Looks like a basketball court except they put a cutout of the state on the wall instead of a backboard. The high fences also lead to the basketball court. But the other circles could get confusing.
The other key figure to track is the $/sqft that these rentals are getting. $2 is the magic rate that building really starts to take off [1]. The article regarding The Hub mentions $1,100/300 square feet which is at $3.67/sqft. As long as we see rents above $2/sqft we'll keep getting more proposals. I think the trick with downtown East Lansing is getting the average above $2/sqft when senior housing is included.
Also, a minor edit for my last post in this thread: My math there assumed a 12-month lease, but if buildings are targeted towards students then the developer may be budgeting for 9-month leases (12-month leases would be a bonus this way). That being said, this sets the leases to $2.75/sqft, still above the $2/sqft magic rate.
I agree it's confusing. To embed an image from another site, use the [<>] button. This should also work for link previews but they disappear for me upon posting. Highlighting some text then clicking on the Link button that pops up works for me.
I'll probably end up switching back to Markdown if I can't fix these issues.
Georgio's Pizza is now open, after closing for 2 years for construction of The Hub and then delaying their opening due to covid-19. This now means that the Hub has all storefronts occupied (the other being 7-11 which has been open for some time).
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Looks like a basketball court except they put a cutout of the state on the wall instead of a backboard. The high fences also lead to the basketball court. But the other circles could get confusing.
The court reminds me of the Pigalle court in Paris, https://www.dezeen.com/2015/08/12/pigalle-duperre-ill-studio-paris-basketball-court-multicoloured-installation/
Yeah, but there are 9 basketball hoops! I'd like to think of it as some sort of 21st century amalgam of Ulama and Quidditch.
I was impressed by that 4.2% figure, all of this building starts to make sense!
The other key figure to track is the $/sqft that these rentals are getting. $2 is the magic rate that building really starts to take off [1]. The article regarding The Hub mentions $1,100/300 square feet which is at $3.67/sqft. As long as we see rents above $2/sqft we'll keep getting more proposals. I think the trick with downtown East Lansing is getting the average above $2/sqft when senior housing is included.
[1] https://www.friedmanrealestate.com/news/downtown-detroits-rent-market-nears-magic-number-2-per-square-foot/
The 4th floor of the building has now been poured and the interior walls have been roughed in. Work is beginning on the 5th floor interior walls.
EastLansingBuzz posted an update and included a picture,
https://www.eastlansingbuzz.org/single-post/2018/11/16/Construction-Update-11-16-18
Also, a minor edit for my last post in this thread: My math there assumed a 12-month lease, but if buildings are targeted towards students then the developer may be budgeting for 9-month leases (12-month leases would be a bonus this way). That being said, this sets the leases to $2.75/sqft, still above the $2/sqft magic rate.
Move-in was delayed at Hub apartments until building got city approval Wednesday afternoon
Move-in was delayed at Hub apartments until building got city approval Wednesday afternoon
https://www.lansingstatejournal.com/story/news/2019/08/21/move-was-delayed-over-inspection-problems-hub-apts-near-msu/2073072001/I agree it's confusing. To embed an image from another site, use the [<>] button. This should also work for link previews but they disappear for me upon posting. Highlighting some text then clicking on the Link button that pops up works for me.
I'll probably end up switching back to Markdown if I can't fix these issues.
Georgio's Pizza is now open, after closing for 2 years for construction of The Hub and then delaying their opening due to covid-19. This now means that the Hub has all storefronts occupied (the other being 7-11 which has been open for some time).
ELI reporting: https://eastlansinginfo.news/after-two-years-georgios-gourmet-pizza-is-back-on-grand-river-avenue/