Comments on: New Townhomes Proposed for Old Rink Site http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/ Real Estate and Area Information for South Bend, Mishawaka, Granger and Notre Dame, Indiana Wed, 01 Feb 2012 07:56:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Steve Mihaljevic http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24802 Steve Mihaljevic Mon, 10 May 2010 21:08:48 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24802 Guys the key to downtown South Bends rebirth is "high quality" market rates apartmnts.. NOT condos.. Apartments.. I completed my $275,000 of 117 Franklin place last fall and I have had 6 units occupied by Notre Dame Graudate Students, one assitant professor and one Engineer who is working ont he Ignition Park development. and I have just had my first two openings in over a year due to Graduation of two of my MBA students which I have quickly rented out to pending ND Graduate students coming in this fall. We are planning 4 projects of this style some are smaller like this one some are huge and will take some work with the city to get done, but this is the way to go.. ND IUSB and bethel students will live downtown but we need to privde for the 'high quality" rentals not the relative garbage thats out there now.. Check out some of my before and after pictures of our project. We even put in a hot tub.. Before http://www.facebook.com/album.php?aid=2016104&id=1114800145&l=7f7f036864 After http://www.facebook.com/album.php?aid=2017922&id=1114800145&l=ec1b9b7cc0 Guys the key to downtown South Bends rebirth is “high quality” market rates apartmnts.. NOT condos.. Apartments.. I completed my $275,000 of 117 Franklin place last fall and I have had 6 units occupied by Notre Dame Graudate Students, one assitant professor and one Engineer who is working ont he Ignition Park development. and I have just had my first two openings in over a year due to Graduation of two of my MBA students which I have quickly rented out to pending ND Graduate students coming in this fall.

We are planning 4 projects of this style some are smaller like this one some are huge and will take some work with the city to get done, but this is the way to go..

ND IUSB and bethel students will live downtown but we need to privde for the ‘high quality” rentals not the relative garbage thats out there now..

Check out some of my before and after pictures of our project. We even put in a hot tub..
Before
http://www.facebook.com/album.php?aid=2016104&id=1114800145&l=7f7f036864

After
http://www.facebook.com/album.php?aid=2017922&id=1114800145&l=ec1b9b7cc0

]]> By: npmolnar http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24719 npmolnar Wed, 03 Mar 2010 04:48:29 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24719 I just posted the February sales report. It appears it is still slow going for builders and seller of Notre Dame condos and townhomes. The overall numbers are a bit better than last month and last year though. I just posted the February sales report.
It appears it is still slow going for builders and seller of Notre Dame condos and townhomes.
The overall numbers are a bit better than last month and last year though.

]]> By: Irish Eyes http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24718 Irish Eyes Wed, 03 Mar 2010 02:01:50 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24718 How are the February numbers looking? New home sales? ND area condos/townhomes/homes? Somehow, they will probably be a tad worse than I expected...unfortunately for the area. How are the February numbers looking? New home sales? ND area condos/townhomes/homes? Somehow, they will probably be a tad worse than I expected…unfortunately for the area.

]]> By: ST http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24708 ST Thu, 25 Feb 2010 21:51:52 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24708 $170k seems like the right price point to start at. Its hard to say what the market really is since we haven't seen this type of housing in down town along the river. This is a good start that hopefully can grow to larger developments and increased values. Residents want services, but we are not an urban city. For the most part, everyone has cars and every drives to work, drives to shopping and drives to dine. If the residents (with income) come, the retailers will follow. For now, we need local operaters to continue to invest in down town and to do an exception job at what they do. Eddy St, great project and the entire community will benefit if it succeeds. Investors need to make a return and ESC needs to prove it is possible in this area. It is very common for cities to have different areas or districts, i.e. college town, down town, burbs or Chinatown, we just have to be good at all parts. $170k seems like the right price point to start at. Its hard to say what the market really is since we haven’t seen this type of housing in down town along the river. This is a good start that hopefully can grow to larger developments and increased values. Residents want services, but we are not an urban city. For the most part, everyone has cars and every drives to work, drives to shopping and drives to dine. If the residents (with income) come, the retailers will follow. For now, we need local operaters to continue to invest in down town and to do an exception job at what they do.
Eddy St, great project and the entire community will benefit if it succeeds. Investors need to make a return and ESC needs to prove it is possible in this area. It is very common for cities to have different areas or districts, i.e. college town, down town, burbs or Chinatown, we just have to be good at all parts.

]]> By: npmolnar http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24707 npmolnar Thu, 25 Feb 2010 14:38:55 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24707 Nothing yet. Nothing yet.

]]> By: Outside the Box http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24702 Outside the Box Thu, 25 Feb 2010 02:11:40 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24702 Nick - Do you have any sketches of what the exterior will look like? This should be a success at roughly $100 per sqft for a base price. Nick – Do you have any sketches of what the exterior will look like? This should be a success at roughly $100 per sqft for a base price.

]]> By: Irish Eyes http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24694 Irish Eyes Sun, 21 Feb 2010 23:49:01 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24694 npmolnar - If I understood the goals of ESC, it was to also attract locals including from other colleges - IUSB, SMC, HCC, etc. - at least that was part of the marketing information. The problem is only ND students can readily walk to ESC and for them it is still a hike. More likely, off campus students will patronize the stores, especially those that live there. From experience, most businesses can not survive on just ND students as customers...they MUST have year round customers which would include locals. I like the layout of ESC and how it relates to campus, I'm just not fond of the density and disney-esque "fakeness" of it all...too much concrete and odd scale as a stand alone. Time will tell. npmolnar – If I understood the goals of ESC, it was to also attract locals including from other colleges – IUSB, SMC, HCC, etc. – at least that was part of the marketing information. The problem is only ND students can readily walk to ESC and for them it is still a hike. More likely, off campus students will patronize the stores, especially those that live there. From experience, most businesses can not survive on just ND students as customers…they MUST have year round customers which would include locals. I like the layout of ESC and how it relates to campus, I’m just not fond of the density and disney-esque “fakeness” of it all…too much concrete and odd scale as a stand alone. Time will tell.

]]> By: npmolnar http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24692 npmolnar Sun, 21 Feb 2010 15:30:17 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24692 You're probably right that Eddy Commons dimmed the prospects for pulling Notre Dame students and fans into the downtown area. But it doesn't seem to be drawing much business from the surrounding neighborhoods - at least based on my casual observations of out of state license plates in front of the stores and conversations asking people who live nearby if they shop or eat there. I suspect the public sector resources are divided - the city of South Bend probably can't build two expensive parking garages in quick succession. But a concept like the East Bank Village may compete more directly with the Grape/Main corridor and University Park Mall / Heritage Square / Toscana Park area than with Eddy Commons - not for public investment but for nearby residents and as a shopping/dining destination. You’re probably right that Eddy Commons dimmed the prospects for pulling Notre Dame students and fans into the downtown area. But it doesn’t seem to be drawing much business from the surrounding neighborhoods – at least based on my casual observations of out of state license plates in front of the stores and conversations asking people who live nearby if they shop or eat there.

I suspect the public sector resources are divided – the city of South Bend probably can’t build two expensive parking garages in quick succession. But a concept like the East Bank Village may compete more directly with the Grape/Main corridor and University Park Mall / Heritage Square / Toscana Park area than with Eddy Commons – not for public investment but for nearby residents and as a shopping/dining destination.

]]> By: Irish Eyes http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24691 Irish Eyes Sun, 21 Feb 2010 15:11:38 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24691 npmolnar - Thanks for the comments. I do think however that it is closer to a zero sum game at this point in time. There is only so much retail that Michiana can support. Perhaps a few people at the margin will stay in the area after a football game for dinner if there are additional nice options, but my last experience was that there weren't any wait times after the games at even some of my old favorites. We've just been through one of the biggest (over decades) expansions of credit in human history that has shifted down abruptly. Consumer credit is in a sustained pull back (per Meredith Whitney, $2T (that's Trillion) in consumer credit pull back through 2011) and empty retail space is almost an epidemic, or at least historic, on a national scale. I like the mixed use concepts, but "live, work, play" is a difficult pitch in an environment of consumer credit contraction and continued flight from the city limits. It's a start, and I hope one that catches on and reverses the continued move to Granger and the other areas. I am skeptical of ESC overall and its relation to the rest of the area, particularly downtown South Bend. The EBV plan is a positive step for South Bend. npmolnar – Thanks for the comments. I do think however that it is closer to a zero sum game at this point in time. There is only so much retail that Michiana can support. Perhaps a few people at the margin will stay in the area after a football game for dinner if there are additional nice options, but my last experience was that there weren’t any wait times after the games at even some of my old favorites. We’ve just been through one of the biggest (over decades) expansions of credit in human history that has shifted down abruptly. Consumer credit is in a sustained pull back (per Meredith Whitney, $2T (that’s Trillion) in consumer credit pull back through 2011) and empty retail space is almost an epidemic, or at least historic, on a national scale. I like the mixed use concepts, but “live, work, play” is a difficult pitch in an environment of consumer credit contraction and continued flight from the city limits. It’s a start, and I hope one that catches on and reverses the continued move to Granger and the other areas. I am skeptical of ESC overall and its relation to the rest of the area, particularly downtown South Bend. The EBV plan is a positive step for South Bend.

]]> By: K http://www.realst8.com/condos/new-townhomes-proposed-for-old-rink-site/comment-page-1/#comment-24689 K Sun, 21 Feb 2010 07:27:14 +0000 http://www.realst8.crankpin.com/?p=1078#comment-24689 I think the site of the old St. Joe Hospital could be utilized MUCH MORE EFFECTIVELY than the site for a new St, Joseph High School. This is PRIME REAL ESTATE! This would be the perfect site for a downtown Martin's, plus many other stores. I am against the high school model. If developed correctly, the Marian Hill apartments (vacant for several years) could turn into AWESOME condos with some foresight and innovation. (preferrably with balconies.) Not to mention the remainder of the property. which could have AFFORDABLE downtown condos ( 3-4 bed, 1.5-2 bath condos in it place on a crawl-space., I would consider living there myself! I grew up in NYC,a and have only owned condos or apartments until I moved here. It is more overwhelming than I though (*owning a traditional home) in terms of maintenance. (although I LOVE the southside!) The evil side of me hopes that St. Joe High doesn't raise the funds to build a new high school at this site. I think the site of the old St. Joe Hospital could be utilized MUCH MORE EFFECTIVELY than the site for a new St, Joseph High School. This is PRIME REAL ESTATE! This would be the perfect site for a downtown Martin’s, plus many other stores. I am against the high school model. If developed correctly, the Marian Hill apartments (vacant for several years) could turn into AWESOME condos with some foresight and innovation. (preferrably with balconies.) Not to mention the remainder of the property. which could have AFFORDABLE downtown condos ( 3-4 bed, 1.5-2 bath condos in it place on a crawl-space., I would consider living there myself! I grew up in NYC,a and have only owned condos or apartments until I moved here. It is more overwhelming than I though (*owning a traditional home) in terms of maintenance. (although I LOVE the southside!) The evil side of me hopes that St. Joe High doesn’t raise the funds to build a new high school at this site.

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