The new website is up! Check out the views! LSJ announced the Council approved the sale of the ramp in Tuesday's [DEC 11] paper. LSJ Article Here: http://www.lsj.com/apps/pbcs.dll/article?AID=/20071211/NEWS01/712110314/1001/news
You can see the views and how this Renaissance Zone works. www.capitolclubtower.com
I think all of us here would like to see the 20 story version, but with the economy right now I think Lansing is lucky to be getting a 12 story condo tower along with all the other development going on or planned.
Fortunate sure, I wouldn't use the word lucky. There's a market in the city for higher end urban living as evidenced by the great success the other lofts and condos are seeing filling up.
I keep hearing about 'the economy' but frankly, outside of the housing market on existing homes (nationwide) where is the problem with the economy? New residential inside and outside of the city is increasing, GM is having great success with the Lansing built 2008 CTS, the UAW has a secure contract for the next few years.
The UAW Local 5000 (State workers) have agreed in principle on a new contract offering a 4% increase in wages over the next 3 years.
Personally, my 401k is up 51% so far in 2007.
Maybe I'm wrong but this boogeyman called 'this economy' seems to be some kind of default place to lay blame unnecesarrily.
On the economy, we do still have some issues with losing lower-end manufacturing jobs and even some good auto jobs (as evidenced by the on-again-off-again third shift out at GM's Delta plant that will eventually cost several thousand people jobs by early next year at the automaker and its suppliers). And with state government still facing budget issues into the foreseeable future, that all has an impact on consumer confidence and the local economy.
As for the economy, I know it's bad, but I think that Lansing will weather any reccession quite well. We have a diverse economy and a strong demand for downtown housing.
I really like a lot of the things I see with this project. It is going to have a really nice dining level, fitness center and pool. And they have already taken some 50 preliminary deposits on units. This project keeps suprising me, over and over. I can't wait to see more renderings, and most importantly how tall it ends up being, it sounds like the developers are really hoping that theres enough demand for a taller tower.
And if I was in any kind of position to buy a place I would almost definately be trying to get in here. In fact, if there are no more high rise condos built in Lansing over the next five or so years I'll probably end up in this building.
Also, I forgot to mention that LSJ article talked about the possibility of a $1 million+ penthouse unit(s). That would be a HUGE boost of confidence in the downtown housing market.
Comments
You can see the views and how this Renaissance Zone works. www.capitolclubtower.com
I'm still wishing for the 20 story version.
I keep hearing about 'the economy' but frankly, outside of the housing market on existing homes (nationwide) where is the problem with the economy? New residential inside and outside of the city is increasing, GM is having great success with the Lansing built 2008 CTS, the UAW has a secure contract for the next few years.
The UAW Local 5000 (State workers) have agreed in principle on a new contract offering a 4% increase in wages over the next 3 years.
Personally, my 401k is up 51% so far in 2007.
Maybe I'm wrong but this boogeyman called 'this economy' seems to be some kind of default place to lay blame unnecesarrily.
I really like a lot of the things I see with this project. It is going to have a really nice dining level, fitness center and pool. And they have already taken some 50 preliminary deposits on units. This project keeps suprising me, over and over. I can't wait to see more renderings, and most importantly how tall it ends up being, it sounds like the developers are really hoping that theres enough demand for a taller tower.
If I knew I could move my house easily, I'd really consider buying in.
Also, I forgot to mention that LSJ article talked about the possibility of a $1 million+ penthouse unit(s). That would be a HUGE boost of confidence in the downtown housing market.