Mobile Development Thread - Page 179

pboo74 · #**3561** Posted **Feb 11, 2009, 9:41 PM**

Good news for the amsouth bldg 'no spires''

Electrical Porpoise · #**3562** Posted **Feb 11, 2009, 10:05 PM**

Quote:

Originally Posted by BlessedMobile

how about thinking of this as a way to get people living downtown (renters).

I think you will get a few more down there, but obviously there arent going to be a ton because of the property value. West Mob is a renters paradise.

Muskavon · #**3563** Posted **Feb 12, 2009, 1:27 AM**

I know I've said it before but being able to purchase that 280,000 sf tower for $24/sf seems amazing to me. And I'm pretty sure that "per foot" number doesn't even count the 480 car garage that you'd think would be worth the total purchase cost by itself. I don't see how they can lose unless they just go insane with renovation costs.

I joked before that you'd think some eccentric person considering a $2 million/4 bedroom condo in Gulf Shores would've considered upping their ante and just buying the AmSouth Tower for $6.75 million/with 420 bedrooms, killer views in the top floor game room, and a massive garage to house their antique and exotic car collection. The more I think about it, it really wasn't all that bad a deal or stretch if they could afford the property taxes.

BlessedMobile · #**3564** Posted **Feb 12, 2009, 3:32 AM**

Quote:

Originally Posted by Muskavon

I know I've said it before but being able to purchase that 280,000 sf tower for $24/sf seems amazing to me. And I'm pretty sure that "per foot" number doesn't even count the 480 car garage that you'd think would be worth the total purchase cost by itself. I don't see how they can lose unless they just go insane with renovation costs.

I joked before that you'd think some eccentric person considering a $2 million/4 bedroom condo in Gulf Shores would've considered upping their ante and just buying the AmSouth Tower for $6.75 million/with 420 bedrooms, killer views in the top floor game room, and a massive garage to house their antique and exotic car collection. The more I think about it, it really wasn't all that bad a deal or stretch if they could afford the property taxes.

RSA got a steal on that place. Sadly for Mobile, it will now come off the tax rolls. I figure they can easily put 30 million into that place with a low $13 s/f rent and have that place paid off in 10 years or less. They have a steady flow of cash from the retirement fund from which to fund the whole thing. I am pretty sure this spells the end for John Toomey doing their leasing. I like the prospect of RSA going out of town to find large tenants for the building; you know they see what is coming to Mobile down the road. Thanks Mr. Bronner sir!

10101000 · #**3565** Posted **Feb 12, 2009, 2:50 PM**

Yeah, I agree, Mobile still has some signs in Baton Rouge and I saw one in Metairie this past weekend about attracting people to come work in the City.

MobileLSUboy2005 · #**3566** Posted **Feb 12, 2009, 3:05 PM**

can anyone find out what the occupancy of the AmSouth building is? I was wondering if it was over 50% empty now, or more

ChristopherNFTL · #**3567** Posted **Feb 12, 2009, 3:23 PM**

Quote:

Originally Posted by MobileLSUboy2005

can anyone find out what the occupancy of the AmSouth building is? I was wondering if it was over 50% empty now, or more

It was my understanding from the news articles that only about 2 floors remain up for lease. The building is doing quite well as far as tenants go. Maybe I read incorrectly though?

OCA REP · #**3568** Posted **Feb 12, 2009, 3:56 PM**

Quote:

Originally Posted by ChristopherNFTL

It was my understanding from the news articles that only about 2 floors remain up for lease. The building is doing quite well as far as tenants go. Maybe I read incorrectly though?

You read incorrectly, I think.

MobileLSUboy2005 was asking about the AmSouth Building.

The building with two floors left available is the RSA Tower.

OCA REP · #**3569** Posted **Feb 12, 2009, 4:00 PM**

Quote:

Originally Posted by MobileLSUboy2005

can anyone find out what the occupancy of the AmSouth building is? I was wondering if it was over 50% empty now, or more

I put it at about 64% occupied.

According to the article (AmSouth Building)

Total Square Footage: 280,000
Total Leased: 180,000
Total Available: 100,000

That is assuming my math is correct!

Port_of_Bama · #**3570** Posted **Feb 12, 2009, 4:05 PM**

Quote:

Originally Posted by OCA REP

I put it at about 64% occupied.

According to the article (AmSouth Building)

Total Square Footage: 280,000
Total Leased: 180,000
Total Available: 100,000

That is assuming my math is correct!

Yeah I was thinking around 68 %. does anyone know the deal on the other hotel that was suppose to be built DT HYatt I believe ? Also i always wondered what was the tall structure you see sitting up on the hills in Daphne when crossing the bay it`s a light tan looking tower is it a condo or what ? I also wonder when will they break fround on the 200 ft Applachin condo tower as well in Daphne ?

DruidCity · #**3571** Posted **Feb 12, 2009, 8:39 PM**

Quote:

I also wonder when will they break fround on the 200 ft Applachin condo tower as well in Daphne ?

I think that project has been dead a while. There's a "for sale" sign on the property.

The Daphne Bayfront Village project also doesn't appear to have anything going on.

10101000 · #**3572** Posted **Feb 12, 2009, 9:54 PM**

Quote:

Originally Posted by OCA REP

I put it at about 64% occupied.

According to the article (AmSouth Building)

Total Square Footage: 280,000
Total Leased: 180,000
Total Available: 100,000

That is assuming my math is correct!

Incorrect, the building is 50% leased. I talked to Mr. Toomey the other day he told me himself. Kathy jumper had an article back in October when another company tried to buy the building and stated it in her article.

www.johntoomeycompany.com

1110 Montlimar Dr # 830
Mobile, AL 36609

BlessedMobile · #**3573** Posted **Feb 12, 2009, 10:25 PM**

Quote:

Originally Posted by Port_of_Bama

Yeah I was thinking around 68 %. does anyone know the deal on the other hotel that was suppose to be built DT HYatt I believe ? Also i always wondered what was the tall structure you see sitting up on the hills in Daphne when crossing the bay it`s a light tan looking tower is it a condo or what ? I also wonder when will they break fround on the 200 ft Applachin condo tower as well in Daphne ?

The Loma Alta Towers were built around 1980 or so. I only know of one person who lived there and he is the guy who runs the US Sports Academy in Daphne; he had the top floor. It never was real popular because the condos were pricey. I can't see the planned highrise getting off the ground for a while; financing is tough to get. The Hyatt Place is what I heard is planned for the now vacant site near the Federal Courthouse; I guess that is currently on hold.

OCA REP · #**3574** Posted **Feb 12, 2009, 11:02 PM**

Quote:

Originally Posted by (Tim)

Incorrect, the building is 50% leased. I talked to Mr. Toomey the other day he told me himself. Kathy jumper had an article back in October when another company tried to buy the building and stated it in her article.

www.johntoomeycompany.com

1110 Montlimar Dr # 830
Mobile, AL 36609

Whatever Tim. We are all basing these percentages on information in the article posted in Message 3551:

http://forum.skyscraperpage.com/showpost.php?p=4080387&postcount=3551

Apparently John and Kathy are not communicating very effectively?

10101000 · #**3575** Posted **Feb 12, 2009, 11:26 PM**

Quote:

Originally Posted by OCA REP

Whatever Tim. We are all basing these percentages on information in the article posted in Message 3551:

http://forum.skyscraperpage.com/showpost.php?p=4080387&postcount=3551

Apparently John and Kathy are not communicating very effectively?

I was just stating a claim Sir. The question was asked and I gave an answer based on factual information from Mr. Toomey. I have his number if you want to call him. No need to be rude.

www.johntoomeycompany.com
1110 Montlimar Dr # 830
Mobile, AL 36609
(251) 342-7229

Port_of_Bama · #**3576** Posted **Feb 13, 2009, 2:29 AM**

lol u 2 crack me up man both of you are so much a like and it`s room on this forum for the both of you !! I assume around 68 % my self but if it`s 50 it`s all good !! you two are good with me.

Port_of_Bama · #**3577** Posted **Feb 13, 2009, 2:35 AM**

Quote:

Originally Posted by BlessedMobile

The Loma Alta Towers were built around 1980 or so. I only know of one person who lived there and he is the guy who runs the US Sports Academy in Daphne; he had the top floor. It never was real popular because the condos were pricey. I can't see the planned highrise getting off the ground for a while; financing is tough to get. The Hyatt Place is what I heard is planned for the now vacant site near the Federal Courthouse; I guess that is currently on hold.

So that`s what they are called I drove up to it the other day and the views of the bay were nice since it sits on such a high elevation. I can only imagine if it was a couple more of them sticking out from the trees. Last I read in the PR the Applachin Condo had the green light agian so assume it`s still in motion. I want to know what Condo Dale Jr is trying to move in or buying I wish DT had the Turqouise pLace ( Orange beach).

DruidCity · #**3578** Posted **Feb 13, 2009, 2:49 AM**

Wow, my bad. You're right that the Apalachee tower is still being considered:
http://www.al.com/news/press-register/metro.ssf?/base/news/1232792173244060.xml&coll=3

This is not very far from where I own a condo (Sea Cliff) . I drove by there earlier this week, so this is a pleasant surprise to me that the Apalachee idea is back up.

MobileLSUboy2005 · #**3579** Posted **Feb 13, 2009, 2:27 PM**

Quote:

Originally Posted by DruidCity

Wow, my bad. You're right that the Apalachee tower is still being considered:
http://www.al.com/news/press-register/metro.ssf?/base/news/1232792173244060.xml&coll=3

This is not very far from where I own a condo (Sea Cliff) . I drove by there earlier this week, so this is a pleasant surprise to me that the Apalachee idea is back up.

can someone try and find a rendering of the Apalachee? i havent seen any, emporis didnt have one either...

Port_of_Bama · #**3580** Posted **Feb 13, 2009, 2:49 PM**

I wish the causeway was suitable for condo developmet ! I will try to find it for you the rendering looks ok but it`s like almost 5 or 4 years old now I wish they would alter it a little bit.