urbanMSP

Hello fellow WBOB prisoner, I mean occupant

Attended the meeting yesterday. Only one person spoke in opposition which was a resident of the Legacy. Obviously not happy with the new building blocking their view of the riverside. Anyway, all items for Eleven passed 6-0!

This is rich. They just stole the view of the river from the west bank office building (where I work) and now they're already complaining that their view is in jeopardy.

Hi. The resident didn't steal anything. They bought a condo from a developer, likely before Eleven was announced. That condo derived a lot of its value from its view, and now the view is almost immediately obstructed, which will likely cost them a lot of money when they sell, not to mention rob them of one of the primary reasons they purchased that unit.

Condo sales/apartment rentals maybe should to be forced to disclose which chunks of an “assumed view” is developable so people desiring to own/rent can make informed decisions.

Non-disclosure would put liability in an interesting place.

I think anyone with a lick of common sense should be able to figure out that something might be built next or nearby that could block their view and hurt their resale value. I had 16 vacant lots to the east of me, with unobstructed views of woods and farmland when I moved in to my house 14 years ago. In the last 3 years 9 of those lots have been built on and a couple of those houses are prefab. Thankfully my property continues to increase in value but the view is a loss.

Any realtor worth anything would inform their client of potential view obstructions. This includes any units sold in Legacy. Unfortunately, there are a lot of realtors that only want their clients to buy/sell as soon as possible so they can get their commission. So there are a lot of unit owners upset and don't understand how their view could be taken.

Blame the realtor, blame the builder, blame your mother but god forbid you ever blame yourself for your choices. Ugh.

I agree to a point, but you are hiring a realtor to work in your best interest, complete the due diligence on the property you are looking at, and ensure you are informed. A realtor doesnt just write up the contract and take a commission of 3% for nothing!

Yeah, I mean obviously this one person's complaint shouldn't halt the project, and maybe they should have known better. But a realtor selling a view should probably...warn that the view might go away.

I wonder if the parking lot Eleven will be built on was seen as more or less permanent by everyone involved.

Yeah, this one was kind of out of left field? Out of all the places, who would have guessed that parking lot would be getting a new building (let alone a 40 some story tower) a couple years ago?

The Izzy’s Effect?

Fences are going up. This one is happening.

Any indication of where they're at with pre-sales?

It's gonna be sort of nuts if they start digging on this before Alia.

looks like it'll cost 850K to get your foot in the door. 1,400 sq ft, 1 bed plus den with southeast view.

Wow! Excellent news! They must be proceeding without a very high percentage of presales!?!?

looks like it'll cost 850K to get your foot in the door. 1,400 sq ft, 1 bed plus den with southeast view.

Suddenly a lot of the other downtown places look affordable

Wow! Excellent news! They must be proceeding without a very high percentage of presales!?!?

We've no idea what the pre-sales figures are since the prices and client list are confidential. But evidently they're high enough to secure financing for construction. Good news.

looks like it'll cost 850K to get your foot in the door. 1,400 sq ft, 1 bed plus den with southeast view.

Who. Are. These. People.

Just think of the number of doctors, NPs, PAs, CRNAs and other professions at HCMC and the U of M hospital. That is large number of people, many that may prefer to live close to work. Not to mention pharmaceutical sales that need to be close to hospitals and easy access to the airport. This is a great location. And that is just one sector. One thing that cannot be overlooked is there are a ton of jobs that pay over $200k/year that people never even think about. Those people alone can afford a unit, but adding a second income to the household and there are many that may not even blink at these prices.

Definitely exciting about construction starting.

Interesting discussion further up about the views being obstructed. I can definitely understand both sides of the argument. The person who bought the condo obviously liked the view. I do think the realtor should look into things like this. It is important that people understand that their view could go away. Especially if that view looks down at a parking lot. All very interesting things to think about.

I will have to go over to this area and get some pictures soon.


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