LPM Apartments - (376' - 36 Stories)

[l12]

They are an order of magnitude better than Vikings people.

Perhaps but Vikings are, what, 6 days per year in the winter? Vs Twins takeover North Loop practically every temperate day of the year. Granted they no doubt are a prime reason for the restaurant boom there though, so it's a trade off.

[Chava]

Take over? Are you all referring specifically to the stretch on 5th St between 1st ave and 6th? The few blocks around there are about the only places that get really really packed before and after Twins games. Venture a few blocks toward Washington and you may forget there is a game.

[seanrichardryan]

lpm?

[mattaudio]

Venture a few blocks toward Washington and you may forget there is a game.

Truth. I met up with some folks for brunch at Smack Shack earlier this summer, easily found on-street parking, and walked a half block to the restaurant. It wasn't until I walked past the bar on my way out and saw the game on TV that I realized there was a home game in the stadium 4 blocks away.

[Minneboy]

lol LPM stadium news.

[Chava]

I reckon LPM will be fan free.

[Minneapolisite]

Speaking of Lund's, I did a grocery run yesterday with two bags and my messenger bag. Scented cat litter is the shit. That is all.

[TroyGBiv]

If people are moving in - when are they going to finish the top of the tower? Isn't that green band around the top insulation or something?

[Nathan]

they've almost completely finished the north side, I'd guess the south side is next. can't imagine it's muchfun doing all that in the window wwashing equipment.

[Nick]

They're now offering a free month plus a $500 signing bonus, per an email I got.

[IllogicalJake]

They're now offering a free month plus a $500 signing bonus, per an email I got.

I wondered if that would happen. I understand the views are premium, but the apartment interiors were a downgrade to my cheaper unit at Soo Line. Their regular rates are crazy.

[John]

Nic on Fifth is their biggest competitor and I'm sure they want to lease as much as possible before they open. It will be interesting to see if they offer financial incentives similar to LPM when they open. Plus there are so many options out there of similar quality units that are somewhat cheaper. We may be seeing the first signs of a glut.

[MNdible]

We've been through this before, but offering incentives to quickly lease up a new building isn't a sign of desperation -- it's a completely logical financial thing to do. You want to go from empty to full as quickly as possible. It goes without saying, but you're much better off giving away a free month than you are having a unit sit empty for three months.

The only time you have to fill all of the units at once is when you open a new building.

[John]

^^^No, I don't think they're completely desperate, but maybe a little nervous. They have a lot of units to fill. There's a ton of high end rentals on the market with much more coming soon. They have lots of competition.

[Wedgeguy]

We've been through this before, but offering incentives to quickly lease up a new building isn't a sign of desperation -- it's a completely logical financial thing to do. You want to go from empty to full as quickly as possible. It goes without saying, but you're much better off giving away a free month than you are having a unit sit empty for three months.

The only time you have to fill all of the units at once is when you open a new building.

I'll have to agree with you on all counts. It is better to give up one months rent free than to collect no rent for 2 to 6 months when other possible places could be opening later and taking your potential tenant off the market for a year in another building.
Either way you are still losing that one months rent, but are collecting it in the following months where it otherwise might still be stilling empty and not getting you any ka-ching if you wait for the market to fill it up.

[Nick]

Looking out m'window, it would appear that most units in the bottom half of the building are leased. Unless they're keeping lights on in empty units to throw off wild speculation from Internet message board posters.

[grant1simons2]

I was driving to a friends the other night so I only saw the skinny side of LPM and it looks really really cool from 394 with the lights on.

[TommyT]

Drove by on the way home tonight and was surprised to see how dull the lit glass was. Seems like it should be a little more prominent.

[uptowncarag]

I am hoping this is not done. If the top is not lit at night it will be a big disappointment.

[grant1simons2]

They still haven't finished the lobby so no, it's not.