Think "Three Amigos..." It's as if Manchester and Colony Capital had a similar relationship as did Carmen and Rodrigo with the telegrapher: They both wanted a "23-peso" version; but, could only afford the "10-peso" version.
As purported in this forum...Manchester's budget was ballooning out of control. I would guess that this was an accurate report as Manchester seemed to have been forced to "dumb-down" their design while increasing their overall budget by $20 million (from $350 million, originally, to $370 million now).
It's safe to assume that the tower, in its original design, was going to cost north of $400 million and most capital investors required Manchester to cut the budget down to no more than $370 million (where it is today).
It's sad! The project has been brought from being a one-of-a-kind here in Austin down to the pack...The JW Marriott (~$350 million) and the W (~$325 million).
__________________
AUSTIN (City): 993,588 +3.30% - '20-'24 | AUSTIN MSA (5 counties): 2,550,637 +11.70% - '20-'24
SAN ANTONIO (City): 1,526,656 +6.41% - '20-'24 | SAN ANTONIO MSA (8 counties): 2,763,006 +8.01% - '20-'24
AUS-SAT REGION (MSAs/13 counties): 5,313,643 +9.75% - '20-'24 | *SRC: US Census*
|