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re: The Odeon, tallest building constructed in NOLA in 3 decades, to open next month
Posted on 10/1/20 at 5:18 pm to Geauxld Finger
Posted on 10/1/20 at 5:18 pm to Geauxld Finger
quote:
Not sure who the frick they think is buying this shite. They are having enough problems selling out The Standard or whatever that the same developer owns.
These are for rent, not for sale.
0
Posted on 10/1/20 at 5:21 pm to yaboidarrell
quote:
Who the hell is buying all those Warehouse District condos?
A lot of second homes. You’ll be surprised by the amount of people from Houston to Mobile that own a condo in Nola. My parents live in BR and have a condo in the WHD, a majority of their condo neighbors are retirees that own primary homes in BR and Houston. Besides a few renters most of the condos stay empty 75% of the year.
Posted on 10/1/20 at 5:23 pm to brewhan davey
The prices seem reasonable to me
Posted on 10/1/20 at 5:50 pm to MrLSU
I had a place in downtown Houston for work that was 1br/1ba on the 14th floor a block over from minutemade.
Those prices are on par with a 2nd tier town. Problem is that probably 30-40% of the people there, myself included, had their companies footing the bill..... not sure if Nola has people coming in on a consistent basis for work to get those type of tenants.
Those prices are on par with a 2nd tier town. Problem is that probably 30-40% of the people there, myself included, had their companies footing the bill..... not sure if Nola has people coming in on a consistent basis for work to get those type of tenants.
Posted on 10/1/20 at 5:50 pm to ThePoo
quote:
I am sure it is mostly aimed at young professionals that want modern living in the CBD/WHD.
I'm a young professional working in the CBD. We don't make enough to justify paying that rent
Posted on 10/1/20 at 5:53 pm to brewhan davey
Great timing to be opening a massive building downtown!
Posted on 10/1/20 at 5:55 pm to Sneaky__Sally
quote:
Great timing to be opening a massive building downtown!
In fairness to the developer, construction started long before covid.
Posted on 10/1/20 at 5:56 pm to LSUtiger17
I can assure you many young professionals make the money to live there
Money goes a lot farther with no kids
You don’t need to be making 6 figures to afford these apartments if you’re single with no kids
Money goes a lot farther with no kids
You don’t need to be making 6 figures to afford these apartments if you’re single with no kids
Posted on 10/1/20 at 5:59 pm to ThePoo
quote:
I can assure you many young professionals make the money to live there
Money goes a lot farther with no kids
You don’t need to be making 6 figures to afford these apartments if you’re single with no kids
I disagree. In a major metro where young professionals start at $120-160k, sure. In NOLA, where you start at $75k-100k, I wouldn't want to pay $1700 plus parking for a 1br apartment. If you're talking exclusively doctors in that "young professionals" category, then sure.
Posted on 10/1/20 at 6:30 pm to LSUtiger17
Domain are one of the companies bidding to redevelop the wasteland opposite the convention center. Did a decent job with South Market so I wouldn't be opposed to them winning that either. DT needs more of these developments with modern retail, residential and office space. I can see the attraction for some, especially people in my age group (late 20s/early 30s) with no responsibilties and being close to the vibrancy of the nightlife, the stadiums, offices etc.
Posted on 10/1/20 at 6:34 pm to ronnie mo
quote:
Domain are one of the companies bidding to redevelop the wasteland opposite the convention center. Did a decent job with South Market so I wouldn't be opposed to them winning that either.
I’d be ok with this as well. They have done a great job of reviving an area that was, until recently, plagued by blighted properties and ugly surface parking lots.
Posted on 10/1/20 at 6:36 pm to brewhan davey
Haha ya I know - this building will be very telling in terms of what kind of long term impact we will see on Commercial Real Estate.
Posted on 10/1/20 at 6:37 pm to brewhan davey
Company Burger in the South Market District is one of the best burgers in the area IMO.
Posted on 10/1/20 at 6:37 pm to LSUtiger17
quote:
quote:
I can assure you many young professionals make the money to live there
Money goes a lot farther with no kids
You don’t need to be making 6 figures to afford these apartments if you’re single with no kids
I disagree. In a major metro where young professionals start at $120-160k, sure. In NOLA, where you start at $75k-100k, I wouldn't want to pay $1700 plus parking for a 1br apartment. If you're talking exclusively doctors in that "young professionals" category, then sure.
I feel like the young professionals in New Orleans pulling down $75k - $100k are few and far between.
Posted on 10/1/20 at 6:38 pm to brewhan davey
Same shite, different day. This trend is sweeping through the South now. Been going on in Austin, Houston, and now SA. I’m sure it’s happening to an extent in Atlanta, Nashville, and elsewhere. I have no idea why people would spend:
I mean, if you have money and want to have a closet as your New Orleans getaway, more power to you. Austinites in downtown seem to enjoy it.
I can get a 2500 square foot house where I live and have a mortgage for about that price. I don’t know much about the NO area’s housing market, but this just seems like a way for a rich person to waste some money.
quote:
389 sq ft Studio/1BA $1335-$1425/mo
I mean, if you have money and want to have a closet as your New Orleans getaway, more power to you. Austinites in downtown seem to enjoy it.
I can get a 2500 square foot house where I live and have a mortgage for about that price. I don’t know much about the NO area’s housing market, but this just seems like a way for a rich person to waste some money.
Posted on 10/1/20 at 6:39 pm to LSUtiger17
I can tell you from past firsthand experience that you don’t need six figures if youre single with no kids to afford these places
You can easily dispose of half your yearly income on a place to live if you don’t have a big car note or kids. Great investment? No, but certainly doable
You can easily dispose of half your yearly income on a place to live if you don’t have a big car note or kids. Great investment? No, but certainly doable
This post was edited on 10/1/20 at 6:44 pm
Posted on 10/1/20 at 6:41 pm to brewhan davey
quote:All that stuff and only 200 parking spaces? Can someone more familiar with the location let me know if there's other parking around there? That seems extremely shortsighted.
features 271 studio, one-bedroom, and two-bedroom market-rate units, 200 parking spaces and 12,000 square feet of retail space. There are 30,000 square feet of amenities such as a pool deck and outdoor lounge with fenced dog run, furnished guest suites, a fitness center and an art collection
Posted on 10/1/20 at 6:43 pm to saint tiger225
There is a premium parking garage by the rouses that has vacancies
Posted on 10/1/20 at 6:44 pm to TexasTiger08
quote:
I can get a 2500 square foot house where I live and have a mortgage for about that price. I don’t know much about the NO area’s housing market, but this just seems like a way for a rich person to waste some money.
If you are in the market for a starter home (3BR/2+BA), it makes more sense to buy. The amount you pay for your monthly note, insurance, taxes, and utilities ends up being just a little more than the average rental (of course, fewer bedrooms/baths). It got to a point where me and my wife broke down our yearly expenditures on rent, and told ourselves, we might as well put money into some equity if we can afford it.
This post was edited on 10/1/20 at 6:45 pm
Posted on 10/1/20 at 6:45 pm to ThePoo
quote:
You can easily dispose of half your yearly income on a place to live if you don’t have a big car note or kids. Great investment? No, but certainly doable
Exactly. I don’t think many of the yuppies buying this stuff get overly concerned about retirement, diversifying an investment portfolio, etc.
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