[CAN] New Mayfield | 41-61m | 11-17lvls | Mixed Use

[Ben]

Unfortunatly for you talking down the success of this development won't stop it from happening.

[MAH]

Unfortunatly for you talking down the success of this development won't stop it from happening.

Correct, what I say will have no impact, but the severe lack of money behind the project will impact its success.

You can say I'm talking down the project if you like, but I'm just posting information that has been passed onto me by people very closely related to the development. The backers have no financial reserves and this equals real risk.

[crawf]

This development proposal is not even a year old yet....

As it's been said so many times now, if you don't like the idea of living next to a high rise building then don't bother living in the city centre.

[Mants]

As it's been said so many times now, if you don't like the idea of living next to a high rise building then don't bother living in the city centre.

better still...live in a high rise building in the city centre!

[MAH]

As it's been said so many times now, if you don't like the idea of living next to a high rise building then don't bother living in the city centre.

What does my place of residence have to do with the fact the project is poorly bankrolled? Yeah I don't like the project, but that doesn't change the situation that the project risks falling over due to poor finances. It doesn't have a backer, so is reliant on making 70% off the plan sales before it will be underwritten. Coupled with soft sales on existing projects indicates significant risk to the project. These facts stand irrespective of my place of abode or dislike for such developments in the residential sections of the city.

Borrowing your own logic, if you love the project so much get some skin in the game, invest in the development or buy off the plan if it makes it that far. Anything else is just cheering from the sidelines.

[Will]

These facts stand irrespective of my place of abode or dislike for such developments in the residential sections of the city.

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This quote is confusing.

This is a residential development. As such, why is it unsuitable for the 'residential' part of the city.

Furthermore, you use the word 'city'. Aren't multi-storey buildings synonymous with a city?

[Waewick]

These facts stand irrespective of my place of abode or dislike for such developments in the residential sections of the city.

.

This quote is confusing.

This is a residential development. As such, why is it unsuitable for the 'residential' part of the city.

Furthermore, you use the word 'city'. Aren't multi-storey buildings synonymous with a city?

guess here, but does he mean projects that are poorly planned or poorly financed and the end result is not nearly as good as the plans?

[rhino]

I think he's talking about having hi-rise behind his back fence. Or across the road or something.

[Waewick]

I think he's talking about having hi-rise behind his back fence. Or across the road or something.

oh, well in that case, toughen up princess

[Wayno]

MAH has been calm & thoughtful in his posts to this thread, considering he's personally impacted. Please treat his input with respect. He realises the ACC brought this situation upon its own residents (refer to my regulatory sclerosis post a few pages back, and MAH's reply).

MAHs recent post (a page back) was about the current financial state of play. Nothing wrong with that. We all know financing in the current climate is tough and has killed other projects. This project has not achieved critical mass yet, but it still could, given time. We'll just need to wait and see.

[Waewick]

MAH has been calm & thoughtful in his posts to this thread, considering he's personally impacted. Please treat his input with respect. He realises the ACC brought this situation upon its own residents (refer to my regulatory sclerosis post a few pages back, and MAH's reply).

MAHs recent post (a page back) was about the current financial state of play. Nothing wrong with that. We all know financing in the current climate is tough and has killed other projects. This project has not achieved critical mass yet, but it still could, given time. We'll just need to wait and see.

That is the problem with this style of development, it needs to have an impact early to drive demand - wait and see means failure.

It will be interesting how they go with the first building, if that is just a mass of NRAS apartments and or serviced apartments the project will be doomed.

[Wayno]

That is the problem with this style of development, it needs to have an impact early to drive demand - wait and see means failure.

It will be interesting how they go with the first building, if that is just a mass of NRAS apartments and or serviced apartments the project will be doomed.

Maybe, multi-phase develoments sure haven't a good reputation (yet) in Adelaide, but too early to tell.

[DaveAdl]

Tagara have set up in the existing office and have been cleaning out for the last week or so ... Getting ready to start demolition .... Good to see this on the move

[metro]

Tagara have set up in the existing office and have been cleaning out for the last week or so ... Getting ready to start demolition .... Good to see this on the move

Fantastic news!

What will make it even better is if they can go quickly from demolition to site works rather than sitting vacant for years/decades.

[DaveAdl]

Tagara have set up in the existing office and have been cleaning out for the last week or so ... Getting ready to start demolition .... Good to see this on the move

Fantastic news!

What will make it even better is if they can go quickly from demolition to site works rather than sitting vacant for years/decades.

Heres fingers crossed