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  #341  
Old Posted Sep 23, 2015, 11:45 AM
ConstructStudent ConstructStudent is offline
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Originally Posted by BenKatzPhillytoParis View Post
Exactly. There has never been any delay. A Fall 2015 groundbreaking has always been the schedule as long as there's been one.
Hate to rain on the parade but there is a 95% chance that this will not break ground until next year. There are many reasons for this but I can not risk my career in doing so. Once I get updated information I will post it.
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  #342  
Old Posted Sep 23, 2015, 12:08 PM
1487 1487 is offline
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Hate to rain on the parade but there is a 95% chance that this will not break ground until next year. There are many reasons for this but I can not risk my career in doing so. Once I get updated information I will post it.
Dranoff rep is quoted as saying construction will start early 2016. No reason provided for the slippage. What is going on here? Why was the building torn down so far in advance of the project starting? Smells like funding issues to me.
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  #343  
Old Posted Sep 23, 2015, 1:12 PM
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California-based SBE Entertainment Group plans a 152-guest-room SLS hotel on South Broad Street in a project that will also include 90 condo units.

Crews have finished preparing the site for construction and plan to begin building in early 2016, said Marianne Harris, marketing director for Dranoff Properties, the developer.


Read more at http://www.philly.com/philly/busines...vCpgS642Vhi.99
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  #344  
Old Posted Sep 23, 2015, 1:40 PM
Philly Fan Philly Fan is offline
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Originally Posted by TallCoolOne View Post
California-based SBE Entertainment Group plans a 152-guest-room SLS hotel on South Broad Street in a project that will also include 90 condo units.

Crews have finished preparing the site for construction and plan to begin building in early 2016, said Marianne Harris, marketing director for Dranoff Properties, the developer.


Read more at http://www.philly.com/philly/busines...vCpgS642Vhi.99
This portion of that article might explain why the start of construction has been pushed back to early 2016:

Quote:
The projects are moving forward amid reports that SBE chief executive officer Sam Nazarian was in talks to merge with the Hudson Hotel's New York-based corporate parent, Morgans Hotel Group. The Wall Street Journal reported last month that Nazarian would become CEO of the combined company if the merger took place.

Shareholder Rambleside Holdings said it objected to such a merger and offered to buy the New York Hudson and a Florida hotel from Morgans for $507 million, while saying it might make a bid for the entire company.

Even if a merger occurred, the luxury-class, California-bred SLS and the more affordable, East Coast-inflected Hudson are different enough to share the market under the same corporate umbrella, said Andrew Benioff, a hotel specialist at Philadelphia's Llenrock Group real estate finance and advisory firm.

SBE spokeswoman Robin Paul would not comment on the impact in Philadelphia of a possible merger. Morgans spokesman Nathaniel Garnick did not respond to a phone message seeking comment.

"What an SLS is and what a Hudson is, they're very distinct," Benioff said.
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  #345  
Old Posted Sep 23, 2015, 1:57 PM
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SBE spokeswoman Robin Paul would not comment on the impact in Philadelphia of a possible merger. Morgans spokesman Nathaniel Garnick did not respond to a phone message seeking comment.
See? Now there's a reason to be all doom and gloom.
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  #346  
Old Posted Sep 23, 2015, 2:07 PM
BenKatzPhillytoParis BenKatzPhillytoParis is offline
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See? Now there's a reason to be all doom and gloom.
Damn. Well, as 1487 said, it is really enervating when they demo so far in advance, especially without absolute certainty something can be built. Completely irresponsible.
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  #347  
Old Posted Sep 23, 2015, 2:20 PM
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The demo'd buildings were no loss IMO.

Even if SLS doesn't happen, it's a great site and I'm pretty sure something else, perhaps more modest, would happen within a relatively short amount of time.

But the old buildings on the site were totally generic as well as vacant and blighted. A development-ready parcel is better in this case IMO.
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  #348  
Old Posted Sep 23, 2015, 2:41 PM
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I agree with Cro, no great loss.

And isn't the hotel portion of this tower just that, a portion? IF SLS dropped out (and I really hope they do not), couldn't Dranoff just find another hotel operator? Or he might have to go back to the drawing board and develop the lot as a residential only tower. I see that as the worst case scenario. I'm still optimistic.
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  #349  
Old Posted Sep 23, 2015, 4:43 PM
joemustardo joemustardo is offline
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Based off the information above, I'm a little confused. So basically the CEO of SBE is trying to complete a merger with Morgans Hotel Group. If they merger is successful, does this mean that SLS International won't get built?

What are the chances in this building getting cancelled? I Love, and I mean LOVE this building, the design, and location.
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  #350  
Old Posted Sep 23, 2015, 5:24 PM
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Originally Posted by joemustardo View Post
If they merger is successful, does this mean that SLS International won't get built?
Joe, relax! Everything you have read is conjecture. There is no new information other than that there are merger talks. Probably no one knows - maybe not even Dranoff and the top people at the hotel companies - what is going to happen to SLS . . . . and that may have been so even before the merger talks began. We all know at this point that until the financing is closed and the site work is well underway, most RE ventures are never a sure thing. No difference here.

The world could disappear in a quantum blip tomorrow but probably won't. Would you worry about it? No point in trying to anticipate news that may never happen.
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  #351  
Old Posted Sep 23, 2015, 5:44 PM
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We don't have anything to worry about guys. Dranoff and SLS are saying this is a done deal. I really don't even think it's a matter of if this happens, it's just a matter of when.
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  #352  
Old Posted Sep 24, 2015, 3:53 AM
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As long as the tower crane's up in time for the DNC

(IIRC the parking's all structured, no? So that means there won't be much/any bulk excavation and it'll sit on pilings instead? That'll get the crane up right quick.)
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  #353  
Old Posted Sep 24, 2015, 4:03 AM
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Quote:
Originally Posted by Cro Burnham View Post
The demo'd buildings were no loss IMO.

Even if SLS doesn't happen, it's a great site and I'm pretty sure something else, perhaps more modest, would happen within a relatively short amount of time.

But the old buildings on the site were totally generic as well as vacant and blighted. A development-ready parcel is better in this case IMO.
Agreed. The demoed lot is more valuable than the previous separate parcels. Glad the lot is already consolidated. It makes it that much easier next time.

This is the one last project I'd love to see, at least in this building cycle. If this building gets built to advertised spec, it would be the tallest on broad and the tallest in the city east of Broad.
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Philadelphia transportation thread: http://forum.skyscraperpage.com/showthread.php?t=164129
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  #354  
Old Posted Sep 24, 2015, 12:01 PM
ConstructStudent ConstructStudent is offline
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Originally Posted by hammersklavier View Post
As long as the tower crane's up in time for the DNC

(IIRC the parking's all structured, no? So that means there won't be much/any bulk excavation and it'll sit on pilings instead? That'll get the crane up right quick.)
The current design (which is not 100%) for the foundations are some caissons and a mat slab foundation. This will also have a basement so yes there will be bulk excavation for this.
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  #355  
Old Posted Sep 24, 2015, 4:35 PM
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The current design (which is not 100%) for the foundations are some caissons and a mat slab foundation. This will also have a basement so yes there will be bulk excavation for this.
I'd also like to point out the bulk (heh) of bulk excavation at the Mormon, CITC, and W sites are for their underground parking. I was kind of surprised that 1919 went up without a basement level tbh.

If the foundations are akin to FMC's or Evo's, then it shouldn't take long to get going.
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  #356  
Old Posted Oct 3, 2015, 1:05 PM
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Regarding the early demolition - I would wager it has several factors that contribute, and none of them have anything to do with managing our (or any other uninvolved party's) expectations.

Things like:
- The liability of an empty building in disrepair - waiting for someone to sue them over something.
- The risk of a prolonged fight over preservation. While some have commented on the "bland" nature of the buildings standing, the connection to the once booming Philly music industry would have been more than enough reason if some people may have wanted to rekindle a preservation fight.
- The bidding process for demolition, the contractor's scheduling, having the site ready to go, possibly some tax implications, consolidating the site, etc.

To recap: It's not about you. It's about money. and lawyers.
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  #357  
Old Posted Oct 3, 2015, 2:14 PM
Larry King Larry King is offline
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My guess is the demo happened early because Dranoff can run that job himself without involving his GC yet (intech?)
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  #358  
Old Posted Oct 5, 2015, 1:45 PM
ConstructStudent ConstructStudent is offline
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My guess is the demo happened early because Dranoff can run that job himself without involving his GC yet (intech?)
The demolition was run by Hunter Roberts.
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  #359  
Old Posted Oct 5, 2015, 2:14 PM
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The demolition was run by Hunter Roberts.
So, is this thing going to happen more or less as it appeared in its previous iteration or not?
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  #360  
Old Posted Oct 26, 2015, 10:36 PM
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I was told today:

-Financing is in place
-The sales office for the condos will open in April/May 2016
-Groundbreaking will be very early 2016 but we could see site work before then
-The hold up has to do with permitting, and a reworking of the foundations based on the site layout. The design and height will remain the same.
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