WaHu Student Housing - 1000 Washington Avenue SE

Northeast, Near North, Camden, Old St. Anthony, University and surrounding neighborhoods
Silophant
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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Silophant » March 30th, 2014, 9:50 am

With all the concessions being offered, it looks like the various developers are having trouble filling the hundreds (thousand?) luxury units coming online this year between MPE, the Bridges, 700 Washington, the Venue, the Marshall, and probably another one I'm forgetting. Building another 300 here to be finished in 2015 might be an expensive overreach for CPM.

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Nathan
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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Nathan » March 30th, 2014, 10:44 am

It might mean they have to make concessions the first couple of years, but I think it's still a good long term investment. It's in such a good location, if they do this right they can definitely steal students away from other buildings that are "Luxury" priced but don't have the location to go along with it.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Snelbian » March 30th, 2014, 11:11 am

We're still talking about places charging 4-6x the rent I paid in 2007 to live on Erie St. only a couple blocks from the Superblock. Prices were already high, and the shift away from commuter school is only driving them up further. I don't think competitive concessions are really a sign of declining demand. It's probably just a sign of some prices being slightly too high.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby seanrichardryan » March 30th, 2014, 11:45 am

min-chi-cbus wrote:Not sure I understand the reference...
The more we know :) - http://www.wisegeek.com/what-does-the-i ... youknowout
Q. What, what? A. In da butt.

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Anondson
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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Anondson » March 30th, 2014, 12:22 pm

Always surprised how certain references are simply pop culture references with an apparent "best if used by" date.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby MNdible » March 30th, 2014, 1:07 pm

Yes, although this project is certainly more ambitious than most of the other projects going on, it clearly has a superior location. Close to the heart of campus, close to the retail on Washington Avenue, and close to an LRT stop. Also, it has the long term benefit of superior (concrete) construction, which may not matter much in the beginning, but should become evident in a few years when compared to other properties.

There will be concessions, I'm sure. But with student housing especially, I suspect that the concessions are already built into their business model. Since everybody is always renting for the same Sept. 1st date, you're willing to spend a little to get somebody locked into a year long lease rather than sitting empty for a whole year.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby lordmoke » April 15th, 2014, 9:02 am

From the freeway, it looked like the tower crane on this was going up this morning. I have no idea what else it could have been for.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby nordeast homer » April 15th, 2014, 10:46 am

^^^
You are correct. I drove past it this morning to make sure it was this one. They've really come a long way on this site since the last time I was over there!

Didier
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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Didier » April 17th, 2014, 4:46 pm

Whoa. The neighboring building that used to house a paintball store is totally gutted and half torn down. Is WaHu taking that space over too?

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Silophant » April 17th, 2014, 8:08 pm

Yep. This one's biiiig.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Didier » April 17th, 2014, 8:24 pm

Does that include Caspian Bistro too? I saw a women doing something ominous in a window yesterday but she might have just been cleaning.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Silophant » April 17th, 2014, 8:50 pm

According to the second page of this thread (Nearly two years ago!) Little Dearborn and Caspian Bistro will remain, but everything east of Caspian Bistro will become part of this project.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby contrast » April 17th, 2014, 9:34 pm

...west of Caspian.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Silophant » April 17th, 2014, 9:51 pm

Yeah.... Stage east?

Unity77
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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Unity77 » April 17th, 2014, 10:40 pm

Didier wrote:Does that include Caspian Bistro too? I saw a women doing something ominous in a window yesterday but she might have just been cleaning.
I would be okay with it as the Caspian is one of the most overrated restaurants in the Twin Cities.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Snelbian » April 18th, 2014, 12:34 am

Unity77 wrote:
Didier wrote:Does that include Caspian Bistro too? I saw a women doing something ominous in a window yesterday but she might have just been cleaning.
I would be okay with it as the Caspian is one of the most overrated restaurants in the Twin Cities.
The market is better than the restaurant. Best place for feta and pistachios in the cities that I've found.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Didier » April 18th, 2014, 8:59 am

I'd rather it be a Noodles or maybe a Milio's.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby Didier » April 18th, 2014, 8:59 am

And to be sure, I'm obviously kidding.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby talindsay » April 18th, 2014, 9:08 am

Unity77 wrote:
Didier wrote:Does that include Caspian Bistro too? I saw a women doing something ominous in a window yesterday but she might have just been cleaning.
I would be okay with it as the Caspian is one of the most overrated restaurants in the Twin Cities.
Sorry, that's just crazy.

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Re: WaHu Student Housing - (1016 Washington Avenue Southeast

Postby eazydp » April 18th, 2014, 3:16 pm

Got a picture today. Silophant is correct, this thing is humongous. Also, this is very near the new Mesa pizza location, which I just discovered despite working two blocks away. That strip mall needs to be the next "victim" of the University Development Industrial Complex.

Image
https://www.flickr.com/photos/122783566 ... 927836703/


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