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Cappelli Financing Appears to Be In Place as Major Firms Join the Project.
Posted on Friday, October 26 @ 00:04:59 EDT by jfbailey
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WPCNR has learned that major design and engineering firms have engaged with the project and begun producing detailed plans to begin construction, indicating financing has been arranged and locked up, but simply not announced.
Observers of the paper trail involving the City Center project have alerted WPCNR that they expect the financing for the Cappelli City Center is in place and has already closed, despite no official announcement.
Evidence for this from seasoned construction experts familiar with the way projects work is that new players have joined the project to work in teams on separate facets of the project: retail, movies, and residential. The sources, close to the project, report the firms engaged are prominent well-known firms which do not do work "on spec," and are very expensive. This would indicate that Cappelli Enterprises has proceeded to hire them to prepare the detailed blueprints needed for official construction to begin.
A tip-off is that National Amusements has its design team working on the theaters portion of the project, so that firm obviously things it is a "go."
Mayor Delfino indicated this in the Tuesday evening Candidate's Forum held at Highlands Middle School in which he said Louis Cappelli had said financing was on track and he expected to close on it in November.
Another factor indicating that closing on the financing has been done is that closing dates do not normally fluctuate on deals this big. Cappelli had said he was closing September 25.
This gives rise to the speculation on part of skeptics that announcement of the closing is being held back, so as not to influence the election coming up November 6, by according Mayor Delfino and his candidates positive publicity. Mr. Cappelli has rarely let grass grow under his feet on this project. Now it appears his hiring of major national firms to prepare plans and designs in fulltilt would at the very least indicate there is no problem, or most likely, that the closing has already taken place.
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