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R.I.P. Old City Hall project. Same old typical pattern. I guess the powers-that-be have studied the situation and have determined that the best use of that property is as a decaying dumping ground. I did get a good chuckle at the comment “that the city is continuing evaluate ways to help the company reduce its costs.” That’s a good one.
Is there an “expiration date” on TWG’s deal with the City? At what time should alternate developers be considered?
90% over budget shows a lack of experience.
It’s still gonna get built,relax
I posted the day they were chosen and financial details released that it was absolutely not possible for that project to be built within the disclosed budget. It was totally unrealistic. But the city seems to want to get this done so I’m optimistic it will…They’ve been aggressive in supporting projects they favor recently…But these budget projections were woefully short from day 1.
Wishful thinking is a good thing, but it does not pay the bills. With the old City Hall project and a few others, especially Eleven Park and whatever they’re doing/not doing at Lafayette Square, it’s a classic case of too much dreaming and not enough dollars. At least the Eleven project never got off the ground (so to to speak. As for Lafayette Square, I’m all about reuse, but slathering ugly paint on a retail relic still anchored by the remnants of four or five old anchor stores never made and still makes no sense. There was lots of spaghetti thrown on the wall, but given the changes in the neighborhood and the bulky blandness of the mall it was foolhardy to cling to the outdated footprint of the mall. Apartments, boutique hotel…on and on? The area has vitality, and eventual promise, but come on! The only feasible reuse starts with taking down the buildings and plowing up the miles of crumbling concrete. That original price tag of $200m was pure pipe dream — money better spent clearing the site. *Man did I pivot from the original premise