Riverite wrote: ↑Mon Jul 19, 2021 2:24 pm
Is copaken open to another high rise in the crossroads once this is leased up?
I don't think they own anything else in the Crossroads, so probably not. Remember that Arterrra was reconstituted from a pre-recession (condo?) project. Do you think they would pay current Crossroads land prices for another multifamily or office project? Perhaps they would if they had an investor or partner like Reverb (Burns & Mac) or Corrigan (3D).
We really should focus on getting Price Bros. to develop that vacant lot at 19th & Grand, which they apparently paid $132 psf for -- a new Crossroads record.
That’s around what the land for the Hampton Inn went for. Copaken’s partner in Arterra, Altus, is reportedly disappointed in the project/market.
Price Brothers had a large development plan described in one of 3D’s brochures.
Riverite wrote: ↑Mon Jul 19, 2021 2:24 pm
Is copaken open to another high rise in the crossroads once this is leased up?
I don't think they own anything else in the Crossroads, so probably not. Remember that Arterrra was reconstituted from a pre-recession (condo?) project. Do you think they would pay current Crossroads land prices for another multifamily or office project? Perhaps they would if they had an investor or partner like Reverb (Burns & Mac) or Corrigan (3D).
We really should focus on getting Price Bros. to develop that vacant lot at 19th & Grand, which they apparently paid $132 psf for -- a new Crossroads record.
They own that one new garage designed for vertical construction above it
90% leased. Took a long time and alot of concessions.
At least it showed it could be done, and it isn’t impossible to have few amenities attached. Within the next 5 years I imagine we’ll start to see a few more of these types pop up
90% leased. Took a long time and alot of concessions.
At least it showed it could be done, and it isn’t impossible to have few amenities attached. Within the next 5 years I imagine we’ll start to see a few more of these types pop up
Not with incentives going away. This project filled up because they lowered effective rent.
Chris Stritzel wrote: ↑Mon Nov 22, 2021 4:42 pm
Honestly, I didn’t think it would get to this percentage so quickly, if ever. Shows there’s demand for more buildings of similar scale.
They gave a lot away. When I reached out to them when they were starting to lease, their offer was waived application fee.
I know they eventually went to two months off, and I think they adjusted rent prices as well.
Covid and a lot of places opening at once didn’t help, but I would be surprised if copaken runs down this road again soon.
90% leased. Took a long time and alot of concessions.
9 open. 93% leased
10 units available according to their website. They're offering one free month free if you sign a 13-month lease. I'm still surprised that it got to this percentage and, as I said a few posts back, it proves that there is still demand for buildings of this scale, but I'll also add price point.