Stroupe has the scoop that there is a big shakeup going on at Escala:
We got wind of some big news happening over at ESCALA. To begin with, the sales center is currently closed for an approximate 3 weeks. A new direction to take place is being discussed behind closed doors during that time.
With something like “130″ sales but only 6 all-cash closes the Excell sales team is out and JLS Team Builder is in. My sources say that the bank has basically taken over the project leaving the developer on the project in name only. The bank is installing this new sales team and apparently will bring a new level of transparency to the project letting people out of contract and moving prices down. Sounds like they’re also going to try and sell Club Cielo. Rumor is Tom Douglas has been interested in the spot to us as a cooking school.
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1 Jillayne Schlicke // Jan 23, 2010 at 2:57 am
Interesting…Pls keep us posted Matt!
2 cameronrex // Jan 23, 2010 at 7:27 am
If the bank sells Club Cielo doest that leave Escala without a fitness center?
3 The MD // Jan 23, 2010 at 5:37 pm
Sounds nice! Nothing says “home” like living on top of a cooking school!
4 chartz // Jan 23, 2010 at 9:30 pm
Interesting that they are going with an out of town marketing agency and a sales team from the East Side of the pond, that is known for sub-urban, not high-rise projects. Other rumors on the street are that the visionary Mr. Las Vegas has been voted off the island. I find that difficult to believe, but there is some kind of big shake up going on top to bottom and it will be intersting to see how the cards land when they fall. At least the real decision makers are coming to grips with reality. Bob Rennie has done some very good work up in Vancouver, but will it translate in provincial Seattle? You can only put so much makeup on a pig, as they say, and buyers in the higher price points are not stupid. Is Escala latin for embarrassment? This blog seems to think so: http://hugeasscity.com/2009/03/09/escala-is-lat... . While don't like the looks of this cheesy, las vegasy project either, I sincerely wish them best of luck in the re-tooling, because the last thing we need in downtown Seattle right now is a completely failed high-rise project. I hope they do well in spite of the challenges in this market. C Hartz
5 robert // Jan 25, 2010 at 2:37 pm
why doesnt someone call Bob Rennie and ask him
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