Well, July 1st came and went. The speculation ran high, but there is now construction activity down at the Museum Plaza site. There is a downside, mind you. Work for the rest of the year will be focused on removing those giant electrical towers and their associated power lines from the vicinity of the Museum Plaza footprint.
Those are a lot of power lines to bury, and without a construction loan, the Museum Plaza investment team has picked up the $15 million price tag themselves. The foundation of the building, which caused major headaches (from too many vibrations) earlier this year has been redesigned and should hopefully start up again around January when the market may be more favorable for the loan. Meanwhile, more trenches will be dug from the new substation at 3rd Street to bury all those lines.