Delays at 2200

I got an e-mail today from a 2200 owner about the delays at Vulcan’s first project.

I am purchasing a unit in 2200 – the new Vulcan Building. As you may know, it is significantly delayed. As part of the full disclosure process, I think it would be helpful for potential buyers to know the true Ups and Downs of the buying process.

While there was never a firm date for closings, the projected date was initially fall ’06. In July ’06 at our Condo Meeting it was put out that closings were in that range. It was not until September that delays were reported. Ever since that time, the delays have become more protracted and at this point, it appears the South Tower or Arter will not be closing until possibly January ’07.

Notably, there has been no apologies. The updates regarding the delays are quite slow in coming out. Further, the excuses that have come up, such as the one I posted on your Blog are sorry to say the least.

Thanks for e-mailing this in. I wasn’t aware that there was delays and I agree that it’s important that all of us go into these transactions with our eyes wide open. This is a good warning about how Vulcan deals with delays and is probably a great indicator of how they will handle delays in their other projects. Other projects where they have already missed a number of initial dates with no explanation. I understand of course being in the technology business how hard it is to predict dates but when you do miss a date you need to own up to it, take responsibility and be honest with your customers. Especially when those customers are either selling other homes to move into something new or are getting out of apartment leases.

Is anyone else waiting for a project to close that is delayed? How was the delay handled? I know Three19 has been delayed but don’t have exposure to other projects near completion.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • jo

    I wonder if we have a shot for Jan/Feb closing at Meritage.

  • jo

    I wonder if we have a shot for Jan/Feb closing at Meritage.

  • http://twitter.com/mattgoyer mattgoyer

    I walk by it every day and wonder (and hope) :). If we don’t I sure hope they let us know that ASAP.

  • http://blog.mattgoyer.com Matt

    I walk by it every day and wonder (and hope) :). If we don’t I sure hope they let us know that ASAP.

  • Dan Ji

    I’m also in the South Tower (Arte) at the 2200 – and it looks like I’ll be closing sometime before the end of November. *knocking on wood*

  • Dan Ji

    I’m also in the South Tower (Arte) at the 2200 – and it looks like I’ll be closing sometime before the end of November. *knocking on wood*

  • http://seattlecondosandlofts.com Ben

    There are a number of projects reported to be behind schedule or delayed in getting started. Some of the delays can be attributed to the cement strike. I’ve heard a few projects are now several months (4-6) behind schedule as a result of the strike, but I can’t confirm if it’s factual or rumor.

    Matt, you’re right…I know people in 2200 who sold their home expecting to move-in back in Oct and are now renting. The delay is also affecting the cost of financing as well. At least, (I heard) Paul owns his own cranes and has deals with offshore steel manufacturers…for what that’s worth.

  • http://seattlecondosandlofts.com Ben

    There are a number of projects reported to be behind schedule or delayed in getting started. Some of the delays can be attributed to the cement strike. I’ve heard a few projects are now several months (4-6) behind schedule as a result of the strike, but I can’t confirm if it’s factual or rumor.

    Matt, you’re right…I know people in 2200 who sold their home expecting to move-in back in Oct and are now renting. The delay is also affecting the cost of financing as well. At least, (I heard) Paul owns his own cranes and has deals with offshore steel manufacturers…for what that’s worth.

  • J-Dog

    Yes! We are right on track for closings at Meritage- See you boys soon :)

  • J-Dog

    Yes! We are right on track for closings at Meritage- See you boys soon :)

  • Dan Ji

    Apparently, knocking on wood isn’t having the desired effect… sounds like Vulacn/Urban Venture is pusing out inspections for the South Tower (Arte) out about 6-8 weeks. So it sounds like the first set of floors will be inspected mid-end of December, with closing for those units 2 weeks after that.

  • Dan Ji

    Apparently, knocking on wood isn’t having the desired effect… sounds like Vulacn/Urban Venture is pusing out inspections for the South Tower (Arte) out about 6-8 weeks. So it sounds like the first set of floors will be inspected mid-end of December, with closing for those units 2 weeks after that.

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