351 replies to this topic

[Barb J]

In a story about General Growth Properties going bankrupt, KCRA Channel 3 News at 5:00 just stated that General Growth Properties owns the Palladio in Folsom. No mention of Elliott - you might want to start there if you want to squash the rumors! When a news outlet as reputable as Channel 3 makes that kind of statement, people tend to run with it!

Now if it was Channel 13.........................

Barb

[DrKoz23]

In a story about General Growth Properties going bankrupt, KCRA Channel 3 News at 5:00 just stated that General Growth Properties owns the Palladio in Folsom. No mention of Elliott - you might want to start there if you want to squash the rumors! When a news outlet as reputable as Channel 3 makes that kind of statement, people tend to run with it!

Now if it was Channel 13.........................

Barb

KCRA has become very tabloid of late... trying to keep their depleting market share in local news. Just because you see it in the media... don't always believe what you hear/see.

If it was 13... I'd definitely discount it!

[mylo]

Some Dec 1st news on General Growth:

http://sacramento.bi...01/daily11.html

General Growth Properties Inc., developer of the long-delayed Elk Grove Promenade, has received a two-week extension on $900 million in mortgage loans that came due on Friday.

[Darthvader]

Some Dec 1st news on General Growth:

http://sacramento.bi...01/daily11.html

General Growth Properties Inc., developer of the long-delayed Elk Grove Promenade, has received a two-week extension on $900 million in mortgage loans that came due on Friday.

I have it on good word that the Whole Foods anchor for Palladio has been put off until 2011 at least.

And GGP stock jumps .41 on good news!

[webuser]

Maybe they can just lay off most of their construction staff and the Palladio site won't be finished until 2011 anyway.

Here is an indepth story on the situation with General Growth Properties.
It is a free article on the Wall Street Journal web site.



http://online.wsj.co...8694888349.html

[folsombound]

Maybe they can just most of their construction staff and the Palladio site won't be finished until 2011 anyway.

Here is an indepth story on the situation with General Growth Properties.
It is a free article on the Wall Street Journal web site.

http://online.wsj.co...8694888349.html

Interesting article laying out the reasons for General Growth's possible failure. BUT, General Growth is not the developer or owner of Palladio. That is Elliott Homes. GGP is just doing the leasing. If GGP fails, there are plenty of other companies that can lease the project. That's if there is a viable project to lease. In the existing retail environment, new projects are going on hold because retailers are not leasing new space and in fact many are going under(Mervyn's, Linens 'n Things, Sharper Image, etc.). I suspect that Palladio will not get fully operational until the economy completely turns around. Has there been ANY news from Elliott about the project in the last 6 - 8 months? I think that anything that has come out has just been rumor.

[555]

I was going to say the same thing. GGP is only handling the leasing. So I would not expect that whole thing to cause a construction delay. Maybe the Whole Foods thing will be delayed. I'm sure they will open stores in phases like The Fountains in Roseville has. I just hope we see good tennants in there.

[JMB83]

I'm told from a reliable source that once Whole Foods pulled out, 70% of the other expected tenants pulled out as well.
R.I.P. Palladio... for now

Bummer.

[Bill Z]

I'm told from a reliable source that once Whole Foods pulled out, 70% of the other expected tenants pulled out as well.
R.I.P. Palladio... for now

Bummer.

I haven't seen a reduction in construction progress at Palladio.

When is the Kaiser facility supposed to open? It looks completed.

[555]

Maybe it'll be a blessing in disguise... Like many others, I was hoping for a better anchor than Whole Foods. See how many tennants would jump on board if we got the area's first Bloomingdale's, Dillard's, or even Macy's. Folsom needs a great department store.

I am sure that's impossible at this stage, but I sure wish HC Elliott could try to make it happen.

[bunny]

May not be 100% verified info, but my wife and some of her co-workers had applied to Kaiser with the intent of working in the new emergency room and the last thing they heard was that the medical offices there would open next year, but the hospital piece with the emergency room might be deferred for a couple of years.

[camay2327]

May not be 100% verified info, but my wife and some of her co-workers had applied to Kaiser with the intent of working in the new emergency room and the last thing they heard was that the medical offices there would open next year, but the hospital piece with the emergency room might be deferred for a couple of years.

Are you saying 2010???

[webuser]

Are you saying 2010???

The hospital has been scheduled to open in 2015 for a long time. This is not a delay.

http://sacramento.bi...tml?jst=s_cn_hl

[Folsom Guy]

I haven't seen a reduction in construction progress at Palladio.

When is the Kaiser facility supposed to open? It looks completed.

Agree about the construction part - it has been continually progressing...visually at least...

Don't 'bout Kaiser though...

[bunny]

When my wife applied there in 2006, the early discussion was that they expected to start opening the emergency facilities in late 2010 or 2011 at the latest.