Neighborhood Launch - News & Discussion
July 24, 2013 9:31 pm at 9:31 pm #456257
@innercore – agreed on your point too. I love having this “Neighborhood” in the heart of downtown but not directly on High Street. The location is perfect and once the rest of it is filled in I think the demand will actually grow even more to be in this area. Also, as a side bonus, it will connect CCAD with downtown with very walkable streets. I’ve strolled up and down that street multiple times just because its relaxing and beautiful.
Yep, this is where I think the Annex at RiverSouth really missed a big opportunity. That location was perfect for height with river views and they put up 3-stories.July 24, 2013 9:36 pm at 9:36 pm #456258July 24, 2013 9:38 pm at 9:38 pm #456259
Just for reference, the highest buildings in downtown Columbus are 40-50 stories tall. Considering that the most recent residential projects (even in the Short North) don’t even reach 10 stories, I think that’s pretty pie-in-the-sky. I could see some 10-story buildings going up if the market stays as white-hot as it is, but beyond that, this just isn’t the market. The Columbus metro only has 2.3 million people and sprawls across 17 counties encompassing almost 8500 square miles. Charlotte’s metro area, by comparison, is half that size. I’m not convinced that Columbus’s downtown could absorb units of the size you’re discussing without seeing a big drop in prices, which I don’t think anyone is interested in.
The overall size (space) of a metro has nothing to do with developing in a certain area. Charlotte is a great example. Charlotte is building plenty of 20+ story buildings in the urban areas. What does it matter if they aren’t as spread out as us. Building 300 units in one neighborhood is building 300 units in one neighborhood. As I pointed out earlier the areas that would suffer would be the suburbs. As price become more affordable in the more desirable areas you would be taking away the key reason to be in the suburbs. Right now more people want to be in urban areas. The issue is that they move to the suburbs for either space or price. Taking the price advantage away would only leave the people that have to have space. Which among the generation moving into household formation stage isn’t the key factor.
Effective rents are going up HIGHER than average in Columbus, especially in urban areas. That because right now the demand is outpacing supply. So right now what you have is a situation where rents are going up faster and wages are going up. So if you want to live in an urban area even though they are building more its still becoming more and more UNaffordable. At the very minimum we should be building at a pace where rents are only increasing in line with wage growth. So considering the the more we build in these undeserved neighborhoods the more the demand increases we would have to increase supply by A LOT before we get to the point of and serious decrease in prices.
MHJ said:The problem with that is what you already mentioned: parking. That parking garage is a critical piece of infrastructure for downtown workers. It’s 95% full from 9-5. You couldn’t tear that down without creating more parking in its place or providing these folks driving in from the suburbs to work with more transit options — and a handful of express buses won’t cut it. I would think that tearing down that garage is one of the last things that would happen after some alternative transit from suburb to city has been firmly established.
Reread what I wrote. The parking on that lot is extremely low dense. You essentially have 4 levels spread out accross 6 acres. You could easily incorporate 6 to 8 level garages through the site and retain the same number of parking spots.
MHJ said:Downtown Columbus doesn’t need a streetcar (yet) — a reasonable circulator bus, similar to Cleveland’s trolleys, would serve the same purpose and be much less expensive (and disruptive) than building a streetcar.
See the thread about parking in the SN, I advocated for a circulator. But the issue isn’t about getting by. In the SN you already have a lot of demand so getting by is fine. Downtown you want to spur demand and a circulator isn’t going to do that. The problem with the wait, wait, wait, mentality is that is cost you more in the long run. Basically the fact that you’re trying to push the system off for the future means you know it’s needed at some point. So here are some things to considered:
1.Interest rates are at all time lows but are now starting to increase. Building it today would cost less money vs. building it 10 years from now.
2.Building it now would increase property values now. So let’s say you build it today. The property values in the surround area would start to increase now. So sure you could build it in the future but you will never be able to go back in time and recoup the increase in property values in the previous years.
3.The opportunity cost of business and people that you don’t attract because you don’t have solid transportation. I can show you reports where investor basically wont go into an area without solid transportation because investing in transit orientated development is viewed as much safer. You can look at net migration and see that people are choosing to move to other cities where these are investing in public transit that helps create the urban walk-able neighborhoods that people want. If a person choose to move to Charlotte over Columbus even if they do eventually move to Columbus you cant get the taxes, money, etc. they would have spent the years that they weren’t there.
So if we wait 10 years were still going to have to build it anyway and we’ve lost out on the benefits that it would have provided for those 10 years.
MHJ said:I hope I don’t come off as a naysayer.
Don’t worry, I’ve got you beat on that one.August 27, 2013 8:35 pm at 8:35 pm #456260September 16, 2013 8:50 pm at 8:50 pm #456261
Any word on rents?September 29, 2013 5:02 pm at 5:02 pm #456262October 16, 2013 1:47 pm at 1:47 pm #456263
Looks like the very top of the apartment building is going up. The carved out decor on the top is really going to make this building have even more character! I tried to get a picture but wasnt able to.October 28, 2013 2:17 am at 2:17 am #456264December 20, 2013 4:47 pm at 4:47 pm #456265
Brioso Coffee Expanding to Neighborhood Launch
Published on December 20, 2013 11:45 am
After 12 years in business, Café Brioso has outgrown their popular spot at the busy corner of Gay and High Streets Downtown. The small on-site roaster isn’t enough to keep up anymore, so a new larger roasting facility is planned to open next year in a portion of the old Faith Mission building at 315 East Long Street, now owned as a part of the Neighborhood Launch development.
READ MORE: https://www.columbusunderground.com/brioso-coffee-expanding-to-neighborhood-launchDecember 20, 2013 8:00 pm at 8:00 pm #456266
Has the city mentioned anything about Long Street converting to two-way? I thought I read a while back it was being talked about making it 2way with tree lined median.December 20, 2013 9:16 pm at 9:16 pm #456267
Has the city mentioned anything about Long Street converting to two-way? I thought I read a while back it was being talked about making it 2way with tree lined median.
Past renderings of Neighborhood Launch Apartments have shows a much prettier streetscape on Long Street that included a two-way conversion. But I’ve never heard anyone with the Dept of Public Services confirm any sort of timeline for Long Street work of any sort.
Overall it seems like the two-way conversion process is behind schedule. The work on North Front & Marconi was planned for this year and hasn’t started yet:February 24, 2014 4:37 pm at 4:37 pm #456268
Took a couple of new photos. Not a whole lot has changed on the exterior too quickly in the past month. Cold outside! ;)May 12, 2014 6:09 pm at 6:09 pm #1015776
Pretty impressive 5 of the condos are already reserved for the new row of townhomes that haven’t even started construction along gay street. They also released pricing for the units.May 12, 2014 6:18 pm at 6:18 pm #1015778
2nd phase of Edwards’ Bishop’s Walk condos priced as construction nears
Brian R. Ball
Columbus Business First
May 12, 2014, 12:37pm EDT
The next phase of the Bishop’s Walk condominium development in downtown Columbus is attracting early interest.
Developer Edwards Cos. released pricing late Sunday for 15 of the 26 townhouses and flats planned for the Bishop’s Walk II project that were approved by the Downtown Commission nearly 10 months ago. The units on East Gay Street east of Normandy Avenue already have attracted buyers.
“I have four reservations this morning,” sales manager Sue Cass told me Monday, “and I have more appointments this afternoon.”May 15, 2014 3:42 pm at 3:42 pm #1016477
And to me, here is why real estate is cyclical. We’ve been building apartments for around 3 years now with little to no new condo construction, so the demand is back. It doesn’t surprise me that condos here are going quick because I don’t know of any other place building new condos downtown right now.
The forum ‘Development’ is closed to new topics and replies.