Quote:
Originally Posted by SacTownAndy
I wonder what impact this will have on the Vanir tower?
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The Vanir Tower needs to line up about 200,000SF of pre-leased tenants before
banks will lend money and this tower needs 400,000SF. Combined, these two
might suffocate each other and neither gets built... kinda like what happen to
Aura and Towers competing to pre-sell condos to meet the banks minimum.
Vanir Tower has not started the entitlement process or applied for any permits
with the city since they originally filed with the city in November 14' and then
withdraw weeks later. This tells to me that after proposing the tower 15
months ago they have not pre-leased the minimum square footage to move forward.
It took 621 Capitol Mall 6 years to pre-lease 50% of the tower before ground broke
and that was after they reduced the floor count from 31 to 25.