The Eclipse

[ztr421]

I toured a few units at Stonebridge yesterday afternoon, and asked the person in the leasing office about the status of Eclipse. Her quick and confident response was that he's not going to build it. To paraphrase some of the things she said:

it's too big and would take too long to build (he likes to get things built and sold fast); he's getting old (79), winding down, had some recent health issues, and is thinking of retiring (although she doubts he will because he likes to work). She also mentioned a recent article in the StarTrib regarding condo development and the high cost (I can't find it, but think it had to do with the need for a lot of up-front dollars before building could start??? - or maybe it was the parking issue she was talking about - to be honest, she talked a lot and really fast).

Anyway, sort of weird, especially the "too big" comment - maybe he's just slowing down.

[Tyler]

Or maybe she just wants her commission.

[nordeast homer]

I know a lot of people here would be happy if it never saw the light of day. Let's hope he sells the parcel and someone swoops in with some great vision for what this corner needs.

[nickmgray]

I remember touring a lot of condo project back in 2004 when my wife and I were on the market for a place. Sales people never seemed to have anything good to say about competing developments. Quite often they would say that proposed development x would not be built, but they are often wrong.

You'd think they would have decent insider information due to he nature of their jobs, but a sale's person's main concern is selling you a unit so they can make their commission. If that means telling little white lies about other developments, so be it.

[aeisenberg]

Or maybe she just wants her commission.

Huh?

[aeisenberg]

I remember touring a lot of condo project back in 2004 when my wife and I were on the market for a place. Sales people never seemed to have anything good to say about competing developments. Quite often they would say that proposed development x would not be built, but they are often wrong.

You'd think they would have decent insider information due to he nature of their jobs, but a sale's person's main concern is selling you a unit so they can make their commission. If that means telling little white lies about other developments, so be it.

[Didier]

What, exactly, is your objection to the above posts? Both seemed to make pretty clear and fair points, as opposed to "huh?" and " ".

[mnmike]

I believe he is saying they are pretty off base remarks about most real estate agents, and I would agree with him.

It can be a bit of a different situation if the agent is actually "employed" by the developer to work just one project, but still probably not fair statements for most. Myself and Spd both being agents, you see

[Tyler]

I just brought it up as a possibility. Or maybe Stanton told his sales team to focus on selling out Stonebridge and to downplay Eclipse if someone brought it up. Either way I personally wouldn't take what the agent said at face value. If that's sullying the reputation of REALTORS® everywhere so be it.

[go4guy]

Did he even talk to a realtor? Wasn't he talking to someone at the sales office? Someone who would be employed by Stanton? Or is that still a realtor? Im not really sure how that works. Does a realtor get the listing for the whole project?

[ztr421]

Gah - I wrote something and the site crashed during my post...

Yes, she was probably concerned with commission and getting me to buy, but I don't know that they're concerned about Eclipse being a competitor to Stonebridge - Eclipse wouldn't have a move-in ready unit for at least a few years, right? Plus, they're owned by the same company. And, Stonebridge is at about 85% sold and continuing to sell fast - I don't get the impression they're concerned about losing business.

But, yes, maybe she was nefarious and I'm gullible.

[aeisenberg]

What, exactly, is your objection to the above posts? Both seemed to make pretty clear and fair points, as opposed to "huh?" and " ".

Clear and fair points..... OR dismissive lazy stereotypes grounded in antiquated notions about salespeople. God forbid that woman could have a moral conscience, right?

The brain dead willingness to jump to a conclusion that she was lying out of fear he might be tempted to wait 2 years and buy in a different building... owned by the same management... is worthy of an eye roll, yeah.

[John]

I know a lot of people here would be happy if it never saw the light of day. Let's hope he sells the parcel and someone swoops in with some great vision for what this corner needs.

Happy to hear it probably won't happen. This parcel calls for a more architecturally ambitious proposal than just duplicating one of his rather mediocre projects by Gold Medal Park. And I suspect the parking ratio requirements he whined about are less of an issue for most developers experienced in building high density housing in large cities. Hope Stanton sells the property.

[Aville_37]

I know a lot of people here would be happy if it never saw the light of day. Let's hope he sells the parcel and someone swoops in with some great vision for what this corner needs.

Happy to hear it probably won't happen. This parcel calls for a more architecturally ambitious proposal than just duplicating one of his rather mediocre projects by Gold Medal Park. And I suspect the parking ratio requirements he whined about are less of an issue for most developers experienced in building high density housing in large cities. Hope Stanton sells the property.

I agree John. I'd like some type of development with a setback. More restaurant/retail fronting Hennepin Avenue, possible rooftop deck overlooking the hopefully built park across Hennepin.

[Didier]

Clear and fair points..... OR dismissive lazy stereotypes grounded in antiquated notions about salespeople. God forbid that woman could have a moral conscience, right?

The brain dead willingness to jump to a conclusion that she was lying out of fear he might be tempted to wait 2 years and buy in a different building... owned by the same management... is worthy of an eye roll, yeah.

No one was "jumping to a conclusion." ztr421 shared his experience with a leasing agent, and then Tyler and nickmgray posted reasons why the leasing agent MIGHT not be 100 percent reliable. Nobody said she is definitely lying, but your stance is apparently that she is definitely reliable?

Skepticism, especially in a situation like this, is a good thing and is not malicious. We just don't know for sure either way.

[John]

I agree John. I'd like some type of development with a setback. More restaurant/retail fronting Hennepin Avenue, possible rooftop deck overlooking the hopefully built park across Hennepin.

This site is prime property and is the intersection point of so many up and coming districts in an booming downtown. It should be developed accordingly. We're not in a recession anymore.

[nickmgray]

I agree John. I'd like some type of development with a setback. More restaurant/retail fronting Hennepin Avenue, possible rooftop deck overlooking the hopefully built park across Hennepin.

This site is prime property and is the intersection point of so many up and coming districts in an booming downtown. It should be developed accordingly. We're not in a recession anymore.

I think you're right, but I think developers are going to start playing things safe for a while. We have a lot of apartment projects that will open this year which will flood the downtown market with over 1,000 new units. I'd wager that most developers will keep an eye on how fast those buildings fill up before pulling the trigger on something new. The Eclipse is unique because it is proposed as a condo project. it would be interesting to see if something a bit more impressive can go in if something iconic is actually proposed for the Ritz block.

[aeisenberg]

Clear and fair points..... OR dismissive lazy stereotypes grounded in antiquated notions about salespeople. God forbid that woman could have a moral conscience, right?

The brain dead willingness to jump to a conclusion that she was lying out of fear he might be tempted to wait 2 years and buy in a different building... owned by the same management... is worthy of an eye roll, yeah.

No one was "jumping to a conclusion." ztr421 shared his experience with a leasing agent, and then Tyler and nickmgray posted reasons why the leasing agent MIGHT not be 100 percent reliable. Nobody said she is definitely lying, but your stance is apparently that she is definitely reliable?

Skepticism, especially in a situation like this, is a good thing and is not malicious. We just don't know for sure either way.

I rolled my eyes at stupid comments based on lazy stereotypes of salespeople. Let's move on.

[mattaudio]

If I was in a profession that clearly had a public perception problem in certain communities, whether warranted or not, I don't know if I'd ridicule the messenger or roll my eyes... I'd rather fix the perception if it's not grounded in truth.

[aeisenberg]

If I was in a profession that clearly had a public perception problem in certain communities, whether warranted or not, I don't know if I'd ridicule the messenger or roll my eyes... I'd rather fix the perception if it's not grounded in truth.

You have more class and patience than I, sir.