The vote eliminates from the agreement a requirement that the developer begin construction 10 months after completing a 550-space parking deck under the site.
The parking deck is expected to be finished by the end of the month, but the developers have thus far been unable to get financing for two towers that are to be built on top of the 1.75-acre site.
via Council amends project agreement – Business – News & Observer.
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- None right now. Must be a new project.
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In a way, it is scary to think that 4 developers cannot deliver a project like this :( I mean, 1-2 developers may find it hard, but 4!!! I am glad that some of the restrictions are lifted, though. In this economy, flexibility is necessary if we want to see projects delivered, as long as we don’t get any scale downs. At the same time I am hoping to see more hotel rooms in the area, particularly as the number of larger conventions increases with time. IMO, Charter Square is a nice project and its promise to mix various uses is also very positive.