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Originally Posted by OKTX
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EOY 16 is only 5-6 months away. According to that article they don't have permits or a hotel brand signed up yet, although he says he's close on the hotel. It takes about 9 months to get a permit through the city for something this large. Under-construction by the end of 2017 is doable if he's got everything teed up and ready to go, including construction loans, contractors, permits, hotel brand buy-in, etc. Sutton Co. is not know for being incredibly proactive. I'm guessing he's being optimistic about the start dates because he's speaking at the Bisnow Multifamily Conference. He still has a window to pull this off so I wouldn't count him out. I'm not entirely optimistic that it will happen this development cycle, however. [In both of these quotes, the
emphasis is mine.]
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Likewise, he’s already nearly finalized the flags for the Waller Park Place hotel project, and says that market is strong.
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Mac hopes to be under construction on the multifamily/office building by the end of 2017; he tells us his team will start the permit process almost immediately.
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Edited to add the picture from that article:
