4Marq - 400 Marquette Ave (313' - 30 Stories)

Downtown - North Loop - Mill District - Elliot Park - Loring Park
Didier
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Re: 4Marq - (313' - 30 Stories)

Postby Didier » March 20th, 2015, 9:24 am

Aren't shared utilities usually build into the rent? In which case you'd probably be overpaying.

mulad
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Re: 4Marq - (313' - 30 Stories)

Postby mulad » March 20th, 2015, 4:53 pm

Sharing heating (or cooling) can be bad because there's little direct reinforcement of costs versus the amount of energy used. One of my coworkers is president of his condo association, where one of his first jobs was to switch over to billing units individually for electric usage. Some people relied way too much on space heaters and were amazed when their first bills were huge. People kept their lights on all the time too, but they're behaving better now.

go4guy
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Re: 4Marq - (313' - 30 Stories)

Postby go4guy » March 24th, 2015, 6:30 am

^ That is my thought as well. When the HOA pays for the heat, what is to stop someone from having their heat on and windows open in the winter. Individual heat and cooling would seem to be better for energy usage.

NE_love
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Re: 4Marq - (313' - 30 Stories)

Postby NE_love » March 24th, 2015, 7:05 am

FWIW Sub-metering gas is expensive because of the small amount of gas used and the large upfront cost. It often doesn't "pencil out.". Gas needs to be sub-metered on the exterior and copper($$$) pipe run up to each individual unit, even more expensive when talking about a high rise like this.

Electricity, on the other hand, is easy to sub meter as mains can be run vertically and sub metered in a closet/room on each level. With electric appliances in the unit, using an electric magic pak makes the mos financial sense for the owner.

min-chi-cbus
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Re: 4Marq - (313' - 30 Stories)

Postby min-chi-cbus » March 24th, 2015, 8:34 am

^It's interesting to see the engineering/GC side of the equation. I work a lot with the utility billing side of things for our Sustainability group and I often see single-bill heat for most Residential buildings, and especially hi-rises, probably for the reasons you outlined.

There are a lot of perks to having one consolidated bill for the LL though, as it's much easier to track and control, especially when it comes to investing in improvements. However, if the efficiencies gained pass on to the lessee when they pay their own bills, the LL has less incentive to make sustainable retrofits (for example), since the savings is largely passed on to the customer (I said "largely" because the LL will still pay for common areas and vacant spaces, and also because the building will be more attractive to lessees due to lower utilities expenses, and that can drive rents up).

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FISHMANPET
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Re: 4Marq - (313' - 30 Stories)

Postby FISHMANPET » March 24th, 2015, 9:36 am

It's kind of a larger problem for efficiency in rental, if the person purchasing the equipment isn't the person using it and/or paying for it, you can get weird situations. A tenant paying the cost to run a refrigerator would like an efficient refrigerator, but the landlord doesn't have a direct incentive to buy a more expensive fridge. With something like the magi-paks, there's no direct incentive to keep and maintain the unit efficiently. And if the heating/cooling costs are paid by the landlord, no reason for the tenant to moderate their usage.

grant1simons2
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Re: 4Marq - (313' - 30 Stories)

Postby grant1simons2 » March 24th, 2015, 9:43 am

ImageWP_20150323_022 by grant.simons, on Flickr

One of my favorite views of this block

TTT
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Re: 4Marq - (313' - 30 Stories)

Postby TTT » March 24th, 2015, 10:54 am

Nice picture. The block looks better IMO with these buildings here than not.

Wedgeguy
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Re: 4Marq - (313' - 30 Stories)

Postby Wedgeguy » March 24th, 2015, 6:02 pm

I have to say while standing outside of Wholepaycheck this evening, This building really pops out of the skyline compared to other building that just blend in and are background noise as it were.

min-chi-cbus
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Re: 4Marq - (313' - 30 Stories)

Postby min-chi-cbus » March 25th, 2015, 7:59 am

I was just in town last week visiting friends and I was in downtown checking out all of the development, and one thing that made my heart sink just a bit was how both the Nicollet Hotel Block AND the Powers Block both have single-project developments planned, as opposed to the 3 projects U/C for the Ritz Block you see in this photo. The Ritz is urbanism and revitalization done right, if you ask me.

I realize the Nic Hotel Block is smaller, and that the Powers Block may eventually have two buildings -- and that helps some -- but still....I wish developers were only allowed to build 1/2 a block at a time, or ideally, 1/4 of the block.

mattaudio
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Re: 4Marq - (313' - 30 Stories)

Postby mattaudio » March 25th, 2015, 8:03 am

^this. I'm also concerned about the DTE megablocks. Though one area where coordination is useful would be full block plate underground parking, not that we're likely to get that anywhere at the north end of Nicollet. Yet we get much better results with smaller parcels.

HiawathaGuy
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Re: 4Marq - (313' - 30 Stories)

Postby HiawathaGuy » March 25th, 2015, 8:25 am

min-chi-cbus wrote:I was just in town last week visiting friends and I was in downtown checking out all of the development, and one thing that made my heart sink just a bit was how both the Nicollet Hotel Block AND the Powers Block both have single-project developments planned, as opposed to the 3 projects U/C for the Ritz Block you see in this photo. The Ritz is urbanism and revitalization done right, if you ask me.

I realize the Nic Hotel Block is smaller, and that the Powers Block may eventually have two buildings -- and that helps some -- but still....I wish developers were only allowed to build 1/2 a block at a time, or ideally, 1/4 of the block.
The Powers block is the one featured in the photo above... Marq4, Nic on 5th & Xcel building. The Nicollet Hotel block is north of the library, and the Ritz block is east of the library.

Just wanted to point that out. However, you make a good point - but when a developer owns the entire block, there's not much that can be done to change what they want to develop on it. The Powers block had multiple owners - which is why it has 3 different uses on it.

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Re: 4Marq - (313' - 30 Stories)

Postby Silophant » March 25th, 2015, 8:33 am

Well, the Gateway tower is going to be full block underground parking, albeit under a full block parcel. They also suggested that they were looking at connecting it directly to Marquette Plaza's underground parking, though I'm not optimistic that'll happen.

Didier
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Re: 4Marq - (313' - 30 Stories)

Postby Didier » March 25th, 2015, 11:27 am

mattaudio wrote:^this. I'm also concerned about the DTE megablocks. Though one area where coordination is useful would be full block plate underground parking, not that we're likely to get that anywhere at the north end of Nicollet. Yet we get much better results with smaller parcels.
They're not really "megablocks," though. The Wells Fargo buildings spread the length of a block, but they're actually quite narrow and won't front the street all that much when the other buildings are completed.

min-chi-cbus
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Re: 4Marq - (313' - 30 Stories)

Postby min-chi-cbus » March 25th, 2015, 1:45 pm

HiawathaGuy wrote:
min-chi-cbus wrote:I was just in town last week visiting friends and I was in downtown checking out all of the development, and one thing that made my heart sink just a bit was how both the Nicollet Hotel Block AND the Powers Block both have single-project developments planned, as opposed to the 3 projects U/C for the Ritz Block you see in this photo. The Ritz is urbanism and revitalization done right, if you ask me.

I realize the Nic Hotel Block is smaller, and that the Powers Block may eventually have two buildings -- and that helps some -- but still....I wish developers were only allowed to build 1/2 a block at a time, or ideally, 1/4 of the block.
The Powers block is the one featured in the photo above... Marq4, Nic on 5th & Xcel building. The Nicollet Hotel block is north of the library, and the Ritz block is east of the library.

Just wanted to point that out. However, you make a good point - but when a developer owns the entire block, there's not much that can be done to change what they want to develop on it. The Powers block had multiple owners - which is why it has 3 different uses on it.
Agree.

Agree. Agree.

bapster2006
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Re: 4Marq - (313' - 30 Stories)

Postby bapster2006 » March 25th, 2015, 3:25 pm

Dang it Grant, I've got that view from the library copyrighted!

grant1simons2
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Re: 4Marq - (313' - 30 Stories)

Postby grant1simons2 » March 25th, 2015, 3:34 pm

It's my reading nook too! Seniority rule I guess :(

bapster2006
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Re: 4Marq - (313' - 30 Stories)

Postby bapster2006 » March 25th, 2015, 3:59 pm

Ok, we will just battle over that spot! :-) I think I will wait till it hits 30 floors and snap another photo.

talindsay
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Re: 4Marq - (313' - 30 Stories)

Postby talindsay » March 25th, 2015, 4:05 pm

min-chi-cbus wrote:I was just in town last week visiting friends and I was in downtown checking out all of the development, and one thing that made my heart sink just a bit was how both the Nicollet Hotel Block AND the Powers Block both have single-project developments planned, as opposed to the 3 projects U/C for the Ritz Block you see in this photo. The Ritz is urbanism and revitalization done right, if you ask me.

I realize the Nic Hotel Block is smaller, and that the Powers Block may eventually have two buildings -- and that helps some -- but still....I wish developers were only allowed to build 1/2 a block at a time, or ideally, 1/4 of the block.
I completely concur.

TroyGBiv
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Re: 4Marq - (313' - 30 Stories)

Postby TroyGBiv » April 10th, 2015, 8:55 pm

Looks like they only have 4 floors left! It's looking better now that I see it in real life.


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