Quote:
Originally Posted by twister244
Welp, there you go. So, someone showed me a rendering of this project (different than what's on the website, but definitely this project) a few weeks ago. When I saw it, I was completely floored because I follow this thread, along with local news, DenverInfill, etc. But, when I tried searching online, I couldn't find a thing on this project, which made me super skeptical. That's why I was poking at it a bit, to see if it would get any sort of reaction from folks. Maybe I should have been a bit more subtle, but I couldn't just come out and say "Hey, I hear there's two 40-story condo towers proposed at 19th and Arapahoe!".
|
Sorry to be buzz-killington but I am not convinced for a few reasons:
1) The "25%" off for a $20,000 down payment. This seems like a pretty steep discount attempted to get a bank interested in the building by getting pre-sales. However, having to offer this type of discount would most likely scare off any bank.
2) This is a major project. An unknown developer would not be able to undertake this type of project without a major partner (such as EastWest). I do not see any evidence of such partnership.
3) It does not look like the POC for the building has any development experience.
If I had to guess, who ever is proposing this has the land under contract and is trying to piece a deal together that they will then try to sell to an outfit that can handle this type of project. Until I see more concrete info, I am filing this in with El Jebel.