Comments on: Tom Fortin Talks Shop on Real Estate Development

By: Walker

Walker — Sat, 17 Jul 2010 14:21:02 +0000

Three things that I think could be done to address the housing affordability issue: - More single-oriented condo buildings like the Yukon, which sold really well... 500sqft studio lofts with pricetags in the $100-150k range. - More student-oriented apartment buildings around CSCC/CCAD/Franklin. It's not uncommon to find smallish 4br/1ba units around OSU rented for a collective $1600-$2000/mo between 4 students. - More family-oriented housing in the affordable adjacent neighborhoods of King Lincoln and Franklinton. Land values are much cheaper and rehab opportunities are practically being given away.

By: ZHC

ZHC — Sat, 17 Jul 2010 06:34:51 +0000

rprpclark

That’s true, I do think that affordability gap is present in most metros between urban and suburban. The difference in Columbus is that our suburban options are much closer commute time wise to the core so it looks worse here than it would say in Chicago. The other issue for developers is that land acquisition costs are much much higher in the core than further out, so that’s factored into the price as well.

I also know that in order for many units to sell at the pricepoints the average developer can actually deliver them at, most would be buyers demand the high end finishes…so it can be a d@mned if you do d@mned if you don’t kind of scenario.

It’s a very tough problem for downtown developers and one most of them seem to be acutely aware of.

I think the best answer is to focus the housing incentives on the areas of downtown where land costs are the lowest,namely the East and the South.

By: Walker

Walker — Thu, 15 Jul 2010 16:52:08 +0000

I’m glad everyone enjoyed this interview. Tom was a lot of fun to chat with, and it’s pretty obvious that his honest passion for Downtown shines through in his words.

By: rprpclark

rprpclark — Thu, 15 Jul 2010 16:42:12 +0000

One thing Tom mentions as a deterrent to more people living downtown (or in the central part of the region) is affordability. Most of the places I have looked at cost double or triple what can be had in the suburbs. Some of that cost is explained by the added expense of building up, not out. But not not everyone wants or can afford high end finishes in and out such as granite, stainless, marble etc.

By: kace

kace — Thu, 15 Jul 2010 16:34:24 +0000

Ditto Lizless and ZHC – he has a great vision of what could be and is working to make it happen. Developers who understand the need of small biz owners and start ups and meet the demand that exists are extremely important to the future of downtown….the mom and pops will make up the new face of DT so we best start accommodating them!

We’ve got momentum in areas downtown that will spread. It just takes time. I’m trying to be patient….:)

Thanks to Tom and Walker for your continued hard work!

And this is why a downtown full of independents and locally owned places would rock: http://www.columbusunderground.com/forums/topic/cafe-brioso

By: columbusyuppie

columbusyuppie — Thu, 15 Jul 2010 10:50:10 +0000

Amazing, Awesome interview Walker. I enjoy reading these snippets about making our city comprehensive.

By: ZHC

ZHC — Thu, 15 Jul 2010 05:26:04 +0000

ditto what Lizless said

I think his comparison of gay to downtown food court is exactly correct. Especially now that downtown’s old food court (city center) has been torn down!

and he is completely right about the disconnect between the excitement zones. There are minihubs of activity throughout downtown, but few overlap and none really share traffic well with others. So eventhough we’ve added quite a bit it hasn’t sparked a positive feedback cycle since we are still aways from critical mass.

Great interview Walker!

By: lizless

lizless — Thu, 15 Jul 2010 04:01:27 +0000

I like Tom a lot. He gets it. And I love the Cube building! Sugardaddies looks beautiful over there covered in pink flowers!

By: colrex7

colrex7 — Thu, 15 Jul 2010 03:51:45 +0000

Excellent interview. Very informative. Maybe Tom will inspire others to invest downtown like he has. What a cool guy!

By: NEOBuckeye

NEOBuckeye — Wed, 14 Jul 2010 23:50:04 +0000

Great interview, Walker. I definitely agree with Fortin that there needs to be some kind of economic incentive on behalf of the city to develop all of the parking lots around NE Downtown (and in general) into residential on retail. With the right moves on the city’s part, and investment from developers, It’s easy to see how Downtown living could reach critical mass in just a few years time.

By: Walker

Walker — Wed, 14 Jul 2010 23:03:23 +0000

I was really happy to hear Tom explain that having specific types of retail amenities leads toward filling office and residential space. It sort of sounds like a no-brainer, but one of the roadblocks I’ve been hearing about some of the larger building owners and property managers is that they don’t have time to worry about their smaller ground-floor retail spaces because they’re more concerned with filling the higher-end office rents. Hopefully some of Tom’s understanding of using retail to attract office tenants rubs off on anyone else reading this interview. ;)

By: jus10dk

jus10dk — Wed, 14 Jul 2010 22:47:22 +0000

Love the realistic, down to earth positivity.

By: futureman

futureman — Wed, 14 Jul 2010 18:23:18 +0000

Nice!

El Arepazo is staying in Pearl Alley and new restaurant by the same people in 51 gay st.