Quote:
Originally Posted by smArTaLlone
I was actually hoping he would focus on a slightly higher density project. I think something with buildings in the 5-12 story range could be just as sucessful as GP with just as much character. |
Both Charles Brewer and Hedgewood (the actual builder of most of the buildings at GP) have looked into it, but it's nearly impossible for them to compete with the big boys given the high land costs. The market just can't support the higher price points it takes to do mid-rise and not be fomulaic. You'd have to achieve high $300+ sf price points without any of the amenities and lower parking ratios. That just won't fly in this market - even at the best of times.
I know that several of the more progressive developers have looked at 4 to 6 story buildings in places like Fairlie-Poplar, Terminus, or the Memorial Drive corridor, but land costs are now so high (and in the case of Memorial Drive, beyond what is feasible by zoning) that you have to do the Novare/Daniel model (which you won't be able to do as succesfully as either or them) or go somewhere else.