{"id":1740,"date":"2008-10-23T00:14:05","date_gmt":"2008-10-23T04:14:05","guid":{"rendered":"https:\/\/www.aroundfortwayne.com\/news\/?p=1740"},"modified":"2020-12-06T10:42:18","modified_gmt":"2020-12-06T15:42:18","slug":"harrison-square-phase-2-trigger","status":"publish","type":"post","link":"https:\/\/aroundfortwayne.com\/news\/2008\/10\/23\/harrison-square-phase-2-trigger\/","title":{"rendered":"Harrison Square Phase 2 Trigger"},"content":{"rendered":"

\"The<\/p>\n

For some reason, I was thinking that phase 2 of the Harrison Square development would be triggered by a certain percentage of occupancy of The Harrison. \u00c2\u00a0I was wondering how the decrease in units to be built would affect the trigger. \u00c2\u00a0In the Condominium\/Retail Definitive Agreement, page 2, it states:<\/p>\n

<\/p>\n

(b)<\/strong> Commencement of Phase 2<\/span><\/strong>. \u00c2\u00a0Subject to mutually acceptable property of\u00c2\u00a0approximately one (1) acre in size, to be designated as Phase 2, being made available for\u00c2\u00a0purchase by Company, and timely receipt of all permits and approvals from the City, the\u00c2\u00a0Company shall commence Phase 2 of the Project no later than the earlier of (i) three (3)\u00c2\u00a0years from the date of substantial completion of Phase 1, or (ii) two (2) years from the\u00c2\u00a0date that Phase 1 of the Project is 90% occupied, leased or sold, and shall in all material\u00c2\u00a0respects complete Phase 2 within eighteen (18) months of commencement thereof. Phase\u00c2\u00a02 shall consist of the items and\/or parameters indicated in Exhibit C attached hereto,\u00c2\u00a0subject to the terms and conditions described in Section 3.07 hereof.<\/p>\n

(c) Commencement of Phase 3<\/span><\/strong>. \u00c2\u00a0Subject to mutually acceptable property of\u00c2\u00a0approximately one (1) acre in size to be made available for purchase by the Company,\u00c2\u00a0and timely receipt of all permits and approvals from the City, the Company further shall\u00c2\u00a0commence Phase 3 of the Project no later than the earlier of (i) three (3) years from the\u00c2\u00a0date of substantial completion of Phase 2, or (ii) two (2) years from the date that Phase 2\u00c2\u00a0of the Project is 90% occupied, leased or sold, and shall in all material respects complete\u00c2\u00a0Phase 3 within eighteen (18) months of commencement thereof. Phase 3 shall consist of\u00c2\u00a0the items and\/or parameters indicated in Exhibit C attached hereto, subject to the terms\u00c2\u00a0and conditions described in Section 3.07 hereof.\u00c2\u00a0<\/p><\/blockquote>\n

Barry Real Estate has up to three years from the date of the “substantial completion of Phase 1” or two years from the date the 90% occupancy target is reached, whichever is the earliest. \u00c2\u00a0Answers that question.<\/p>\n

Related Images:<\/h3>
\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t<\/div>","protected":false},"excerpt":{"rendered":"

For some reason, I was thinking that phase 2 of the Harrison Square development would be triggered by a certain percentage of occupancy of The Harrison. \u00c2\u00a0I was wondering how the decrease in units to be built would affect the trigger. \u00c2\u00a0In the Condominium\/Retail Definitive Agreement, page 2, it states: Related Images:<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[17],"tags":[63,16,75],"class_list":["post-1740","post","type-post","status-publish","format-standard","hentry","category-harrison-square-news","tag-barry-real-estate","tag-harrison-square","tag-the-harrison"],"yoast_head":"\nHarrison Square Phase 2 Trigger - AroundFortWayne<\/title>\n<meta name=\"description\" content=\"For some reason, I was thinking that phase 2 of the Harrison Square development would be triggered by a certain percentage of occupancy of The Harrison.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aroundfortwayne.com\/news\/2008\/10\/23\/harrison-square-phase-2-trigger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harrison Square Phase 2 Trigger - 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