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The Langley: Residential High-Rise At 1717 Bissonnet St.


musicman

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not a scam, I guess it depends on whether you think bitcoin (any blockchain really) is a scam.

https://www.coindesk.com/startup-tokenizes-2-2b-in-commercial-real-estate-through-polymath

what's interesting, if you register, you get to see a 3 year balance sheet. if this is a scam, then it's just numbers on paper, but if it's for real... 

they have a line called, "balance paid at project completion", which shows income in 2024.

there's also project costs area, and within that they have "hard costs" which I assume is the construction budget, it shows minimal outlays in 2022, and then substantial outlays in 2023 and 2024.

I guess we'll see in late 2022 if this is a scam or not if they start construction, and then again we'll get confirmation in 2024 if it completes. I'm inclined to believe it's not a scam, and if I were willing to toss $1000 at a weekend in Vegas, I'd probably take a chance here. but I'm just words on a computer screen, so please don't invest based on my endorsement. 

Edited by samagon
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1 hour ago, samagon said:

not a scam, I guess it depends on whether you think bitcoin (any blockchain really) is a scam.

Blockchain strikes me as a scam, because it's an attempt to create money from electrons. Weirdest thing I heard of was the bitcoin mine being planned for West Texas...🤪

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7 hours ago, samagon said:

not a scam, I guess it depends on whether you think bitcoin (any blockchain really) is a scam.

https://www.coindesk.com/startup-tokenizes-2-2b-in-commercial-real-estate-through-polymath

what's interesting, if you register, you get to see a 3 year balance sheet. if this is a scam, then it's just numbers on paper, but if it's for real... 

they have a line called, "balance paid at project completion", which shows income in 2024.

there's also project costs area, and within that they have "hard costs" which I assume is the construction budget, it shows minimal outlays in 2022, and then substantial outlays in 2023 and 2024.

I guess we'll see in late 2022 if this is a scam or not if they start construction, and then again we'll get confirmation in 2024 if it completes. I'm inclined to believe it's not a scam, and if I were willing to toss $1000 at a weekend in Vegas, I'd probably take a chance here. but I'm just words on a computer screen, so please don't invest based on my endorsement. 

Not really, I don't think bitcoin is a scam, but I can smell a sh!tcoin project from a mile away lol

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16 hours ago, toxtethogrady said:

Blockchain strikes me as a scam, because it's an attempt to create money from electrons. Weirdest thing I heard of was the bitcoin mine being planned for West Texas...🤪

There is a difference between blockchain technology, and bitcoins. Blockchain is becoming a commonly used tool in many applications, due to its publicly trackable chain (hence... blockchain). IBM is already offering a public-domain blockchain application.

Bitcoins, on the other hand, is fabricated, electronic money, that uses blockchain to track each coin. The value of bitcoin is debatable, but the underlying technology (blockchain) has already moved into the public arena.

Clear as mud?

Edited by astrohip
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Just now, astrohip said:

There is a difference between blockchain technology, and bitcoins. Blockchain is becoming a commonly used tool in many applications, due to its publicly trackable chain (hence... blockchain). IBM is already offering a public-domain blockchain application.

Bitcoins, on the other hand, is fabricated, electronic money, that uses blockchain to track each coin. The value of bitcoin is debatable, but the underlying technology (blockchain) has already moved into the public arena.

I remember Ron Paul complaining that paper money wasn't backed by gold. Bitcoin?

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5 minutes ago, clutchcity94 said:

After all these years, how amazing would it be if they named this project The Karen?!

That would truly be one of the best start-to-finish development stories of all time.  The developer needs to be notified immediately.

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From what I read on another website’s forum earlier today, I may be suffering from a “rabid anti-density paradigm” all because I think that stretch of Bissonnet is a stupid place to put this boring-a$$ed tower. Who knew???😳😳😳

Edited by MidCenturyMoldy
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  • The title was changed to Ashby High-Rise: 1717 Bissonnet St.
  • 4 months later...
1 hour ago, astrohip said:

Hmm, should have taken a pic. Maybe it was the annual "we're doing some work onsite just to keep our permit alive". Although it looked to be more than that.

Two things can be true at the same time. Just because you do core samples doesn't mean you then do construction the next day. If they are doing core samples then this is still very much alive.

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Posted (edited)

for this to still be a lucrative business model I think is astounding.

I know I've said it before, but the thought flashes in my mind every time, if it were me, I would have already built an apartment building that had exactly the same number of units as the previous, and made it 100% low income housing. the amount of money they lost from the litigation of this space can't be much different from the amount they'd lose by just doing a project to spite the neighbors.

but then, I suppose continuing to go ahead with the tower design is going to spite the neighbors just as much, and may recoup some of the loses better than the low income housing would.

Edited by samagon
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  • The title was changed to The Langley High-Rise: 1717 Bissonnet St.

It is a beautiful building and I think a nice addition to the area. I am 100% behind preserving our single family home communities... but this doesn't really harm anything. Some neighbors will see it in their peripheral sights, but I almost think it would improve the area overall.

build baby build!

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2 hours ago, KirbyDriveKid said:

The opposition sparked a yearlong battle to squash the project

Squash it with what - a monster truck? A steam roller?
I think the developer would quash any efforts to do such an unlikely thing.

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  • The title was changed to The Langley: Residential High-Rise At 1717 Bissonnet St.
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