Is Bank of the Ozarks new name. Very well capitalized 120 year old bank. A lot like another bank round these parts that I think a lot of …
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Wow maybe we judged this project too soon.
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Furthermore, the ownership of that property (and they’ve owned it for a while) took out a $39m loan in September associated to that property. I’d bank they aren’t sitting on that loan and not building. Just my very uneducated guess.
And I’d love for this to make it to it’s own thread so it’s easier to find. 
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Let’s hope that’s the case!
Which hotel project is this ?
Very Impressive Hotel, so when do you thing this will get built ??
hum I do not think 39m will not go very far toward building the proposed hotel. Maybe they just used the lot as collateral for money for another project. 
Maybe they only need $39m of lending coupled with a large amount of equity funding
I hope you mean impressive size and not the design…
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They’ll probably just put 3 or 4 rooms per floor for the social distancing thing. 
Look at that forest on the Firestone property…
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Impressive girth. 
Yeah, it’s a pretty disappointing downgrade from the first render they released, which included curved glass down the intersection facing corner
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Curved glass is very expensive. Nix that immediately during value engineering.
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Not an expert but hotel construction is a good deal cheaper than office per square foot. 39m might be a bigger portion of the cost than you would think. The Residence Inn was a few years ago, and smaller, but $30m.
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I wouldn’t be surprised if they resubmitted plans to down size it.
Even MORE information, an analyst at CoStar says the ownership of this property is scheduled to start construction in December of this year. So, confirmation plans/intentions are still in order, but not going to see action soon I’m guessing.
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I was just making a WA guess on cost seems I was wrong. Does seem 39m would build the actual hotel building in Raleigh. I can not vouch for accuracy of this web site but guess it at least gives ruff idea. Also do not think this includes permits and land and I’m sure other costs which think could double cost.
here is est for same size office building.
This may be a fun site to play around with.
http://www.buildingjournal.com/commercial-estimating.html
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