[AsburyPark] Re: When a City Relies on a Myopic Plan....
--- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: --Wrong. now there is MORE reason to open the Wonder Bar asap. And for now, cleanup those partments and RENT them. You also have the Salvation arm,y housing closed up as the rest of the block. Time for the coty to force the developers to clean up the vacant lots with grass, once the time comes. Don't forget, you can drive from Hollywood Fl to Miami and see lots of stalled projects. thats what i said. open up all the places they closed, theres not going to be anything happening there anytime soon. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
--- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: --Wrong. now there is MORE reason to open the Wonder Bar asap. And for now, cleanup those partments and RENT them. You also have the Salvation arm,y housing closed up as the rest of the block. Time for the coty to force the developers to clean up the vacant lots with grass, once the time comes. Don't forget, you can drive from Hollywood Fl to Miami and see lots of stalled projects. sorry my wording was bad, what i was trying to say was that there is absolutely no reason why those buildings should sit there with nothing going on in them. open them all back up immediately. baronet, fastlane, wonder bar Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
WOW. That's really, really, bad. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
Oh great. C-8 anyone? Now we are going to have a partially complete constuction site to further make our oceanfront area look like crap. Awesome. Predictions for the both long and short term health of the real estate market are depressing and scary, and not going to be solved anytime soon. This is going to hurt our city. --- In AsburyPark@yahoogroups.com, wernerapnj [EMAIL PROTECTED] wrote: Builder puts Asbury high-rise project on hold By NANCY SHIELDS COASTAL MONMOUTH BUREAU The Hoboken developer building the 224-unit Esperanza high-rise on the city's beachfront says it is temporarily closing down the construction site and sales office. Dean Geibel, president of Metro Homes, said the company recently informed the city that it was halting construction and sale until such time market conditions allows us to move forward and successfully complete this important luxury beachfront development. Full story: http://tinyurl.com/3632jc --- The key to a good Redevlopment plan is to diversify land uses and anticipate changes in regional economics. Doing so would have assured that no single 'land use' dictated the future economic success of the City. Werner Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
--- In AsburyPark@yahoogroups.com, wernerapnj [EMAIL PROTECTED] wrote: Builder puts Asbury high-rise project on hold By NANCY SHIELDS COASTAL MONMOUTH BUREAU The Hoboken developer building the 224-unit Esperanza high-rise on the city's beachfront says it is temporarily closing down the construction site and sales office. Absolutely disasterous. I am quite aware of difficulties being experienced by developers even in NYC, which appears on the surface to be the healthiest market. The cost and availability of financing is drastically different than it was a few months ago. Most lenders are out of the market and those that are in are charging much higher rates and requiring much more equity. What troubles me is Dean's talk of redesigning the project. Hmmm. What does that mean? Either your plan was sound or it was not. Are they looking simply to spend less money or did they misjudge the market, regardless of the credit crisis? What troubles me is that some of us said that this might become another C-8. I hope not. But, how long will the city allow it to be mothballed? How long will we have to sit with another unfinished project? The CAFRA permit was received in 2004. The residential market and interest rates did not start to hiccup until the second half of 2006. Deals to subdevelopers should have been in the works while the CAFRA was pending. I know, I am going back on my recent pledge to move forward and not cry over spilled milk. Not really. But this is what Partners' and its greed has wrought and what we allowed them to do. I am sure the construction lenders simply reneged on their committments. Metro is not the only one in this position. But the financing can be had. More equity must be put in. They paid toomuch for the land. If summer rolls around and that site is idle, it will be validation of all the naysayers who said not to believe that this city could come back. If they are not going to build, make it a park. The worse thing to have is another C-8 hanging around. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
This is a clear sign that validates something many of us have said for a long time...The Asbury beachfront was never meant to be condo city. This would be the perfect moment to get Asbury Partners the hell out of here, and begin redeveloping toward the direction it always should've been...entertainment. --- In AsburyPark@yahoogroups.com, dfsavgny [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, wernerapnj wernerapnj@ wrote: Builder puts Asbury high-rise project on hold By NANCY SHIELDS COASTAL MONMOUTH BUREAU The Hoboken developer building the 224-unit Esperanza high-rise on the city's beachfront says it is temporarily closing down the construction site and sales office. Absolutely disasterous. I am quite aware of difficulties being experienced by developers even in NYC, which appears on the surface to be the healthiest market. The cost and availability of financing is drastically different than it was a few months ago. Most lenders are out of the market and those that are in are charging much higher rates and requiring much more equity. What troubles me is Dean's talk of redesigning the project. Hmmm. What does that mean? Either your plan was sound or it was not. Are they looking simply to spend less money or did they misjudge the market, regardless of the credit crisis? What troubles me is that some of us said that this might become another C-8. I hope not. But, how long will the city allow it to be mothballed? How long will we have to sit with another unfinished project? The CAFRA permit was received in 2004. The residential market and interest rates did not start to hiccup until the second half of 2006. Deals to subdevelopers should have been in the works while the CAFRA was pending. I know, I am going back on my recent pledge to move forward and not cry over spilled milk. Not really. But this is what Partners' and its greed has wrought and what we allowed them to do. I am sure the construction lenders simply reneged on their committments. Metro is not the only one in this position. But the financing can be had. More equity must be put in. They paid toomuch for the land. If summer rolls around and that site is idle, it will be validation of all the naysayers who said not to believe that this city could come back. If they are not going to build, make it a park. The worse thing to have is another C-8 hanging around. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
--- In AsburyPark@yahoogroups.com, Jack Pitzer [EMAIL PROTECTED] wrote: This would be the perfect moment to get Asbury Partners the hell out of here How? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
Good question. I wish I had an answer. Reading Fishman's comments at the end of that article makes my blood boil. --- In AsburyPark@yahoogroups.com, dfsavgny [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, Jack Pitzer hinge98@ wrote: This would be the perfect moment to get Asbury Partners the hell out of here How? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
--- In AsburyPark@yahoogroups.com, Jack Pitzer [EMAIL PROTECTED] wrote: Good question. I wish I had an answer. Reading Fishman's comments at the end of that article makes my blood boil. Well those are perhaps a key to the whole thing. Fishman said he could not discuss if his company could decrease the amount of money it is to make from the Esperanza as the master developer. Is Metro using this as a lever in its negotiations with Partners? Why are we being used as a bargaining chip? Not having something built there is better than having something (again) unfinished. Which is why when I was fighting the ability of Metro to rebuild to the old C-8 height when the plan said it could not if demolished I was against giving Metro a gift. The developer is not your buddy. While you can cooperate, it is a naturally adversarial role that a city must take. Who is our friend now? Something doesn't make sense. If this was intended to be a temporary postponement to regroup and line up additional financing and equity, why not keep it quiet? No one would have noticed a slowdown during the winter. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: When a City Relies on a Myopic Plan....
Looks like that site has a curse on it! --- In AsburyPark@yahoogroups.com, rkgsx [EMAIL PROTECTED] wrote: WOW. That's really, really, bad. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
Re: [AsburyPark] Re: When a City Relies on a Myopic Plan....
Or at least take another look on whether or not it is wise (for anyone) to have so many condo projects undergoing at the same time. Maybe they should go from one finished project to another rather than hope there's enough people to want to move to Asbury to fill all of the places planned. Jack Pitzer wrote: This is a clear sign that validates something many of us have said for a long time...The Asbury beachfront was never meant to be condo city. This would be the perfect moment to get Asbury Partners the hell out of here, and begin redeveloping toward the direction it always should've been...entertainment. --- In AsburyPark@yahoogroups.com mailto:AsburyPark%40yahoogroups.com, dfsavgny [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com mailto:AsburyPark%40yahoogroups.com, wernerapnj wernerapnj@ wrote: Builder puts Asbury high-rise project on hold By NANCY SHIELDS COASTAL MONMOUTH BUREAU The Hoboken developer building the 224-unit Esperanza high-rise on the city's beachfront says it is temporarily closing down the construction site and sales office. Absolutely disasterous. I am quite aware of difficulties being experienced by developers even in NYC, which appears on the surface to be the healthiest market. The cost and availability of financing is drastically different than it was a few months ago. Most lenders are out of the market and those that are in are charging much higher rates and requiring much more equity. What troubles me is Dean's talk of redesigning the project. Hmmm. What does that mean? Either your plan was sound or it was not. Are they looking simply to spend less money or did they misjudge the market, regardless of the credit crisis? What troubles me is that some of us said that this might become another C-8. I hope not. But, how long will the city allow it to be mothballed? How long will we have to sit with another unfinished project? The CAFRA permit was received in 2004. The residential market and interest rates did not start to hiccup until the second half of 2006. Deals to subdevelopers should have been in the works while the CAFRA was pending. I know, I am going back on my recent pledge to move forward and not cry over spilled milk. Not really. But this is what Partners' and its greed has wrought and what we allowed them to do. I am sure the construction lenders simply reneged on their committments. Metro is not the only one in this position. But the financing can be had. More equity must be put in. They paid toomuch for the land. If summer rolls around and that site is idle, it will be validation of all the naysayers who said not to believe that this city could come back. If they are not going to build, make it a park. The worse thing to have is another C-8 hanging around. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
