Nord Haus - 315 1st Ave NE (208' - 20 Stories)

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Silophant
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Silophant » April 19th, 2018, 3:38 pm

That is disappointing, both the reduction of density and the boxing in of the auto shop. I had been fairly optimistic that that that would get bought out for the third tower, but now there's no particular reason that it won't stay a low-density auto use in an increasingly dense and pedestrian oriented district for the foreseeable future.

EOst
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby EOst » April 19th, 2018, 4:39 pm

Would the remnant auto shop lot be big enough to fit another 5 over 1 if/when they're ready to sell?

mamundsen
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby mamundsen » April 19th, 2018, 6:35 pm

What the? Remind those of us with short memories. What were phase 2 and 3 supposed to be? Tall and taller?

Silophant
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Silophant » April 19th, 2018, 8:42 pm

The original proposal for Phase 2 was a 26-story tower. I don't believe we ever saw anything about Phase 3.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby go4guy » April 19th, 2018, 9:01 pm

I may be in the minority, but I actually like this proposal.

And could Phase 3 still go where the auto shop is? Seems to be the perfect size for a tower at the corner, which i think would be a better spot. A tower right next to the existing tower always felt a little awkward to me, but that is just me.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby seanrichardryan » April 19th, 2018, 9:16 pm

...and hilariously leaving auto shop intact.
This is not a bad thing.
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MattW
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby MattW » April 20th, 2018, 9:17 am

Let's be real here. Had we not seen a teaser photo for another 26 story tower, we'd be peeing our pants over this development.

Regarding the auto shop, I'm sure they were offered a pretty lump of cash, but were just not in the market to sell. Fair on them.

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Anondson
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Anondson » April 20th, 2018, 9:33 am

I’m assuming the auto business is doing decent business where they are. How many locations nearby are even available to relocate for them if they took the payout? How do denser European cities handle these kinds of necessary businesses? They can’t all be relegated to their versions of suburbs or industrial districts?

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby amiller92 » April 20th, 2018, 9:51 am

Sometimes that type of business is built into the mixed use building.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby lordmoke » April 20th, 2018, 10:38 am

...and hilariously leaving auto shop intact.
This is not a bad thing.
I actually don't think it's a bad thing! The way the development interacts with the auto shop reminds me of this house: https://eatballard.com/edith-macefield- ... n-ballard/

And it'll allow a smaller future development at some point (hopefully) that will break up the streetscape better, even if it means the auto shop sticks around for a while longer.

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Anondson
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Anondson » April 23rd, 2018, 7:05 pm

The reason for the revision? Construction costs.

https://finance-commerce.com/2018/04/wh ... olis-plan/

mamundsen
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby mamundsen » April 23rd, 2018, 7:55 pm

Tidbit in the article. Phase 1 is only 37.5% leased! (175 vacancies). I wonder how this neighborhood is going to cope with phase 2, and the USBank site, and eventually the condo tower. That's a big increase!

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Silophant » April 23rd, 2018, 8:24 pm

The tower just opened this month, so that's right on track, I believe.

go4guy
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby go4guy » April 23rd, 2018, 9:13 pm

I also heard than many of the units are not even completed yet. And with their proposal adding more units, they must be happy with the demand.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby SurlyLHT » April 24th, 2018, 9:25 am

May the rise in construction costs signify that we're peaking within the current building boom? I strongly suspect this also has to do with the disappointing Gateway proposal.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby HiawathaGuy » April 24th, 2018, 9:30 am

May the rise in construction costs signify that we're peaking within the current building boom? I strongly suspect this also has to do with the disappointing Gateway proposal.
Not to go off-topic - but Minneapolis has one of the lowest (if not the lowest) apartment vacancy rates in the entire US. If demand continues, building will continue (look at any other large city!). And as for Gateway, I think your hypothesis is a bit off - that proposal, as has been discussed many times, is for the same height that it was always planned to be. Penciling out the numbers for that block are far more difficult for a multitude of reasons vs. most anywhere else around town. So I don't know that your disappointment with that proposal necessarily reflects right construction costs. Just my 2 cents.

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Nathan
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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Nathan » April 24th, 2018, 9:34 am

I'd imagine construction costs have gone up because of material and labor scarcity in a booming construction market.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby MNdible » April 24th, 2018, 9:46 am

People are also currently freaking out about the tariffs, and there are on-going and long term problems with the labor supply in the construction trades.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby TroyGBiv » April 24th, 2018, 10:49 am

My brother in-law works in the steel industry - he buys and sells to large manufacturers like Carrier in Indiana... he said that Trumps whole tariff stunt has created chaos. It's made it so volatile. It was so fragile before and this has been terrible. Such a bummer right now because the market demand is so high.

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Re: Nord Haus - 315 1st Ave NE (208' - 20 Stories)

Postby Bob Stinson's Ghost » April 24th, 2018, 11:36 am

May the rise in construction costs signify that we're peaking within the current building boom? I strongly suspect this also has to do with the disappointing Gateway proposal.
It would support the notion that the high water mark for the current wave of cheap easy money has been established and that we're moving toward a stagflation phase. I'll admit I'm not a professional and I just study this stuff as a hobby, but when you combine ballooning federal debt with an isolationist trade policy, I don't see any way to get a different result.


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