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vtfan18

388 Boush Condos

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I didn't want anyone screaming about being off topic so I started a new topic for 388 Boush. I'll post pics that I have from the beginning of construction to present once I have some time. Here are my comments after finally getting moved in.

First of all, the location is great! I love not having to drive everywhere since everything you could imagine is downtown. It'll be especially nice once the Farm Fresh gets complete next door. The units are nice with hardwood floors, granite countertops, tile in the baths and GE appliances. The building is all wood construction, concrete slab floors would have been nice but much more expensive. I was a bit worried about being able to hear neighbors or the folks above but that hasn't been the case. The sound from the street is barely noticable as well, unless you open your window and then it can get loud. Residents are allowed to reserve spots in the Boush St parking garage for a discounted fee. It's nice having covered parking right on your floor. All entrances have access key cards and some have an actual buzzer/intercom system where you can also punch in your own personalized entry code. The interior common area is different and nice from what I was expecting. The common hallways have an outdoor airy feeling with natural light even though it is sheltered from the weather. Almost all residents should be moved in within the next two months and the building complete soon after with finishing touches. It'll be nice once the city landscapes and rebricks the side walk along Boush St. Everyone I've met is really nice and residents range in age from 20s to retired folks. The units are a real steal compared to everything going up now. Its nice to be able to watch Harbor Heights go up as well.

By the way, Mr. Collins' next project, the WaterMark is under construction and will be rental units until the market changes again and will then be sold as condos. I also think he's working on a project in Newport News or Hampton.

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I am expecting lots of walking tours from you now. Of all the inner neighborhoods and side streets through downtown. So get to work.

Oh and congrats on the new move. I remember when all of Boush use to be parking lots and a waste to the city, good to see things changing so much for the better.

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At a meeting of the Downtown Norfolk Council membership this morning, Norfolk Director of Development Rod Woolard said that 388 Boush was 90% sold and people were moving in.

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At a meeting of the Downtown Norfolk Council membership this morning, Norfolk Director of Development Rod Woolard said that 388 Boush was 90% sold and people were moving in.

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The sidewalk along 388 Boush is finally being paved. That section of Boush St will look much better once lanscaping goes in.

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Tons of 388 Bousch Condos up on Craigslist for rent.

Using the investor formula, the rent justifies a $130K to $156k price for the units (100 x rent or 120 x rent).

They don't look like they are moving, $1300/mo for 1 bedroom..

Can't wait to see the Farm Fresh condos open up.

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Tons of 388 Bousch Condos up on Craigslist for rent.

Using the investor formula, the rent justifies a $130K to $156k price for the units (100 x rent or 120 x rent).

They don't look like they are moving, $1300/mo for 1 bedroom..

Can't wait to see the Farm Fresh condos open up.

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Tons of 388 Bousch Condos up on Craigslist for rent.

Using the investor formula, the rent justifies a $130K to $156k price for the units (100 x rent or 120 x rent).

They don't look like they are moving, $1300/mo for 1 bedroom..

Can't wait to see the Farm Fresh condos open up.

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I think tons might be a 'slight' exaggeration, but there are consistently between 1-3 ads everyday for 388 Boush St. Additionally there's a a for sale sign posted to the corner of the building, and they were installing a rather large light up sign on Boush St for holiday sales. Does anyone remember the original pre-construction prices for this project? I'm curious to how they transfer to asking prices for rent.

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Pre-construction prices ranged from 175K for one bedroom to 275K and up for two bedroom. I know of a few units which are rented now and know of a one bedroom which is rented for $1500. Kind of high for a one bedroom but someone is willing to pay it. From an investment standpoint, 388 Boush condos will be fantastic rental units given the price point which people have paid. Harbor Heights will not make sense to rent considering most of the units started selling for around 400K and up. People have to understand that rent prices are not going down in Norfolk and will only continue to rise.

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And for some good news:

388 Boush completed

The effort to spruce up Norfolk's downtown and turn it into a residential and commercial hot spot moved a big step forward recently with the completion of 388 Boush Street, a trendy condominium complex located on a highly visible corner of downtown.

The first residents began moving into the four-story, L-shaped building at the corner of Freemason and Boush streets this fall. All but 14 of the 94 luxury condominiums have been sold.

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I was very impressed by the "Boulevard" look of Boush Street. Nice to hear the condos in this new project are selling so well.

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I didn't realize that it was that many units there.

Looks more like 30 to 40 units if you ask me.

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Around $200, some less and some just a bit more depending on unit size.

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Here are some pics for your enjoyment.

The pic was taken when the garage was almost complete and before construction began. Corner of Freemason and Boush St.

388Boush_garage.jpg

Before

1.jpg

After

388Boush_corner.jpg

Before

2.jpg

After

388Boush_corner2.jpg

Before

388Boush_back.jpg

After

388Boush_back2.jpg

388Boush_street.jpg

Street level

388Boush_street_level.jpg

Interior Lobby

388Boush_lobby.jpg

Interior Walkway

388Boush_walkway.jpg

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