Gould Apartments - 501 15th Ave SE

Northeast, Near North, Camden, Old St. Anthony, University and surrounding neighborhoods
schmitzm03
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Re: (501 15th Avenue Southeast)

Postby schmitzm03 » June 21st, 2014, 9:59 pm

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Silophant
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Re: (501 15th Avenue Southeast)

Postby Silophant » June 22nd, 2014, 6:07 pm

I know that this is a pretty small building, so it'll go up faster than I expect, but I feel like this is way behind schedule if they intend to be ready for move-in by the end of August.

go4guy
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Re: (501 15th Avenue Southeast)

Postby go4guy » August 20th, 2014, 10:57 am

This looks to be topped out, but nowhere near ready for a move in date when school starts. Poor planning since you would basically have to bank on kids moving out of the dorms during the school year to get any renters.

seanrichardryan
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Re: (501 15th Avenue Southeast)

Postby seanrichardryan » August 20th, 2014, 11:10 am

While there is an apartment rush in August, people move all the time, every month in fact.
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go4guy
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Re: (501 15th Avenue Southeast)

Postby go4guy » August 20th, 2014, 12:04 pm

That is true for the general population, but not for a student attending the U. And that is the target market for this project. Very very few people move during the school year by choice.

Silophant
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Re: (501 15th Avenue Southeast)

Postby Silophant » August 20th, 2014, 12:09 pm

I'm wondering if their plan is to be ready by January, for people moving out of the dorms or transferring to the U. There's not huge numbers of such people, but then this isn't a very big building either.

go4guy
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Re: (501 15th Avenue Southeast)

Postby go4guy » August 20th, 2014, 1:13 pm

Good call. Plus, I am sure the older portion has already been renovated and ready for move in weekend.

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Re: (501 15th Avenue Southeast)

Postby Silophant » August 20th, 2014, 1:24 pm

Yep. That part was advertising for tenants all summer.

exiled_antipodean
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Re: (501 15th Avenue Southeast)

Postby exiled_antipodean » August 20th, 2014, 10:05 pm

go4guy wrote:That is true for the general population, but not for a student attending the U. And that is the target market for this project. Very very few people move during the school year by choice.
In spring 2014 there were 2300 students who were newly enrolled or transfers from other colleges (out of a total Twin Cities campus enrolment of c. 47,000). Are all of them looking for near-campus housing? Probably not. So, the mid-academic-year apartment seeking market is not huge but it's there.

EOst
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Re: (501 15th Avenue Southeast)

Postby EOst » August 21st, 2014, 6:45 am

That doesn't include students returning from study abroad, though, who are probably actually pretty likely to be looking for this kind of place.

exiled_antipodean
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Re: (501 15th Avenue Southeast)

Postby exiled_antipodean » August 21st, 2014, 2:24 pm

EOst wrote:That doesn't include students returning from study abroad, though, who are probably actually pretty likely to be looking for this kind of place.
Indeed, and there are several hundred a semester of those, though apparently spring is slightly more popular for semesters abroad than fall (makes sense if you're trying to avoid the worst of the winter).

While I imagine most leases for units around the U are on an academic year or 9 month basis, there is more turnover of tenants through sub-leasing. People fall out with their roommates, drop out of school etc ...

xandrex
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Re: (501 15th Avenue Southeast)

Postby xandrex » August 21st, 2014, 3:33 pm

I studied abroad in the fall of my senior year at the U and ended up finding a sublease in January, so I'm one such example.

That said, it's still a fairly small market compared to the September move-in rush. And the bigger issue is that it definitely gets you stuck with leases ending at a much slower time. A 12-month lease that starts in January is turned over...in January of the following year.

Sure, you can have them sign a 9-month lease to get you to September or something similar, but that's an extra complication that renters may be wary of. Landlords around here really want to be on the September schedule if at all possible. I kept the same landlord that I sublet from, but moved into a two bedroom as I needed to get a roommate. Its lease ran through the end of May, so to get it on schedule, the landlord gave me the 2-bedroom apartment for a 1-bedroom price through the whole summer before having me sign a new lease that ran September to August.

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Re: (501 15th Avenue Southeast)

Postby Wedgeguy » September 30th, 2014, 6:46 pm

They say that this project is now set to open in Jan 2015. I'd say they mean the refurbished older portion as the new construction does not look like it could be done by Christmas.

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Nick
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Re: (501 15th Avenue Southeast)

Postby Nick » October 5th, 2014, 6:14 pm

Image

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Nathan
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Re: (501 15th Avenue Southeast)

Postby Nathan » October 6th, 2014, 12:04 pm

Wow that's bigger than I thought it was going to be from the plan!

twincitizen
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Re: (501 15th Avenue Southeast)

Postby twincitizen » October 6th, 2014, 12:49 pm

I kinda want to tour this when it's all done. It's just so unique. It would be cool to hear from the developer the challenges they faced in design and construction.

P.S. Does anyone else share my love for balconies that employ a shared support column throughout the floors like that? Midtown Lofts (in Uptown) has them.

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Nathan
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Re: (501 15th Avenue Southeast)

Postby Nathan » October 6th, 2014, 12:54 pm

twincitizen wrote:I kinda want to tour this when it's all done. It's just so unique. It would be cool to hear from the developer the challenges they faced in design and construction.

P.S. Does anyone else share my love for balconies that employ a shared support column throughout the floors like that? Midtown Lofts (in Uptown) has them.
Do you love the Balconies on Elan II then? I do!

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FISHMANPET
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Re: (501 15th Avenue Southeast)

Postby FISHMANPET » October 6th, 2014, 1:07 pm

I like it. Looking at some of the buildings that have been going up, these balconies have to be really expensive to build. Every time you add a corner you're increasing the costs for pretty much all stages of finishing, and a lot of these projects put a balcony in a flat wall, adding 4 corners to deal with. So something is a way eliminate that extra cost (the other way being cantilevered balconies, but I think I like these better).

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Nick
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Re: Gould Apartments - 501 15th Ave SE

Postby Nick » February 8th, 2015, 5:31 pm

Hopefully named after Mike Gould

ImageP2080053 by streetsmn, on Flickr

ImageP2080052 by streetsmn, on Flickr

grant1simons2
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Re: Gould Apartments - 501 15th Ave SE

Postby grant1simons2 » February 8th, 2015, 5:34 pm

I actually really like the look of these. Skinnier and actually to scale for the area


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