FAQs: Frequently Asked Questions

From a construction perspective, the projects have always been expected to occur one at a time.  First the North Phase, followed by the Club Phase and then finally the South Phase.

From a contract perspective, first the North Phase was contracted and now the proposed Amendment contemplates contracts for the completion of the Club Phase and the South Phase. Both the City and the developer are motivated to have the entire project completed and producing as soon as possible. 

Among other things, construction staging is necessary to build the various phases in a manner that avoids a shut-down of all activity – including the Club – at the site.

Phasing also allows time for the retail and residential components to absorb market demand in manageable pieces – i.e., trying to lease all 335 residential units at the same time would be more difficult than leasing the first 91 units on the North Phase and then leasing the South Phase units later. Now that the North Phase is almost completed and leased, the developer thinks it can get financing for both the Club renovations and South Phase.