Cytown Update
- Thread starter norsemen
- Start date
Finally back to 3 McDonald's. It was a dark day when the McDonald's on Welch closed.
So the timeline for cytown is now TBD until an amendment to the agreement is complete in June? Anyone know when the agenda posts for that?
Trying to stay positive...
Trying to stay positive...
Did Jamie use the term amendment? I don't know, just clarifying.
Every lease that is signed will.have to be ok'ed by the Regents.
Welcome to dealing with a university.
unfortunately anything significant with the project has to be approved by the regents which takes time. They only meet like 6 times a year. Wasn’t clear on what exactly is happening at the June meeting. Maybe approving leases, although it seems crazy the developer would need approval for every lease. Maybe they are changing some of the space configuration/sizes ?
Doesn't the property ownership flip from the university to the research park at some point? Wouldn't this free it from regent control?
Hard to have tenants when no buildings are completed.
Parks and Rec had "Ice Town." And we get "CyTown."
McFarland was a tenant without a building. Or at least was announced prior to construction.
I didn't get positive vibes in any part of that interview. In fact, jamie almost seemed down or defeated. Sounds like the BOR can and is micro managing the project.
They aren't micromanaging anything. This is just how they do business. Throw government and a university together and you have a very inefficient business model. Especially when it comes to making decisions
Take everything that account posts with a grain of salt. The whole premise of the account is actively rooting for CyTown to fail because of a hate towards Jamie.
I'm sure they have tenants lined up, but they can't announce who they are because there are no contracts signed.
can confirm this account hates CyTown. For a while they kept posting images claiming no construction is being done while ignoring the McFarland clinic being built.
He said there will be after the agreements are formalized in June. Listen to the interview and take it in context.
Cytown will happen, it's just a matter of how long it takes to get things approved. I don't get the negativity around it. Worst case scenario is the whole thing gets canceled and we end up with the same parking lots we had previously, but at least they were repaved.
Hopefully there isn't a lot of value engineering going on right now due to the war and inflation because of it. Nice timing on that for sure. I would think a developer would understand that it's a temporary (hopefully) increase in cost. Maybe they're waiting for things to settle out first?
Worst case for me would be a scaled back, half baked Cytown because the costs skyrocketed. I want it to be as good as it can be.
Worst case for me would be a scaled back, half baked Cytown because the costs skyrocketed. I want it to be as good as it can be.
This has been my fear from the beginning, and that's not a shot at ISU or JP, but a reality of how MANY development projects go. They all start off with flashy renderings, full of amenities, and then get value engineered down to bare bones. Fancy plaza becomes "here's a bike rack and a bench". The cool looking "birdhouse" playground becomes a small tot lot. etc. etc. etc.
Hopefully none of that happens. I'm rooting for the project.
