Portland Tower - 516 S. 8th St.

Downtown - North Loop - Mill District - Elliot Park - Loring Park
mplser
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Re: Portland Tower - 516 S. 8th St.

Postby mplser » October 8th, 2015, 4:50 pm

If you want you can have my old smartphone, wedgeguy! I'd show you how to use it!

twinkess
Rice Park
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Re: Portland Tower - 516 S. 8th St.

Postby twinkess » October 8th, 2015, 8:28 pm

Sorry, was too late in the day but I tried...
Image

grant1simons2
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Re: Portland Tower - 516 S. 8th St.

Postby grant1simons2 » October 13th, 2015, 9:40 pm


twinkess
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Re: Portland Tower - 516 S. 8th St.

Postby twinkess » October 15th, 2015, 9:19 am

Big pour today

Image

contrast
Nicollet Mall
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Re: Portland Tower - 516 S. 8th St.

Postby contrast » October 16th, 2015, 9:41 pm

Sales sign today states 12 sold.

Wedgeguy
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Re: Portland Tower - 516 S. 8th St.

Postby Wedgeguy » October 20th, 2015, 12:50 pm

contrast wrote:Sales sign today states 12 sold.
According to their web site they have 14 units sold and 5 reserved. So with only one level or parking done they have over 12% of the tower sold and with the reserved units they will be at 17% spoken for. I'd like to think that they would be 25% sold or reserved by the 1st of the year, but with the Skyline now announced across the river that might slow sale down a bit. All depends on the price point for the Skyline. Right now all the units that are sold or reserved are below the 13th floor. The top 5 floor maybe a harder sell with the skyline as an option. Have not seen the details on how many bedrooms the Skyline will have, but the top floors of the Portland have some nice three bedroom units that may sell at a better price point than the Skyline.
Last edited by Wedgeguy on October 20th, 2015, 1:14 pm, edited 1 time in total.

grant1simons2
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Re: Portland Tower - 516 S. 8th St.

Postby grant1simons2 » October 20th, 2015, 1:05 pm

Forget where I saw this, but I remember seeing some meeting notes recently stating that the Portland residential corridor will need more 3 beds.

robotlollipop
Metrodome
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Re: Portland Tower - 516 S. 8th St.

Postby robotlollipop » October 20th, 2015, 7:57 pm

What is The Skyline across the river? Is that what they are calling Alatus's tower?

Wedgeguy
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Re: Portland Tower - 516 S. 8th St.

Postby Wedgeguy » October 20th, 2015, 10:48 pm

robotlollipop wrote:What is The Skyline across the river? Is that what they are calling Alatus's tower?
Yes the Alatus tower. I guess that it was what was on one of the documents and so until they decide differently, I guess that is what they have named it. But as we know, names of building have been known to change from the time they are proposed to when they finally open or start marketing them.

Wedgeguy
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Re: Portland Tower - 516 S. 8th St.

Postby Wedgeguy » December 21st, 2015, 12:47 pm

Looks like the parking part of the structure is completed with the first story of residential now close to completion.

bapster2006
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Re: Portland Tower - 516 S. 8th St.

Postby bapster2006 » December 30th, 2015, 9:33 pm

26 sold (23%) + 6 reserved, for about 28% spoken for. Not bad.

Wedgeguy
Capella Tower
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Re: Portland Tower - 516 S. 8th St.

Postby Wedgeguy » December 30th, 2015, 11:07 pm

bapster2006 wrote:26 sold (23%) + 6 reserved, for about 28% spoken for. Not bad.

Close to a quarter sold and they only have one of the residential floor finished so far. This will be over 50% by the time they top off. Shows that condo's can be sold on spec and still do well.

TroyGBiv
US Bank Plaza
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Re: Portland Tower - 516 S. 8th St.

Postby TroyGBiv » December 31st, 2015, 1:15 am

This might bode well for the Franklin Street TCF development...

nate
Landmark Center
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Re: Portland Tower - 516 S. 8th St.

Postby nate » December 31st, 2015, 9:18 am

I seem to remember, back in the condo craze of the mid-aughts, that a bank-financed project would need something like 50% of its units presold before starting construction. It seems this is another advantage of Stanton's peculiar self-financing mode of doing business - he can start construction much earlier than a bank would allow, then use the fact that the building is under construction and has a definite completion/move-in date to sell units more easily.

Wedgeguy
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Re: Portland Tower - 516 S. 8th St.

Postby Wedgeguy » December 31st, 2015, 11:54 am

nate wrote:I seem to remember, back in the condo craze of the mid-aughts, that a bank-financed project would need something like 50% of its units presold before starting construction. It seems this is another advantage of Stanton's peculiar self-financing mode of doing business - he can start construction much earlier than a bank would allow, then use the fact that the building is under construction and has a definite completion/move-in date to sell units more easily.
That is the main sticking point for many projects like condo's. He has made good on all of his projects on getting them 50% pre-sold before they are topped off. Curious how the Skyline will do. Will they have to have part of it pre-sold before they can start construction. Stanton did not start pre-selling until he got it under construction to the best of my knowledge.

bapster2006
Foshay Tower
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Re: Portland Tower - 516 S. 8th St.

Postby bapster2006 » December 31st, 2015, 3:51 pm

Looks like we need an update:

ImagePortland Tower Minneapolis 12-31-15 by Matt Bappe, on Flickr

seanrichardryan
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Re: Portland Tower - 516 S. 8th St.

Postby seanrichardryan » December 31st, 2015, 4:17 pm

Podium podium PAH odium! Those 60s windows are a nice touch.
Q. What, what? A. In da butt.

grant1simons2
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Re: Portland Tower - 516 S. 8th St.

Postby grant1simons2 » January 7th, 2016, 1:26 pm

ImageDSC_1827 by grant.simons, on Flickr

ImageDSC_1826 by grant.simons, on Flickr

ImageDSC_1828 by grant.simons, on Flickr

ImageDSC_1825 by grant.simons, on Flickr

ImageDSC_1824 by grant.simons, on Flickr

grant1simons2
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Re: Portland Tower - 516 S. 8th St.

Postby grant1simons2 » January 21st, 2016, 9:18 pm

Hey look windows

Image

seanrichardryan
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Re: Portland Tower - 516 S. 8th St.

Postby seanrichardryan » January 21st, 2016, 11:56 pm

parking ramp windows. Why the random pattern?
Q. What, what? A. In da butt.


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