Any idea how this will effect Villa Teresa? Think VT is on board with this development?
Any idea how this will effect Villa Teresa? Think VT is on board with this development?
Oil taking a dive at the wrong time for this project. Hopefully that remedies itself before Q2 so that this thing can have a chance...seems like a lot of these projects have about 9-12 months of interest and if they don't gather sufficient support by then they fizzle.
I understand they have 6 pre-solds at this point. A big demographic is empty nesters who don’t want to maintain a large home and yard in areas like HH, MP, CH, etc. That’s also a Villa T target market albeit some people don’t want to be in a large multi-story building as opposed to a more single family/townhouse type structure and parts of VT would be more for them. I agree it will be interesting to see how these move beyond this initial push.
I wouldn't say the fear would be for the the job/income itself, but a certain psychological sense of security in jumping into an investment of this size, or even a windfall from a bonus or profit sharing that could be used to make the type of down payment that is needed to justify this kind of purchase.
I saw this came before the Downtown Review Comm - the Villa Teresa folks spoke against it. Appears it was continued to a later date.
Did you catch what their issues were with it? I am interested to know.
Well crap. I am supposed to meet with both of these places within the next week or two.
You would think it would be best to work together than to stall each other.
do the Villa Teresa people have issues with it being 8 stories?
What kind of issues would the height cause at Villa Teresa? The Physicians and Surgeons building 1/2 block to the west is 11 stories. I don’t understand how DDRC struggled to approve this? DDRC decisions always seem conflicting or political.
In the DDRC guidelines for this area, is 8 stories not permitted without a variance?
I respect what she did with the Seiber, but the "Marva takes her time" narrative is getting old. I had brunch today at the Pump and it is obscene that she is just sitting on those nearby parcels, not only the boarded up multiplex but the empty lots as well. This is prime for housing development, and possibly mixed-use development. I know there's no way to force her hand but it is disappointing to see her drag this out. The neighborhood is on the verge of explosive growth and she is just moving at a snail's pace.
I don't always agree with Rand's aesthetic, and he too has been guilty of criticizing worthy developments, but we need the Elliott. It is a stud development in the perfect location. The design is top notch, extending the urbanity of the area while preserving historical architecture, and adding modernity. To oppose this project almost seems personal or even vindictive. I have no idea what their relationship is and I don't care but I would expect Rand's project to be completed before Marva even begins work on the Villa Theresa site.
Marva and HH worked with the developers of the Commons to improve the the design because it was such a prominent property for Midtown, HH and Sosa. HH hired Randy Floyd to help the developers architects tweak the design.
The developers were very pleased with the outcome and the accolades they received for the project.
When Marva consequently acquired VT with her partner, one of the first investors were the developers of The Common. Their comments were their confidence that she cared so much about something she didn't own that they knew Villa T would be a great project.
This seems very lame to argue about, especially from a group trying to do their own condos across the street. Arguing about height? Theres an 11 story tower 300ft from this. I suspect this gets passed without any changes. This is midtown, there is and should be diverse sizes, heights and uses.
I think the bigger battle for the developer will be securing the deposits and commitments for financing this thing.
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