Graves Condo Building - 3041 Holmes

Calhoun-Isles, Cedar-Riverside, Longfellow, Nokomis, Phillips, Powderhorn, and Southwest
bapster2006
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Graves Condo Building - 3041 Holmes

Postby bapster2006 » June 3rd, 2015, 6:49 am

6 story building with 9 high-end units and a restaurant on the ground floor.

http://m.bizjournals.com/twincities/mor ... nt-in.html

EOst
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Re: 3041 Holmes

Postby EOst » June 3rd, 2015, 8:12 am

Now: https://www.google.com/maps/@44.946653, ... BEfFnQ!2e0

It looks like this would demolish the white house next to the parking lot as well, which was built in 1904. Graves owns both: https://www.google.com/maps/@44.946653, ... BEfFnQ!2e0

Wish there were a place we could move all these old homes instead of putting them in a landfill.

Wedgeguy
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Re: 3041 Holmes

Postby Wedgeguy » June 3rd, 2015, 8:33 am

I feel that this is at least an area where they can sell 2,500-3,000 SF condo's and get the interest and the price, unlike the 601 in NL. This will offer great views of a great neighborhood and even a few peaks at the lakes. One of the biggest problem in this area is that there are few if any empty lots to move a house to. This is a tight area for trying to move anything as there area a lot of traffic signals and power lines that would cause great headaches and expense to move temporarily. Kind of reminds me of the condos at Lake Calhoun, which is not really a bad thing.

Hoping this will light a fire under the land owners of the big parking lot across the street, that is used for SON and WF parking, that a decent building replace that. Maybe even on that would have some District parking like a few other development in the Uptown area.
Last edited by Wedgeguy on June 3rd, 2015, 8:45 am, edited 1 time in total.

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seamonster
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Re: 3041 Holmes

Postby seamonster » June 3rd, 2015, 8:43 am

I was afraid these would only be very, very high-end units, but according to Ben Graves, they will be "very, very, very high-end units."

John
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Re: 3041 Holmes

Postby John » June 3rd, 2015, 2:34 pm

seamonster wrote:I was afraid these would only be very, very high-end units, but according to Ben Graves, they will be "very, very, very high-end units."
1,000,000+ ???

Wedgeguy
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Re: 3041 Holmes

Postby Wedgeguy » June 3rd, 2015, 2:35 pm

Probably more like 1.5 M +++

grant1simons2
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Re: 3041 Holmes

Postby grant1simons2 » June 3rd, 2015, 3:18 pm

Voge is saying it'll be concrete structure and that Jim Graves may live there. I like it so far. One of my favorite "basic" designs you see in the cities. And the restaurant spade will give Lucia's healthy competition

RailBaronYarr
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Re: 3041 Holmes

Postby RailBaronYarr » June 3rd, 2015, 3:21 pm

Single family homes with 2,000 finished sqft (and in not-new or updated condition, I'll add) go for $450-500k in this area. I would say $1M+ is the minimum, probably $1.5M

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Re: 3041 Holmes

Postby EOst » June 3rd, 2015, 6:59 pm

I sort of assumed Graves would live there himself; it's a kinda random project for him otherwise, and we know he likes urban living.

David Greene
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Re: 3041 Holmes

Postby David Greene » June 3rd, 2015, 8:22 pm

seamonster wrote:I was afraid these would only be very, very high-end units, but according to Ben Graves, they will be "very, very, very high-end units."
But it increases supply, so more affordable housing, yay!

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Re: 3041 Holmes

Postby David Greene » June 3rd, 2015, 8:26 pm

Wedgeguy wrote:One of the biggest problem in this area is that there are few if any empty lots to move a house to. This is a tight area for trying to move anything as there area a lot of traffic signals and power lines that would cause great headaches and expense to move temporarily.
I agree with the statement but am puzzled about why you bring up moving houses for this project. The white house isn't anything special and it's on a fairly commercial block right now. I have no problem with razing it. Looks like it has vinyl windows, the original siding is at least covered over if not completely gone and the house may have been totally gutted inside, maybe so much that salvage isn't even worth it. Of course we should salvage what we can if there significant stuff in there. We could use some crowns for our interior doors and windows. :)

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Re: 3041 Holmes

Postby David Greene » June 3rd, 2015, 8:32 pm

RailBaronYarr wrote:Single family homes with 2,000 finished sqft (and in not-new or updated condition, I'll add) go for $450-500k in this area. I would say $1M+ is the minimum, probably $1.5M
I don't think it's quite THAT high, especially for something that's not been updated. Our neighbors bought their extensively renovated two-story with well over 2,000 finished sq. feet for $475k, which is on the low end of your scale for non-updated homes. A similar somewhat smaller house went for $425k.

I've seen non-updated houses in the Wedge listed for less than $400k. One has been for sale for almost a year and I'll bet the price has dropped significantly.

And this existing house is on a less-desirable street so I don't think condos would HAVE TO be $1M+.

I think it's pretty hard to nail down general housing prices in the area. Conditions of houses are all over the map.

I do like the design. Simple and elegant.

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Re: 3041 Holmes

Postby Wedgeguy » June 3rd, 2015, 8:54 pm

3000 SF of very very very high end finishes would probably have a couple of $100,000 spent in just finishes, Wood work, Granite or marble, appliances, and fixtures alone. I'm sure that a few parking spaces will come with each unit so that is more expense. Yes, These could easily go for $1.5 or more once all is worked into the price.

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Re: 3041 Holmes

Postby David Greene » June 3rd, 2015, 8:59 pm

I was simply replying to the notion that existing house prices determine condo prices. I wasn't commenting on this particular project, which is obviously very expensive. I should have been clearer.

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Re: 3041 Holmes

Postby seanrichardryan » June 3rd, 2015, 9:00 pm

David Greene wrote:
seamonster wrote:I was afraid these would only be very, very high-end units, but according to Ben Graves, they will be "very, very, very high-end units."
But it increases supply, so more affordable housing, yay!
Yes, all the rich people will move from their 1.5 million dollars apartments in Uptown, thus opening up thousands of $500 studios in convenient locations near transit and favorite millenial amenities! yay!
Q. What, what? A. In da butt.

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Re: 3041 Holmes

Postby David Greene » June 3rd, 2015, 9:02 pm

I wasn't commenting on the general notion of desification but rather the ridiculous notion that more supply in a hot area will necessarily make things cheaper. Things will get affordable only after the area loses its heat.

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Re: 3041 Holmes

Postby seanrichardryan » June 3rd, 2015, 9:09 pm

I guess we both forgot the /sarcasm font.
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Re: 3041 Holmes

Postby FISHMANPET » June 3rd, 2015, 9:28 pm

David Greene wrote:I wasn't commenting on the general notion of desification but rather the ridiculous notion that more supply in a hot area will necessarily make things cheaper. Things will get affordable only after the area loses its heat.
One of the ways to lose the heat is to overbuild luxury housing </not sarcasm>

mattaudio
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Re: 3041 Holmes

Postby mattaudio » June 3rd, 2015, 9:34 pm

Homes on Holmes?

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FISHMANPET
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Re: 3041 Holmes

Postby FISHMANPET » June 3rd, 2015, 9:55 pm

Holmes on Homes on Holmes.


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