U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Georgia > Savannah area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-05-2019, 05:47 PM
 
6,469 posts, read 5,705,579 times
Reputation: 1939
Maybe the second time will be the charm...

Quote:
Three qualified proposals were received and evaluated by an interdisciplinary committee. Gamble Partners, LLC, a well-qualified and experienced real estate development company based in Houston, Texas and New Orleans, Louisiana, was the highest rated proposer. The highest rated proposal includes a plan to redevelop the property as a multi-story guesthouse complex, with shared office space, and other amenities. The proposer has agreed to pay a price of $7,050,000 to acquire the property; equating to +/- $160/square foot of building area. The proposer plans to invest a total of +/- $22 Million in the property; including the purchase price. Property taxes, hotel/motel taxes, sales tax, and other revenues would be generated from hotel guests.
Agenda Plus - November 7, 2019 City Council Regular Meeting
Rate this post positively Reply With Quote Quick reply to this message

 
Old 11-05-2019, 10:26 PM
 
Location: Savannah GA
13,708 posts, read 18,274,880 times
Reputation: 9968
A nearly $30 million investment on a very old property seems extremely high risk to me
Rate this post positively Reply With Quote Quick reply to this message
 
Old 11-08-2019, 10:06 AM
 
408 posts, read 377,203 times
Reputation: 239
Quote:
Originally Posted by Newsboy View Post
A nearly $30 million investment on a very old property seems extremely high risk to me
$30M probable includes structural work, all new plumbing, mechanical, electrical, asbestos abatement, etc. They've likely accounted for just taking the inside down to the studs and starting over.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 11-10-2019, 03:20 PM
 
3,864 posts, read 5,552,080 times
Reputation: 1908
People should read what Tony Thomas is posting about this on Facebook, he isn't too happy with the sale. It seems two of the outgoing council people took money from the investment group.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Savannah area
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top