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LC RiverSouth - 8-Story & 10-Story Apartment Buildings at High & Rich

Home Forums General Columbus Discussion Development LC RiverSouth – 8-Story & 10-Story Apartment Buildings at High & Rich

Viewing 15 posts - 451 through 465 (of 561 total)
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  • #1107597
    Josh Lapp
    Josh Lapp
    Participant

    I think the problem is thinking of Downtown as a neighborhood in and of itself. Its a vast area. We should break it down as River South, Discovery District, Arena District, etc. When thinking of it this way, the area suddenly seems more appealing, more inviting. There is something inherently wrong with the idea of “Downtown” as a neighborhood because the word is so associated with commercial activity.

    That is not to say that the geographic reference itself enhances the desirability of those subdistricts–they are all on the cusp of major transformations. But I do think we should get away from the idea of Downtown, as a whole, as a neighborhood.

    Very, very good point. It seems that when you focus on the nodes of activity (Arena District, River South, Gay Street, and South 4th) you can see how each of these clusters are growing organically and independently and that each one has a distinct feel and identity. I would also note that ‘Downtown’ really only makes sense as a name in NYC, where it truly refers to being ‘down’ the island. I imagine that as each node or downtown neighborhood develops further they will enter the public conciseness as neighborhoods in their own rite.

    #1107696
    Posole
    Posole
    Participant

    Do you think most people want downtown residential? Most people associate downtowns with businesses. They expect high-rises with big companies in them and night clubs and theaters. Those kinds of things are often in conflict with residential living (noise complaints, etc.) Even in NYC, the concentration of nice housing is in the upper east side.

    #1107700
    MichaelC
    MichaelC
    Participant

    Do you think most people want downtown residential? Most people associate downtowns with businesses. They expect high-rises with big companies in them and night clubs and theaters. Those kinds of things are often in conflict with residential living (noise complaints, etc.) Even in NYC, the concentration of nice housing is in the upper east side.

    I’d suggest it’s not about what “most” want. Where someone chooses to live isn’t based upon majority opinion.

    It’s a question of demand. Is there sufficient demand for more residential options downtown? I think that answer is clearly, “Yes.”

    What is the saturation point? It’s hard to say. But our peer cities have downtown residential populations that are two times, three times, etc., larger than ours. So I think we are far from reaching it.

    #1107775
    Walker Evans
    Walker Evans
    Keymaster

    I’d suggest it’s not about what “most” want. Where someone chooses to live isn’t based upon majority opinion. It’s a question of demand. Is there sufficient demand for more residential options downtown? I think that answer is clearly, “Yes.”

    Agreed.

    I’m always surprised (although I shouldn’t be) when someone on Facebook complains that some new apartment development is too small or too expensive, and therefore should not be built. As if every development has to suit every individual’s personal taste. If you don’t want to live in a small apartment Downtown, then don’t. I certainly don’t want to live in any of the new apartment buildings announced. But that doesn’t mean I need to oppose them if other people want to live there.

    #1107781

    JAL
    Participant

    True- the market dictates. When people stop moving into the units that are being built, the developers will stop building them. I also find it interesting that the larger expensive units in all these new builds tend to be the first units leased. It just shows that Central Columbus overall does not appear to be anywhere near saturation point, even with some of the most expensive rentals.

    #1107785

    lbl
    Participant

    True- the market dictates. When people stop moving into the units that are being built, the developers will stop building them. I also find it interesting that the larger expensive units in all these new builds tend to be the first units leased. It just shows that Central Columbus overall does not appear to be anywhere near saturation point, even with some of the most expensive rentals.

    not sure if its true, but I think the higher end units are going due to the influx of workers coming here from much larger Cities. where comp housing is twice the price. (East & West Coasts, etc)

    #1108392

    SteveKZ087
    Participant

    not sure if its true, but I think the higher end units are going due to the influx of workers coming here from much larger Cities. where comp housing is twice the price. (East & West Coasts, etc)

    Anecdotally, as someone who has lived in Boston I will tell you that the “expensive” unit I live in Downtown Columbus is the same price I was paying for my place up there, but I’m getting literally double the space. In industry terms, I’m paying about $1.60/SF here. I was paying around $3.25/SF for my place up there. The kicker is that I’m making virtually the same salary, and cost of living here is comparatively through the floor.

    The bottom line is that, yes, for people coming from the northeast to Columbus, the “expensive” units are not only palatable, but actually feel like a great value.

    #1108403

    indyout
    Participant

    Actually, I think rent is high everywhere. Downtown rental rates here are about the same as downtown Indy, but most apts here seem to have better upgrades, almost to condo specs. When I moved here I sold my car, $325 per month, Insurance $125 per month gas/maintenance $80. That’s over $500 per month that I can apply towards rent, not to mention my apt over looks High and Rich, so I had a view of the construction of 250 High, now the two LC apts, so who the hell needs cable, that adds another $100 to my drinking acct.

    #1108416

    Roger846
    Participant

    <div class=”d4p-bbt-quote-title”>lbl wrote:</div>
    not sure if its true, but I think the higher end units are going due to the influx of workers coming here from much larger Cities. where comp housing is twice the price. (East & West Coasts, etc)

    Anecdotally, as someone who has lived in Boston I will tell you that the “expensive” unit I live in Downtown Columbus…The bottom line is that, yes, for people coming from the northeast to Columbus, the “expensive” units are not only palatable, but actually feel like a great value.

    Welcome, or welcome back, to Columbus!

    #1108437

    Eugene_C
    Participant

    Actually, I think rent is high everywhere. Downtown rental rates here are about the same as downtown Indy, but most apts here seem to have better upgrades, almost to condo specs…

    It might be that your units were built to condo specs. There were a wave of condo developments underway when the Lehman Shock hit the mortgage market. Most of them converted to rental when credit got really tight. Banks were very hesitant to lend in markets without recent historical price data, like new urban infill areas.

    #1115368
    Fur614
    Fur614
    Participant

    Anyone else notice how slow these structures are advancing?

    #1115369
    Eridony
    Eridony
    Participant

    Anyone else notice how slow these structures are advancing?

    I actually saw the site yesterday. They seem to be maintaining their 1-floor per year pace. Hopefully for their sake the demand for apartments is still strong in the 2020s.

    #1115370

    bwitty92
    Participant

    Is there parking going underneath this? That might be causing some of the slow vertical movement. Also, it is the middle of winter. It’s not necessarily the easiest time to be productive outside. I would imagine once the weather warms up and they get the first floor part done the rest of it will go up pretty quick.

    #1115371
    MichaelC
    MichaelC
    Participant

    <div class=”d4p-bbt-quote-title”>Fur614 wrote:</div>
    Anyone else notice how slow these structures are advancing?

    I actually saw the site yesterday. They seem to be maintaining their 1-floor per year pace. Hopefully for their sake the demand for apartments is still strong in the 2020s.

    One wonders if this is their cruel way of announcing that the height of the towers has been restricted to two floors.

    #1115372
    Eridony
    Eridony
    Participant

    One wonders if this is their cruel way of announcing that the height of the towers has been restricted to two floors.

    Ha! One day you’ll go by and see them installing a roof.

    Is there parking going underneath this? That might be causing some of the slow vertical movement. Also, it is the middle of winter. It’s not necessarily the easiest time to be productive outside. I would imagine once the weather warms up and they get the first floor part done the rest of it will go up pretty quick.

    I think there is some parking, but it’s hard to remember since it’s not literally been years since the project started. However, back in November I think there was an article that said this first building would start to “rise” in March. So I guess we’ll find out next month if that’s true or not.

Viewing 15 posts - 451 through 465 (of 561 total)

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