'We'll be breaking ground by the end of year'
'We'll break ground within two weeks'
Anyone who has followed Aura at 6th and Capitol Mall has become familiar with these words.
Now it looks like Aura needs a 10M loan to fill financing for the project. Great.
At least it looks like it will be a market rate loan for the duration of construction instead of a subsidy.
The parcel is still hasn't been sold to Nassi. His option expired a while ago and he and David Taylor haven't agreed on a new price yet. I'm sure Taylor is asking for a bit more than he originally had.
He said he has locked in construction prices for electrical systems, concrete and glass which sounds like could be huge for preventing higher costs down the road.
Initial reports were that Aura sold 80% the first weekend, then we heard 75%, then 70%, now the staff report says 65%. Interesting. I know one person who backed out and bought a place at L Street Lofts because they were tired of waiting for ground to break.
Aura sure is a nice looking building and I'd love to see it built, even if the parking garage stick out like a sore thumb. It would be nice to sit back and actually watch a couple of these towers get built with out all the drama