Portland Tower - 516 S. 8th St.

Downtown - North Loop - Mill District - Elliot Park - Loring Park
grant1simons2
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Re: Portland Tower - 516 S. 8th St.

Postby grant1simons2 » July 13th, 2016, 5:46 pm

112 sold

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

Postby bapster2006 » July 13th, 2016, 6:20 pm

Do you mean 52? By the way, the website has said 52 sold for about six weeks now. I think they are stuck at that number.

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

Postby grant1simons2 » July 13th, 2016, 6:21 pm

Ah, yes. I totally skipped the 52 part and read it as 112 sold.

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mister.shoes
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Re: Portland Tower - 516 S. 8th St.

Postby mister.shoes » August 3rd, 2016, 2:14 pm

They just took all the construction supplies off the roof of this building. It appears (from the K/A webcam) that the only exterior work left to do is a small section of parking podium siding along Portland. Trees have even been planted along the streets. Just in time for Mr. Stanton to get all his construction workers over to the Mill District.
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twinkess
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Re: Portland Tower - 516 S. 8th St.

Postby twinkess » September 12th, 2016, 8:31 am

Looks like move-ins have begun! Saw a moving van on Friday, stuff is on people's balconies and condo lights are on at night.

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

Postby Silophant » September 14th, 2016, 10:01 am

Yeah, there were a couple people working out as I biked past last night.

I can't think of many bigger disincentives to getting in shape than floor-to-ceiling, very transparent windows between my treadmill or whatever and a busy street.

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mister.shoes
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Re: Portland Tower - 516 S. 8th St.

Postby mister.shoes » September 14th, 2016, 10:24 am

Sure, but if you're already in shape, it's a hell of a way to show off.
The problem with being an introvert online is that no one knows you're just hanging out and listening.

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

Postby Archiapolis » September 15th, 2016, 11:14 am

Barring retail at ground level, fitness spaces are a good active use at grade.

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

Postby bapster2006 » October 6th, 2016, 8:55 am

59 (52%) sold. Sales seem to be picking up now that they have models available to view. I've been curious to track the rate of sales so I can compare to Legacy close to the river.

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

Postby Qhaberl » October 6th, 2016, 9:33 am

Any idea on the demographics of people who are buying the condos?


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

Postby bapster2006 » August 22nd, 2017, 9:19 am

66% sold after one year of being open and 2 1/2 years of sales. Sales are very slow and the only units remaining are at least $440,000 and up.

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

Postby Qhaberl » August 22nd, 2017, 9:27 am

Those may take a little while to sell. Do people still think the condo market is rebounding? this seems to be taking a while to sell.


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

Postby SurlyLHT » August 22nd, 2017, 9:35 am

The location isn't the best, but will be better once the construction across the street ends. The brewery and etc. that is being built might also be an asset for the property. Otherwise, I honestly think the building is ugly and oddly placed on the edge of the commercial district.

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

Postby mnmike » August 22nd, 2017, 9:50 am

Slow at this price point...if they could build new downtown for under 300k/unit they would sell out in no time.

amiller92
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Re: Portland Tower - 516 S. 8th St.

Postby amiller92 » August 22nd, 2017, 10:05 am

Qhaberl wrote:
August 22nd, 2017, 9:27 am
Those may take a little while to sell. Do people still think the condo market is rebounding? this seems to be taking a while to sell.


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Almost two years ago now, but we sold ours in 72 hours. My brother had to wait a bit longer after there was water issue, but it wasn't long either.

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

Postby mnmike » August 22nd, 2017, 10:07 am

I just sold one at the lower price point that is in high demand (I am an agent) for 15k over asking, one day on market.

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

Postby Silophant » August 22nd, 2017, 10:10 am

I think it's the combination of price point and location. These are pretty much the same condos, in basically the same building, as Shamrock's other recent projects, but back in Elliot Park instead of being right up by the river and Elliot Park. I'm guessing the Legacy will still sell fast, even at this price point. I'm just spitballing, though - I've got no experience in this area beyond clicking around on Zillow.

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

Postby bapster2006 » August 22nd, 2017, 10:17 am

Yea, Legacy has sold 118 units, compared to Portland's 112 unit building total (74 sold), and I think the river has a lot to do with that.

Portland tower's location next to House of Charity and nowhere near the river I think means that it is hard to justify $800,000.

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

Postby SurlyLHT » August 22nd, 2017, 11:08 am

It would help if there were some green space nearby. That is one thing that makes areas near the river desirable. This building is among a sea of parking lots and other buildings. Be nice if the oft spoken about Thrivent block ended up with some green space to connect the area between the commons and the dog park near the freeway.

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

Postby alexschief » August 22nd, 2017, 11:23 am

Not exactly surprising. As others have noted, the Portland Tower is located in an area that could charitably be described as "emerging." The KA block will help, but there are still two surface lots across Portland Ave. opposite the Portland Tower and HQ Apartments. Just a block to the northeast, there are two more surface lots fronting Portland Ave.

It would be nice if Shamrock, in seeing this problem, would take the lead on developing Portland Ave. further, to at the very least provide a corridor of urbanity to run from the Commons to the KA block. That Portland and Park plan might help sell other developers on building out the area. But the Portland Tower was the first to make the leap into this area, someone had to do it, but unfortunately it isn't catching fire to the degree that would happen in more established areas.


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