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As for the second part of the my question, will there be a lighting scheme installed at the base of the san diego/coronado bay bridge? info needed here... |
Major Pour at Hotel Indigo
Looks like we can expect this to start coming out of the ground in the next couple of months. The 1st foundation pour has been going on at Hotel Indigo this morning.
http://i178.photobucket.com/albums/w...1/DSC_0001.jpg This thing should go up pretty quick... |
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This is the only thing I could find on it
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cosmo square is still a go....... but not for 6 months.. it will be a parking lot for this summer, but should see some action this fall...
The giant Grigio Is also it going to get a roof top club, I can't think of the clubs name in LA , something like the "Orient" (think of the standard in LA). anyways my friends are stoked because the "orient?" is a great club |
Where did you find that information?
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where did you get the info?? some people on here are saying it is definately dead, but nobody ever spills the sources so it's hard to tell if people have tangible information from reliable sources they are trying to keep discreet, or if they are just stating their opinions :( |
my sources......
I have 2 buddies that work in the construction business....
One for Morley builders, does work in LA, orange county and SD http://www.morleybuilders.com/ The other for Oliver Mcmillian http://www.olivermcmillan.com Its not like they divulge any secrets or anything... They just talk about some of their bids that they are making.... In general, they are both saying that most developments are NOT being cancelled, just postponed for 3 to 5 years.... Alot of "rights" on pre-approved proposals are being sold among investors... on a side note, the BallPark village is a two five hundred foot tower complex still (mixed use, about 80% hotel space) and is moving fast.... construction bids have gone out and every construction company in southern Calf, wants it... It Going to be HUGE and will dramatically change the SD skyline!!!!!! I know about Comso, because Morley is going to use the cosmo lot to store some equipment over the summer... but could only sign a 6 month lease because.... Doug manchester wants to develop on it begining this fall... Is that enough evidence?? |
Sounds like some good stuff. Keep us posted! :tup:
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Will this city ever let Doug Manchester build anything ever again? ;)
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I don't want to sound like a cynic, but I doubt many projects ever just get cancelled. Outside of new issues that may arise with a project proposal; like unforeseen city criteria, competing developments, financials that just have fallen apart, etc... I'd speculate that the standard line is that a project is postponed is quite normal. And they end up sitting and sitting and then they are eventually all forgotten about. The internet and sites like this help keep those proposal in our consciousnes. |
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All I know of him is the huge flag office building and the manchester...not been here in SD for too long, can someone fill me in? |
I don't get it either. :P
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My skepticism arises from the evidence that there will be ZERO demand for new hotel rooms on this side of town after the new Hilton, Indigo and Marriott Residence Inn are complete. Setai/Diegan will also be adding a few hundred rooms in the next few months. From http://www.sandiego.com/option,com_s...-ee64927e8447/ "Increased Supply Almost 2,000 new rooms will enter the market in late 2007 and on through mid- 2008. These include the opening of the Hard Rock Hotel with 393 rooms, The Diegan in March 2008, 185 rooms, the Homewood Suites, which opened in September of 2007, and the Courtyard by Marriott, 200 and 150 rooms respectively at Liberty Station/Point Loma, the Hilton Garden Inn San Diego/Del Mar with 80 rooms in February, The Grand Del Mar Resort & Spa, 261 rooms, the Sheraton Grande in Carlsbad, 250 rooms, the Hampton Inn and Homewood Suites, both set to open in Carlsbad in January, 2008 with 94 and 145 rooms respectively, and the Hampton Inn & Suites in Poway with 111 rooms in March of this year. The 1,869 rooms flooding the market represent only half of the planned room additions to San Diego. Perhaps the most significant of these additions is the expansion of the SD Hilton Convention Center. This 1190 room property will open in late 2008. This three percent increase in supply will cause occupancy rates to drop by two full percentage points unless major demand increases occur." On top of that, there is negative demand for new condos in East Village for at least 3-5 years. Doug Manchester is buried in litigation on Navy Broadway Complex. He is also heavily involved in Lane Field. I don't see his creditors and financial backers allowing him to pry his attention away from those two megaprojects to develop a small competing site across town. |
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I agree with you that things are not good right now and that people in the development biz like to paint a rosier and more optimistic picture than the facts show, but some of your thoughts seem to be overly-pessimistic in the way others are overly-optimistic. For example the statement above - the one thing I have learned from living downtown and having owned real-estate in San Diego is that any speculation - positive or negative - beyond 1 year is a craps shoot. How can you say for certain 2009 won't see the housing/condo market begin rebounding? Where is this "at least 3-5 year" figure coming from?? Also, I don't think developers would start new hotels if the market research didn't indicate there is a market for them. Don't they take into consideration new hotels like Hilton, Setai, etc when they do their market research |
another thought on hotels
Has anyone heard of plans to expand the convention center?
That could drive-up the need for hotels |
Manchester
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Manchester is the poster-child for this. He is very "political" and is known for making back-room deals with local officials and being very chummy with government officials who directly affect his business and make decisions on who will be awarded development contracts, what environmental requirements are necessary, etc., and he was bailed out using tax-payer dollars when his company declared bankrupcy I think alot of people just want to see "new blood" in the big development world |
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Intuition should tell most people that the thousands of unsold units in The Mark, Electra, Alta, Vantage Pointe, Bayside, Saphire, and the rest probably indicate a market slump. Add the 600+ units on MLS (12 months worth of resale) and I would say that there will be an abundance of units for at least 5years. That could change if prices are cut in half but that would be a bigger problem. "MARKET RESEARCH" (Jim Cramer) was telling everyone to not sell Bear Stearns stock last week (it was still worth $3.5 billion on Friday). Guess what it is worth 72 hours later? Less than $500 million. Do you know where the MARKET RESEARCHERS get their information? See a classic example below: Bear Stearns: 'Absolutely No Truth' In Liquidity Rumors March 10, 2008: 05:28 PM EST DOW JONES NEWSWIRES Bear Stearns Cos. (BSC) backed its liquidity position, issuing a statement declaring "there is absolutely no truth to the rumors" that circulated earlier Monday. President and Chief Executive Alan Schwartz said in the statement, "Bear Stearns' balance sheet, liquidity and capital remain strong." Shares of Bear Stearns closed down $7.78, or 11%, at $62.30 on more than four times average daily trading volume of 7.31 million shares. Shares were up 42 cents at $62.72 in recent after-hours trading. The company is due to release its first-quarter earnings results on March 20." JP Morgan announced over the weekend that it is buying the entire company in a stock swap for somewhere in the $2 to $5 range. I guess the MARKET RESEARCHERS didn't see a 60+ point potential drop in 7 days. |
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