Hat @ 14th Street | 94.48m | 28s | Cidex Group | NORR

[Mountain Man]

They are working on the sidewalks right now - probably need those to be usable to get occupancy.

There are usually fairly large securities the City makes developers post for sidewalk stuff. I'm sure they need those back to close out their financing.

 

[Garceyues]

There are usually fairly large securities the City makes developers post for sidewalk stuff. I'm sure they need those back to close out their financing.

I wasn't aware of this. Any source I can read up on to understand the nuances of this better?


I'm glad that this and the other recent build on the block will add some foot traffic to the area and will hopefully draw some more construction and business that far westward. I think the area still has a ways to go though

 

[Daemon]

 

[jhappy77]

View attachment 572665View attachment 572666

gorgeous view. Miss living in Sunnyside!

 

[Mountain Man]

Such a beautiful city in the summer!

 

[Mountain Man]

I wasn't aware of this. Any source I can read up on to understand the nuances of this better?


I'm glad that this and the other recent build on the block will add some foot traffic to the area and will hopefully draw some more construction and business that far westward. I think the area still has a ways to go though

There's a formula the city uses with developers. I never get into it, just pass on the amounts when they come up in my Development Permit process. Once a DP is approved, the city will advise on the amounts, and these need to be paid in order for the DP to be released. A Building Permit (BP) can be applied for when the DP is approved, but no BP release until you have DP release, and securities are usually one of the last things as developers usually have a ton of money tied up in the city through fees already. The funds are returned once the project is done and the city is happy with the results.