Author Topic: New Downtown Living: Broadstone River House Apartments  (Read 44875 times)

Kerry

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #120 on: April 06, 2019, 09:47:40 AM »
Residential is needed but honestly, it will take decades for DT to have a population base to self support an urban retail and dining district. You speed things up with clustering complementing uses that attract outside spending power....hotels, cultural/entertainment venues, programming of special events, forcing exposure to through traffic (auto and transit), etc. Do that and you'll get yourself a "WPB Clematis" or "Greenville Main" that your unborn grandkids won't have to push you in your wheelchair to enjoy.

But what will "WPB Clematis" and "Greenville Main" look like in 20 years?  Those place aren't just standing still.  Not only did they get a huge head start but they are still increasing in speed.  I seriously feel like the time for Jacksonville has already come and gone.  We are so late to the urbanization party we'll probably never catch up.  I'm reminded of the Simpsons episode where Bart falls behind in class and is sent to remedial school.  He can't figure out if they are already behind how are they going to catch up by going slower.  That sums up Jacksonville perfectly.

Just picture the Jacksonville City Council sitting around the group table in the Leg Up program.
https://www.youtube.com/watch?v=5wguuKpRJRE
« Last Edit: April 06, 2019, 09:49:18 AM by Kerry »
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thelakelander

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #121 on: April 06, 2019, 12:30:44 PM »
I wouldn't worry about catching up. Just freaking give residents something they can enjoy sooner rather than later.
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vicupstate

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #122 on: April 07, 2019, 11:59:14 AM »
I think the housing slow down might be more sever than is being reported.  Even here in my new subdivision since March 1st construction has almost reached a stand-still.  We went a good 3 weeks without a single contractor on-site.  Lennar moved 45 homes (including ours) from a March closing to a Feb 28th closing.  Our mortgage got sold to another lender before I made the first payment.
Oh oh. Another recession, possibly even more major, on the horizon.
I doubt that. The last recession was caused by loose lending, and lots of people who had never before invested in real estate suddenly buying houses in the hopes of flipping them for big profits. I don't see that now.

https://www.washingtonpost.com/business/economy/how-regulators-republicans-and-big-banks-fought-for-a-big-increase-in-lucrative-but-risky-corporate-loans/2019/04/06/08c8cd58-4b1e-11e9-b79a-961983b7e0cd_story.html?noredirect=on&utm_term=.33e5dfd143a3


“Actions by federal regulators and Republicans in Congress over the past two years have paved the way for banks and other financial companies to issue more than $1 trillion in risky corporate loans, sparking fears that Washington and Wall Street are repeating the mistakes made before the financial crisis. The moves undercut policies put in place by banking regulators six years ago that aimed to prevent high-risk lending from once again damaging the economy.”

“Now, regulators and even White House officials are struggling to comprehend the scope and potential dangers of the massive pool of credits, known as leveraged loans, they helped create. Goldman Sachs, Wells Fargo, JP Morgan Chase, Bank of America and other financial companies have originated these loans to hundreds of cash-strapped companies, many of which could be unable to repay if the economy slows or interest rates rise.”
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MusicMan

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #123 on: April 07, 2019, 01:36:40 PM »
From Kerry:

"Looked at all those places and for the prices being asked we found every single property on the market to be substandard."

What was your price point?  How much time are you spending in your car (now) to get to every single thing you need?  Hard to believe not one single home (in those neighborhoods) met your "standards."


Bill Hoff

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #124 on: April 07, 2019, 01:46:09 PM »
Hard to believe not one single home (in those neighborhoods) met your "standards."

He's bad & boujee.

jaxjags

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #125 on: April 07, 2019, 07:01:27 PM »
Not that I support Kerry, but what is the availability of properties in Five Points, Riverside, Avondale, etc. How many properties are for sale for every 100 homes. I live in an older suburban northside neighborhood (The Cape). Their is only 1 home for sale out of 250! That is very low. If it the same or similar in the historic neighborhoods, then it may be true that there is a supply shortage, high demand and high prices for "sub standard homes". MusicMan, do you know? Is supply of good home at a reasonable price available in the historic areas. My guess would be no except for maybe Murray Hill and Springfield.  And those are emerging neighborhoods. Truly just a question based on where I live.

sanmarcomatt

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #126 on: April 07, 2019, 08:22:08 PM »
I think the Kerry House Hunters episode was pretty standard (well, the whole New Urbanist intro was BS but whatever)...unwilling to pay market value for certain locations and ends up sacrificing location for "more house for the money". Just about everyone does that in one form or the other. We certainly did.Well.....we just sacrificed by a couple of streets, not zip codes. :)

My burning question is that if Lennar  met his rigid standards when researching builders, who the hell was rated as substandard? Billy Bob's Crap Shacks!?!?

acme54321

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #127 on: April 07, 2019, 08:22:30 PM »
My mom just bought a house in Avondale.  I've been looking with her and she lost out on two other houses that had multiple offers in the first couple of days.  They both sold for over ask.  Good houses in the historic district are moving fast, really fast.
« Last Edit: April 07, 2019, 09:18:11 PM by acme54321 »

Kerry

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #128 on: April 07, 2019, 08:51:56 PM »
I think the Kerry House Hunters episode was pretty standard (well, the whole New Urbanist intro was BS but whatever)...unwilling to pay market value for certain locations and ends up sacrificing location for "more house for the money". Just about everyone does that in one form or the other. We certainly did.Well.....we just sacrificed by a couple of streets, not zip codes. :)

My burning question is that if Lennar  met his rigid standards when researching builders, who the hell was rated as substandard? Billy Bob's Crap Shacks!?!?

It was Billy Bob's Buy and Flip that thinks some paint and new kitchen cabinets is a remodel.
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MusicMan

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #129 on: April 07, 2019, 09:24:07 PM »
Kerry, JaxJags, Here is some info you'll identify with.

Location Location Location.

You can almost always fix a house, a location not so much.  Inventory and supply are in balance in certain price points in those hot neighborhoods. But the market is crowded IMO at the higher price points ($500,000 to 800,000). I'm seeing nice renovations in all those neighborhoods and they do go fast. You need an experienced home inspector and a good trail of permits and inspections when shopping renovated homes.

Multi family is very tight. For investors looking for less expensive properties there is lots of choices, just be careful of where you buy. Returns are typically higher in the less desirable areas. Lower in the better neighborhoods (you probably knew that).

I have three contracts Pending right now in Avondale, Springfield and Bartram Rd South (Southside).  I have the Buyer in all situations.

Kerry

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #130 on: April 08, 2019, 07:51:03 AM »
MusicMan - I'm aboard with what you are
 saying but I'm not willing to live in or near the urban core at all costs.  I would rather just move to another City that already has what I want.  In fact, I didn't even want a house.  A 3 bedroom apartment would have been fine but those are like bigfoots.  People say they have seen one but when you go look you can't find it.  Finally, prices in Riverside are almost exclusively driven by lack of availability.  The quality of the home plays a very small role.  We looked at several homes north of $500,000 that needed at least another $150,000 (and in some cases way more than that) in additional work.

With prices that Riverside commands I can't figure out why developers don't build that type of product instead of cul de sac filled subdivisions.  Maybe eTown will change that.
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thelakelander

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #131 on: April 08, 2019, 08:35:04 AM »
MusicMan - I'm aboard with what you are saying but I'm not willing to live in or near the urban core at all costs.

Now this I can agree with. You can be the biggest urban core advocate in the world, but depending on what you're looking for, the environment and housing product isn't always worth the personal living expense. 
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

Tacachale

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #132 on: April 08, 2019, 08:46:11 AM »
MusicMan - I'm aboard with what you are
 saying but I'm not willing to live in or near the urban core at all costs.  I would rather just move to another City that already has what I want.  In fact, I didn't even want a house.  A 3 bedroom apartment would have been fine but those are like bigfoots.  People say they have seen one but when you go look you can't find it.  Finally, prices in Riverside are almost exclusively driven by lack of availability.  The quality of the home plays a very small role.  We looked at several homes north of $500,000 that needed at least another $150,000 (and in some cases way more than that) in additional work.

With prices that Riverside commands I can't figure out why developers don't build that type of product instead of cul de sac filled subdivisions.  Maybe eTown will change that.

You're right about apartments (and condos). There just aren't that many in the more desirable urban core neighborhoods, especially with 3 bedrooms. As far as the supply of houses, I don't think that's accurate. I guess it depends on your definition of what additional work is needed. There are houses available in Riverside today that go for less than what you'd pay in either 220 or Mandarin that don't require nearly that amount of work you're saying. I guess it depends on your definition of the work that needs to be done - and of course what you're willing to settle for as far as neighborhoods go.
Do you believe that when the blue jay or another bird sings and the body is trembling, that is a signal that people are coming or something important is about to happen?

sanmarcomatt

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #133 on: April 08, 2019, 10:01:05 AM »
MusicMan - I'm aboard with what you are
 saying but I'm not willing to live in or near the urban core at all costs.  I would rather just move to another City that already has what I want.  In fact, I didn't even want a house.  A 3 bedroom apartment would have been fine but those are like bigfoots.  People say they have seen one but when you go look you can't find it.  Finally, prices in Riverside are almost exclusively driven by lack of availability.  The quality of the home plays a very small role.  We looked at several homes north of $500,000 that needed at least another $150,000 (and in some cases way more than that) in additional work.

With prices that Riverside commands I can't figure out why developers don't build that type of product instead of cul de sac filled subdivisions.  Maybe eTown will change that.

I guess it depends on your definition of the work that needs to be done - and of course what you're willing to settle for as far as neighborhoods go.

I would add square footage to the equation. If people would stop paying for square footage they will never use(well, outside of paying additional
to furnish and heat/cool it) there would be far less of a need for settling on location. And here's an even crazier thought....maybe a little less debt.

bl8jaxnative

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Re: New Downtown Living: Broadstone River House Apartments
« Reply #134 on: April 08, 2019, 10:11:55 AM »
With prices that Riverside commands I can't figure out why developers don't build that type of product instead of cul de sac filled subdivisions.  Maybe eTown will change that.

Riverside is like Silicon Valley.  Everyone always thinks they can reproduce.    No one ever has nor ever will.