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Dirt Lot 0'
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  1. The Flats are growing, that new apartment building can’t come soon enough.
  2. Nobody wants to go there anymore because it’s too crowded.
  3. Parking garages used to be lamely designed structures, but that has changed. Three examples of fun parking structures can now be found in Hollywood Beach, Fort Lauderdale Beach as well as Pompano Beach. They incorporate retail components, green roofs, LED light designs/structures/animations, free bicycle lockers, mini-plazas and the one in Hollywood Beach even has racquetball courts and a fountain. I'm sure there are many more examples of how these structures are now more than just a car-holding venue. https://www.sun-sentinel.com/local/broward/fort-lauderdale/fl-fort-lauderdale-beach-parking-garage-cost-20170211-story.html
  4. Since I don't have sources in Cleveland like you do I only have to go with my friends in other cities (Nashville, Fort Lauderdale, Chicago, New York, Denver) who know people who own garages and make a bundle on them. So maybe it isn't lucrative in Cleveland, but it is lucrative in many other cities.
  5. I'd love to see your sources for these two items you state as facts. The prices on any parking lot can't go down further than the minimum tax the city applies to it plus a reasonable profit for the owner.
  6. Here are just a few reasons in no particular order of "strength" as they are all likely interlaced: - This tower has a massive built-in advantage over others: location, location, location. It is the only one that is steps away from the most highly visited venues in town as well as from the E4th entertainment district, the casino and Gateway District amenities. As such, you can still charge a premium for your spots while the others will be at a disadvantage during most days of the year. - A tower gives the user protection from the weather, that a parking lot does not. All else being equal, the user would rather be in a tower than a lot. - The margins in parking lots are so incredible, that if you did dilute by 10% or even 20% you still are raking in millions a year. - Once you've reached your ROI for construction, which you likely will within 20-24 months, the parking tower is an eternal revenue/profit generator even if the margins get a bit diluted. - Rental income from the retail venues in the first floor will act as a subsidy for any diluted margins - Rented spots from the users of the offices in the floors above will act as a subsidy for any diluted margins - Income from rented apartments and their many additional rented spots in the floor above will act as a subsidy for any diluted margins - Visitors to the offices or apartments from the floors above generate a built-in revenue stream that other parking lots/towers do not have - The proposal is "under-parked" per city requirements. As such, an assumption can easily be made that it does make economic sense to pursue a larger parking offering.
  7. I agree. I despise, parking towers (and I'm a true believer that in 7-10 years when many vehicles will finally become autonomous, they will become outdated and useless), but surface parking lots are even worse. For me, I would rather that this parking tower have 2,500 (heck, lets go for 5,000) parking spots as I think it would present massive competition to the surface lots and maybe eliminate some of the financial advantages of keeping them as lots instead of mixed-use towers. Also, the more people park at nuCLEus as opposed to across the Innerbelt (near the post office) or down in the Flats (old Tower City Ampitheater) or towards the area near Prospect and 14th, the more people will pour into the businesses in the E4th/Gateway area before/after sporting events/concerts/etc.
  8. That building, ICON Las Olas, actually has a second “dipping” pool on its rooftop. And you’ll rarely see anyone use the pool in your photos, because by midday every day the sun is blocked by the tower itself which means the water will be cold and you can’t even catch any good tanning rays. https://iconlasolasfl.com/distinctions/
  9. This isn’t even truly lakefront property. It’s completely blocked off by Burke...
  10. Channel 19 has it wrong, this is not the "first". For many, many years there was a Dunkin' Donuts on Euclid Avenue in one of the Arcades. I think it is currently the Yum Yum's space on 512 Euclid. If you look at it closely it still maintains most of the Dunkin' Donuts look/layout. Having said that, this new place looks to be a "full-service" location which is certainly welcome in the area.
  11. Pretty cool website. So if you build a bunch of $400,000 townhouses on spec in Duck Island and they sell in a matter of weeks, what do we think would be the market's response to development just down the hill on Scranton Peninsula? Sorry -- had to ask after seeing that website's slideshow where Scranton Peninsula dominates as this wasteland in the foreground, between Duck Island and downtown. Looks like you will get your answer.
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