They have 43 condo units under contract now ($385m to $900m price range) and have already sold one of the $1.2million new Peristyle units announced just this past week. This does not include the two top Penthouse floors of which designs have not been announced yet. They say they want to hold price for these under the $1.5 million price point.
^With groundbreaking set to take place for Trianon this spring, Reid says interest in luxury, urban living is at its peak.
Yep, sounds like Spring Groundbreaking.
I wonder how exactly they define "private, direct access to Metrolink". That's one hell of an amenity.
Am I correct in assuming that this development contains no retail? That would be unfortunate considering its location directly between The Ritz/Plaza/Crescent and the Forsyth Metro station. Forsyth/Ritz Carlton Drive seems like a viable corridor for high-end retail, which might encourage greater ridership.
^15,000 SF of retail, 30,000 SF of commercial office space according to the original BJ article. Don't know if that has changed, but their website still mentions shops and restaurants within the project.
Yes, Retail is definitely in the plan for the ground floor of the Tower unit, and for the ground floors of the two buildings to be built in front of it along Forsyth. I think "private access to Metrolink" is a misstatement, but it will only be about a 30 yard walk from the Tower lobby across Trianon property to the sidewalk along Forsyth where the steps lead down to the ticket stile and Metrolink train platform.
Received an email dated 02/28/08 about the progress of this project.....
Trianon Update
"Trianon sales have been strong since our grand opening this summer. With over 30% of the building under contract and ground breaking steadily approaching, we are very excited about what 2008 has in store for the neighborhood! Stop by the sales center today as few units remain in our pre-construction pricing phase."
The email included a new article on transit-oriented development, which featured new renderings of Trianon.
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Mid-rise building for retail and rental residences
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Site plan: MetroLink station, upper right, includes underground pedestrian link to the complex
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The residential complex includes both low- and high-rise rental and condominium units as well as streetfront retail
Trianon Update
"Trianon sales have been strong since our grand opening this summer. With over 30% of the building under contract and ground breaking steadily approaching, we are very excited about what 2008 has in store for the neighborhood! Stop by the sales center today as few units remain in our pre-construction pricing phase."
The email included a new article on transit-oriented development, which featured new renderings of Trianon.
Mid-rise building for retail and rental residences
Site plan: MetroLink station, upper right, includes underground pedestrian link to the complex
The residential complex includes both low- and high-rise rental and condominium units as well as streetfront retail
Wow, that looks amazing. I am so excited to see the cranes. In addition to enhancing the Clayton skyline, it will also bridge the gap between Clayton and the the residential neighborhood just east.
MetroLink station, upper right, includes underground pedestrian link to the complex
“This means private, direct access to Metrolink and plenty of dining and retail shops within reach.”
Hmm, was there some connection built into that station originally or are they going to have to construct this/close Forsyth?
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What is up with the cynical pessimistic attitude? Metrolink's entrance (stairs, ramps, elevator) is accessible by sidewalk and this development clearly contributes greatly to the sidewalk connection from downtown Clayton to the station. This development epitomizes what it means to build TOD, regardless if it is in Clayton or at any other station.
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SMSPlanstu wrote:What is up with the cynical pessimistic attitude?
From who??
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^Hmm seems to go against recent info. Any source? I would have expected them to see what happened with the other penthouses before closing up shop.
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JCity wrote:I heard this is officially dead..sad..
That's not what I have heard. I credit recent statements made within the past couple of weeks by Clayton City Hall for my writing this.
JCity: What's your source of info? Reason for supposed change of plans?
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JCity wrote:I heard this is officially dead..sad..
I sure hope that your wrong because I'd really like to see this get build given the current situation in housing, lending, and financial sectors.
Say, Corporate, maybe you could tell me. How long can a developer sit on a project before they have to bail on it? I mean, how long can they wait for the market to turn around, keep their project alive, and then build when conditions improve?
lets just say I have good sources. not just a rumor. too bad, I really liked the look of this building as well as SkyHouse.
I'm afraid to say that I heard something similar recently. I didn't know it was "for sure" but I know that the project was struggling.
I emailed the sales office this morning, and here is their response:
Yes we are moving forward with the project. Groundbreaking is on target for this summer and we are very excited! We will simultaneously construct both the high-rise tower and the mid-rise luxury apartments with ground floor retail. We anticipate approval next week from the city of Clayton on our final architectural plans. Feel free to stop in the sales office and tour the full-scale model and view out all the wonderful amenities Trianon has to offer.
We appreciate your interest and are very excited for the continued momentum of the project. Everyone will continue to speculate whether the project is moving forward until they see it happening. That is the nature of this business. Feel free to contact us with any further questions.
Yes we are moving forward with the project. Groundbreaking is on target for this summer and we are very excited! We will simultaneously construct both the high-rise tower and the mid-rise luxury apartments with ground floor retail. We anticipate approval next week from the city of Clayton on our final architectural plans. Feel free to stop in the sales office and tour the full-scale model and view out all the wonderful amenities Trianon has to offer.
We appreciate your interest and are very excited for the continued momentum of the project. Everyone will continue to speculate whether the project is moving forward until they see it happening. That is the nature of this business. Feel free to contact us with any further questions.
^ I had a feeling this was still active, TOD projects are just practical and good ideas. I think people are going to be surprised about the amount of development that will pop up around the "controversial" cross county line. I expect the inner ring suburbs like U-City, Clayton, etc. to remain healthy and eventually grow into even more urban communities do to their connections to metro. Although metro has been criticized for overspending and mismanagement (mismanagement cant be denied ) 
, capital investments like metrolink expansions will only economically and socially progress this region, its just convincing the people that metrolink has the potential to serve just as an important part in the community as a new 40, if we invest in it.
, capital investments like metrolink expansions will only economically and socially progress this region, its just convincing the people that metrolink has the potential to serve just as an important part in the community as a new 40, if we invest in it.
Framer wrote:Say, Corporate, maybe you could tell me. How long can a developer sit on a project before they have to bail on it? I mean, how long can they wait for the market to turn around, keep their project alive, and then build when conditions improve?
That is entirely dependant on the developer.
First it was spring - now it is summer. Perhaps the pre-sold qualifications rose. I hope this isn't a bad indicator of things to come.
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Framer wrote:Say, Corporate, maybe you could tell me. How long can a developer sit on a project before they have to bail on it? I mean, how long can they wait for the market to turn around, keep their project alive, and then build when conditions improve?
I really can’t say. My background is in investments, not banking.
What I can contribute, though, is the reiteration that banks, large and small, are exercising rather extraneous caution over near-term lending situations. Because of the run on short-term debt instruments precedent to the giant cluster---- that is the broader economy today, as well as the crash of the credit markets, reputable lenders (or even those that can still draw a breath) are taking the white-glove test to everything that comes their way by means of development opportunities.
Best comparison: think of how much harder it is today to get a mortgage as an individual compared to last year.
Now, think about how a bank looks at a developer wanting to erect a building to house multiple individuals in new housing. The more complexities, the more strenuous a review is in store.
However, so long as the developer owns the land, and is not a “blight” on the community, they can do whatever they want until government imposition, should it ever come.
As well as banks, I’d also look to the contingencies of related legal documents involved and contracts to be honored regarding any named developments. One can’t simply change their minds on a development if they have their signatures attached to something official without risking being drug into court for extended periods, with big fees attached, as well as the negative impacts upon one’s reputation within their industry for failed developments.
Side note: I bet this building will get built as planned, so long as the Clayton architecture commission signs off. No worries.