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Cincinnati: Downtown: The Blonde (Eighth & Main)

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Good thing this building is almost complete and presumably had many presales.  The sudden 2020 financial crisis is the exact reason why banks tightened up condo lending after the 08-09 meltdown. 

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9 minutes ago, jmecklenborg said:

Good thing this building is almost complete and presumably had many presales.  The sudden 2020 financial crisis is the exact reason why banks tightened up condo lending after the 08-09 meltdown. 

It's not condos though, it's rental apartments. That's how this project got off the ground.

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4 minutes ago, savadams13 said:

It's not condos though, it's rental apartments. That's how this project got off the ground.

 

I have to eat my hat.  I forgot that this switched from condos to apartments. 

 

That's good news as it makes it even more likely that it will be completed on time, or almost on time.  However it's not going to be occupied as quickly as if none of this excitement had happened, which slows down the developer's aim to sell a fully-occupied building to a buy-and-hold outfit. 

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^ I talked to another local developer recently (not affiliated with the project in any way) and he predicted most of the units will be rented out by people who flip them into AirBNBs.

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20 minutes ago, taestell said:

^ I talked to another local developer recently (not affiliated with the project in any way) and he predicted most of the units will be rented out by people who flip them into AirBNBs.

 

Leisure travel is going to be way down for at least a year, so good luck with no-IPO-for-you Airbnb.

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9 hours ago, taestell said:

^ I talked to another local developer recently (not affiliated with the project in any way) and he predicted most of the units will be rented out by people who flip them into AirBNBs.

 

Does North American Properties allow that in their other buildings?

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9 hours ago, taestell said:

^ I talked to another local developer recently (not affiliated with the project in any way) and he predicted most of the units will be rented out by people who flip them into AirBNBs.

 

Eh. A decent number of people will do this, but I doubt MOST. That would be a lot of AirBnBs in one spot. I've seen data on this, and even in superstar cities having 10% of units in one building be AirBnBs is considered very high.

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6 minutes ago, taestell said:

 

I like a lot about this building... but man, I'd be embarrassed to say "I live at The Blonde". Maybe I'm just not the intended audience. 

 

 

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11 minutes ago, taestell said:

Phase II should be called the Brunette or the Redhead!

  • Haha 1

“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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3 minutes ago, jwulsin said:

 

I like a lot about this building... but man, I'd be embarrassed to say "I live at The Blonde". Maybe I'm just not the intended audience. 

 

 

 

Don't glue a quarter to the bottom of the pool or she'll drown!

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54 minutes ago, jwulsin said:

 

I like a lot about this building... but man, I'd be embarrassed to say "I live at The Blonde". Maybe I'm just not the intended audience. 

 

 

Hate the name, all I can think about is dumb blonde jokes. If it gets a bad reputation, I can only imagine the jokes coming from the building. 

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I imagine this will do well as long as recovery is on par with the pace of the Great Recession.  It's targeted at young people working downtown, and I wouldn't expect them to flee the basin like the empty-nester demographic that the rest of the new apartment builds go after.  It's certainly an apartment I would put at the top of my list if I was single and working downtown.

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