Modera Central | 23-Story Residential

[codypet]

Whoa! Do you think it's going to be visible from Cantina?  How tall are those cranes now with the new adjustments?

[JFW657]

3 hours ago, codypet said:

Whoa! Do you think it's going to be visible from Cantina?  How tall are those cranes now with the new adjustments?

Hard to say.

But judging/guesstimating from this pic....

...and assuming that at 10 floors, the building is currently around 100' tall, with the crane being just a bit over twice as tall, I'd say around 200'. Possibly a bit more. Maybe 220'.

[Nick@Night]

Currently looking at units in Solaire, found this one on Zillow. View from the 26th floor.

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[orange87]

9 hours ago, Nick@Night said:

Currently looking at units in Solaire, found this one on Zillow. View from the 26th floor.

Sent from my SM-G935P using Tapatalk
 

That's an old picture because Modera is much farther along than that now. Also, I hate to state the obvious, but once Modera is completed, it will almost completely block Lake Eola from that view. That's why so many people in Solaire are trying to sell their apartments now. Losing that view of Lake Eola is likely going to reduce the value of their units.

[JFW657]

Personally, I don't see what the big deal is about being able to see Lake Eola from your apartment. Lots of other more interesting sights from that high up that I'd rather see than the surface of a lake. 

Of course, it'll kinda suck during fireworks shows, but that seems like something someone could learn to live with. Hardly worth selling your home over. And I would imagine that eventually the values will come back up again.

Seems like much ado about not much.

[orange87]

1 hour ago, JFW657 said:

Personally, I don't see what the big deal is about being able to see Lake Eola from your apartment. Lots of other more interesting sights from that high up that I'd rather see than the surface of a lake. 

Of course, it'll kinda suck during fireworks shows, but that seems like something someone could learn to live with. Hardly worth selling your home over. And I would imagine that eventually the values will come back up again.

Seems like much ado about not much.

I think the people at Solaire who are selling their apartments might not necessarily want to move, but perhaps they're doing it because they'd rather sell high than possibly than potentially make less money or even sell at a loss if they want to sell later. Everybody must have come to the same conclusion if so many people from Solaire are selling their apartments now. Also, I heard the HOA is really bad there.

[nite owℓ]

I'm pretty sure unit owners would have to issue some sort of view obstruction disclosure - it doesn't seem ethical to hide something like that from a potential buyer. IMO Lake Eola starts to look like a retention pond from higher floors due to it's size. Even so, renters tend to inquire if units have a lake view. And I'm pretty sure people who bought East facing units paid more for the view, so I agree that an obstruction would hurt values. The "Lake view" distinguishes the unit from all the other units with the same floor plan.

[popsiclebrandon]

20 minutes ago, nite owℓ said:

I'm pretty sure unit owners would have to issue some sort of view obstruction disclosure - it doesn't seem ethical to hide something like that from a potential buyer. IMO Lake Eola starts to look like a retention pond from higher floors due to it's size. Even so, renters tend to inquire if units have a lake view. And I'm pretty sure people who bought East facing units paid more for the view, so I agree that an obstruction would hurt values. The "Lake view" distinguishes the unit from all the other units with the same floor plan.

I don't think you could hide it now if you wanted to with how far along construction is. 

[bqknight]

34 minutes ago, nite owℓ said:

I'm pretty sure unit owners would have to issue some sort of view obstruction disclosure - it doesn't seem ethical to hide something like that from a potential buyer. IMO Lake Eola starts to look like a retention pond from higher floors due to it's size. Even so, renters tend to inquire if units have a lake view. And I'm pretty sure people who bought East facing units paid more for the view, so I agree that an obstruction would hurt values. The "Lake view" distinguishes the unit from all the other units with the same floor plan.

I know nothing about Real Estate law but I'm not sure they would HAVE to. Is it ethically wrong? Yes. Legally? Probably not. 

[JFW657]

I'd rather have a north and west view any day of the week than one that looks eastward over Eola Park, South Eola, Thornton Park and onward out to Fashion Square and Herndon etc, etc.

Big whoop.

[tennis32801]

I personally dont think the seller is ethically wrong either. They not hiding anything, proposed plans are available to anyone if they are smart buyers. Heck, in this case, the building is being erected for everyone to see.

[nite owℓ]

9 hours ago, popsiclebrandon said:

I don't think you could hide it now if you wanted to with how far along construction is. 

I was more so referring to units intentionally being put up for sale & sold prior to Modera's groundbreaking. Yes it may be somewhat obvious even now, but potential buyers who aren't development junkies still might not realize how tall Modera will be. I think I recall buyers at the VUE spending more money for South & East facing views so I cannot imagine that trend not happening elsewhere. Let's not forget that the VUE sued to stop potential high rise development on Fifth Third bank's property due to property values, blocked views, etc. Owners alleged the developer nor the Realtors had ever disclosed future development plans that negatively would affect their units. Seems like there is an obligation to be upfront, if not at the very least in order to CYA.

That said, I'm not sure if the Solaire's proximity in relation to Modera or Lake Eola might affect the need for a disclosure as the condo building itself is not directly adjacent to either one, but I imagine a disclosure would be required for park-adjacent buildings like the Vue, Metropolitan, Waverly, Paramount, etc. Besides if there aren't any ethical dilemmas then there shouldn't be a problem disclosing the obstruction to a buyer since there is nothing to hide, right?

Edited August 22, 2017 by nite owℓ

[JFW657]

Modern problems.

[prahaboheme]

The fact that the views of Lake Eola are becoming obscured is a signal that the core is gaining in density and thriving. Those short term losses will be recuperated. 

Lake Eola isn't Lake Michigan.

Edited August 22, 2017 by prahaboheme

[Nick@Night]

There is a lot to parse though here.  Unit price seems to have a much more significant correlation to height then to lake view from what I can tell.  I don't see a significant difference between city view and lake, however height clearly has an impact on value, and as it has been pointed out, the lake becomes less appealing as you move away from the gound. This certainly seems true at Solaire.  For the Vue, the lake probably has a larger impact due to proximity but even then, only the northern most units truly benefit from this.  Again, I think height reigns supreme here.

 

Personally I think the addition of Modera will give an impactful city feel without the claustrophobia, which is what you experience on the city side if you aren't above the two plaza towers. City tower also looks pretty nice in the distance.

 

In my opinion the lake has little impact on price, though I completely understand that the change in scenery is influencing the market.  But in my view it's merely adding an artificial surplus which is actually giving the advantage to the buyers, not the perceived inevitable view obstruction.

 

As for the ethics, clearly anyone buying now, knows, or can anticipate what they're getting into.  For the sellers that were thinking ahead and listed when news broke, I think the responsibility is on the realtors.  I remember when I was considering purchasing a southwest corner unit at the Vue, my realtor warned me that if the Metropolitan was redeveloped I could lose a substantial chunk of my skyline, including the lake view.  Ultimately that wasn't the reason why I didn't pull the trigger on that unit, but it didn't hurt.

 



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[jrs2]

from 6th floor Plaza Garage:

 

[orange87]

Is Modera visible from I-4 yet?

[jrs2]

Modera from Rosalind, Church St, and Pine & Rosalind:

 

[orange87]

Two questions:

- Is Modera visible from I-4 yet?

- This building is going to be 22 stories. Does that include the parking garage floors?

[JFW657]

1 hour ago, orange87 said:

Two questions:

- Is Modera visible from I-4 yet?

- This building is going to be 22 stories. Does that include the parking garage floors?

Don't know about the first question, but I'm pretty sure the answer to the second one is yes.

[orange87]

Still waiting for an answer from someone. Is Modera visible from I-4 yet?

[jrs2]

1 hour ago, orange87 said:

Still waiting for an answer from someone. Is Modera visible from I-4 yet?

that's a toughie, V'ger,  because from approach angles of I-4 E and W, it's hard to see the site.  You can see the cranes briefly.  but the project is kind of hidden behind other buildings from those angles.  BOA hides it, then First Green Bank, then Copper Whopper, then TV13 Building, then the former silver Credit Union building.  It should be visible at this point. Then as you pass, Merchantile Bank, Plaza North, and 55W block your field of vision of it permanently the further west you head down I-4.  Savvy?

for example, heading WB on I-4, when your car is lined up with Pine St., you can see CitiTower perfectly for a couple of seconds, which is twice as far away almost.  You don't have that same type of line of sight with Modera.  You should be able to see it at it's present height, though,

[jrs2]

22 hours ago, orange87 said:

Still waiting for an answer from someone. Is Modera visible from I-4 yet?

your question was better than I thought.  Jefferson Street Garage blocks the line of sight of Modera where it would otherwise be visible from; that and the double garage between there and Central.  Those are so close to I-4 that Modera is barely to the sight line.  However, from Pine St., while passing on I-4, looking past Fire Station One, you can see it in the background.  It is otherwise hidden...

[JFW657]

Oxblue cam night time view...

[dcluley98]

You know, at this point, I would kinda look at buying a condo at a discount rate in Solaire. Lake View-Shmake view. We got density, we got grocery, we got a Walgreens, we got restaurants, we got a movie theater downstairs, we can walk to a Performing Arts theater or a soccer game, we can enjoy ourselves downtown and not worry about an uber and be right THERE. Discount it poorly reacting to the lack of the lake. I can walk to the lake, I don't need to see it when I wake up every day. 

/Probably still couldn't afford it even if it over-corrects.

Edited September 1, 2017 by dcluley98