Giarratana's Signature project delayed, work to begin 'as soon as practicable' - Nashville Business Journal:

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Tony Giarratana, president of , had said excavation work on the site at the cornert of Fifth and Church streets downtown would begin by the end of Building permits for the project were pulledin "Work will commence as soon as practicable," says When the project does get underway on the luxuryt condominium tower, no public ceremony is The initial construction will cost $5 million. Giarratana says the project is slightlh overbudget - by 2 percent - but he hopes to get back withinb the $250 million plan by Aug. 17. Giarratanwa has spent about $21 million on the project so far.
It will be the Southeast'as tallest building, and will fall 16 feet shor t of matching the Chrysler Building inNew York. Giarratana'a plans put the building at 1,030 still an impressive No. 27 in the world. Although multiple residential projects areunderway downtown, Lee Schaefer, vice president of condominiun development with , says the area isn'f overbuilt. Bristol is developing the Icon and Velocithy residential properties inthe Gulch. "Downtown livinf is here to stay," says Schaefer. "It seems like a lot quicklyh ... We've certainly had our share of doubters.
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