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Columbus Underground Messageboard » General Columbus Discussion » Development
Residential Development in Casto Building at Main & Front
[60 posts] [22 contributors]
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Pickerington_Kyle
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Posted 1 year ago # -
Pickerington_Kyle
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columbusmike
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jpizzow said:
Oh wow. I quite like "fantasy" proposals 1 and 2. Good use of brick and glass. Not really digging the townhomes for Main and Front though.Yeah, I'm actually surprised the condo market hasn't picked back up in downtown. I think condos have been given a bad rap lately, especially here in the midwest. They are great investments, but banks and developers don't see it that way, yet.
I agree. Those townhouses are really pretty stupid given the context. This is an idea place for some really simple, modern buildings. What a great location - hopefully they try to get this project done before the Commons apartments come online.
Posted 1 year ago # -
mrpoppinzs
Arena District
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columbusmike said:
Yeah, I'm actually surprised the condo market hasn't picked back up in downtown. I think condos have been given a bad rap lately, especially here in the midwest. They are great investments, but banks and developers don't see it that way, yet.I know quite a few people whose downtown condos are underwater at the moment and some neighbors have been foreclosed on. A couple foreclosure sales really hurt the sale value of other units in a building - the comparables are readily available. This seems to add to a domino effect not as quickly seen in other types. I really would say 'great investment' is questionable. I think the banks are cautious for a reason. It would be fairly hard for a developer to get a large condo construction loan at the present time.
Posted 1 year ago # -
Walker
The KLD / Downtown / Gay Street
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columbusmike said:
Yeah, I'm actually surprised the condo market hasn't picked back up in downtown.Two big factors holding things back:
1. The younger generation (22-30) interested in moving Downtown either can't afford a condo, or don't want to make the commitment to ownership.
2. The older generation (50-65) interested in moving Downtown can't sell their homes to move anywhere, and they don't want two mortgages.
Posted 1 year ago # -
cbus11
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Condos are usually the last to appreciate in a good market - and the first to depreciate in a bad market. If you add to that the cost of HOA fees (higher for multi-story buildings), mortgage and insurance it often makes much more sense to rent than buy a condo, especially in an area such as Columbus. A lot of the condo building boom was fueled by tax incentives and abatements which obscure the true cost of ownership and by developers wanting to cash out as soon as possible.
As more quality apartments become available (something that was lacking in the downtown area and SN proper) I think it will dilute the demand for future condos.
Posted 1 year ago # -
gramarye
In Exile
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Walker said:
Don't let renderings get your hopes up. None of this has been announced as proposed projects.For all we know, it's just pretty pictures.
Even if so, it's good to see that the visions are out there. All of those projects would look great in those locations. Sharing a vision may not actually get it accomplished--but it's a start.
I'm not even really feeling the hate for the townhomes envisioned by the Secure-It building. It looks like good, street-friendly density to me: minimal setback, good vertical building, etc.
Posted 1 year ago # -
Walker
The KLD / Downtown / Gay Street
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gramarye said:
I'm not even really feeling the hate for the townhomes envisioned by the Secure-It building. It looks like good, street-friendly density to me: minimal setback, good vertical building, etc.I like it too. The mix of styles and mix of heights is visually interesting to me. And if the materials used are of high quality, there's no reason it could end up looking as nice as Neighborhood Launch, which is shorter than many urban dreamers would prefer it to be. ;)
Posted 1 year ago # -
Pickerington_Kyle
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I really liked the proposed condo/apartment unit along High street.
Posted 1 year ago # -
heresthecasey
Funkytown
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Walker said:
I like it too. The mix of styles and mix of heights is visually interesting to me. And if the materials used are of high quality, there's no reason it could end up looking as nice as Neighborhood Launch, which is shorter than many urban dreamers would prefer it to be. ;)+1
Urban areas are all about variety. Ultimately it is the quality which matters most. Good buildings come in all shapes and styles, and I have been impressed with Neighborhood Launch.
That being said, I certainly wouldn't want to see it looking like the Annex just north of here. I still can't believe the cheap materials and lousy elevations designs the commissions allowed with that.
Posted 1 year ago # -
Pickerington_Kyle
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I imagine they will be removing those telephone poles.
Posted 1 year ago # -
columbusmike
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I'm not sure I really understand what they are doing. They must be looking for something, but I have no idea what they are trying to find.
Posted 11 months ago # -
News
Columbus Underground
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CASTO Begins Historic Renovation of Secur-It Building
Published on June 14, 2013 2:40 pm
By: Walker
Construction fencing began going up this week around the old Secur-It storage building located Downtown at the northeast intersection of Main and Front Streets, signaling progress on the restoration of the currently vacant warehouse. The building is owned by developer CASTO, which has plans to eventually convert the space into a new residential development.
READ MORE: http://www.columbusunderground.com/casto-begins-historic-renovation-of-secur-it-buildingPosted 4 days ago #
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