TOE is supporting BYU athletics now?
Cytown Update
- Thread starter norsemen
- Start date
I know on the coaches show about a month or two ago, Jamie mentioned that construction of the remaining CyTown buildings would begin around mid-March. Has anyone heard whether that is still the plan? McFarland Clinic is coming along nicely.
I'm starting to get very concerned about this falling apart... We haven't heard a thing, with construction supposed to start in a month!
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Thats the only thing thats going on there right now FWIW
By this time next year the whole thing is 6 months from complete? Right? Lol
Tens of millions for new parking lots and one nice healthcare clinic...
Only half of the first phase of 60 condos are spoken for. Waiting on 100% before they move forward….
Is this accurate? (not the 50% fill rate, but waiting for 100% fill before proceeding)
I suspect that a Phoenix bowl game would have been prime recruiting time for selling these condos.
At this point, anyone who doesn’t get how this all actually works financially either doesn’t want to or is just not a very smart individual.
I'm hoping that was aimed at others and not me, as there are less than 100 people in this state more well versed on managing and underwriting commercial real estate than me...
The mechanism for which ISU Athletics is funding CyTown is easy to understand (essentially a bridge loan). How they plan to pay bay the investment is stupid. Taking a payment in place of the "projected property taxes" is hard for tenants and most brokers to understand and sell their client (given that the CyTown land will not pay property taxes). What will screw ISU is Goldenrod is supposed to build $175-$225M on their dime. Yet we are already behind schedule and no major lease has been announced, no update on timeline has been given, and we are in prime development season (since the frost is out and high temps are in the 50+).
If this were to fall through and only the McFarland clinic get build, how much would the AD be out? The parking lot desperately needed to be redone anyway.
If it fell through that would probably be it for Jamie though...
If it fell through that would probably be it for Jamie though...
Land leases are not bridge loans. $25 million of hard cash to get the dirt shovel ready is not a bridge loan. That is capital, not debt.
So u understand Golden Rod's balance sheet and their capabilities for real estate investments? Please give an executive summary of the waterfall and cash flow sharing of future free cash flow. Please tell us more.
Please tell us when there will not be a huge, fenced mud pit in the middle of prime tailgate space?
