Author Topic: 50 Unit Apartment Behind Tidbits?  (Read 10703 times)

Steve

  • The Jaxson
  • Hero Member
  • *****
  • Posts: 2433
Re: 50 Unit Apartment Behind Tidbits?
« Reply #30 on: December 15, 2017, 11:58:57 AM »
Why the AVAILABLE sign then?  For commercial tenants of a not yet built structure?

Possibly for the same reason a real estate agent leaves the for sale sign on a house when it’s under contract. Anything can happen.

Captain Zissou

  • Hero Member
  • *****
  • Posts: 3418
Re: 50 Unit Apartment Behind Tidbits?
« Reply #31 on: December 15, 2017, 01:00:59 PM »
Why the AVAILABLE sign then?  For commercial tenants of a not yet built structure?

Don't you claim to be in real estate?  Do you really think a bank is going to give a loan to build a multi-story multi-use structure without prior commitments from tenants/residents?  Why are there sales offices in front of yet to be built buildings?  The bank needs reasonable assurance that the project will be successful before they release the funds to the developer to begin demolition/construction.  That assurance comes in the form of pre-sales, LOIS, etc...

Steve

  • The Jaxson
  • Hero Member
  • *****
  • Posts: 2433
Re: 50 Unit Apartment Behind Tidbits?
« Reply #32 on: December 15, 2017, 01:21:02 PM »
Why the AVAILABLE sign then?  For commercial tenants of a not yet built structure?

Don't you claim to be in real estate?  Do you really think a bank is going to give a loan to build a multi-story multi-use structure without prior commitments from tenants/residents?  Why are there sales offices in front of yet to be built buildings?  The bank needs reasonable assurance that the project will be successful before they release the funds to the developer to begin demolition/construction.  That assurance comes in the form of pre-sales, LOIS, etc...

Well, Apartments start all the time without pre-leasing. For example, a high-rise might take 2 years to build. Pre-leasing something 2 years out is a tall order.

Captain Zissou

  • Hero Member
  • *****
  • Posts: 3418
Re: 50 Unit Apartment Behind Tidbits?
« Reply #33 on: December 15, 2017, 02:38:06 PM »
This is true, but music man was talking about commercial space. 

MusicMan

  • Hero Member
  • *****
  • Posts: 1645
Re: 50 Unit Apartment Behind Tidbits?
« Reply #34 on: December 15, 2017, 03:38:32 PM »
At least these guys own the ground.   And the sign went up recently.  I was imagining something with a graphic of the final build out and a bit more enticing rather than the standard 'Available' sign.

PLUS it's over there adjacent to the old credit union building. Just 1 small sign. Not facing Hendricks Ave.  So from my real estate perspective that does not make much sense. 

Perhaps when cranes get going a serious graphic intensive sign will go up facing Hendricks and stating what will be offered in terms of apartments and commercial. That is what I would expect.
« Last Edit: December 15, 2017, 04:03:12 PM by MusicMan »

acme54321

  • Hero Member
  • *****
  • Posts: 2128
Re: 50 Unit Apartment Behind Tidbits?
« Reply #35 on: December 16, 2017, 12:08:01 AM »
There is a large "Available" sign directly facing the intersection of Hendricks and Nira.

acme54321

  • Hero Member
  • *****
  • Posts: 2128
Re: 50 Unit Apartment Behind Tidbits?
« Reply #36 on: December 16, 2017, 12:09:26 AM »
There is a fairly large "Available" sign directly facing the intersection of Hendricks and Nira in front of the old bank.