Sobo Owners,
Thanks so much for your patience over the last few weeks. The buyer has spent weeks and weeks pouring over each and every contract to confirm that all of the terms in the contracts as they should be. This has been a time-consuming task for them.
We received the signed Assignment Agreement from the buyer on Friday, October 3rd.
JANUARY 1st at 5:00 pm is the deadline for the buyer to walk from this deal. We do not anticipate that this will happen based on all of our conversations.
All we can do during this 90 day period is to keep our fingers crossed. There should be no news for us to report to you unless it is bad - so hopefully we will have nothing new to report!
Thanks again. This is incredible!
Subscribe to:
Post Comments (Atom)
8 comments:
this is great news Josh - thanks again!
Can you give us some insight into where Paces Green is in their look-see period? I believe one person said it ends at the end of October. . .if that's the case would we be able to discern Cartel's plan for us at that time? Also, do entities usually take the full 90 days? From our experience last year -we know most companies don't make many decisions the month of December - Do you think the timing will work for or against us?
Thanks for the update Josh, this is good news. As you said, hopefully no news is good news for the next 90 days. It would be good to know the status of Paces Green if that's easily gathered. Thanks again!
Are we still shopping the property, in the case that Cartel does drop the deal? Realistically, this is wise, seeing the current state of our economy.
Until the wait is over , check out sobusocial.blogspot.com...I want to get everyone interested to come together physically. Put names with faces. Talk about the NPU, get our neighbors who are real estate agents to speak with us concerning possible move opportunities, have a casual wine an dine and enjoy the rooftop before we are not able to enjoy it any longer.
I went to the NPU Election day and they said Mrs. Silver said Cartel Properties was not in good standing with the NPU, however on a good note I found that the building across the street will only be 6 stories tall with underground parking...offices on the first level and condos top levels. Our view should not be obstructed. They mentioned a hotel/condo combo canceling their plans to build in the streets of buckhead. I am assuming the hotel in question was the baccaratt hotel. Other topics discussed was the new ownership of a long standing pub in Buckhead. The sanctuary. It will now be a club and not serve food anymore. A $1.50 charge for VOIP (internet calling) 911 calls was voted on. And a Enviromental plan was denied
Josh/Annie,
Do you have any information on Cartel and there status with the NPU?
My post on Cartel was not to scare anyone, we just need to be cautious and not celebrate to soon. I urge more participation at the NPU. I was the only represenative from sobu this past week. The more info we can get, the better we can plan our stratagy.
~Jacob LeBlanc -- Unit 516
here is what I got today form the chair of the board.
Thank you for your interest in the NPU process. All of our board meeting agendas are posted on the City of Atlanta website, but I cannot always guarantee the accuracy of the online version as there are often last minute changes. Also, the agenda may not be posted prior to our committee meetings which meet the second to last and last Tuesdays of the month. Our meeting schedule is as follows:
Public Safety Committee: 1st Tuesday of the month, 6:00 PM
Development and Transportation Committee: 2nd to last Tuesday of the month, 7:00 PM
Zoning Committee: Last Tuesday of the Month, 7:00 PM
NPU-B Full Board Meeting: 1st Tuesday of the month, 7:00 PM
All meetings are held in the Hyland Center of The Cathedral of Christ the King. Although all of our committee and board meetings are open to the public, only sitting board members are permitted to vote. If you wish to speak for or against a particular application, you may attend the relevant committee meeting where you will be heard. The discussion and deliberation of the applications is held in the committee meetings as the full board meeting is more of summary of the committee meetings. If you are interested in a particular application, you may contact me, Sally Silver (Chair, Development & Transportation Committee) or Cory Tibbs (Chair, Zoning Committee) in advance of the meetings to see if it will be heard. I have copied both Sally and Cory on my response.
We will review each application for re-zoning on it's merit and on it's overall impact on the community and make a recommendation to the Zoning Review Board and the City of Atlanta. We have a long history of working with the real estate development community to find solutions for re-zoning that are successful for the development as well as beneficial for the community, but this does not guarantee our support.
Please stay in touch with us to see when the application for this particular assemblage of land will be heard. Let me know if there is any additional information I can provide.
Thanks,
Jeff Shell
Chair, NPU-B
Full board meeting is frist tuesday and strickly zoning meeting is last tuesday of each month. I hope to see some more people from sobu there at the next meeting .
Have a happy thanksgiving week.
Jacob LeBlanc
Post a Comment