The construction site is still a ghost town last I checked. I would think “surveying and reviewing the site” would involve, you know, actually being on site at least occasionally. Can’t do everything remotely
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I think the misspelled “continue to beg for a construction loan”
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Banks are probably getting a little weary of funding another luxury building late in this cycle with lots of competition farther along. Not to mention the general contractor has a serious potential liability at another site
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these recent updates haven’t been encouraging. They’ve basically been regurgitating the same statements.
https://www.updateson45broad.com/lookahead
Right now our team is reviewing the site. We will begin mobilization for our foundation in July. Stay tuned for more updates!
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Give me a shovel, some amphetamine, some pile drivers, the materials, and continue to supplement with with amphetamine , water, some beef jerky, and I’ll start the foundation and build the tower myself.
They are “reviewing” a lot apparently. Sites empty and has been for months. Just start working on it already lol!
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Possibly they are waiting for the finalization of financing. Or could be latency in legal parameters. Something is holding or lagging this. I think it could be legal.
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if anyone is in the neighborhood this month and could swing by to confirm:
https://www.updateson45broad.com/lookahead
This month we will begin mobilization for our foundation and work on excavating and removing soil from the site.
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will do
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I saw about a half-dozen workers on site, not doing much when I walked past. But more than just a security guard. Perhaps they were waiting for equipment to arrive today.
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That’s a step forward. I went by the previous two days and didn’t even boot prints in the dirt
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1st contact! Life has been discovered at the barren, moon-like site. Step in the right direction.
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Given the condo glut, I don’t see this rising during this cycle.
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Agreed, if 125 Greenwich isn’t viable, I don’t know how this would be.
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125 Greenwich is a great site, and has zero to do with 45 Broad. The issues with 125 Greenwich are specific to the development team, and have nothing to do with whether or not the condos will sell at expected price points.
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Ah okay, I guess I misunderstood what the situation was there.
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no sign of any equipment parked on the site when I walked by on Sunday
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from the SSP thread
What’s the status of the 45 Broad Street project?
It’s still in the foundation stage. We had several methods presented to us to do the foundation. The building sits on rock, but the rock is 45 feet down. We had ways that would have shaved six to nine months off the foundation process and $5, $6, $7 or $8 million off of it.
We chose two years ago to go in the direction of this substantial foundation. We have 470 vertical elements [concrete rods drilled into the ground that create a wall] on the bottom floor—which is 9,000 square feet. It’s something called secant piles. We’re grabbing rock at all these locations.
All the drilling and piling is now completed and now we’re starting on the actual pouring of the foundation. That will go on for four months and it will have taken us two years to do this and a lot more money then we wanted to spend. But the elevators will work perfectly because they will be sitting on solid ground.
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