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rbdetsport

Vinton Building

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The renovation plans are coming along very well for the Vinton Building, A.K.A 600 Woodward. Robert Porcher is becoming a leader in downtown development. I'm glad to hear that all of the units are already commited too. There is even a family moving in with children. I am hoping some good retail comes out of this development. There will be 10 3,600 square ft units ranging from $500,000 to $1,000,000.

http://www.modeldmedia.com/developmentnews/vinton.aspx

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Wow, I guess there really is some demand for expensive condos downtown!

Porcher has always (atleast since I have been here) done a lot for the city and it's good to see him investing in downtown. It seams like everything so far has been doing well for him and I hope this trend (invest, succeed, repeat) continues.

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That building was in far too good of a location to be brought down. While some of the other buildings were a bit isolated, or surrounded by other vacant buildings, this one is RIGHT in the heart of downtown.

What I find impressive about this development is the size of the units (one per floor) and the prices. It seems like the demand is starting to build for true luxury living.

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Does anyone have a picture of the Vinton? I was downtown today and went just about everywhere and yet I never saw it. Or I probably didn't realize that that was what I was looking at.

WS

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Oops. I walked through the Guardian Building then went directly over to the riverfront completely passing up the Vinton. Then I walked back by way of Bricktown and Greektown, to Broadway, then Capitol Park and then back to the storefronts of Woodward. Never saw it coming and didn't see it leaving either. Thank you though.

WS

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Its amazing what new windows alone can do for a building. Im really excited for this one to finish up. I hope the investors of the Vinton keep hopping from building to building fixing them up.

Nice pics by the way Michi.

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I'm not sure about them hopping from building to building, as a very large chunk of the investors will be living in the building from what I understand. It's a partnership not often seen.

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Very true. But I think if they liked the experience and since they wont be making a ton of profit because they will be living in the building, perhaps that will be motivation to try more projects like this where the profit will be much higher. Perhaps im being a bit too optimistic.

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I'm sure most of these people are using quite a chunk of their own personal fortunes just to redo this one, and I don't think any of them but one or two are actually developers by profession.

What can be hoped for, though, is that there are more people like them willing to invest so much in something they believe in so strongly.

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The Vinton is a beauty! BTW: A lot of developers take their profits from one development and dump it into another project to postpone paying capital gains taxes.

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Again, this is a pool of 10-12 small investors, of which all (I'm pretty sure) will are investing in the building so they can live in it. They aren't developers, per say, accept for two of them, I think.

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