March 09, 2008
i went to an open house at trinity lofts today. these are urban lofts built on the foundation of a small warehouse in my neighborhood.
the price is pretty astonishing. from the price list they gave me, they range from $211 - $225 per square foot. for this you get a reasonably nice urban loft, but basically no outdoor space at all. I guess they're banking on the fact that it's right on the greenway and central park is walkable.
so that translates into the big end unit being $443k at 1965 sq ft, and one of the, um, more modest units being $250k for 1182 sq ft.
for perspective, my house, which is about four blocks away, is 1100 sq ft and was valued at around $153k last summer. that 1100 sq ft doesn't include my attic, my basement, or of course, my yard.
so for an extra $100k, you get brand new construction, yes, but way less space, all told, and a lovely view of the parking lot.
they have actually sold a couple of the units, and when i was walking around in the one really large unit that was open and staged (around 2000 sq ft) i could see the appeal. it has a really nice modern feeling to it.
nice energy efficient and sustainable touches; bamboo flooring up in the loft, nice double pane wood windows and sliding doors, and the big unit had a pellet stove with a fair amount of exposed chimney-- although it would have been nice to see the chimney run horizointally across the space to get more heat out of it. i was also surprised that they didn't use tankless water heaters. with the cramped spaces, that seems like a no-brainer.
they're having open houses almost every week, and the realtor on duty said they are mostly trying to reach people "in the neighborhood", i guess so we can, like blog about how expensive they are, or something.
Posted by lisa at March 09, 2008 10:55 PM
Right. Like everyone in OND, DP, and TP is going to dump their houses and come running to live on the corner of... Washington and Trinity? Like that poor guy who thinks he's living "downtown." There are lots of those suckers people around. Right. Not.
Meanwhile, I bet half the folks in OND and DP are thinking "good, my property values are going to go up," while the other half think "damn, my property taxes are going to go up."
Posted by: Joseph H. Vilas on March 10, 2008 12:16 AM
Hey Lisa, sell me your house and go move into one of those lofts, 'k? ;-)
The thing that really bugs me about those lofts is the way their little terrace areas are completely shielded from street view by that corrugated metal stuff. It makes the place look sort of fortressy, and uninviting, as if the building doesn't really want anything to do with its actual location (OK, that's anthropomorphizing, I know, but whatever). The message it seems to send is "Hey, we residents of this building want to be all hip-urban-gritty-pioneer-cool, but we don't really want to see the people walking by on our urban street or let them see us because honestly, we're afraid to make direct eye contact with them. They might scare us or something."
Posted by: Lisa B on March 10, 2008 03:30 PM