The construction company released some new renderings of this a few days ago. Not huge changes, but it looks like we do see some value engineering going on. The other big change I see is that they've either moved the elevator tower - which you know see kind of looming over the center wing throwing off the aesthetics a bit - or they never included it in previous renderings from this angle. With all of the roof-top amenities, it was going to be difficult to work around it.
I didn't expect the east side of the building to have those angled wedges. I wonder why they did this as I would assume it costs more and definitely reduces square footage.
I don't understand what's going on there, either. Though, if it reduced the square footage, then it's not really a cost increase; it almost certainly was a cost decrease for a project like this. If they have to enclose less space thereby lowering the cost of the project, I imagine the price of the fins is significantly less than the floor space that would have otherwise been built, so they can afford that little architectural embellisment.
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.
EAST LANSING — Three weeks after leasing began, The Hub at East Lansing had already raised its prices twice.
Because it could. Demand had been that strong.
The 10-story student apartment building is still under construction on the eastern edge of downtown. It has just one exterior wall, but it's a stone's throw away from Michigan State University's campus. Students are already certain they want to live there.
Rental vacancies are also down in East Lansing from 8.4% in 2010 to 4.2% in 2016. I think when the 2020 Census figures come out, we're going to be quite surprised.
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.
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The construction company released some new renderings of this a few days ago. Not huge changes, but it looks like we do see some value engineering going on. The other big change I see is that they've either moved the elevator tower - which you know see kind of looming over the center wing throwing off the aesthetics a bit - or they never included it in previous renderings from this angle. With all of the roof-top amenities, it was going to be difficult to work around it.
In any case:
More at the link.
I don't understand what's going on there, either. Though, if it reduced the square footage, then it's not really a cost increase; it almost certainly was a cost decrease for a project like this. If they have to enclose less space thereby lowering the cost of the project, I imagine the price of the fins is significantly less than the floor space that would have otherwise been built, so they can afford that little architectural embellisment.
The rooftop amenities are dope. I hope this catches on.
Yeah, that's a great looking roof. I am very excited to learn whatever game that court is for.
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.
Check this out: https://www.lansingstatejournal.com/story/news/2018/10/25/apartments-east-lansing-bringing-change/1663412002/
Rental vacancies are also down in East Lansing from 8.4% in 2010 to 4.2% in 2016. I think when the 2020 Census figures come out, we're going to be quite surprised.
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/