Posted April 29, 200718 yr Prime oppurtunity for Downtown Living.... + Lyric Piano Building - Race st. + Rehabbing Dennison Hotel into Lofts + J Newberry bldg & Schwinn (Benihana's) on 6th + Christian Science Monitor across from JeanRo Lancaster Lofts - 7th st.
April 29, 200718 yr Well the Denison would either need to add more bathrooms or have fewer bedrooms if their 75 rooms 45 baths sign is acurate.
April 29, 200718 yr Like the Ft. Washington before it, Dennison inevitabley will convert. I'm disgusted by Cianciolo's new awning, the original had authenticity. I wish all those lots along 7th and 8th east of walnut would become new glass skinned residential towers and condos. It would be a nice mix- Sky blue glass + Ohio redbrick
April 29, 200718 yr So is this an actual project that is happening...or is it just your idea?? I agree this bldg will inevitably convert, but by who...and when is the question. As for the 7th and 8th street area where you were saying that it would be nice to see it fill in...I agree completely, but I would assume that most all market demand for downtown living will be taken up by the Gateway Quarter, The Banks and the other various projects currently on the table. If you see anything happen in this area of downtown in terms of new construction it will be the Broadway Tower at St. Xavier Place. I just can't see much else happening...hopefully I'm wrong.
April 30, 200718 yr The Lancaster is my original idea. Rando, I always thoought it would be nice if the block of parking lot bordered by power, St. Xavier place, X Church was turned into an actual St. Xavier Park! Al Neyer marketed his "neighborhood" as St Xavier Park - except there was no park...the strategy is similar to that of Gateway Quarter, creates buzz makes seem like a destination. Neyer just blew off the city with the tower! Eagle has been bullshitting council for years at 5th & Race...council should expire their contracts and replace them.
April 30, 200718 yr Rando, I always thoought it would be nice if the block of parking lot bordered by power, St. Xavier place, X Church was turned into an actual St. Xavier Park! Al Neyer marketed his "neighborhood" as St Xavier Park - except there was no park...the strategy is similar to that of Gateway Quarter, creates buzz makes seem like a destination. While that would be fantastic; don't expect to see it happen any time soon! St. X still owns and receives revenues from that parking lot...and much like a defunct landlord, St. X has about zero interest in the revival of that burgeoning neighborhood. What they do have an interest in is receiving a steady flow of money from that nice surface lot. However, the lot across from that (just north) would be a more likely candidate for something to happen. The investors in the Power Building said that if their project and St. Xavier Place were successful (and they are) that they would look into constructing a new residential tower on that lot. But like I said, I think the market is just about ready to become saturated and some people might start to become hesitant to propose new projects. Neyer just blew off the city with the tower! Eagle has been bullshitting council for years at 5th & Race...council should expire their contracts and replace them. That would be quite a bold move, but I don't think the city is in quite that good of a position (yet) to start offering ultimatums to developers. One day maybe, but right now we are starting to get are feet wet...lets not ruin a good thing that we've got going. Like I said...patience, you will start to see some nice closure on some of these projects that have been out there floating around.
April 30, 200718 yr the latter... "I don't think the city is in quite that good of a position (yet) to start offering ultimatums to developers. One day maybe, but right now we are starting to get are feet wet...lets not ruin a good thing that we've got going. Like I said...patience" - I think this passive sentiment prevents these projects from coming to fruition. Ya know, I've been hearing of this inevitable "market slowdown" for a couple years now...only to see the opposite actually happen!
April 30, 200718 yr ^Sorry to break it to you, but if you read the DCI State of Downtown reports you will see the trend occuring downtown. The absorption rate is starting to slow down; I can only imagine this will continue to happen with the influx of another 500-1000 units to the downtown market. I am hopeful that some of these projects (mainly The Banks) will create their own demand through their shear size and notoriety. But if that does not happen then The Banks will take a huge chunk out of downtown living demand.
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