 Kannekt Forum Index A Condominiums  How's Construction Coming along?
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Re: How's Construction Coming along? | #11 |
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Anonymous
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This is going to be a beautiful building. There is nothing like this currently in the area. I think it's going to make the whole area a lot nicer. Can't wait to see the finished product!
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Re: How's Construction Coming along? | #12 |
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Anonymous
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I hear your building will get done in March 2008
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Re: How's Construction Coming along? | #13 |
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Anonymous
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Does anyone know why construction has ground to a halt? Why is Shore Club construction making so much progress while A Condos can't get out of the ground?
A Condos sitework commenced shortly after Shore Club sitework started, so I expected A Condos construction progress to mirror Shore Club, leading to the promised 2007 opening. Usually, construction stoppages happen because the developer ran out of cash and can't get a construction loan. The reason a developer can't get a construction loan is because lenders examine the project and conclude it will be a failure. Maybe this is happening with Athena and A Condos. |
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Re: How's Construction Coming along? | #14 |
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Anonymous
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Quote:
A Condos sitework commenced shortly after Shore Club sitework started, so I expected A Condos construction progress to mirror Shore Club, leading to the promised 2007 opening. Can anyone confirm or deny these details? |
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Re: How's Construction Coming along? | #15 |
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Anonymous
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I can confirm that the work has not stopped. THey wake me every morning at around 7 driving pilings in to the ground. Once the foundation is set then you are going to see progress.
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Re: How's Construction Coming along? | #16 |
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Anonymous
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Quote:
This is misinformation. A and Shore Club did not break ground at the same time or even close. As I remember, Shore Club broke ground in May 2005 where A broke ground in December. Construction on A has not stopped - they have been driving piles for the past several months, which is how long it takes. A has never promised spring 2007 move-in dates - end of 2007/early 2008 is what I was told and that seems to be on track. |
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Re: How's Construction Coming along? | #17 |
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Anonymous
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ShoreClub did break ground a bit earlier.. but one difference is that except for maybe 4-8 units, SC is sold out. So the developer has "gotten" his cash and there is nothing stopping him from going full speed ahead so that they (Lefrak) can focus on future projects. The risk of not selling and not recovering money is minimized. In fact, with rising interest rates and a downturn in housing, its probably in his best interest to finish construction on schedule so people don�t back out in case interest rates go too high or prices go too down. Plus, the weather was favorable as well which helped make up for any delays (like the October rains).
I am not sure how much A has sold yet (I heard over 50% but cannot confirm this). In a down turning market, if a developer is having problems selling units, I'm sure they will look to see if its worth continuing or not. This has already happened in places like Vegas, etc. I'm not saying this is the case with A but won't be completely un heard of if something like this didn�t happen to some JC projects. |
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Re: How's Construction Coming along? | #18 |
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Anonymous
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A's construction has not been halted one bit. Driving piles for a 33 story tower takes many months. I know because I remember living at Portofino when they were building the Marbella...seemed like it took them a year to drive piles for that thing!
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Re: How's Construction Coming along? | #19 |
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Anonymous
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that's a big exaggeration. they started digging for sc in march, by the time i woke up and scurried to the sales office (in june) - it was all done and capped with concrete. but from the newport experience of living for years with construction around my building - it seems to me a condos pilons are going in very slowly. may be it has to do with the weather?
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Re: How's Construction Coming along? | #20 |
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Anonymous
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No. You need more piles for a 33-story tower than a 26-story tower. And they've only been driving piles for 2 or 3 months. They were doing their test piles in December.
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