Friday, May 16, 2008

Medallion Project Back On Track? UPDATE - Medallion Reboot Confirmed!

That's the word on the street today. The mixed use project at 4th and Main that was postponed for one year according to an announcement last week - is now supposedly going to resume construction after progress was made on construction costs and retail leasing.

UPDATE -- Just talked with Tom Gilmore at Pete's - and the builder called him Friday and told him the project is going ahead immediately. Also heard from another source that the bank wasn't too crazy about extending the construction loan which also played a role in the project's resumption. Have also heard from another developer that his bank also still feels good about funding new rental projects downtown.

1 comment:

Scott said...


Could this have been just a canny move on the developer's part in order to get the project moving again?

If it was, then the guy is a lot sharper than I thought.