OMG! Hotel Teatro Deal is True!! Part II

#1 Posted **Feb 23, 2007, 8:51 PM**

Oh well I couldnt find the original thread sooooo.... I thought I would start a new one.

Actually the only reason why I am starting a new thread is because of something I found on BidClerk today.

On February 21, 2007 a General Contractor has been added to the project and its status was now changed to preconstruction with a Spring 2007 start time.

The General Contractor is Swinerton Builders. Anyway, carry on!

prontospyder · #2 Posted **Feb 23, 2007, 9:05 PM**

woohoo!

SnyderBock · #3 Posted **Feb 23, 2007, 9:19 PM**

That's a lot of projects about to get started in Denver! You guys are going to have to put together a professional looking photo thread of this in building construction - this spring - and show everyone Denver's building boom!

BroncoCSU05 · #4 Posted **Feb 23, 2007, 9:51 PM**

spring '07 my ass. i say it's 1.5 years away at best. they'll break ground right when the DNC rolls around

rds70 · #5 Posted **Feb 24, 2007, 12:28 AM**

The height of the building has been reduced.....More details to come.

pablosan · #6 Posted **Feb 24, 2007, 12:31 AM**

You better be kidding!!

comoneymaker · #7 Posted **Feb 24, 2007, 1:20 AM**

i bet it will get droped to like 28 floors

nbrindley · #8 Posted **Feb 24, 2007, 1:36 AM**

it will now be a 7-story holiday inn.

Cementglow · #9 Posted **Feb 24, 2007, 1:54 AM**

Did it get dropped significantly or just a few floors.

SnyderBock · #10 Posted **Feb 24, 2007, 2:27 AM**

Remember a couple of weeks ago, I pointed out that they have a loan for $200 million, plus $31 million from the sale of the Teatro. However, the cost of this building was supposed to be $250 million (I believe)? That leaves them at least $20 million short. I suggested that that may result in a scale back in size. I was brushed aside - as someone claimed $20 million is nothing to these guys and they would come up with it. $20 million is actually a lot of money, to anyone - even these guys. If this is getting reduced in height, we might be able to figure out by how much. How many floors in this style building does $20 million build? How much does that spire on top cost? Chop $20 million off this building, and that's what you may get!

EngiNerd · #11 Posted **Feb 24, 2007, 2:33 AM**

Quote:

Originally Posted by nbrindley

it will now be a 7-story holiday inn.

That made me laugh. But seriously, I have a lot of skepticism on a spring 07 ground breaking.

wong21fr · #12 Posted **Feb 24, 2007, 2:39 AM**

Actually the building cost was originally estimated at $350 million back in 2005. So give two years of construction cost inflation and you're looking at a cost of roughly $400 to 450 million.

Unless there is more funding coming from somewhere else, which is always possible, this project is probably coming down into the forty story range.

Just my gut feeling.

SLC Projects · #13 Posted **Feb 24, 2007, 2:50 AM**

This sounds like a cool project. Do you guys have any renderings of this tower?

EngiNerd · #14 Posted **Feb 24, 2007, 2:52 AM**

InfillJunkie, you should add renderings to your initial post for all the people that don't know what it looks like (and don't know about DenverInfill.com)

SnyderBock · #15 Posted **Feb 24, 2007, 3:37 AM**

Quote:

Originally Posted by wong21fr

Actually the building cost was originally estimated at $350 million back in 2005. So give two years of construction cost inflation and you're looking at a cost of roughly $400 to 450 million.

Unless there is more funding coming from somewhere else, which is always possible, this project is probably coming down into the forty story range.

Just my gut feeling.

Oh yes, you are right. I was going by my unreliable memory. That means they have made public $231 million in funds they have acquired. They probably already had several million for this project, or they wouldn't have secured the loan. Lets say $50 million in personal funds, plus the $31 million for the sale of the Teatro. That's $81 million (and that may be a liberal estimate, it could be much less).

That puts this projects budget at $281 million for a building that was to cost $400 million plus. BUT, after that cost was announced, they lowered it from 60 stories to 50 stories and cut the estimated cost down to ~$350 million. That still leaves them about $70 million short at minimum.

If they lowered it an additional 10 stories, that may allow then to keep the spire. OR, perhaps they might lower it 5 stories and make it a flat roof?

SnyderBock · #16 Posted **Feb 24, 2007, 3:42 AM**

I just thought this...

Because this tower is on the very edge of downtown. It might actually look better in the skyline as a 40 story building with a spire. At 50 stories plus a spire, it adds a 4th building about the same height as the big three Denver already has - on the very edge of downtown. There needs to be more variation in height then that! It would have been nice for this to be noticable taller then the big three. But that's not going to happen. So perhaps a 4- story plus spire will be the next best thing?

Top Of The Park · #17 Posted **Feb 24, 2007, 5:02 AM**

Quote:

Originally Posted by SnyderBock

I just thought this...

Because this tower is on the very edge of downtown. It might actually look better in the skyline as a 40 story building with a spire. At 50 stories plus a spire, it adds a 4th building about the same height as the big three Denver already has - on the very edge of downtown. There needs to be more variation in height then that! It would have been nice for this to be noticable taller then the big three. But that's not going to happen. So perhaps a 4- story plus spire will be the next best thing?

I don't understand how you can describe this tower as being in the edge of downtown. It will be in the midst of several other buildings viewed from I-25 it will provide an interesting fill to an area that is mostly flat topped and coupled with, hopefully, the bell park Geller tower... it will add some needed flavor.

I am more interested seeing the Platte Valley fill up from the Glass Towers connecting with the rest of downtown to give us a Calgary length downtown. I hated to see the Trump building on the other end fail since it would have stretched the skyline east.

SnyderBock · #18 Posted **Feb 24, 2007, 5:40 AM**

It's not on the edge of the skyline? It looks like it is on a map. That rendering by one of the Denver forumers had it placed on the edge of the skyline. Look, I'm just being friendly and am not looking for arguments here. I'm not sure why I get contradicted on everything I say? If I'm wrong, correct me. But for every one of my posts to be picked apart and dissected for errors and the actual message being totally ignored is just ridiculous!

Peace out!
I'm going back to Texas

wong21fr · #19 Posted **Feb 24, 2007, 5:53 AM**

Don't know about the flat roof, but the model in the showroom still has a spire.

It was a wooden massing showing the building in its surroundings and there was still a spire.

pablosan · #20 Posted **Feb 24, 2007, 5:54 AM**

I just think people were holding their breath on this one. When it came out, it was supposed to be a new tallest. Now with the thought of us losing a new tallest is well, Denver for you. It is a little disappointing when you see impressive and tall towers going up in every other city.