new building project

On August 15th of last year the membership voted to put the building project on hold for no more than one year. The reason for the hold was because the developer of one of the film studios wanted us to build our new project next to the studios. But it was all predicated on the film bill passing. The bill did not pass so that location is no longer viable.

In February of this year, we started talking to Culinary 226 about a 2 acre parcel they had on their recently purchased campus on Spring Mountain and Lindell, (See pictures below). We were hoping to come to an agreement quickly but since they were moving in they had more pressing issues. In mid-July President Jaynes started to pressure Culinary to counter our offer because the membership was expecting the project to move forward on August 15th.

On August 15th pause ended and on the same day we received a counter from Culinary. President Jaynes called our Owner Project Manager and our architectural firm to make sure they were still interested in working on our project and they were. President Jaynes told them that we had received an offer from Culinary for a ground lease and there were no deal breakers in it. 

So, to answer the question, “Where are we at?” as soon as our attorney hammers out a deal that we feel comfortable presenting to the membership then President Jaynes will call a Special Membership Meeting, and the membership will decide.