Jump to content

College Park Commons

Florida

By Florida
in Tallahassee

Recommended Posts


  • Replies 132
  • Created
  • Last Reply
  • 2 weeks later...
celebrated Whistle-Stop

celebrated

Posted
Posted

I was browsing the MLS listings and noticed they are now selling the College Park Commons units. I was surprised the prices are sky high. The lowest priced unit is $338K for only 968 square feet. $350 sq/ft seems very high for Tallahassee. The largest units are 2005 sq/ft and priced at $738K.

Link to comment
Share on other sites
P_McLane Whistle-Stop

P_McLane

Posted
Posted

Those prices will have to come down. If the builder cannot build for less, then this project is dead. Tallahassee cannot afford an entire building of 400K+ one- and two-bedroom apartment homes. No matter how much gas and time you will save not driving in to work/school. Especially when there are condo fees on top of the monthly mortgage. I am sorry, but this is not realistic for our housing market. 400K can buy a premier luxury home two miles from downtown.

Is the groundbreaking of this project contingent on selling enough units up front? While beautiful and ideally located, there is no way that these condos will sell out. At half-a-million bucks anyone who might have been thinking of own-to-lease would be very hard pressed to find a renter willing to pay $2500 a month.

Link to comment
Share on other sites
Florida Megalopolis

Florida

Posted
  • Author
Posted

I said the exact same thing after learning how expensive they would be. However, you've got to trust the experience of Chip Haurtung and Caldwell Banker, they've been in the Tallahassee Real Estate business for a while and they know the housing market better than anyone. If they are comfortable building it, they're working at their own risk.

Our market analysis indicated that Tallahassee could support 1500 condominiums 5 years ago. I know for a fact that most of those condominiums would have to be affordable YET no one has stepped forward with plans to build anything your regular government employee can afford. Hopefully the day will come.

How do you all feel about a government subsidized affordable condo project downtown?

Link to comment
Share on other sites
P_McLane Whistle-Stop

P_McLane

Posted
Posted

I truly do hope that their prognosis is correct and that Tallahassee can afford such a building. Those quotes must mean that the amenities at this building are going to be beautiful. All top-tier appliances, hardwood floors, stone/corian sinks and countertops, custom tile bathrooms? For 400K the builders must be offering 1000 sf. of unrivaled luxury.

As for a subsidized condo project, I have seen it tried in other cities (Birmingham, AL at present.) And I would be happy to live in a nice downtown condominium if I could afford it. But can BUILDING COSTS be controlled by government dictum? It is my understanding that the raw expense of materials and contract labor is what has driven the costs of these condo projects up so high so fast. Even if the subsidy erased the profit mark-up, what savings are we talking about over the free market cost of raising a 15-floor condo?

Link to comment
Share on other sites
Florida Megalopolis

Florida

Posted
  • Author
Posted

In speaking to the representitives for the Caldwell Banker Project (College Park Commons) they've ensured that these will be very much the luxury condo filled with all of the high-class appliances and decor. That said...

The Tennyson is likely a $20 Million dollar project, at roughly 100 units. thats a cost to the developer of $200 a square foot and they are willing to sell for $250 sq.ft. to make a profit. If the government could offset that $50 for this project the government would have to front $5 million dollars. Would it be worth it to you all?

I guess this synario basically says to a developer, come build a condo for us and we'll pay you $5 Million dollars.

Link to comment
Share on other sites
TD Burg

TD

Posted
Posted

any construction dates???? they have started selling units at Symphony, College park commons, 417 park right? I wanna see these kick it into high gear and go up.....

also what is the project that was off of macomb and call i think? signs of life for that one?

Link to comment
Share on other sites
  • 2 months later...
csmurphy8885 Burg

csmurphy8885

Posted
Posted

Anyone one else get this email update? Sounds like cheaper design a brewing. I hope we dont lose too much of the original designs sexiness.

"After several months of marketing we have discovered, unfortunately, that there are many uncertainties related to the cost of the project. We have become very concerned over whether we can deliver the project in the price range promised due to rising construction costs.

We will keep you informed of our revised plans and give you first opportunity to be involved in a newly redesigned College Park Commons which will offer more affordable priced units. Again, we thank you for your interest and participation."

A lil shake up, or major hold up?

Link to comment
Share on other sites
  • 6 months later...
  • 5 months later...
  • 4 months later...
  • 4 months later...
Florida Megalopolis

Florida

Posted
  • Author
Posted

College Park Commons: We're Back!

Just recieved this in my e-mail.

We are currently in the process of reviewing preliminary architectural plans for the development and construction of College Park Commons condominiums. Those of you receiving this email have expressed an interest in the past of CPC. We see a need for this project; which, certainly is in a prime location just one block from FSU Westcott Gate. And, we feel the timing is a lot better than our previous planned development two years ago. Also, we recognize the importance of scaling down the project from the previously planned magnificent condominium with all the "bells & whistles". However, we do want a development that we all can be proud as a developer and owners. The City of Tallahassee does have plans for a huge "facelift" of College Avenue from downtown to the University to be done in the very near future. College Park Commons will play a vital part in the enhancement of College Avenue.

We are very excited about getting this development going and we want to make sure we do it right and invite your participation. I have attached two items, our current web page and a questionnaire for your input. The questionnaire is designed to allow you to quickly check your responses to each question. It would be greatly appreciated if you would complete the questionnaire and return to me.

Our web site www.CollegeParkCommons.com will be back on the Internet in the next couple of days. We will be updating the site as soon as we have our initial architectural completed.

Don Pickett, Realtor

Exclusive Agent

College Park Commons Condominium

850-591-4725

850-386-1797 Fax

[email protected]

Link to comment
Share on other sites
csmurphy8885 Burg

csmurphy8885

Posted
Posted

Thre were alot of Palm added to the college ave strip (potbellies, etc). Pogress in that niche of DT will be awsome. I am getting all excited again like i was back in the begining of 2006! By scaled down, do they mean smaller? Or are they going ot have a project that normal tally citz can afford!?

Link to comment
Share on other sites
TD Burg

TD

Posted
Posted
Thre were alot of Palm added to the college ave strip (potbellies, etc). Pogress in that niche of DT will be awsome. I am getting all excited again like i was back in the begining of 2006! By scaled down, do they mean smaller? Or are they going ot have a project that normal tally citz can afford!?
Link to comment
Share on other sites
Florida Megalopolis

Florida

Posted
  • Author
Posted
There were a lot of Palms added to the college ave strip (potbellies, etc). Progress in that niche of DT will be awesome. I am getting all excited again like i was back in the beginning of 2006! By scaled down, do they mean smaller? Or are they going to have a project that normal tally citz can afford!?
Link to comment
Share on other sites
josefk Whistle-Stop

josefk

Posted
Posted
By scaled down they mean 3 stories tall. :angry: I recently discovered this. The plus is, we get some positive development connecting downtown and FSU. The negative, it's low-rise. Hopefully the detail in the design will make up for what it lacks in height.

At 3 stories, you'd hope we can afford it. Especially if they're talking about striping away the luxuries and building three floors. That really doesn't sound like my idea of expensive.

I'm keeping my eye out for the latest rendering which should be released soon.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.