Quote:
Originally Posted by MIRYDI
I don't think a 1.8 million dollar lien on a 250 million dollar project is going to hold things up much. That's pretty much a drop in the bucket.
|
It's proved to be a problem that still wasn't addressed in the Tennessean article.
Quote:
|
As for the announcement about him finally securing financing, and the timing, are you suggesting that this is just some made up story by AP that he now has an equity partner and now has the capitol to proceed with the project?
|
I never said it was made up. Media relations are obviously important, especially when he's had a hole in the ground on West End for years. He probably agreed to partner with TPA a while ago and has decided to carefully chose when to go to the media. Have you noticed that every bit of news about possible new commercial space has been followed by news from AP? Damage control.
Quote:
|
Also, do you think that TPA group is willing to partner up with Palmer, and to help finance a dead project that is never going to happen?
|
Because if the project ever is completed they're probably going to make a sizable amount of money. Groups agree to invest in projects all of the time that are never built.
Quote:
|
Maybe, the ICH was part of the problem, and was making it more difficult to finance. Maybe by Palmer taking that part out of the project helped him secure the financing...
|
Since AP said that a hotel was a key part of WES, I wouldn't think that is the case.
Quote:
|
HCA "looking" at other options doesn't really mean much IMO. I mean, what are they supposed to do in a situation like that. They didn't know if AP was going to pull it off or not, so of course they had to have a backup plan. They have repeatededly said that WES is where they want Parallon and SCRI to be, and now that he has to the funds to start construction, I don't see why all of the sudden they would just say screw it and move out to some office park they didn't even want to be originally. Why bail out just got things got delayed by a few months?
|
Only a few months...
Quote:
I understand everyone's hesitation with this project, I really do, but to me having secured the financing necessary to start construction means no more begging banks for money, no more trying to sell this project to anyone, no more delays, and only thing left to do is start working.
If you have the money to start the project, why would it not happen? What at this point would be holding it up?
Again, I do understand everyone's reservations about this project, and it will probably take tower cranes going up to satisfy the naysayers, but to me this sounds like a done deal pretty much.
Guess we will find out soon.
|
Its honestly going to take WES being completed for me. There's nothing saying that construction won't be stopped with two half completed towers.
Hopefully Palmer will get it together though. These towers will drastically change the skyline.