Obv concerned how this impacts any other project that hasn’t budgeted for additional costs.
Btw, the additional material costs for this was considerable. 8 figures OVER from 3 different builder bids.
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If they would’ve just built it at the same time as phase 1 instead of being cheap (or complacent) they wouldn’t be going through this right now. Not saying anybody could’ve seen THIS coming, but it was kinda obvious (even back then) that inflation (aka the fed’s money-printer) was ramping up…
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If Phase 2 is going to be significantly delayed, that west facing garage needs some serious attention.
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It will cost too much 
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Weird there’s a dozen 20 story towers going up in the next two years but Fallon can’t make this one work. Even with record high rents in downtown?
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Every developer/company has a budget limit 
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Nothing is guaranteed… hopefully some of those 20 story buildings rise!
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I, for one, am not upset to hear Phase 2 is indefinitely delayed - put that lot up for a 40-story rezone and design something way more densely mixed-use to maximize that ROI. No rush so long as something much taller and better looking can be built here.
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Correct me if I’m wrong, but wasn’t Fallon the developer that fumbled a downtown Durham project pretty badly too?
EDIT: Yep, it was them. I remember they had the opportunity to develop the old Durham police station development in DTD but messed that one up. Maybe it’s a Fallon thing? 
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current market conditions vs. budget vs. return on investment is a pretty big deal on making a project happen. they could potentially sell the rest of their land and make a few million dollars.
Just because there were a dozen 20-story buildings announced doesn’t mean they would happen. Only time and excavations will tell us when it’s really happening.
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Material costs have increased by 50%-100% over the last year, with expectations that it continues to rise. My suggestion to Fallon, build now before that 8 figures over budget becomes 9 figures over budget.
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slightly off topic - but still related. We are trying to build a new performing arts center on my campus, names for one of your trustees, Randy Owen of Alabama fame. Its called the ROC - lol. But all the plans have gone haywire as the price of steel beams tripled in the last few months. The scramble now is do we redesign, cut back in other areas, or try to raise more money. It is a mess for anyone trying to build, and has been for nearly a year now.
Apparently the building is completely finished now. Nice time lapse video of the construction on here.
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Anyone else catch the repelling dancers on 301 today? Apparently they’re practicing for a show for the grand opening Friday!
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Who needs CNN, ABC, etc. when we have you sleuthing around town!
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gave me a heads up
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Video from
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Btw, this is a group called Bandaloop.
Let me know if you can make it out tomorrow just before 2 to see the performance!
Also:
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Wait are they inviting the general public to the roof top of the parking deck?
Haha!!! No. But you can hang out across the street or around Flying Saucer, or maybe Taverna Agora?
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