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  1. #1

    Default City Modern Brush Park

    16 condominiums already sold starting at 230k?

    That number is almost half of the entire inventory available in the City of Detroit right now north of that asking price.

    Impressive start to say the least.

    http://www.detroitnews.com/story/new...park/99271192/

    https://www.redfin.com/city/5665/MI/...90896:-83.3388


    http://www.citymoderndetroit.com/index.html

  2. #2

    Default

    I'd say it's a stunning start since they are just breaking ground.

  3. #3

    Default

    Where can I find a pricelist?

  4. #4

    Default

    Quote Originally Posted by SammyS View Post
    Where can I find a pricelist?
    I had a list, until I realized they were way out of my price range..

    About 15 of ~20 Townhouses were reserved (meaning a few thousand dollar deposit). Average price of those were ~730k if you got the optional rooftop.

    Most of the Carriage homes were available at the time, they average about 450k-500k. Only a few were reserved.

    Crazy.

  5. #5

    Default

    Can you send me a link or do I have to go down to the office?

  6. #6

    Default

    Quote Originally Posted by SammyS View Post
    Can you send me a link or do I have to go down to the office?
    You have to go the office, no link that i'm aware of.

  7. #7

    Default

    “We have 16 signed purchase agreements and nine have reservations to sign purchase agreements,” said Randy Wertheimer, president and CEO of Hunter Pasteur Homes, the builder of the carriage homes and townhomes. The average sales price for the units sold is $590,000, he said.

  8. #8

    Default

    Those numbers blow me away.

    1953

  9. #9

    Default

    Link to the site. You can even customize the interior. Pretty cool.

    http://www.citymoderndetroit.com/

  10. #10

    Default

    Overpriced is a understatement.

  11. #11

    Default

    I wouldn't say overpriced. Rents are exceeding $2/sqf and listings are asking between $200-$250/sqf in and around this development.......and yes, some have sold in that range

  12. #12

    Default

    Quote Originally Posted by Cincinnati_Kid View Post
    Overpriced is a understatement.
    Expensive, for sure. But if they are selling, they are not "overpriced."

  13. #13

    Default

    I just keep trying to like these dwellings and just can't. Look thin and cheesy but that's the way of most modern housing. Still they look bunkerish and not appealing to me.

  14. #14

    Default

    Quote Originally Posted by DetroiterOnTheWestCoast View Post
    Expensive, for sure. But if they are selling, they are not "overpriced."
    Hahahahaha. In my city, 90 year old ramshackle houses on standard 33ft lots start at $1 million in the seedier neighbourhoods and go up to $3 million in the nicer ones. Ordinary income earners can no longer buy houses in the city unless they can sell one they bought back when it was affordable.

    Example: see what $2.8 million can buy you. Oh, and it's listed at $500k below the assessed value.

    Just because dwellings are selling for some price doesn't mean they aren't overpriced.

  15. #15

    Default

    Quote Originally Posted by Király View Post
    Hahahahaha. In my city, 90 year old ramshackle houses on standard 33ft lots start at $1 million in the seedier neighbourhoods and go up to $3 million in the nicer ones. Ordinary income earners can no longer buy houses in the city unless they can sell one they bought back when it was affordable.

    Example: see what $2.8 million can buy you. Oh, and it's listed at $500k below the assessed value.

    Just because dwellings are selling for some price doesn't mean they aren't overpriced.
    Vancouver one of the the most expensive cities in N.America?

    This house is a McMansion Candidate? Correct?
    Last edited by emu steve; March-19-17 at 02:44 PM.

  16. #16

    Default

    Quote Originally Posted by Zacha341 View Post
    I just keep trying to like these dwellings and just can't. Look thin and cheesy but that's the way of most modern housing. Still they look bunkerish and not appealing to me.
    I used to think this way too until coming to the realization that a healthy RE market dictates that the land be worth more than the dwelling. Detroit may not be their yet but rapidly approaching this model which is adopted by just about every other place in the world.

    Like cars and other consumables, expendable housing may be the way of the future in major cities and sort after locations. Nothing to say Brush Park has not already been slated by developers to move forward in this direction rather than building dwellings that last centuries. Why not? What is wrong with compromising on material today, razing every couple of decades and then rebuilding with the latest style, amenities and technology? I'll take it!

  17. #17

    Default

    Quote Originally Posted by emu steve View Post
    Vancouver one of the the most expensive cities in N.America?

    This house is a McMansion Candidate? Correct?
    Vancouver has a huge amount of Chinese money floating around and inflating the market. People looking for a safe place to park their riches (or kids, wives, mistresses, etc.) where the Communist Party can't get it.

  18. #18

    Default

    From the Detroit News commentary on the development: "The project that will overhaul 8.4 acres of mostly urban prairie in the Brush Park neighborhood just north of downtown" -- I've always felt Brush Park was ideal for a redevelopment of this sort, mainly due to its proximity to Downtown, Woodward Ave, Foxtown, Midtown, Comerica Park, etc. It's potential was obvious. Not many areas of Detroit have that, and most parts of Detroit - especially the suburbs - could not ask those types of prices.

  19. #19

    Default

    This project is in my opinion by far the best thing going in Detroit.

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