Wednesday, March 28, 2007

"Proposed "twin towers" shrink"

An update on the proposed twin 31 story condo towers, from the Bakersfield Californian:

BY JENNY SHEARER, Californian staff writere-mail: Wednesday,

Mar 28 2007 12:17 PM

Last Updated: Wednesday, Mar 28 2007 1:46 PM

The size of twin high-rise towers proposed at Cal State Bakersfield have gotten a little shorter.

For now, The Towers are 24 stories instead of 32 stories, said developer Carl Cole.

Cole said the project components may change.

For now, The Towers features a town/lifestyle center approach.

It will not include a Nordstrom, Cole said. Retail tenants along the lines of Coach and J.Crew are being sought.

“We think there’s enough retailers coast to coast to enable us to provide upscale shopping without duplicating anything else in town,” Cole said.

Hilton has given Cole a letter of intent to plan and develop the hotel and 1,000-seat conference center.

The hotel will be its own facility rather than situated on top of condominiums, Cole said.

He said the California State University system was concerned two 30-plus story towers would look monolithic.

With the reduction, the towers will be about 50 percent taller than the Stockdale Tower, he said.

The towers will house 500 condominiums ranging from 700 to more than 3,000 square feet.

The project may cost about $400 million and be built in three phases:

• Phase 1: The hotel, convention center, parking and the first tower will be built. That may be completed by mid-2010, said architect David Milazzo.

• Phase 2: The second tower and additional parking will be added.

• Phase 3: Additional retail and office space will be constructed.

The project received conceptual approval from the CSU Board of Trustees in late January.

Here is a link to the most recent story.


beebs said...

Just to fill me in, who is funding these towers? CSU-B?

Bakersfield Bubble said...

They (not even sure who they is anymore as David Crisp name is not mentioned anymore) claim they have investors from NY and London lining up to particiapte in this project.

Rob Dawg said...

8 stories down, 24 more to go.

Bakersfield Bubble said...

8 stories down, 24 more to go.


Rob Dawg said...

What? You think I should include the basement? ;-)

beebs said...

I can't imagine a condo project in B-field of this magnitude. Housing is still pretty cheap there, I just don't see where they can get people to sign up.

Maybe Dollar General or a 99cent store will take up the bottom floor for their "real shopping" experience.


Anonymous said...

Just exactly what projects or developments has Crisp and Cole developed before now? Haven't they only been around as an entity for a few years now?

Interestingly, I saw the article on-line the other day, apparently before the paper added mention of the faculty area and the "environmentally friendly power plant". Guess they had to throw that stuff in the projects to sell the concept to professors... Heh-heh, that'll grease the skids.

Anonymous said...

This project has been and will continue to be about the potential for private development on university land that will provide both short term and long term income to CSUB. This will replace millions of income lost to CA state budgeting over the years. Feasibility and marketing studies and 18 months of research and development keep this project in a state of "development" that hopefully will meet goals of the CSU system and developers as well. C&C has always counted on outside equity partners and developers to accomplish this positive project that is being developed in resonse to an RFP. Check out C&C website for latest info & video.

John said...

beebs, it's Jan 15th 2008 and there still looking for funds to build. 350 million that is being pimped around to private investors by a complete moron. Freaking hilarious......