Triad Tower

[coastalmindset]

DaAchiever

I'm not holding my breath, but that's just me. This isn't a matter of Greensboro not being able to build a highrise and people criticizing it, it's a matter of the likelihood of people buying a condo in an area that has almost zero quality of life and is surrounded by parking lots. Unless they have a tenant in mind for the office space, this is really nothing but a dream.

While normally I would agree with this point I think there are some other factors at play with this project. Depending on the final pricing for the residential side of things I think you will see quite a few corporate buyers taking possession of these things. It is a solid investment for people who come into town for short periods of time to work, such as furniture market or corporate acquisitions teams. These people aren't too interested in quality of life activities since they typically work 14 + hour days and have little time for other activities. The highway 68 area between wendover and I-40 is beginning to fill in with restaurants and if more residential and office filters into this area there will be a need for things to continue to grow. The lunch time traffic from the existing offices should be able to drive almost any restaurant to the area. If you go to the restaurants on Highway 68 between the Palladium and I-40 I think you will find most of the lunch traffic is driven by office workers from Piedmont Centre to the office park at Centre Point Drive and as far away as the airport.

Also in respect to this zero quality of life theory don't forget there is a Priscilla's Superstore right down the road from this project. Too me nothing says quality of life like an adult superstore. HA!

[krazeeboi]

While normally I would agree with this point I think there are some other factors at play with this project. Depending on the final pricing for the residential side of things I think you will see quite a few corporate buyers taking possession of these things. It is a solid investment for people who come into town for short periods of time to work, such as furniture market or corporate acquisitions teams.

[cityboi]

That's a fair point. Surely I don't see suburban condos appealing to the average blue collar worker employed in the area in the least.

[krazeeboi]

The "condo life" is much less about the actual living space (although no yardwork is a plus) than it is about the amenities that condos in urban settings afford such young workers. What type of amenities are in walking distance of this proposed tower? Where's the nightlife? The retail? The restaurants? Central gathering places? Where's the sheer urban energy and vitality?

[cityboi]

The "condo life" is much less about the actual living space (although no yardwork is a plus) than it is about the amenities that condos in urban settings afford such young workers. What type of amenities are in walking distance of this proposed tower? Where's the nightlife? The retail? The restaurants? Central gathering places? Where's the sheer urban energy and vitality?

[krazeeboi]

Everything being in one building is the absolute ANTITHESIS of urbanity. I mean, seriously, what's the appeal in that? Never having to go outside and experience all that makes a built environment authentic? Furthermore, everything can't be in a building. Can you put a park in this building?

If I'm a young professional working in either downtown Greensboro or downtown Winston-Salem, what would be the draw for me to make me choose a condo in Triad Tower as opposed to one in or close to the downtown in the city where I work? C'mon cityboi, I know you're Greensboro's biggest cheerleader, but I honestly don't see how you can't have one ounce of criticism for this building.

[cityboi]

Everything being in one building is the absolutely ANTITHESIS of urbanity. I mean, seriously, what's the appeal in that? Never having to go outside and experience all that makes a built environment authentic? Furthermore, everything can't be in a building. Can you put a park in this building?

If I'm a young professional working in either downtown Greensboro or downtown Winston-Salem, what would be the draw for me to make me choose a condo in Triad Tower as opposed to one in or close to the downtown in the city where I work? C'mon cityboi, I know you're Greensboro's biggest cheerleader, but I honestly don't see how you can't have one ounce of criticism for this building.

[krazeeboi]

I'm not arguing that every young professional that works downtown wants to live downtown, but what is the appeal of living in a cloistered, suburban condo tower when there are other options (e.g., actually living in the city where you work, in either an urban or suburban location)? Just for the sake of saying, "Hey, I live in a condo"? As I said earlier, the condo experience, particularly for young professionals, is typically more about actually living in an urban environment and not the living space itself. Unless my job requires that I do business in both downtown Greensboro and downtown Winston-Salem on at least a semi-regular basis, I don't see how this tower being equi-distant from both downtowns is exactly a selling point for the average worker. I think the niche for the Triad Tower condos will pretty much be as coastalmindset described. Perhaps if they are more affordable, it may go a bit beyond that. SFR, I would imagine, would still overwhelmingly be preferred considering the suburban location.

[cityboi]

I just dont think that people always chose where they live based on whats in walking distance. I have friends that live in condos that dont have much around. There is always a market for people that have different taste.

[Waughtown]

I just dont think that people always chose where they live based on whats in walking distance. I have friends that live in condos that dont have much around. There is always a market for people that have different taste.

[Creasy336]

Welcome to UrbanPlanet Waughtown, As far as the Triad Tower goes I've been mum on the subject, but I will say NC 68 being an expressway at that location, and 10-12 lane I-40 being nearby doesn't help the Triad Tower much residential wise. Living in the Triad Tower there will be a feeling of isolation there. There is nothing aestheticly pleasing about that area at all, when the Triad tower's residents move in they'll have excellent views of the Tank fields, and PTI. I believe the closest grocer is either in High Point or near Guilford College Rd. Any time you leave the Triad Tower you'll have to go on a long journey to get to anything besides McDonalds and or your job if thats close by.

Atleast they'll be close by the Green 40s, I-40, I-840, I-73/74, the Green 85s, and I-85...If as a resident you consider that a plus. I do buy into the idea of large businesses buying units to accomodate clients, temporary employees, and whoever else. If only the project included something else with it that could start a change in the area and cause it to become more of a community in my humble opinion.

[krazeeboi]

I just dont think that people always chose where they live based on whats in walking distance. I have friends that live in condos that dont have much around. There is always a market for people that have different taste.

[cityboi]

That may be the case, but we're talking about brand-spanking new condos in a midsized sprawling Southern city with an immature condo market where people much prefer single family residential. The number one selling point for condos in such cities tends to be an urban location with nearby amenities, and even with that type of marketing, condos can still be a tough sell. I seriously, seriously doubt that the average worker in the PTI area, blue collar or white collar, will be rushing to purchase a unit in Triad Tower.

[krazeeboi]

I think they will, especially if their jobs are in Triad Tower. Thats a big incentive to actually live in the same building where you work. Thats a huge gas saver. Greensboro doesnt have an immature condo market because condos are built all across the city. Now if they are expensive condos, that another story but if these are affordable condos, I believe Falk will have no problem at all finding tenenats. High-rise living is kinda new to Greensboro and I think that in of itself will attract residential tenants.

[cityboi]

Personally, I think it's a bit creepy to actually be living in the same building where you work, but that's just me.

When I speak of an immature condo market, I'm talking this recent national wave of condo building, particularly in downtowns.

I still don't think there will be much of demand for condos in this building from average area workers, but I guess we'll just have to wait and see.

[krazeeboi]

^Probably the corporate sector more than anything else, as coastalmindset and Creasy336 have mentioned.

[JerseyBoy]

Everything being in one building is the absolutely ANTITHESIS of urbanity. I mean, seriously, what's the appeal in that? Never having to go outside and experience all that makes a built environment authentic? Furthermore, everything can't be in a building. Can you put a park in this building?

If I'm a young professional working in either downtown Greensboro or downtown Winston-Salem, what would be the draw for me to make me choose a condo in Triad Tower as opposed to one in or close to the downtown in the city where I work? C'mon cityboi, I know you're Greensboro's biggest cheerleader, but I honestly don't see how you can't have one ounce of criticism for this building.

[cityboi]

This is exactly what I was trying to get across iin my last post I made. Cityboi, there's only so many times you can do or go to the attractions in your building before it gets boring. Let me ask this question, would you buy a unit in this building knowing you (hypothetically) work at HondaJet or one of the many other employers in the area? I know we all have our different views, but I can't honestly think that you would with your neighbors being Embassy Suites (among all the other stores and hotels) and two highways. Like krazeeboi stated, there is no park, no attractions, and no nightlife at all, unless you drive to it.

[krazeeboi]

Also just because someone is a young professional, that doesnt mean they are looking for condos that are near downtown amenities. like that saying, different strokes for different folks.

[cityboi]

True, but typically the proximity of amenities constitutes the major benefit of buying a condo when you can get more square footage for the same price with a single family home or even a townhome.

[coastalmindset]

So many points to hit here as to why this project has as good of a chance of success as any of the downtown condo projects:

• Some people would rather live closer to work than to the "party". You have to remember that not everyone goes out to the clubs every night or every weekend for that matter. Unfortunately some people work 70 hours+ a week. Glad that is not my typical schedule but it does happen.

• I'd like to know how many of the people in this thread or their friends actually live downtown. I would bet most of the people drive in from the suburbs to hang out downtown, much like the people of Triad Tower would have to do. I know quite a few people who drive in from K'Vegas to go out in downtown Greensboro.

• Remember this Heart of the Triad area is the next big development sector for this area so there will have things to do way out there soon.

• With all the expanding and growing businesses, the Highway 68 corridor will have to continue to grow with restaurants and shops as demand will increase (this would most likely include some local bars, etc), especially as more residential moves into the area. If you haven't been out Sandy Ridge Road in a while I would suggest you go look at all the new home growth in the area between Willard Dairy and Gallimore Dairy Roads.

• While I would tend to agree that most people wouldn't want to look out at a parking lot consider that people bought condos in downtown Greensboro that look out to the Guilford County jail at 411 West and condos that look out to a parking lot, parking deck and bus yard at Governor's Court. So I'd say view is hardly a concern to most of these people.

• Airport and Interstate convenience are important to many people.

• You can be at a Harris Teeter (Hwy 68 & Skeet Club Rd) in about the same time it would take you to get from downtown to the Friendly Center Harris Teeter. Think about the people who drive 15 minutes or more from Forest Oaks to get to a good grocery store. And for that matter you are about the same distance to a movie theater (the Palladium is under 10 minutes).

• The list of restaurants within a ten minute drive of this project are fairly decent (Ruby Tuesday's, Chop House Grill, Aquaria, L'Italiano Ristorante, and US Sushi to name a few of the better ones) Then you have everything from Wendy's to Moe's to Ham's to Buffalo Wild Wings to Penn Station Subs to Ben and Jerry's and just about everything in between.

• I believe you can also get to the Bicentennial Greenway in about 5 minutes if you are looking for a good nature walk or park experience. I've logged many miles on that trail and I think it's one of the better running trails around.

• The Greensboro condo market is actually growing faster that the single family housing market and a big reason is that many people don't want to spend there limited free time doing yard work and the like so I'd say that a project like this will have appeal much in the same way all the downtown condos have appeal to those who want to live downtown.

• As the saying goes location, location, location but location is usually in the eye of the owner. For some the prime location is in the heart of the activity and for others it may be a setting that is closer to work and out of the way while still maintaining an urban feel (there are more employers around the Hwy 68/I-40 corridor than downtown). While I usually disagree with Cityboi's opinions I have to say that he hit it right on with the "different strokes for different folks" comment.

[cityboi]

I agree. I think Triad Tower will prove to be a success when it opens in 2009.

[krazeeboi]

but not everyone is looking for a house with a yard to maintain and having all those amenties nearby usually isnt the primary reason for buying a condo.

[cityboi]

like I said, while amenities may be factors, it doesnt mean they have to be right next door to the condos. like coastalmindset pointed out there are stores, retaurants, and yes even entertainment venues within a 2 to 3 mile radius. I do know there are nightclubs on the west side of Greensboro. People tend to forget that downtown isnt the only place in Greensboro with nightclubs, bars and things of the like. West Wendover ave is a hop and a skip away with a movie theater and other entertainment attractions. Quaker Village is also nearby.

Coastalmidset also pointed out that more entertainment, resturants, and shopping venue development will increase in the HOT area, epecially as more residential such as Triad Tower come to the area. But like I said, The majority of the people considering Triad Tower as their home will be people wanting to be closer to their jobs or want to live more towards to middle of the Triad where they can be in close proximity to the core of Greensboro, Winston-Salem and High Point. Not all young professionals pick condos for nearby entertianment as their primary choice.

[krazeeboi]

But like I said, The majority of the people considering Triad Tower as their home will be people wanting to be closer to their jobs or want to live more towards to middle of the Triad where they can be in close proximity to the core of Greensboro, Winston-Salem and High Point.