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Society | 28- & 17-Story Residential [Under Construction]


Jernigan

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9 hours ago, JFW657 said:

Thanks.

As usual, I was being facetious, but it would kind of surprise me if they did month by month with no lease.

Sounds kind of low-brow for such a building;

I don't think it's a bad idea, or even necessarily low-brow.  It could be great for young professionals moving to Orlando that want to get a feel for the city before committing to an area for an extended time.  A step up from the sketchy weekly places.

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1 hour ago, Jvest55 said:

Christ, I didn't realize X-Orlando was going to be like a "dorm experience" LMAO. 

Orlando needs to GROW UP. 

Good thing if you want a regular apartment, there is... 55 West, The Grande, The Vue, Metropolitan, Aspire, Plaza, Steelhouse, Skyhouse, Nora, The Sevens, Camden Orange Court, 420 Church, Citi Tower, Modera... soon to be 520 Church, Radius, Orange/Robinson

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7 minutes ago, AndyPok1 said:

d thing if you want a regular apartment, there is... 55 West, The Grande, The Vue, Metropolitan, Aspire, Plaza, Steelhouse, Skyhouse, Nora, The Sevens, Camden Orange Court, 420 Church, Citi Tower, Modera... soon to be 520 Church, Radius, Orange/Robinson

I thought that was assisted living?

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3 hours ago, Jvest55 said:

Christ, I didn't realize X-Orlando was going to be like a "dorm experience" LMAO. 

Orlando needs to GROW UP. 

Uhhh...this is actually very "grown up" of Orlando. Miami has these, NYC has these and they are becoming a huge market on the West Coast due to cost of living. I'm actually surprised they think it will work in Orlando but I'm going to assume they try to grab straight out of college grads who want to live DT but can't due to cost. 

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12 minutes ago, bqknight said:

Uhhh...this is actually very "grown up" of Orlando. Miami has these, NYC has these and they are becoming a huge market on the West Coast due to cost of living. I'm actually surprised they think it will work in Orlando but I'm going to assume they try to grab straight out of college grads who want to live DT but can't due to cost. 

Yeah this is something usually found in denser cities so its nice to see. Its not entirely dorm style either.

Also quite a few condo buildings downtown. It seems the market isn't there and townhomes are ruling the day currently.

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21 minutes ago, popsiclebrandon said:

Yeah this is something usually found in denser cities so its nice to see. Its not entirely dorm style either.

Also quite a few condo buildings downtown. It seems the market isn't there and townhomes are ruling the day currently.

I recently visited a friend's friend in Seattle who lived in a dorm-style room without any of the amenities and loved it. It came with a sink and microwave, personal toilet (shared shower), and steps to light rail.  Social time spent in park across the street, restaurants, coffee shops, bars, library, etc., and was very happy that housing wasn't a huge part of his budget. 

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1 hour ago, bqknight said:

Uhhh...this is actually very "grown up" of Orlando. Miami has these, NYC has these and they are becoming a huge market on the West Coast due to cost of living. I'm actually surprised they think it will work in Orlando but I'm going to assume they try to grab straight out of college grads who want to live DT but can't due to cost. 

I'm guessing they still won't be exactly "cheap" though. 

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I think you guys need to understand what they mean when they mention "dorm like units" - They usually describe group living (4 small bedrooms with en suite bath, common area & kitchen) in which each bedroom is its own separate lease (I happen to know exactly what PMG is planning and its the aforementioned).   Its not like every unit connects to one central bathroom core, nor is every unit completely devoid of a kitchen.  Happy to answer more questions, I recently underwrote a structure of this sort in Chicago.313020099_C1_RBBno-furn.jpg.3ff8aca2993e12f531e4e92be070446f.jpg

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Also I would note, the colored floorplans above come direct from PMG's other project in fort lauderdale, so its likely they are reusing the same floor-plates.

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1 hour ago, ChiDev said:

I think you guys need to understand what they mean when they mention "dorm like units" - They usually describe group living (4 small bedrooms with en suite bath, common area & kitchen) in which each bedroom is its own separate lease (I happen to know exactly what PMG is planning and its the aforementioned).   Its not like every unit connects to one central bathroom core, nor is every unit completely devoid of a kitchen.  Happy to answer more questions, I recently underwrote a structure of this sort in Chicago.

Also I would note, the colored floorplans above come direct from PMG's other project in fort lauderdale, so its likely they are reusing the same floor-plates.

I got a pretty good idea of what they are after smileguy's description a few posts up. 

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I think it's pretty awesome.  Would I want to live in one long term?  No.  But when I moved downtown in 2013, it was either a 1/1 for $1500 or a 2/2 for $1600.  I absolutely would have rented one of these for 6 months/year until I found something better.  Also, the downtown condo HOA prices as astronomical.  Almost no one wants to pay them.  I'm the target audience for a downtown condo, and I can't remotely justify it.

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4 hours ago, Jvest55 said:

Only 2 that you listed are condo's. I'd like to see condo developments, where you see real investment from actual people. Star Tower, Vue and Sanctuary are the only ones right now. That's what I mean by growing up. 

I completely forgot about Star and Sanctuary (and Paramount!), but Grande, Met, and Plaza are all condos as well.

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50 minutes ago, Jvest55 said:

Seems ridiculous. This is where rental companies go too far, building garbage like this. 

You aren't really making a point here, what is "garbage" about it?  It appeals to students and other younger renters, the sever-ability of the lease means that they aren't beholden to finding sub-letters should a roomie move out.   The units also hit a specific price point that appeals, they come in well under your average studio price, & does not stick the renter with a high $ chunk rent normally associated with a  2 bedroom unit (which they would be liable for if the lease were shared but in their name).

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1 minute ago, ChiDev said:

You aren't really making a point here, what is "garbage" about it?  It appeals to students and other younger renters, the sever-ability of the lease means that they aren't beholden to finding sub-letters should a roomie move out.   The units also hit a specific price point that appeals, they come in well under your average studio price, & does not stick the renter with a high $ chunk rent normally associated with a  2 bedroom unit (which they would be liable for if the lease were shared but in their name).

I wonder what kind of "guest rules" (if any - specifically the overnight kind) they'll have to implement in order to keep things peaceful and harmonious. If I was renting a bedroom and had to get up early in the morning for school or work and someone on the other side of the wall was always bringing "friends" home and having noisy "fun" all night, I would not be happy.

I'm assuming they'll have separate male and female sections, or has our society moved past such old fashioned considerations?

Loud music rules? No smoking rule I'm sure. 

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33 minutes ago, ChiDev said:

You aren't really making a point here, what is "garbage" about it?  It appeals to students and other younger renters, the sever-ability of the lease means that they aren't beholden to finding sub-letters should a roomie move out.   The units also hit a specific price point that appeals, they come in well under your average studio price, & does not stick the renter with a high $ chunk rent normally associated with a  2 bedroom unit (which they would be liable for if the lease were shared but in their name).

Alright, then I assume you're moving in right? Good luck.

Cities increase in wealth when you have ownership, not these dopey college rentals. Sometimes I think I'm in a dream talking to myself here. Guys, the reality is, nobody with a serious salary is going to live in this building, and none of the people in this building will contribute anything to downtown other than paying the buildings investors off and maybe the new Taco bell.

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37 minutes ago, AndyPok1 said:

I think it's pretty awesome.  Would I want to live in one long term?  No.  But when I moved downtown in 2013, it was either a 1/1 for $1500 or a 2/2 for $1600.  I absolutely would have rented one of these for 6 months/year until I found something better.  Also, the downtown condo HOA prices as astronomical.  Almost no one wants to pay them.  I'm the target audience for a downtown condo, and I can't remotely justify it.

I would have liked to see a regular units at this new development where people could maybe rent-to-own, if the idea was to cater to a junior professional, that might make sense. As far as the direction they are going, it's a dangerous one. Developers are taking away one of the biggest wealth creation tool in the US (owning real estate) and putting people in silly rentals with less space and freedoms, with no path to ownership.

 

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