers:

[Schmoe]

I've dropped the ball on my renewal. I'm afraid I'm going to miss one! :(

[urban_encounter]

Libeskind must have demanded it back :haha:

Which begs the question; who took the model and where is it now?

I wonder if it's sitting in David Taylor's office :hmmm:

[TowerDistrict]

Which begs the question; who took the model and where is it now?

I wonder if it's sitting in David Taylor's office :hmmm:

I was checking craigslist and eBay.. haha

[tuy]

Rob's magazine is great, but unfortunately not too relevant for me way down here in Tracy. I let my subscription lapse. However, I would recommend it for anyone in Sacramento or for those who go to Sacramento on a regular basis.

[innov8]

10, 9, 8, 7, 6, 5, 4, 3, 2, 1... 2008... and no announcement on the fate of AURA :(

[urban_encounter]

10, 9, 8, 7, 6, 5, 4, 3, 2, 1... 2008... and no announcement on the fate of AURA :(

Well on the bright side didn't the guys who picked up the model say an announcement would be made within sixty days?? (Not that i believe that Taylor is actually going to build it in this market).

Thry're finishing the parking lot which isn't a good sign.

But then again the sales office, mock up and sign out front are still there..

Who knows what's going to happen?

[innov8]

http://img262.imageshack.us/img262/2584/auraparkinglot20080111fbt2.jpg (http://imageshack.us)

It appears the doublewide model’s being dismantled. All the advertising around the trailers are gone and they look bare.

[urban_encounter]

:goodnight:

Aura.....

[urban_encounter]

http://img262.imageshack.us/img262/2584/auraparkinglot20080111fbt2.jpg (http://imageshack.us)

It appears the doublewide model’s being dismantled. All the advertising around the trailers are gone and they look bare.


Wild specualtion on my part, but what if Taylor decided to dismantle the double wide and build a mock up Aura condo inside 621, so that people can get a real view??

They still haven't dismantled the sales office or the Aura signage on Capitol Mall and in fact looking at Innov8's photo looking down on the sales office, it looks as if they did a little cleaning up of the landscape..


Fusey mentioned that on December 17th that he ran into people removing the model and that an announcement would be forthcoming within 60 days..

Now I'm not drinking the Kool Aid, but if I were David Taylor, I would build a kind of sales mock up in 621..

BTW the "60 days" offically will expire on Febraury 17th and while I'm not expecting anything to be built in this market, I still believe that if anyone can build a highrise residential tower in this town, then Taylor is probably the man..

Thoughts?

[jsf8278]

Wild specualtion on my part, but what if Taylor decided to dismantle the double wide and build a mock up Aura condo inside 621, so that people can get a real view??

They still haven't dismantled the sales office or the Aura signage on Capitol Mall and in fact looking at Innov8's photo looking down on the sales office, it looks as if they did a little cleaning up of the landscape..


Fusey mentioned that on December 17th that he ran into people removing the model and that an announcement would be forthcoming within 60 days..

Now I'm not drinking the Kool Aid, but if I were David Taylor, I would build a kind of sales mock up in 621..

BTW the "60 days" offically will expire on Febraury 17th and while I'm not expecting anything to be built in this market, I still believe that if anyone can build a highrise residential tower in this town, then Taylor is probably the man..

Thoughts?

There was a great article in the Dec/Jan SacTown about why Taylor could and should develop Aura. Seems to me it would raise the value of 621 having Aura next door. It sure doesn't help the value of 621 having a parking lot next to it.

[innov8]

Wild specualtion on my part, but what if Taylor decided to dismantle the double wide and build a mock up Aura condo inside 621, so that people can get a real view??

They still haven't dismantled the sales office or the Aura signage on Capitol Mall and in fact looking at Innov8's photo looking down on the sales office, it looks as if they did a little cleaning up of the landscape..


Fusey mentioned that on December 17th that he ran into people removing the model and that an announcement would be forthcoming within 60 days..

Now I'm not drinking the Kool Aid, but if I were David Taylor, I would build a kind of sales mock up in 621..

BTW the "60 days" offically will expire on Febraury 17th and while I'm not expecting anything to be built in this market, I still believe that if anyone can build a highrise residential tower in this town, then Taylor is probably the man..

Thoughts?

The AURA sign on the corner is gone along with the double-wide. I do know
that they won't be removing the other building for a while. Last Friday Tayor
got full ownership of the tower now that Turner Construction is finished with
their part of constructing the building.

That's a good idea Urban E about having a model built in 621CM :tup:

[urban_encounter]

The AURA sign on the corner is gone along with the double-wide. I do know that they won't be removing the other building for a while. Last Friday Tayor got full ownership of the tower now that Turner Construction is finished with their part of constructing the building.

That's a good idea Urban E about having a model built in 621CM :tup:


If the sign is gone then so is any glimmer of hope that Taylor intends to build Aura.

I guess we can always hope that he comes up with another plan for 601 CM within the next few years that will include a residential component...

I have to say though that 621 is very uninspiring and it's going to stick out like a sore thumb until that lot is developed.

[brandon12]

^well, I don't know if Taylor could even use the Aura name unless Nassi gave/sold it to him. Without an agreement between the two, I would suspect Taylor would have to rename it. But that's just a guess.

[ltsmotorsport]

Actually, I think Nassi had to give all rights of the tower back to Libeskind after the collapse of the project. Hopefully Taylor will be in contact with him, but it's doubtful.

[urban_encounter]

^well, I don't know if Taylor could even use the Aura name unless Nassi gave/sold it to him. Without an agreement between the two, I would suspect Taylor would have to rename it. But that's just a guess.


That's a strong possibility. (I mean a name change for the project)..

Taylor may think keeping the Aura name on a project that failed once isn't good business. It doesn't mean he can't take the entitlements (or plans) and build the tower anyway.

But looking at the site, I doubt they would have finished the parking lot if there were any chance he was intending to move forward anytime soon.


But really i doubt any highrise residential project is going to get off the gorund anytime soon. I think the return on a project just can't pencil out with how much it costs to build here.

As the discussion went on another thread; Sacramento has San Francisco sized construction prices, but can't get bank financing and probably can't get the kind of return that developers can in other parts of California.

I hate to turn skeptical in regards to highrise residential development; but after seeing Saca fail with nearly half the project pressold and the same for Aura (and they still couldn't control costs or nail financing), I just don't believe that it can be done here. Not until somebody proves otherwise.

Luckily there are still a number of high density low and mid rise projects either in the construction or planning phase, so downtown Sacramento will still see more residential units being built.

[SacUrbnPlnr]

That's a strong possibility. (I mean a name change for the project)..

Taylor may think keeping the Aura name on a project that failed once isn't good business. It doesn't mean he can't take the entitlements (or plans) and build the tower anyway.

But looking at the site, I doubt they would have finished the parking lot if there were any chance he was intending to move forward anytime soon.


But really i doubt any highrise residential project is going to get off the gorund anytime soon. I think the return on a project just can't pencil out with how much it costs to build here.

As the discussion went on another thread; Sacramento has San Francisco sized construction prices, but can't get bank financing and probably can't get the kind of return that developers can in other parts of California.

I hate to turn skeptical in regards to highrise residential development; but after seeing Saca fail with nearly half the project pressold and the same for Aura (and they still couldn't control costs or nail financing), I just don't believe that it can be done here. Not until somebody proves otherwise.

Luckily there are still a number of high density low and mid rise projects either in the construction or planning phase, so downtown Sacramento will still see more residential units being built.

High density urban projects, particularly residential, are very challenging to build right now in the Sacramento market. The most likely residential projects to pencil out without subsidies are three to five stories of wood-frame construction with podium or tuck under parking. Taller buildings with for-sale units might still be possible because developers can charge more if interior upgrades are included. It is harder for developers to charge the high rents needed to make a taller buildings with rental units pencil out.

[sugit]

No surprise, but it's official. Taylor and his partners are not building Aura.

The new issue of Sactown Mag came out today and they quote Taylor as saying they will not be building it.

Two reasons:
1) They could not get ownership of the architectural plans in a timely matter.
2) and more significant, the economy. Housing slump and construction costs.

It says though Taylor has not given up on residential on the property and that a hotel might also be part of the mix.

[urban_encounter]

No surprise, but it's official. Taylor and his partners are not building Aura.

The new issue of Sactown Mag came out today and they quote Taylor as saying they will not be building it.

Two reasons:
1) They could not get ownership of the architectural plans in a timely matter.
2) and more significant, the economy. Housing slump and construction costs.

It says though Taylor has not given up on residential on the property and that a hotel might also be part of the mix.


Construction costs will always be a problem and it will never improve..

[Majin]

I just can't understand how Sacramento is in such a uniquely bad position to get high rise residential developed.

I love my apartment but I would like to buy my own place someday. From the looks of things I'll have to build it myself.

[jsf8278]

I hate to be the barer of (yet more) bad news, but SacTown Magazine reported in there latest issue that they spoke to Taylor and he decided against building Aura for two reasons. First, he wasn’t able to acquire the architectural plans in a timely manner. Secondly, as you guessed it, the housing market would have made the project cost prohibitive.
If there’s a silver lining the article reported that Taylor thought the lot will eventually support a residential aspect, and possible some type of hotel.
We should probably close this thread down...its a bummer just looking at it.

[urban_encounter]

I hate to be the barer of (yet more) bad news, but SacTown Magazine reported in there latest issue that they spoke to Taylor and he decided against building Aura for two reasons. First, he wasn’t able to acquire the architectural plans in a timely manner. Secondly, as you guessed it, the housing market would have made the project cost prohibitive.
If there’s a silver lining the article reported that Taylor thought the lot will eventually support a residential aspect, and possible some type of hotel.
We should probably close this thread down...its a bummer just looking at it.


You're kidding? Where did you hear that?

;)

I hate to say it jfs8278, but you you tend to come in a bit late with the news from time to time..

[jsf8278]

oh i suppose i should have read the two posts up. I got lazy reading everyone's interpretation of what it meant to move a sign.

[downtownserg89]

reading this thread got me teary eyed! :( :(


GOD, aura would've been so cool.

so so so so so cool.

[Phillip]

Aura would have been a dramatic addition to Downtown's skyline, agreed. But in another way Sacramento's lucky to be spared the troubles that have attached to some of Nassi's other projects. This is from yesterday's Denver Post, about Nassi's completed Beauvallon condo in downtown Denver.

http://www.denverpost.com/breakingnews/ci_9433894



Suit hurts Beauvallon condo sales

Beauvallon HOA fights developer

By Margaret Jackson
The Denver Post
Article Last Updated: 06/01/2008 09:57:19 AM MDT


Owners with units for sale in the towering Beauvallon building at East 10th Avenue and Lincoln Street are struggling to sell their units because a lawsuit against the developer is dissuading potential buyers and hanging up financing for anyone still interested.

The suit, filed by the homeowners association, stems from alleged construction defects in the two-tower European-style condo building. It adds an extra layer of difficulty for owners already grappling with a deflated housing market and competing with lower-priced foreclosures in the building.

"If there's a lawsuit between the builder and the HOA, most lenders will not lend on it if it's in process and not resolved," said Chris Starks, senior loan officer at First Class Financial Services. "They're just trying to protect themselves. That's just standard lending practice."

Of the 26 properties listed for sale in the 210-unit Beauvallon, 12 are either in foreclosure or listed for less than the seller owes on the mortgage. Some real estate agents said they have cautioned their clients about purchasing in the building.

Several residents and sellers in the building declined to comment on the building or the lawsuit.

The lawsuit, filed last year against developer Craig Nassi and BCN Development, Swinerton Builders, Darlene Sandoval and Big Horn Plastering, gives a laundry list of problems with the building.

Improperly installed copper and metal roofing resulted in water damage to the penthouses and other units. Water damage to the units also occurred because of improper installation of exterior wall vents, balconies and decks, according to the lawsuit.

Other problems include improper installation of the pool filter system, hot tub and related equipment; leaks from the parking garage into John Christian Jewelers; and failure to install garage doors, resulting in unsecured entry into the building.

"We're still in the middle of our expert investigation," said Joe Smith, an attorney with SullanB, Sandgrund, Smith & Perczak PC who is representing the homeowners association. "Our goal is to identify everything that is wrong and recover money for the association so it can implement the repairs."

Attorneys for the defendants could not be reached for comment, but Nassi said Swinerton is working to fix the problems that have surfaced.

"It's all minor issues, nothing structural or operational," Nassi said via e-mail.

Kevin Ott, vice president and division manager of Swinerton's Denver office, said that the company fixed many of the problems but that the HOA told it to stop while it was doing more investigation.

"There are a lot of things that are noted in the lawsuit that are not our contractual obligation to take care of," Ott said. "There are a lot of things Mr. Nassi said he would deliver, such as the remodel of retail space on the first floor, which we didn't do, and things that were done by other contractors after we left."

Nassi said it's common for the HOA to sue the developer and builder to go after the insurance policy. They recover a sum and split it with the specialized law firm they hired, he said.

"This happens to every big development," Nassi said. "This is why this law firm is so wealthy."

Dee Tyler, a spokeswoman for the Community Associations Institute, said that if the work is shoddy, it's common for HOAs to sue. Developers typically put their projects in limited-liability companies, which makes it easier to go after the insurance, she said.

"In the few litigations I've been involved in as a homeowners association, there's been good reason because there have been construction defects found," Tyler said. "I don't think people are trying to be frivolous. They just want to live in a home that is built correctly."

The association gave notice of the claim to both Swinerton and BCN before filing the lawsuit, but there was no meaningful offer to repair the building, said attorney Scott Sullan of SullanB, Sandgrund, Smith & Perczak.

"Nassi is asking the association to assess itself to pay for the repairs as opposed to standing behind his product," Sullan said.

The trial is set for February.

The lawsuit also alleges that Nassi and his co-defendants did not provide the association with sufficient reserves and did not conduct a proper financial audit. That has caused the HOA to raise fees several times, forcing a number of residents in the building into foreclosure, it alleges. HOA dues for the penthouse units are more than $1,300 a month, and fees for an 800-square-foot unit are nearly $400 a month.

"People can't afford the mortgage and the HOA," said Emmett Carr, an agent with Keller Williams Preferred Realty who has a listing in the building.

Many of the units are priced way too high, said Sharon Shepherd, an agent with Distinctive Properties Ltd. who also has a listing in the building.

"A lot of the sellers have first and seconds (mortgages) on their loans," she said. "When they refinanced, their property was appraised for more than it should have been in order to get the second. I've gotten some calls from investors, but the numbers aren't working for them because the sellers can't go low enough."

Residents may get some satisfaction from the lawsuit, but any award will not include the businesses located there.

Doug Naiman, owner of Aviano Coffee, said he has had numerous issues with the building. The parking structure above his shop vibrated as cars drove over it, cracking the walls of his store.

BCN didn't install gutters on the ledges, which results in water pouring from the roof in front of his entrance as the snow melts. The water freezes overnight, creating a slippery patch of ice that is then heavily salted, killing the grass and destroying the shop's floors as customers track it in, he said.

Naiman said he holds city inspectors responsible for many of the issues.

"The city has code requirements for gutters," said Naiman, who has two hours of video showing various problems with the building. "The city should be held liable too."

Naiman is considering filing a lawsuit of his own.

The city's building code was amended in 2004, the year the Beauvallon was completed, said Julius Zsako, director of communications for the city planning department.

"Gutters are not mandatory in both the International Building Code and the International Residential Code; therefore, Denver will not require gutter permits to be issued," Zsako said. "But there are some pretty substantial drainage requirements and systems required on rooftops."

[Phillip]

It's 2009. Can we still talk about Aura?

Settlement reportedly reached in Beauvallon homeowner suit against developer

Denver Business Journal - March 11, 2009
by Paula Moore, staff writer

http://denver.bizjournals.com/denver/stories/2009/03/09/daily46.html

Parties in a negligence lawsuit related to the Beauvallon condo tower have reached a settlement agreement, according to one side.

The Beauvallon is located at 925 Lincoln St. in downtown Denver.

The condo property’s homeowner group, the Beauvallon Condominium Association Inc., sued project developer Craig Nassi of BCN Development LLC, as well as project contractors in 2007 in Denver District Court. The association alleged BCN and the contractors were negligent in the condo tower’s construction, resulting in construction defects and repairs that cost the association $21.7 million to remedy.

The parties had been in mediation since last year, and most recently had settlement conferences in February and on March 9, according to lawsuit filings.

“The only comment I can make is that a settlement has been put in place,” said a Beauvallon Condominium Association Inc. spokeswoman. “It just happened, so there are no details.”

Joseph F. Smith III of Denver law firm Vanatta, Sullan, Sandgrund, Sullan & Smith, who represents the condo association, declined comment, except to say the parties have been in settlement discussions and the case is “still pending.”

Attorney Chuck Weaver with Wood, Ris & Hames of Denver and representing defendant Beauvallon Corp. was unavailable for comment Wednesday afternoon. Beauvallon Corp. is the Nassi entity that developed the Beauvallon condos.

The 14-story, $100 million Beauvallon was completed in 2005. Asking prices for condo units there initially ranged from $235,000 to $2.2 million.

By 2007, according to the negligence suit and a letter to condo owners, the Beauvallon homeowner’s association had dealt with construction defects and repairs that cost $21.7 million, including replacing the building’s entire exterior.

In addition to Beauvallon Corp., Nassi and BCN, other defendants in the suit include Swinerton Builders and Bighorn Plastering Inc.

The suit’s original complaint, filed April 25, 2007, lists more than 80 problems with the Beauvallon building — from failure to install security cameras in elevators and leaks in the parking garage to failure to install garage doors.

Beauvallon Corp., Nassi and BCN contend the building was constructed within industry standings, and in a “good and workmanlike manner,” according to lawsuit filings. Defendants further stated the building was “fit and sound” for use by condo owners.

Nassi currently isn’t working in metro Denver, and moved BCN’s headquarters to New York. The company still is incorporated in Colorado, according to Colorado Secretary of State records.

[SacTownAndy]

^ I see that building almost everyday and it's got to be one of the ugliest, p.o.s. looking condo towers around.

[Web]

^ I see that building almost everyday and it's got to be one of the ugliest, p.o.s. looking condo towers around.

Nassi was and still is a greedy sob......and we built this to current stds.....what a load.