Building Project Update

 
Good news! Denver has provided us comments on our building permit application, some of which are significant. They have asked for changes (not unexpected) and our architect has made revisions to the construction drawings which we hope will address Denver’s concerns and still maintain our project intact while keeping cost impacts down. We resubmitted our revised plans, and the plans have been approved by the Landmarks Commission. (The plans had to go through Landmarks again because some of the changes involved the exterior of the building.) The plans are now with the Planning Department again. We hope to hear soon!
 
What does this mean for our construction start? If the revised plans are approved by the Planning Department as submitted, we hope to finalize the project budget, close our construction loan and move toward the start of construction by mid to late October. As always, this is contingent on items outside of our control, including how long Denver’s review takes, any comments we may receive from Denver on the revised plans, and the speed with which we can close our construction loan after we have a building permit.