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I have a theory GSOCitizen. DGI president Zack Matheny mentioned in a recent FOX 8 news article about development around the ballpark and that $150 million in projects near the ballpark are being discussed right now and thats on top of whats already been developed and Roy Carroll's Carroll at Bellemeade. We know $90 million is in the works for Roy Carroll's next project which could be a mixed use high density residential project with his Aloft hotel or maybe even project 561. When you account for $90 million, that leaves $60 million. Raleigh's SkyHouse cost $60 million to build. Construction cost for the Nashville SkyHouse was also $60 million. In fact the average cost of SkyHouse apartment tower is $60 million since they all have the same design and they are all around 23 or 24 stories tall. Some may be a little more depending on the location. Could the rumored SkyHouse that you mentioned be a part of that $150 million? Matheny said the development currently being planned around the ballpark is more than Greensboro could hope for. We also know "residential towers" are being planned near the ballpark.
If A SkyHouse is indeed in the works, this is what we'd be seeing near First National Bank Park. Honestly I don't care if it is a cookie cutter tower. It would be a great addition to Greensboro's skyline and it would be another big name in addition to Aloft and Westin taking root in downtown Greensboro.
Another possible clue for a possible SkyHouse are the planned parking decks for downtown Greensboro. Cities typically provide parking for SkyHouse towers with parking decks and Skyhouse makes an agreement with cities by leasing spaces in the decks. Thats one way how they cut construction cost down so leasing rates can be reasonable. In February the city announced that developers already planning other downtown projects would build the parking decks and the city would reimbursement the developers. It appears this is being done this way to get the decks built as quickly as possible. It seems the city wants to move fast on something. So you have to wonder what developers other than Roy Carroll would be planning other downtown projects and would be willing to front $30 million to get decks built? The News & Record article said developers so there is more than one. They would have to have a vested interested in the decks providing space for their projects. This would also mean they would be large projects if they need decks. One deck will have 850 spaces and the larger one 1,200 spaces. I also find it interesting the city won't reveal the developers or where the decks will be located at the moment and that may be because it would reveal where potential developments associated with the decks are going and certain developers don't want their projects revealed just yet. Maybe this is how you heard rumors about a SkyHouse coming downtown through friends that work for the city. Btw the leasing rates for Carroll at Bellemeade will be about the same as leasing rates for a typical SkyHouse. They would be a little higher than CityView Apartments and The Greenway at Fisher Park Apartments. The type of people who would rent apartments on the higher end would be young professionals or emptynesters. Studio units in a SkyHouse in Raleigh start at $1,132. At CityView Apartments studios are about $1,000. Even with above average rent in the current downtown apartment market. These complexes are well over 90% full. At one time there was a waiting list to get into CityView so they had to expand three times. Ironically apartment not located in downtown with lower leasing rates hover below 90%
Nope. They are probably finalizing the design for the Westin. Randall Kaplan who is head of that project is suppose to make an announcement this spring about the construction timeline. Constructionwire reveals that construction will begin the second half of this year and Starwoods website lists the opening in 2019. The last plans called for a 7 or 8 story hotel built on top of a multi story deck around 4 or 5 floors. It will be about 12 stories tall unless more rooms were added. I would like to see the historic 7 story Dixie building next door to the Westin Hotel site turned into an 80 room Hotel Indigo. There would be no need for a deck because there is a parking lot behind the building with about 100 spaces. A developer could apply for historic tax credits to help renovate the building into a hotel similar to the 9 story Southeastern Building renovation which converted that building to apartments. I've passed that idea to Downtown Greensboro Inc.
The Aloft project which likely will include a mixed use element is likely in the design phase now. We are waiting to see if the mixed use element will be residential or Project 561. From what in hearing, Carroll may have an anchor tenant lined up.
Okay, thanks. Do you think they'll release some renderings when they announce the construction timeline? I feel like a lot is going on, finally, and I'm anxious to see how downtown will look in the coming years.
Okay, thanks. Do you think they'll release some renderings when they announce the construction timeline? I feel like a lot is going on, finally, and I'm anxious to see how downtown will look in the coming years.
I would hope so. Getting renderings from developers around here can be like pulling teeth sometimes. Not the case in some cities like Charlotte where developers cant wait to make their renderings public. It seems that many of the projects going on are timed around the performing arts center. I probably would not expect any more announcements or renderings until after the groundbreaking for the performing arts center later this month. But there is going to be a lot of downtown construction over the next 3 years. Dont forget there is on going work on the greenway as well. I know one thing, I'm anxiously waiting for Roy Carroll's announcement for his $90 million project which probably involves the Aloft. Its either high density residential or his Project 561. Either one would be exciting news.
Does anyone know what's going on with the lights at the top of the Lincoln Financial Building? I know they were installing LEDs to replace the old lights but this article says that was supposed to happen in March. I'd really love to see them change the color but the article says they could do that, but plan on keeping the standard white. Womp womp.
Does anyone know what's going on with the lights at the top of the Lincoln Financial Building? I know they were installing LEDs to replace the old lights but this article says that was supposed to happen in March. I'd really love to see them change the color but the article says they could do that, but plan on keeping the standard white. Womp womp.
They may be in the process of changing them now. Ive noticed the top of the Lincoln Financial Building has been dark the last few nights. That would be cool if the could change color.
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Matheny said the development currently being planned around the ballpark is more than Greensboro could hope for. We also know "residential towers" are being planned near the ballpark.
