Posted Dec 16, 2017, 3:42 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,674
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Just have to wait. This reminds me of a Steinway or 125 Greenwich moment where we thought it wasn't going to rise, and now its shooting up. There's a lot that has to be done. Several sources of financing besides a pre-development loan are in order (which as ascertained earlier in Q1 2017 I believe).
The gears in motion for a super tall of this caliber is actually quite speedy. Consider that the average super tall takes 10-15 years from conception to completion. This varies depending on the city and circumstances, but I'd say 9 Dekalb is moving along nicely. We haven't seen a bulk of the hard stage yet, but remember that everything before that... design, financing, marketing ... are all part of the life-cycle of a development.
We first heard about this back in 2014. But before the reveal, lots of work went into this. Propety agreements, buy-outs, design, ect. So suppose this finished in 2022, even than, that's 8 years later, plus the time pre-reveal that was part of the development lifespan. Like I said, 10-15 years on average. Example being Verre, it will exceed the 15 year mark.
I feel a lot of people think construction is all that goes into a supertall, but its a lot deeper then that.
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