Over at SkyscraperForum, one of my favorite online hangouts, a discussion of the T. Stacy project at 5th Street @ Congress Av. has been rekindled. Back in January it was reported that Tom Stacy’s team had secured 30 month $44MM loan towards partially funding the development of a full city block along Congress Ave. With a stranglehold on the capital markets, nearly all planned projects have been put on hold leaving general contractors and construction crews looking for work. With some capital in hand T. Stacy is uniquely postured. As construction costs continue to drop, now might be the perfect time to being construction of a project with this scale.
-Jude
