half a million dollar condos coming to new center

[hybridy]

Cass & York to bring high-end condos to New Center

“Cass & York will have that quality that we haven’t seen in condos. The development will be six stories with 53 units, a “manageable amount of residences to test the market,” says Cummings. The units will average about 1,422 square feet, with prices starting at $430 per square foot—higher than current prices in Midtown.”

more here

[hybridy]

the designer has several Detroit projects with renders I had not seen previously

http://www.v1-studio.com/

[emu steve]

BTW, is the site what is known as 'parking lot 11'? WSU owned it????

[southen]

the designer has several Detroit projects with renders I had not seen previously

http://www.v1-studio.com/

Fantastic find! The Orchestra Hall project on their site looks fantastic. I would love to see that come to fruition.

[SammyS]

$300/sqft for new high end construction is so first quarter 2017

[DetroiterOnTheWestCoast]

I like the mix of glazed and regular white brick.

[hybridy]

BTW, is the site what is known as 'parking lot 11'? WSU owned it????

yes, here is the original article from sale
https://wayne.edu/newsroom/release/2...-building-5998

[emu steve]

yes, here is the original article from sale
https://wayne.edu/newsroom/release/2...-building-5998

Would be nice if something happened on 'parking lot 15' also...

[Jason]

This will be the best designed recent residential building, not necessarily because of anything that it does, but because of what it doesn't do.

It doesn't have a mismatch of materials, a bunch of extrusions, a hat, etc etc. Ironically all of those things cost extra money but make the building worse.

For comparison, below is a rendering of the building The Platform is building on West Grand Boulevard. You can see how it would have benefited from some basic restraint.

[emu steve]

yes, here is the original article from sale
https://wayne.edu/newsroom/release/2...-building-5998

It would be nice if WSU could sell off some of those parking lots, if they don't need them. I'm really thinking of parking lot #15.

It seems there might be a market for nice develop-able land in that area between Cass and Woodward.

Good development energy in the area with the Pistons, this development, and other development in the area.

[SammyS]

This will be the best designed recent residential building, not necessarily because of anything that it does, but because of what it doesn't do.

It doesn't have a mismatch of materials, a bunch of extrusions, a hat, etc etc. Ironically all of those things cost extra money but make the building worse.

For comparison, below is a rendering of the building The Platform is building on West Grand Boulevard. You can see how it would have benefited from some basic restraint.

Agreed and please, no more Orleans Landing rubbish

[DeLemur]

I like the exterior design. Lobby looks like a hotel. 611,000 for 1400 sq/ft is rather steep. I'd be surprised if people purchase at that price. That's a price for Detroit 2024.

[JonWylie]

Agreed and please, no more Orleans Landing rubbish

What’s your big gripe with Orleans?

[SammyS]

What’s your big gripe with Orleans?

Looked outdated the minute they layed the last brick

[JonWylie]

Looked outdated the minute they layed the last brick

I think they look pretty standard, nothing really out of the ordinary or bad, but I guess different tastes

[Hypestyles]

best of luck hopefully they'll find the tenants who like this. I hope updated apartments/condos can come to other parts of the city beyond downtown/midtown.

[Chicago48]

best of luck hopefully they'll find the tenants who like this. I hope updated apartments/condos can come to other parts of the city beyond downtown/midtown.

It won't. Bet on it.

[emu steve]

I have a question about pricing of these condos:

If the price being driven by the cost to build or what the market will bear?

I wouldn't think the market will easily bear that much, but it might be the cost to build dictates those prices.

[emu steve]

best of luck hopefully they'll find the tenants who like this. I hope updated apartments/condos can come to other parts of the city beyond downtown/midtown.

Replying to Chicago48's reply:

I think he is probably right. The biggest factor is the increasing desirability of the neighborhood.

If one is going to build a 6 bedoom 4 bath house they will probably do it is the best neighborhoods. Ditto with apartment / condos.

The neighborhood dictates to a large degree what someone will pay for housing.

In D.C. a Georgetown row house with probably less space, less bathrooms, etc. than my town home probably sells for say 5x what my town home sells.

My land is valued at say $125K. Go to McLean, Va and it doubles or triples.

In Georgetown similar land would be say 1M+.

Certain neightborhoods, e.g., Midtown, New Center, Georgetown, etc. have unique characteristics which might cause the value of residential housing in those areas to be inflated.

And we aren't talking the 'burbs where some of the price of housing is dictated by the pure size of the house [[many are uge, as Bernie would say).

[Wesley Mouch]

The neighborhood dictates to a large degree what someone will pay for housing.

No, the buyer dictates what they will pay. The asking price is simply the owner's request.

...snip...Certain neightborhoods, e.g., Midtown, New Center, Georgetown, etc. have unique characteristics which might cause the value of residential housing in those areas to be inflated.
...

To inflate is an action verb. It suggests that someone is taking the action of inflating. They are not. They are selling. And someone else is buying. Its a voluntary exchange of apartment for money.

Yes, some neighborhoods do have 'unique characteristics' that make buyers agree to pay more.

But in the end, all that matters is that new housing is being built. These buyers won't be moving into older buildings, will they? Those buildings will become more affordable, since some buyers will have bought these units. And so on and so forth all the way through the market. These new condos aid affordability. And that's the holy grail these days I hear, affordable housing.

[rex]

I was wondering how long this would take. Old news. Anyone remember where the 7th precinct building was on Gratiot?

http://www.detroitnews.com/story/bus...dor/105844974/

[K-slice]

I think they look pretty standard, nothing really out of the ordinary or bad, but I guess different tastes

I agree. When they began construction of O.L. it really looked like they may be doing it on the cleap with bulk buys of materials that would be repeated all around the development. Seeing it finished though, I think they did a great job of making the place look authentic and fit in with the existing structures.

[Jason]

I agree. When they began construction of O.L. it really looked like they may be doing it on the cleap with bulk buys of materials that would be repeated all around the development. Seeing it finished though, I think they did a great job of making the place look authentic and fit in with the existing structures.

It's surrounded by prewar factory buildings to the sides and midcentury redevelopments to the north. It's built in the style of suburban chain retail.

[SammyS]

..... I hope updated apartments/condos can come to other parts of the city beyond downtown/midtown.

The free market will and should decide that. The consequence of Detroits decades long decline is that we have cheap land and lots of it. As the inner regions like DT and Midtown mature, florist and outgrow themselves, developer will naturally look at neighboring areas for their next projects.

[Chicago48]

Yes, I remember the 7th precinct. I lived down the street. Back in the day when I was a kid, the detectives visited my house many times. Bad memories.