Quote:
Originally Posted by Neuronix
It's sick to have a building sitting on prime real estate half empty because they set the rents way too high for the area just for the heck of it and don't allow any undergrads.
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Yeah, it's disheartening to see the building so empty. If it had been built with more 1BR apts that are easier to rent, it might be a different story regardless of what's demanded per month to live there. As for the setting of the rents, a lot of that is determined at the Hanover corporate headquarters in Houston, and based on what did rent well in the building is also how this increase was determined, and for what specific types of floor plans. (The place is about 70% rented now, not considering possible turnover of residents this summer, so that figure may go up or down.)
A few people under the age minimum have slipped in. How that happened--no clue. Well, duh, some parent was a guarantor of an place, but given how it's advertised how "strict" the age limit is it just made me say "uh, what?"
I'm one of the fortunate demographic who qualified to live in that building but I can sense a terrible value even if I'm not real-estate savvy. People's perception of "luxury" is going to differ as well, and while some of the appointments may be state-of-the-art, the overall construction of some of the appointments is pretty darn shoddy.
I just think all of this is pretty funny given the hype of this complex during its construction--and it seemed to look promising back in the day. I started following this thread last summer when I was moving to the area and well, now there's some assessment of a living experience there and I don't have any more to add to it here, as I think I've plenty said my piece. I will be interested though to see how this complex will fare 2, 3, even 5 years from now as people come and go.