Most Significant Developments of 2008 [4]
I know, it will probably be 2010 before I cap these off...
Surprised Trump isn't number one? As Stamford's tallest building and possibly the largest construction project in the city for some time it certainly earns a spot on list. The tower, by sheer size alone will etch it's place as a defining landmark. The mass of people it bring to live in the downtown (and wealthy ones at that) could certainly buoy business and attract new ones. And when it started rain debris (so many instances that when something dropped recently it barely elicited a peep), it raised some import safety concerns for a city that will inevitably be under construction big and small far into the foreseeable future.
Mostly though I think Trump Parc's real impact is overstated. I'd imagine the economy, combined with the size of the building will more than fill the market for downtown ultra luxury and limit any immediate need for development of any similar ilk or scale. It has filled the role of cartoon villain quite nicely for some and perceived as the secret conspirator behind everything from cherry tree removal, to artificial turf, to the elimination of backyard trash pickup. Whatever the next growing pain to come down the pike, Trump Parc will be there for people to shake their fists at.
12 comments :
JR < now I have to continue our discussion from the Streets of Stamford. I know you can't revel your sources, but now I have 2 a real estate lawyer who was involved with the Trump Towers and an engineer, whose local in suppose to go in. They both say work has stopped! I realize I am not an investigative reporter, but those sound fairly credible to me!
Additionally we are currently looking at a 30% empty rate for current building office space. I know that does not come close to comparing with the 1990's when we ran some horrible number (I seem to remember 70%, but could easily remember wrong). Again these are my two sources and it was something they told me after I asked about it a few days ago (due to the other person's post on the Streets of Stamford concerning the Trump Towers).
I leave the Trump discussion alone at this time, but I agree the Trump Tower is not number one. I would have said the South End Antaries (Spelling? and still or did it get taken over?) is the most significant, but I'll let you surprise everyone.
I do not know who your sources are but I can tell you that I am in the Trump Parc building every day and there are about 200 tradesmen working everyday including Saturday's. Work has not stopped in fact the marble is being installed in the bathrooms and the installation of the kitchen cabinets has begun.
Work is continuing on the outside as well. It's less noticable (except on the penthouses), but you can even see some stuff being done on the porches.
The same rumors went around about RBS.
I can't divulge my sources either, but there is not truth to the rumor that work has ceased at Trump Tower...it's a mere rumor!
P.S. I'm glad this is #4! I anxiously await the rest of the countdown...get on it dude! :)
So obviously the lawyer lied to me (okay no biggy there, that's what they do and the building engineers union isn't going into Trump. Sorry for my misinformation, now I wonder where 'Stamford..the workin' city' got their info? Maybe the same lawyer? Sorry for the confusion.
JT: You make a good point about how Trump Parc fills its particular niche, thus limiting the need for similar developments in the future (suck it, Highgrove!). Maybe developers will ditch the luxury crap and get back to building boring old "average" apartments that the rest of us can afford!!
So if the work at Trump is continuing, does anybody know when it will be completed. I thought it was supposed to finished by now. Also, anybody know how many units have sold?
The Trump is over 60% unsold. They will never tell you that. They will say that they got into trouple when they lasy published stats. Also when they say we only have X number of Y bedrooms apartment available, they mean in the pool of apartments currently available for sale. More apartments come online later..its and old Real Estate game...
Look at the Trup in White Plains / New Rochelle..they were unable to sell too (BACK DURING THE BOOM) and had to turn many units into rentals. Occupancy rates are higher there due to the proximity to NYC but prices have droppeed a lot. Many of the units recently sold / on the market there are short sales.
Why buy at the Trump when u can have a townhouse in Greenwich proper at the same price? or waterfront townhouses in stamford?
Interesting. Anyone know what promises they have made to the City of Stamford. I know it is very difficult to get a mortgage in a condo if greater than 50% of the units are unsold. I doubt the 30-40% that have already committed to buy are "cash" buyers. A vacant building that size in the middle of Stamford could become quite an eyesore and won't help the perception of Stamford.
Did you steal that picture from the Connecticut Development News section of skyscrapercity.com?
http://www.skyscrapercity.com/showthread.php?t=376106&page=61
If so, you should at least credit the source instead of taking it outright just like that.
Post a Comment