Northern Light
Superstar
Notable highlights - breaking ground in 3-4 years, and completion in 16-20 years.
I'm quite the novice following these types of developments, wondering if this sounds normal/reasonable.
Republic is previously on the record as saying they wanted construction to run about 10 years.
But imagined it starting in 2-3.
The overall pace, in respect of ownership units, will be determined by sales. There is likely a practical limit, large sites like this rarely, if ever attempt full build-out all at once...........
But if sales are slow......it will be one building/block at a time, if they are quick.....it could be 2-3.
There are 10 development blocks proposed, each one would have a construction cycle in the 3-4 year range.
Taken completely consecutively, this would be a 30-40 year timeline. I don't see any risk of that.
So I think you can safely assume they hope to have 2 full development blocks (minimum) under construction at any one time.
I would say the lower end of that range is more likely than the high; but we shall see.
Also wondering where they got the timeline from when there wasn't much else news regarding this elsewhere. I wonder how this project will iteratively complete, will they do building blocks by building blocks? I.E - 2-3 towers every few years with the commercial spaces allocated at grade opening as the towers complete?
This will almost certainly be done in complete blocks, at least in part, insofar as each block is likely to share underground parking in common.
Though we may not see all those details til the Site Plan stage.