Thursday, August 18, 2005

Signature Tower May Stand Tall On 5th Avenue, North By 2009

Armed with a bold new design and with a make-over to all-residential (instead of residential, office, and hotel), Tony Giarrartana introduced his plans for the Signature Tower on Wednesday at the Civic Design Center. is all abuzz about the plans, and their conversation is also peppered with hints that the Peabody Hotel in Memphis is looking to build something in Downtown near the proposed baseball stadium.

On the Channel 4 News tonight Mayor Purcell told a reporter that residential units are in such high demand now in Downtown that 10,000 people may be living in Downtown at the end of the decade. The Downtown Partnership seems to affirm claims of a tsunami trend in residential growth as they report that demand for residences is outpacing supply.

At 55 stories, the Signature Tower would dominate the already stunning view of the Downtown skyline from the North End neighborhoods. Giarrartana has some hoops to jump through--getting MDHA approval and selling a good percentage of units before the bank will give him construction loans--but all of the indicators seem green-for-go at this point.

The dramatic in-flight to live in city neighborhoods continues ...

1 comment:

  1. Maybe we'll rent our house out for $4K a month and buy a place in there when it's finished. ;-)