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  #521  
Old Posted Dec 15, 2017, 8:52 PM
rhn94 rhn94 is offline
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probably a funding issue, usually is; a lot of these projects rely on huge parts funding coming in later as they start to build and rent/sell spaces with people getting confident that it'll get built
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  #522  
Old Posted Dec 16, 2017, 3:00 AM
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They are right where they are supposed to be, there is still no construction loan, but they were able to kick off construction. Work for the most part has been on the landmark itself, which like Steinway will add some time to the process. It's getting built. It will be completed. They're not on my timetable, so that's good enough. With so many things going up in the city, it doesn't bother me a bit.
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  #523  
Old Posted Dec 16, 2017, 3:42 PM
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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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  #524  
Old Posted Dec 21, 2017, 5:47 PM
TransitEngr TransitEngr is offline
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Quote:
Originally Posted by NYguy View Post
They are right where they are supposed to be, there is still no construction loan, but they were able to kick off construction. Work for the most part has been on the landmark itself, which like Steinway will add some time to the process. It's getting built. It will be completed. They're not on my timetable, so that's good enough. With so many things going up in the city, it doesn't bother me a bit.


Hey NYGuy... my memory is pretty bad, but I seem to recall the developer got a small preliminary loan to get things started. So my guess, is that they completed the demo/site clearing and assembled some of the caisson drill rigs on site and now they're lining up the rest???

Thoughts???
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  #525  
Old Posted Dec 21, 2017, 11:21 PM
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Originally Posted by TransitEngr View Post
Hey NYGuy... my memory is pretty bad, but I seem to recall the developer got a small preliminary loan to get things started. So my guess, is that they completed the demo/site clearing and assembled some of the caisson drill rigs on site and now they're lining up the rest???

Thoughts???
Sounds about right.
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  #526  
Old Posted Dec 22, 2017, 11:22 PM
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nylkoorB nylkoorB is offline
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Quote:
Originally Posted by TransitEngr View Post
Hey NYGuy... my memory is pretty bad, but I seem to recall the developer got a small preliminary loan to get things started. So my guess, is that they completed the demo/site clearing and assembled some of the caisson drill rigs on site and now they're lining up the rest???

Thoughts???
I have been following JDS Development on Instagram to keep up with this building and Steinway. Soldier piles have gone in back in March, and Caissons this past June.
https://www.instagram.com/p/BRKFSd6A...velopmentgroup
https://www.instagram.com/p/BVH6Onyg...velopmentgroup
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  #527  
Old Posted Jan 14, 2018, 1:57 AM
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