Nic on Fifth - (290' - 26 Stories)

Downtown - North Loop - Mill District - Elliot Park - Loring Park
amiller92
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Re: Nic on Fifth - (290' - 26 Stories)

Postby amiller92 » November 17th, 2017, 9:15 am

Yeah, I'm told it's offices on the second floor.. Maybe a title company or something.

Also, the parking in the building is weirdly empty. I don't know if that's because tenants don't have as many cars as anticipated or if the building just isn't that full.

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Silophant
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Re: Nic on Fifth - (290' - 26 Stories)

Postby Silophant » November 17th, 2017, 9:35 am

What's strange to me about the parking is that Opus saw that it wasn't filling up and went ahead and built just as much in 365 Nicollet.

alexschief
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Re: Nic on Fifth - (290' - 26 Stories)

Postby alexschief » November 17th, 2017, 9:45 am

Silophant wrote:
November 17th, 2017, 9:35 am
What's strange to me about the parking is that Opus saw that it wasn't filling up and went ahead and built just as much in 365 Nicollet.
[thinking face emoji]

SurlyLHT
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Re: Nic on Fifth - (290' - 26 Stories)

Postby SurlyLHT » November 17th, 2017, 10:31 am

amiller92 wrote:
November 17th, 2017, 9:15 am
Yeah, I'm told it's offices on the second floor.. Maybe a title company or something.

Also, the parking in the building is weirdly empty. I don't know if that's because tenants don't have as many cars as anticipated or if the building just isn't that full.
Is this overall or an observation? I suspect the ramp will be empty during the day and full at night when the residents are home.

amiller92
Wells Fargo Center
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Re: Nic on Fifth - (290' - 26 Stories)

Postby amiller92 » November 17th, 2017, 11:51 am

I was in it Wednesday night around 5 and again around 9:30. Maybe half full? Maybe less.

Which is consistent with other times I've been there on evenings and weekends.

MattW
Union Depot
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Re: Nic on Fifth - (290' - 26 Stories)

Postby MattW » November 17th, 2017, 12:16 pm

But imagine the pandemonium that will occur when the 500 year flood *DOES* happen and the ramp is full. Suburbanites might swear off the city forever!

SurlyLHT
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Re: Nic on Fifth - (290' - 26 Stories)

Postby SurlyLHT » November 17th, 2017, 2:24 pm

What it very well could be is that a number of the units aren't homesteaded and are owned by the airlines or corporations who use them for employees who are in town. Especially since the building is right off the LRT from the airport. Likewise if you flew in to do some work in Mpls for a week or two and leave you won't have a car. I also suspect some units may be owned by persons who live in the far SW Metro and want a place to go to when working long hours without the commute.

amiller92
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Re: Nic on Fifth - (290' - 26 Stories)

Postby amiller92 » November 17th, 2017, 3:24 pm

These are apartments, not condos.

Airlines do not rent apartments for crew. And if they did, these are among the most expensive available apartments, which wouldn't be what they are going for. My airline crew contacts are local, so I don't know for sure where crew is typically put up here (which would vary by airline), but I'd put a strong wager on the hotels by the airport and the MOA, rather than downtown. Regardless, not at the Nic.

It's possible there are some corporate units there, but it can't be many. I don't know who would have constant demand or for that matter want to independently maintain an apartment when they could use a hotel and it's cleaning staff.

No doubt that some of the units are rented as second homes, but I wonder how many. Regardless, that's just a different form of less demand of parking than planned.

Seems more likely that the people who live there have fewer cars than expected and/or it's not the full. If it's website is reliable, it's got 20 units available.

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Sacrelicio
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Re: Nic on Fifth - (290' - 26 Stories)

Postby Sacrelicio » November 17th, 2017, 3:40 pm

SurlyLHT wrote:
November 17th, 2017, 10:31 am
amiller92 wrote:
November 17th, 2017, 9:15 am
Yeah, I'm told it's offices on the second floor.. Maybe a title company or something.

Also, the parking in the building is weirdly empty. I don't know if that's because tenants don't have as many cars as anticipated or if the building just isn't that full.
Is this overall or an observation? I suspect the ramp will be empty during the day and full at night when the residents are home.
Live downtown, but still drive everywhere...seems a little backward, even thought that did seem to be the idea that developers had.

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Silophant
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Re: Nic on Fifth - (290' - 26 Stories)

Postby Silophant » November 17th, 2017, 4:10 pm

amiller92 wrote:
November 17th, 2017, 3:24 pm
It's possible there are some corporate units there, but it can't be many. I don't know who would have constant demand or for that matter want to independently maintain an apartment when they could use a hotel and it's cleaning staff.
For comparison, my building, which is a lot cheaper than the Nic, has three corporate units. So there's maybe a couple at the Nic, but not many.

intercomnut
Rice Park
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Re: Nic on Fifth - (290' - 26 Stories)

Postby intercomnut » November 17th, 2017, 10:36 pm

The parking you can see from the skyway is contract parking. The resident parking is on levels 3-5 and isn’t accessible to non-residents. So maybe it’s that there aren’t very many contract parkers?

amiller92
Wells Fargo Center
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Re: Nic on Fifth - (290' - 26 Stories)

Postby amiller92 » November 20th, 2017, 10:26 am

It's both. My observations last week involved driving down from the 5th level. They also include the residents' agreement that the parking isn't very full.

But contract parking would be more full during the day, I'd assume.

LakeCharles
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Re: Nic on Fifth - (290' - 26 Stories)

Postby LakeCharles » November 21st, 2017, 8:50 am

amiller92 wrote:
November 17th, 2017, 9:15 am
Yeah, I'm told it's offices on the second floor.. Maybe a title company or something.
You were spot on. It is a title company.

Biggydrink
Block E
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Re: Nic on Fifth - (290' - 26 Stories)

Postby Biggydrink » November 21st, 2017, 2:35 pm

Makes sense that since it's directly on the LRT line that people don't use cars as much, right?


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