lockmat Posted February 12, 2011 Share Posted February 12, 2011 They said the same thing about Washington. Nothing there but shacks and tracks. All it had going for it was location. Almeda is on "the good side of the tracks", actually the freeway, and is surrounded by money and development. The street is wide and there's really not a "destination" blvd for drinks and eatums anywhere nearby. So, I think that is the standard idea as to why it could become something one day. The only thing is that Washington evolved naturally with the townhouses coming first, then the retail. Almeda doesn't have a bunch of teardowns in the area allowing townhouses to get built en masse like the Wash area, so that would mean more expensive residential projects, which are far less likely to just start sprouting up in clusters. However, the pattern of retail development doesn't have to be the same for Almeda. They can start by attracting the Med Center-Museum crowd and add the condo towers down the road. So there, rich developers. We've done all the figuring out for you, now just get to work! I guess with it being so close to "sophistication," the med center, park and museums, that's why I couldn't see it happening. But I guess anything is possible. 1 Quote Link to comment Share on other sites More sharing options...
TheNiche Posted February 12, 2011 Share Posted February 12, 2011 I see. Thanks for the detailed understanding. My version of "correct vision" is one of a layman, a dreamer, taking into account the area's potential, the views, the park, Med Center and the striking architecture. Apparently it sounds as if the professionals involved's collective vision was about as pie-in-the-sky "good sense" as mine. So we are left with a couple of new towers, all by there lonesome in a part of town that is showing signs of waking from the dead and reincarnating as something entirely different. The value in these units could then rise as well and the towers become what they were originally envisioned as, just 10-20 years later. Mosaic and Montage will stabilize, eventually. Even then, however, 792 units really isn't that many in the grand scheme of a community. There are many times that number already existing within a mile of there; not to mention many tens of thousands of jobs. Also, on account of that the ratio of improvements to land value is so horribly askew, on account of that there is still so much developable land, and on account of that improvements depreciate (the same as a car)...no, the condo values are destined to fall. Look at 2016 Main. You can buy a well-located highrise condo for really not very much money; but you end up paying more toward maintenance fees than toward the mortgage. Quote Link to comment Share on other sites More sharing options...
asubrt Posted February 24, 2011 Share Posted February 24, 2011 Sort of a rehash of things already said here, but worth posting nonetheless...http://www.chron.com/disp/story.mpl/business/7441654.html 1 Quote Link to comment Share on other sites More sharing options...
lockmat Posted May 26, 2013 Share Posted May 26, 2013 Does anyone know if the retail has been filled or if there's anything there at all? Just curious Quote Link to comment Share on other sites More sharing options...
JLWM8609 Posted May 26, 2013 Share Posted May 26, 2013 Does anyone know if the retail has been filled or if there's anything there at all? Just curious I think there's a small grocery store there. 1 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted February 18 Share Posted February 18 Took this photo today of the Hanover Hermann Park complex. 1 Quote Link to comment Share on other sites More sharing options...
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