Eleven - 1111 West River Parkway - 41 stories / 550'

Downtown - North Loop - Mill District - Elliot Park - Loring Park
amiller92
Wells Fargo Center
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Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby amiller92 » February 13th, 2020, 10:14 am

Perhaps, but we've built so few condos that it's hard to see many of them available as investment assets. And even if some are, I don't think Eleven is really displacing opportunities for other housing, so again, don't really care if they're units sit empty anyway.

QuietBlue
Target Field
Posts: 548
Joined: September 14th, 2012, 8:50 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby QuietBlue » February 13th, 2020, 3:16 pm

NickP wrote:
February 12th, 2020, 12:54 pm
Is there anyway to confirm that people are buying these units to live in as opposed to money storage. While I don’t think this is necessarily that case, it’s still a concern in the back of my mind.
Personally, I'm curious about how many are truly, 100% sold, as opposed to someone putting a deposit down or something. I'm skeptical of taking what their sales department says at face value, for obvious reasons.

SurlyLHT
Foshay Tower
Posts: 822
Joined: February 21st, 2017, 3:50 pm

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby SurlyLHT » February 13th, 2020, 3:48 pm

QuietBlue wrote:
February 13th, 2020, 3:16 pm
NickP wrote:
February 12th, 2020, 12:54 pm
Is there anyway to confirm that people are buying these units to live in as opposed to money storage. While I don’t think this is necessarily that case, it’s still a concern in the back of my mind.
Personally, I'm curious about how many are truly, 100% sold, as opposed to someone putting a deposit down or something. I'm skeptical of taking what their sales department says at face value, for obvious reasons.
I agree, think about how much the StarTribune story highlighting how these are supposedly selling fast is worth

mnmike
Wells Fargo Center
Posts: 1120
Joined: June 2nd, 2012, 11:01 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby mnmike » February 15th, 2020, 2:53 am

Well they can't be "100% sold" before they are built. It is probably deposits...I am not even sure if they can have complete purchase agreements before the units are built. I am a Realtor, but I have never done new construction condos. I just know they can't be sold before they exist:)

seanrichardryan
Capella Tower
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Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby seanrichardryan » February 15th, 2020, 11:25 am

Not unless you're Jim Bakker.
Q. What, what? A. In da butt.

bapster2006
Foshay Tower
Posts: 961
Joined: November 17th, 2012, 6:53 pm

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby bapster2006 » February 15th, 2020, 12:27 pm

It's a constant fight to find new angles

ImageEleven condo tower construction from 750 feet Minneapolis 2-15-20 by Matt Bappe, on Flickr

go4guy
Foshay Tower
Posts: 907
Joined: June 4th, 2012, 8:54 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby go4guy » February 15th, 2020, 8:18 pm

Typically you put down a pretty good deposit, and I am pretty sure you do sign a purchase contract. I did all the lending for Wells Fargo on the West Coast in 08-10, and Vegas was in my territory. There were a few large condos built starting before the recession hit. By the time the project was done and it was time to close, purchase contracts for $850,000 had to be torn up because the units had dropped to about $450k in value. Developer could either take the deposit and re-list the unit, or renegotiate down to $450k. Developer always took the bath on the unit just to sell it to the original purchaser.

What I am trying to say is, nothing is guaranteed with these deposits. However, unless something happens in the market, most of these should close!

amiller92
Wells Fargo Center
Posts: 1823
Joined: October 31st, 2014, 12:50 pm

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby amiller92 » February 17th, 2020, 10:29 am

It would be a question of state law though, and Nevada and Minnesota could well be different (I do not know the answer for either state).

eastharrietguy
City Center
Posts: 37
Joined: December 28th, 2014, 11:46 pm

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby eastharrietguy » March 13th, 2020, 7:21 pm

Here's hoping that the current downturn in the stock market does not last or many of those deposits/PAs will go away.

ZM7
Block E
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Joined: April 15th, 2020, 11:28 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby ZM7 » April 15th, 2020, 11:46 am

Screen Shot 2020-04-15 at 12.44.47 PM.png
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UrbWave
City Center
Posts: 39
Joined: July 26th, 2013, 1:07 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby UrbWave » April 19th, 2020, 10:30 am

ZM7 wrote:
April 15th, 2020, 11:46 am
Screen Shot 2020-04-15 at 12.44.47 PM.png
I really appreciate the view! They seemed to have discontinued photo updates on their website.

UrbWave
City Center
Posts: 39
Joined: July 26th, 2013, 1:07 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby UrbWave » April 19th, 2020, 10:55 am


CalMcKenney
Metrodome
Posts: 86
Joined: April 2nd, 2019, 8:54 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby CalMcKenney » April 20th, 2020, 8:11 am

Wow this feels like it's going up so fast.

Oreos&Milk
Nicollet Mall
Posts: 153
Joined: February 11th, 2018, 11:51 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby Oreos&Milk » April 27th, 2020, 10:13 am

Wow those other two short and "plump" buildings look really nice. Granted it looks more like Bloomington than downtown, but still very beautiful place. Can't wait to see what it all looks like from this spot when they are all done. At this rate that be what? Thursday eh?

ZM7
Block E
Posts: 2
Joined: April 15th, 2020, 11:28 am

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby ZM7 » June 28th, 2020, 7:43 am

The Eleven _27_June_20.jpeg
Latest Picture
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Minneboy
US Bank Plaza
Posts: 662
Joined: January 15th, 2013, 1:18 pm

Re: Eleven - 1111 West River Parkway - 41 stories / 550'

Postby Minneboy » June 29th, 2020, 10:30 am

Interesting you can see the rainbow lights reflected in the river from the bridge and then looking a bit more closely you can see the bridge is lit up for Pride as well. Barely noticeable especially considering it's not the subject of the story. Now if only Twelve and Fourteen would be announced and get started. Obviously skipping Thirteen for St. Paul.


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