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Split Rock Development Revisited?


GRDadof3

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More apartments downtown would definately pull in more college students too. Plus the more youngsters downtown would boost up the night life downtown. I know several people that want to try living downtown, but can't find decent apartments. Let's face it, there isn't a big selection right now. I bet there a lot of people that will get jobs on medical mile in the next several years that would like to live downtown, but don't want a condo.

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edit: oh, good planning principles and ground-floor transparency too (andy :thumbsup: )

:lol: Thanks Jeff. :thumbsup: With all the colleges right downtown, I think this is a potentially huge market that is largely untapped right now, in getting apartments geared towards college students downtown. I know everyone says the rental market sucks right now, but with all the students that come downtown everyday for class, there must be some potential here.

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There must be potential. But, due to a free market system if there was a market wouldn't there be atleast some development to supply this market? If the rental market "sucks" as of now how can we expect developers to take a leap into downtown? I guess I can say that a leap would be huge, its more like a stumbling walk...

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The general rental market may be in a slump, but as long as there are colleges downtown there will be students and those students are renting somewhere. I bet they would live closer to downtown if the option was available.
I heard that the downtown GVSU dorms aren't even full. The Secchia Hall and Winter Hall buildings usually have room available for students- why do you think these would not be taken? Maybe they would rather live off campus.
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The downtown GVSU residences wouldn't be full because they are too expensive for most students and there are only certain programs located downtown. Engineering, public administration, education, and maybe criminal justice are the only programs I can think of having most classes at the Pew campus. Basically there are much cheaper options for housing plus quite a few commuters using the downtown campus.

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I heard that the downtown GVSU dorms aren't even full. The Secchia Hall and Winter Hall buildings usually have room available for students- why do you think these would not be taken? Maybe they would rather live off campus.

They may be more expensive than splitting rent with roommates in a house near downtown. :dontknow: I've noticed in Chicago right now that it APPEARS that about a quarter of the high-rises being built are apartments, and the rest are condos or hotel/condos (I don't have the facts to back that up). Moch seems to be onto something with the rentals he is doing on Grandville/Williams and talk of Icon II being apartments. They can always be converted to condos at some point in the future if market dictates.

As far as Jack's project goes though, 80 units is not a great deal, and they would have a pretty good view of the river and looking South to downtown.

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They may be more expensive than splitting rent with roommates in a house near downtown. :dontknow:

You're correct, they are very expensive for what you get as far as size and feel compared to other locations downtown. From GVSU's website, Sechia goes for $3052/semester, or roughly $875 a month for a 493 sq. ft. apartment. And they aren't that nice inside compared to Boardwalk or American Seating (HUGE GVSU population here). I paid $275 a month less at American seating for a much bigger place.

Winter Hall is much smaller than Sechia.

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I thought that too, but it seems to be the more I learn about this business, the more I hear how complicated development is becoming, especially in urban areas. It sounds like "creative" deals like this are common practice in the Chicago area.

It's funny Dad, but the more I hear about the complexity of these types of deals (from both sides of the table) the more I've felt like you need to work to simplify them not complicate them. Ultimately, more entities to rely on result in more opportunities for disappointment. I'm only paraphrasing P.Diddy of course.

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You're correct, they are very expensive for what you get as far as size and feel compared to other locations downtown. From GVSU's website, Sechia goes for $3052/semester, or roughly $875 a month for a 493 sq. ft. apartment. And they aren't that nice inside compared to Boardwalk or American Seating (HUGE GVSU population here). I paid $275 a month less at American seating for a much bigger place.

Yes but I think that the semester-long bill includes heat, electricity, water, T-1 internet, cable TV, furniture and appliances. I agree that its cheaper many other off-campus places, but when you factor in the other expenses its probably not as outrageous as one might think, especially when people are getting $300-a-month heating bills.

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Yes but I think that the semester-long bill includes heat, electricity, water, T-1 internet, cable TV, furniture and appliances. I agree that its cheaper many other off-campus places, but when you factor in the other expenses its probably not as outrageous as one might think, especially when people are getting $300-a-month heating bills.

For $610 I got T1 and extended cable at AS. My electric (which blew the heat/AC in, heat/AC was included) never was over $40.. Most apartments include all appliances (i've never rented one that didn't), I'm 90% sure GVSU doesn't include any furniture in those places either. As you can see many places are still a ways under what GVSU expects

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Yes!!! We need THOUSANDS more condos, apartments, lofts, etc. of all different price ranges in North Monroe and the rest of downtown. Definitely not all at once (and the banks won't finance them all at once anyway). Like Prankster said, let free markets, creative ingenuity and entrepreneurial spirit rule the housing market downtown

edit: oh, good planning principles and ground-floor transparency too (andy :thumbsup: )

Thank you, Dad. Say the " . . . . We need THOUSANDS more condos, apartments, lofts, etc. of all different price ranges in North Monroe and the rest of downtown . . . . " part several more times for the urbanly challenged out there. -_-

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It's funny Dad, but the more I hear about the complexity of these types of deals (from both sides of the table) the more I've felt like you need to work to simplify them not complicate them. Ultimately, more entities to rely on result in more opportunities for disappointment. I'm only paraphrasing P.Diddy of course.

You're right, it's like a giant game of Jenga sometimes. It's not quite as prevalent here yet, but with available real estate shrinking downtown, prices skyrocketing, multiple layers of tax incentives, air rights, etc.. it does seem to be getting more complicated. I don't work at THAT level, but it seems to be what I am hearing. And the more pieces of the puzzle that have to fit together to make a deal work, the greater chances for failure.

Speaking of creative planning, I had a dream the other night that Wells Fargo bought out Fifth Third, planned to move into a new tower at Lyon & Ottawa, and that some NY Company bought the old Fifth Third building on Lyon, the short squat one on the corner, and planned to replace both buildings and their lot with a new hotel/condo/office multi-tower complex. It was just a dream, wasn't it... :(

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There's a rendering in tomorrow's GRBJ of this project. Wow, it's huge! Here's a peek:

I like the roof on the GR Spring plant that is reminiscent of an OLD factory :thumbsup:

Ok, what am I missing here? When I asked Jack in another thread about why he didn't use a local architect the stated reason was that he wanted to find something Richard Meier.

Richard Meier wouldn't do anything like this. In fact the tower looks like something you'd see in Atlantic City.

Huge Bummer..........

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There's a rendering in tomorrow's GRBJ of this project. Wow, it's huge! Here's a peek:
Overall I like the design; I'm sure it would go through many changes even if it were to be passed. I wonder what would be in the tower- condos or offices.
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The tower has to be the 80 condos he's talking about, and the roof of GR Spring looks like skylights on an old factory (which I think is cool):

0312_braat_02.jpg

You guys are right. Hopefully (if this ever gets built) they drop the angled lines everywhere. Straight and simple :thumbsup: Although, I'd take it as is :P

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