ATLANTA (Nov. 25, 2009) - When Ben Carter Properties initially announced plans for the ultra-high retail development now known as The Streets of Buckhead, the opening date was some time this month (just in time for Black Friday 2009).
But, as we all know, the economy tanked in large part due to the crash in the bundled-mortgage-security industry that fueled much of the growth in real estate market. As a result, some Streets of Buckhead tenants backed out, filed for bankruptcy or asked for delayed opening dates.
The latest information has construction starting again "as late as early next year," or in a couple months. Because restart dates have been announced and extended, it'll be no surprise if the restart date is pushed back again.
That had led to questions about all the cranes at The Streets of Buckhead - especially why they're still standing if there's no solid estimate about when they might be needed again.
The answer likely lies in the cost of disassembling and transporting the cranes back to from wherever them came. Moreover, demand for cranes is not too high right now, with most commercial construction on the shelf.
Here's some good information about the costs of cranes from an article at Howstuffworks.com by Marshall Brain:
The typical fee for installation and disassembly runs around $60,000. This price includes shipping the crane to the site, renting the mobile crane used to assemble the tower crane, the cost of the crew that handles the assembly, etc. A typical monthly fee for a 150-foot-tall tower crane is approximately $15,000, with an additional charge to rent the climbing frame and extra mast sections.
The information above likely explains why the cranes at The Streets of Buckhead are staying put for now. Let's hope they're back at work on the retain center soon.
Those cranes scare me.
Posted by: Grayson Daughters | November 25, 2009 at 03:32 PM
It's amazing the kind of weight these big cranes can move around. Talk about an impressive piece of engineering. I've always wanted to rent a crane like this. http://winslowcrane.com
Posted by: Charles Brawnyson | January 28, 2014 at 07:35 PM