  Ernest_adams Member Username: Ernest_adams Post Number: 10 Registered: 02-2007 |
Glad to hear they are starting the leasing process early, so Woodward Avenue will have a full residential building when Studio One Apartments opens next year. http://www.modeldmedia.com/dev elopmentnews/studioone11907.as px | ||
Vas Member Username: Vas Post Number: 851 Registered: 01-2004 |
650 sq feet for $870 a month 1,000 sq feet for $1400 a month No thanks. This isn't New York. (Message edited by vas on November 13, 2007) | ||
Crawford Member Username: Crawford Post Number: 149 Registered: 10-2006 |
Wow, I pay about that much here in Brooklyn, and I don't have to own a car. My brother pays considerably less in downtown Birmingham. IMO those prices are high, especially in this economy. | ||
Rsa Member Username: Rsa Post Number: 1335 Registered: 10-2003 |
new york? try doubling those prices for that size, then you'll be close. | ||
Iheartthed Member Username: Iheartthed Post Number: 2181 Registered: 04-2006 |
You'd be hard pressed to find prices that good in New York. Especially for a new build... | ||
Vas Member Username: Vas Post Number: 852 Registered: 01-2004 |
There's nothing good about those prices in Detroit. | ||
Rb336 Member Username: Rb336 Post Number: 3542 Registered: 02-2007 |
how long have you lived there? my bay ridge apt was reasonable by NY standards, but the same apt goes for twice what i was paying 10 years ago -- and this was a nice neighborhood farrrrr from manhattan | ||
Wpitonya Member Username: Wpitonya Post Number: 50 Registered: 08-2005 |
I'm paying $1600 for a 220 square foot apartment in Chelsea | ||
Vas Member Username: Vas Post Number: 853 Registered: 01-2004 |
Haaaaa! | ||
Crawford Member Username: Crawford Post Number: 150 Registered: 10-2006 |
I pay $950 for a nice studio in Bay Ridge. I used to pay $850 for a $1,700 one bedroom share in the East Village. No offense to Detroit, but I could not imagine paying such prices. Maybe these will be corporate apartments? Owning a car costs (minimum) a couple hundred a month, which has to be added to monthly expenses. Also, while improving, Midtown Detroit is light years in demand from Manhattan (or even Brooklyn/Queens/Bronx/Jersey) | ||
Crawford Member Username: Crawford Post Number: 151 Registered: 10-2006 |
Chelsea is expensive, but that's what you pay to be in fabulous territory. I have a friend at work with an amazing apartment in London Terrace (W 23rd & 9th). Chelsea would be nice... | ||
Focusonthed Member Username: Focusonthed Post Number: 1472 Registered: 02-2006 |
I don't know square footage, but I've seen basement 1BR apartments in Astoria going for well over $1,000 a month. It's expensive if you ask me, but not New York territory. | ||
Genesyxx Member Username: Genesyxx Post Number: 808 Registered: 02-2004 |
Expect those prices to go down considerably once no one shows up for inquiries. | ||
Bobj Member Username: Bobj Post Number: 2771 Registered: 11-2003 |
seems a bit high, even for brand new housing | ||
Mbr Member Username: Mbr Post Number: 256 Registered: 03-2005 |
Considering what a mortgage, insurance, and association fees would be in a new condominium, that's not too bad. | ||
Bobj Member Username: Bobj Post Number: 2775 Registered: 11-2003 |
Any extras that would drive up the price | ||
Charlottepaul Member Username: Charlottepaul Post Number: 2019 Registered: 10-2006 |
"it is the first market-rate new construction rental apartments built in Detroit in 30 years." | ||
Danny Member Username: Danny Post Number: 6795 Registered: 02-2004 |
$1,400 a month. Enough for 4 people with good credit score. | ||
Spiritofdetroit Member Username: Spiritofdetroit Post Number: 707 Registered: 11-2006 |
Wow, that is ridiculous. I have a hard time believing it is the first market-rate new construction rental apartments though. The Ellington is rental, correct? And cheaper. Buy a home instead - especially in today's market | ||
Mbr Member Username: Mbr Post Number: 259 Registered: 03-2005 |
The Ellington is not rental. Some of the units may be for lease from the condo owners, but every unit is for sale. | ||
Supergay Member Username: Supergay Post Number: 109 Registered: 05-2006 |
Well, it IS across the street from MOCAD, next to the Whitney, walking distance to the cultural district, WSU campus and the amenities thereabout (Bureau of Urban Living, Avalon, Twingo's etc). Maybe they will have some cool retail going in on the ground floor that will add to the cool amenities already in the area, and really give these higher-end apartments the appeal they will need to pull in renters in the appropriate income bracket? | ||
Jiminnm Member Username: Jiminnm Post Number: 1510 Registered: 02-2005 |
Isn't that more expensive than the apartments on the river at Harbortown? I think those rent about $1/ft/month. | ||
Cmubryan Member Username: Cmubryan Post Number: 476 Registered: 11-2003 |
I pay $583 for 590 square feet for a 16th floor apartment in a famous piece of modern architecture two blocks from downtown Detroit. | ||
Supergay Member Username: Supergay Post Number: 111 Registered: 05-2006 |
I am not sure the finishes inside Lafayette Towers or Pavilion are really going to be comparable to the finishes in Studio One, which will feature things like granite kitchen countertops, balconies, and central air. Apples to oranges, and trust me, I love those oranges. The media advisory says announcements will be made about the nearly 30,000 square feet of ground floor retail space too. | ||
Supergay Member Username: Supergay Post Number: 112 Registered: 05-2006 |
Oh, does anyone know what the Kales building rates are? Isn't that place usually close to fully-leased? | ||
Spiritofdetroit Member Username: Spiritofdetroit Post Number: 710 Registered: 11-2006 |
Supergay, I believe it is 96% right now. It had been 100% for quite a while. The Kales has been quite the success | ||
Brandonhgt Member Username: Brandonhgt Post Number: 18 Registered: 05-2006 |
We moved out of the Kales last November, we had a 1 bedroom unit facing GCP, something like 580? square feet, it was $895 a month. That price included 1 parking pass under GCP. We broke our lease 2 months early and they found new tenants within a couple of weeks. Demand seems to be quite high for the Kales. | ||
Mackinaw Member Username: Mackinaw Post Number: 3991 Registered: 02-2005 |
Yeah, those prices will come down. I'm eager to see the finished product. I'm hoping the fit and finish with the exterior turns out well, but I don't have high expectations. I like the balconies, I don't like the gimmicky arch-thingy on the center of the roofline. | ||
Mdoyle Member Username: Mdoyle Post Number: 244 Registered: 10-2006 |
its all terribly colored prefab exterior panels. blah. The upside is that previously it was a parking lot and the sits DIRECTLY on the sidewalk, no setback at all. Also looks like some retail space was accommodated in the WSU parking garage which might create a destination on forest. As of now Forest is all just alley entrances and sides of buildings in that area. | ||
Crawford Member Username: Crawford Post Number: 152 Registered: 10-2006 |
It definitely isn't the first rental building in 30 years. I have no idea where they came up with that claim. The first two Riverfront Towers were built in the mid-80's and the third was built in '94 or thereabouts. | ||
Zephyrprocess Member Username: Zephyrprocess Post Number: 537 Registered: 08-2006 |
quote: And walking distance to the medical campus, where there is a population of young professionals with enough income to manage that kind of rent. | ||
Thejesus Member Username: Thejesus Post Number: 2736 Registered: 06-2006 |
Hmmmm... Guys, I'm a member of the demographic they are going after with this project and I can tell you that right now I'm happily paying around $850 for 1,100 square feet near downtown Northville, which includes 2 bedrooms, 2 bathrooms, and a balcony. Even though I'm in midtown 5 nights a week, there really isn't much incentive for someone like me to pay $1,400 for less space than I have now. Perhaps they are just testing the market with those prices. I wouldn't be surprised to see them come down a bit. | ||
Detroitpharmstudent Member Username: Detroitpharmstudent Post Number: 3 Registered: 09-2007 |
I'm currently at the Fyfe downtown, but I'm looking to move soon somewhere closer to the DMC and the WSU Pharmacy school as that is where I spend most of my time. So Studio1 is a place I'm seriously considering. Although I think the prices are a little high, I dont think they are as outrageous as some posters seem to think. Many of the much older and less modern 2/3 bedroom apartments in Midtown like the LaBelle building on Second or the Netherlander on Forest rent for about 1000. But they don't come even close to offering what a brand new units offer. One of the few comparable places to lease - the Lofts at Garfield - rent for near 1000 for an older (yet modern) large studio apartment with fewer amenities. If someone can tell me of a place that really compares to Studio1 in midtown or nearby, for a cheaper (or similar) rate, please do. Also I saw someone mention that some people might be leasing out their Ellington loft. If anyone knows about that I'd be really interested. | ||
Pennst8 Member Username: Pennst8 Post Number: 9 Registered: 08-2006 |
Granted they are downtown, and this was 3 years ago, but for a one bedroom unit in the Lofts@Woodward Center + extra parking and approx 900 sq. ft. we were around $1300 a month. This was for a 1 bedroom/1 bath unit. If this building is anywhere as nice as I think it will be, I really don't see what the big fuss is about. Our current two bedroom apartment in Orange County is running us about $2700 a month. | ||
Danny Member Username: Danny Post Number: 6803 Registered: 02-2004 |
Midtown needs some more apts. Than building lofts and condos. So for the housing marking is not doing so well. | ||
Detroitpharmstudent Member Username: Detroitpharmstudent Post Number: 4 Registered: 09-2007 |
^What?! Is that English? | ||
Detroitpharmstudent Member Username: Detroitpharmstudent Post Number: 6 Registered: 09-2007 |
So I just put down the security deposit to reserve my unit on the top floor facing downtown. There was quite a turnout tonight for the grand opening - I think 10 or more of the units are already reserved within 2 hours. Doesn't look like the price is too much of an issue for people. The model unit looked great. | ||
Livernoisyard Member Username: Livernoisyard Post Number: 4607 Registered: 10-2004 |
$17,000 per year for the larger apartments is a bit high for this market. But hey! If some students want to spend that kind of money, it's their (or their parents') business (err, money). | ||
Detroitpharmstudent Member Username: Detroitpharmstudent Post Number: 7 Registered: 09-2007 |
Like I asked before in all sincerity - where can you find something comparable at a better price?? The only rentals I've found with similar features are the Lofts at Merchants Row and those across the street (Lofts at Woodward I think), Kales, Riverplace and Riverfront. All of which are in the same price range. If you know something I don't please tell me! And yes, being a grad student, I intern and pay for my own living expenses lol. But thank you for the concern. Thanks in advance. | ||
Apbest Member Username: Apbest Post Number: 650 Registered: 03-2006 |
what are the confirmed ground tenants besides 5/3...according to modeld they were going to "announce confirmed ground-floor retail tenants." | ||
Swingline Member Username: Swingline Post Number: 947 Registered: 11-2003 |
Studio One prices don't seem that high for luxury segment apartments. Also, don't believe any NYer who claims to be renting a "nice" or a "great" apartment in Manhattan or nearby sections of Brooklyn for less than $3/ft/mo. No such apartment exists unless "nice" includes a basement or four-story walk-up location, a shower located in the kitchen, mice/roaches, or drugs on the front stoop. | ||
Iheartthed Member Username: Iheartthed Post Number: 2213 Registered: 04-2006 |
^Actually, some do exist. NYC has an affordable apartment lottery for people on fixed incomes. I know someone who got a studio in a very nice building in Murray Hill for something like $700/month. Ordinarily, that place would go for three times that. Those new and rehabbed buildings are required to set aside a certain number of units for these lotteries. | ||
Lo_to_d Member Username: Lo_to_d Post Number: 21 Registered: 07-2007 |
Detroitpharmstudent - you can rent to own at the Ellington. You would pay approx. Studio One prices, after one year if you want to buy, 1/2 of the money you spent on rent goes toward purchase. If not, you can move out. Call 734.678.2576 if you are interested. | ||
Chris_rohn Member Username: Chris_rohn Post Number: 346 Registered: 04-2005 |
I'm not too impressed with those painted precast panels they're slapping up. | ||
Vas Member Username: Vas Post Number: 856 Registered: 01-2004 |
DetroitPharmstudent, What are all these features you're talking about? Balcony is nice...but what else? They seemed like crammed one bedrooms for a lot of money. | ||
Crawford Member Username: Crawford Post Number: 160 Registered: 10-2006 |
Detroit Pharm, you are overpaying by quite a bit, but its your money. At the least, you are helping Detroit prosper. The units are very small and the building looks like a prefab dorm. You can rent a nice, historic condo unit with prewar details in Midtown or Downtown for the same or less. You can rent a condo unit in Birmingham or Royal Oak for the same or less. Condo units are always nicer than rentals, and a prime downtown location is much more valuable than a midtown location. | ||
Detroitpharmstudent Member Username: Detroitpharmstudent Post Number: 8 Registered: 09-2007 |
A downtown location is probably more valuable most of the time, but for us students going to school on the medical campus, and interning at the DMC a midtown location is much more convenient. What are the nice historic condo units you speak of? The features I'm looking for something newer or renovated with, new appliances, washer/drying in unit, at least 2br/2bath, balcony, covered/secure parking and most importantly something close to the medical center. Also separate air conditioning/furnace in the unit. The features for Studio1 on right on the website. You dont see most of those features anywhere else. Lo to d - thanks for telling me about the Ellington. How much are rental rates on a 2 or 3 br? That location is perfect for me so its something I'd definitely be interested in. People keep saying they are all these better options than Studio1, but noone can tell me where. Of course a place in the suburbs will be cheaper but that defeats the whole purpose for me. Thanks everyone. | ||
Supergay Member Username: Supergay Post Number: 114 Registered: 05-2006 |
No one can tell you where because they don't know. |
