Stadium Village
Re: Stadium Village
Or maybe not. According to this (locked) F-C article: "City supports project but asks developer to rethink color, parking".
Joey Senkyr
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Re: Stadium Village
CoW always suggests minor things like this. The project is still very likely to happen. To be honest, the color palette is a little mucky right now.
Re: Stadium Village
I'd argue it's less the colors themselves than the extremely arbitrary and non architecturally beneficial placement of the colors and materials.
Re: Stadium Village
As an update, the library now has this edition of the F-C. To sum up - CoW would prefer not having the green panels, and would like even less parking. The current proposal has 17 (28 required per code). Which is super encouraging!
Also, proposed rents are ~$700 for a 1BR, and ~$1200 for 2BR. For new construction, with an elevator and in-unit W/D. Pretty wild what you can do when you're not spending millions on scores of underground parking stalls.
Also, proposed rents are ~$700 for a 1BR, and ~$1200 for 2BR. For new construction, with an elevator and in-unit W/D. Pretty wild what you can do when you're not spending millions on scores of underground parking stalls.
Joey Senkyr
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- Capella Tower
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Re: Stadium Village
This will be interesting to watch. At those rents, total annual income is just over $450k. The F-C article said the project costs $7m, and I'm not sure if that includes the stated $1.4m known site acquisition (which doesn't include one of the 5 lots). Simple payback on $7m is over 15 years. That doesn't include financing interest, operating costs, upkeep, property taxes, or profit.
Maybe someone with a bit more experience in how these projects are financed can chime in. I'm hopeful the projected rents happen, because this could be a good case study for how to build new, market rate units affordable to 50-60% of AMI.
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Maybe someone with a bit more experience in how these projects are financed can chime in. I'm hopeful the projected rents happen, because this could be a good case study for how to build new, market rate units affordable to 50-60% of AMI.
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- US Bank Plaza
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Re: Stadium Village
As mentioned above, parking (building less of it) has major impacts. I think the case study of note is that the developer is asking to build LESS than code requires and that CoW is asking for even less than that!This will be interesting to watch. At those rents, total annual income is just over $450k. The F-C article said the project costs $7m, and I'm not sure if that includes the stated $1.4m known site acquisition (which doesn't include one of the 5 lots). Simple payback on $7m is over 15 years. That doesn't include financing interest, operating costs, upkeep, property taxes, or profit.
Maybe someone with a bit more experience in how these projects are financed can chime in. I'm hopeful the projected rents happen, because this could be a good case study for how to build new, market rate units affordable to 50-60% of AMI.
I would also say that the design is certainly "no frills" which should (in theory) make it more affordable than "l*xury" apartments. Different developer with a different mind-set and pro forma.
Re: Stadium Village
Erie Apartments presented to Prospect Park. Project now includes a separate 12 unit building across the street at 614 and 616 Erie St SE. Basically 2 3-story 6 unit buildings back to back with one facing the street and the other the alley.
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- Rice Park
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Re: Stadium Village
Afro Deli opened its new Stadium Village location, replacing the former Dairy Queen.
http://www.mndaily.com/article/2017/02/afro-deli-opens
http://www.mndaily.com/article/2017/02/afro-deli-opens
- Mooglemuffins
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Re: Stadium Village
Stopped by last weekend, still as delicious as ever!Afro Deli opened its new Stadium Village location, replacing the former Dairy Queen.
http://www.mndaily.com/article/2017/02/afro-deli-opens
- FISHMANPET
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Re: Stadium Village
I'm pretty sure they're piping their kitchen exhaust to the street in a deliberate attempt to lure people inside.
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Re: Stadium Village
Stadium View Apartments student rental building near University of Minnesota fetches $69 million
http://www.startribune.com/towering-stu ... 473984603/
That's $250,000 per unit.
http://www.startribune.com/towering-stu ... 473984603/
That's $250,000 per unit.
Re: Stadium Village
Man, that building just gets better with age.
Re: Stadium Village
It was so much better in its original pomo exterior. Not a great building but now it looks so confused.
Re: Stadium Village
what was the original name? It was built when I was a freshman and was the greatest thing on campus until people moved in and realized how cheap it was built.
Re: Stadium Village
I believe it was the Melrose originally.
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Re: Stadium Village
Melrose Place?
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Re: Stadium Village
I don't think there has ever been any doubt that was the inspiration behind the naming of this property .Melrose Place?
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Re: Stadium Village
"As mentioned above, parking (building less of it) has major impacts."
As I see what taking out parking does to affordability to new developments in the Twin Cities, its becoming more obvious the huge cost of parking and other car-oriented development has placed on building and land rent costs. As we move away from it, affordability may be far less of an issue.
As I see what taking out parking does to affordability to new developments in the Twin Cities, its becoming more obvious the huge cost of parking and other car-oriented development has placed on building and land rent costs. As we move away from it, affordability may be far less of an issue.
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Re: Stadium Village
Small retail buildings on the corner of Huron and Washington have sold for $14.9 million
https://finance-commerce.com/2018/06/u- ... buildings/
https://finance-commerce.com/2018/06/u- ... buildings/
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