Monday, September 17, 2007

Just about ready...

We have crossed the first major threshold and have our temporary use and occupancy permit! Last week our architect and brokerage team along with the builder walked all the townhome units on the first two floors to "punch" them and make sure they were ready to be introduced to their buyers. The developer will walk them today to make sure nothing is overlooked. We should be able to allow move-ins by next week!
The third floor (flats) will be walked next week by the inspection team to prepare them for closing in two weeks. The fourth floor will follow shortly after that and then the fifth. Construction is planning on being completed with the site by the second week of November. There will be some lingering issues that have to be dealt with as our neighbor, Treble Flats, gets built.
Treble Flats, the sixteen unit development will be built on the lot that is between 1101 and Scaritt Center. It is anticipated that it will break ground in late October and be finished no later than twelve months from that date. "T Flats" has agreed to expand and better landscape the bio-swale that runs between the two properties. However, that landscape installation may not occur before next spring. The balance of 1101's landscaping will be installed when the weather stays cool for a little bit! The Urban Forester has asked us not to install until that time for fear everything would just die.
There has been a lot of turmoil in the financial markets of late...check out the developer's perspective in this post. The bottom line is that real estate that is reasonably sized and in an excellent location will do just fine.
As we approach the finish line, we need to thank all the hard working individuals at Solomon Builders and all their sub-contractors. They have worked very hard under difficult circumstances to deliver a high-quality product.