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Originally Posted by EarthRocker
I drove by the site yesterday afternoon to see what's going on, and there appears to be no activity at all right now. They were doing a lot of excavation a few months ago, but it looks like once that was finished (?) they packed up and left. There's a large pump in place, obviously recent, and the hole isn't filling up with water again, so hopefully that's a sign that crews are meant to return.
The updated (this spring after the HCA announcement) sign at the site says "Coming 2015", which seems like a long time to allow for construction, so perhaps this is just a scheduled delay.
Over in the general development thread, arkitekte commented he was worried Palmer was having more trouble getting funding; I sure hope that's not the case. It's hard to see how there could be trouble funding it, with tenants all lined up, right? At least for the office tower part; the hotel portion might be a different matter with all the recent announcements downtown.
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The guys over on UP that really know what's going on have said that Palmer is having financial troubles. I don't understand it. 10 years and 2 or 3 major tenants and he still doesn't have the financial power to start construction. One mentioned however that he thought that it wasn't major, but I still don't understand how given the amount of time that he has had to acquire investors and sign tenants he still can't begin construction.
After all of the attention the project has gotten over the past 6 or 7 months we're somewhat right back to where we were other than the tenants signing.
If Palmer can't deliver the space by 2015, are the tenants allowed to break their lease?