Skip to Content

Click here to visit the new home of Luxist!

Hot on StyleList:

 

condominiums

Limit Not Quite the Sky for Boston Luxury Building

by Tom Johansmeyer (RSS feed) —

Filed under: Real Estate Developments

Controversial Boston real estate developer Don Chiofaro is running into resistance. His plan to raise what would be two of the city's largest towers has been the subject of ire for local residence who would hate to see their views obstructed and other do-gooders who don't want to sacrifice the character of the waterfront.

In his latest round of battle, Chiofaro heard criticism that the two buildings would simply be too large for Boston. Currently, the city's tallest building is the Hancock Tower, totaling 61 stories. It's followed by the Prudential building and Chiofaro's One International Place (Two International Place is not as high).

In an unusual show of restraint, the developer has not called his opponents "pirates."

Proponents are excited not only by the prospect of 860,000 square feet of office space, a hotel and 100 condo units but also the likely 4,000 construction jobs that would result from the $900 million project.

Even if he makes it past the locals, one problem remains: money. Boston Mayor Tom Menino, who hasn't been terribly sympathetic with Chiofaro in the past, has said that he'll require that the builder prove he has the financing lined up ... if the project gets that far. Five years ago, Chiofaro almost lost his crown jewel, International Place, when Tischman Speyer (the "gang of pirates" from New York) tried to foreclose.

This fight is far from over, but I wouldn't make plans to move into those new units yet. This could take a while.


Source

Tags: boston, condo, condominium, condominiums, condos, massachusetts, real estate, RealEstate

Philadelphia Tries For A Record With $30 Million Penthouse

by Deidre Woollard (RSS feed) —

Filed under: Estates, Real Estate Developments

Can a $30 million condominium sell in Philadelphia? If so, Two Liberty Place is probably the place to try it. Back in March, a buyer spent $7.678 million for a unit on the 46th floor of the Residences at Two Liberty Place and the purchase set a record as the highest price ever paid for a Philadelphia condominium. At that time the top unit for sale was the $15 million penthouse for sale on the 57th floor and there was a rumor that a businessman might buy both and create a duplex. It looks like that deal didn't happen but someone must have thought that it was a good idea because there is now a listing for the 56th and 57th floor duplex. The $30 million listing indicates that the new owner can customize the 16,000 square-foot space with the architects and designers of his or her choice. Other residents at Two Liberty include millionaire and former Philadelphia mayoral candidate Tom Knox, Bon Jovi's Richie Sambora and Phillies pitcher Cole Hamels. The building offers luxurious amentities including concierge service and the owner's club.

Two Liberty has fared far better than other projects in Philadephia. Many luxury projects in the area have been put on hold or canceled altogether. But $30 million still seems a bit of a stretch in this economy for a city that hasn't even cracked the $10 millioon mark on condo prices yet.

Gallery: The Duplex at Two Liberty


Source

Tags: condominiums, philadelphia, real estate, RealEstate, two liberty, TwoLiberty

Work Stops On Major Calgary Condo Tower

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


A year ago the Calgary condo market was booming but now one of the major residential condominium projects has been put on hold as the developer seeks bankruptcy protection. Calgary developer John Torode told the Calgary Herald that work has stopped on the second tower of the Arriva condo project. A limited partnership which is the owner of that site has been put into the CCAA (Companies' Creditors Arrangement Act) which is a federal act that allows financially troubled corporations to restructure their affairs. The project is seeking new financing.

The first Arriva tower is 34 stories and is close to sold out. The second tower is 42 stories and about 60 percent sold. The third tower, which was going to be more condos will now be a hotel.

This isn't the first condo project to be stopped in the area. The City of Calgary is monitoring nine condo projects halted due to the economy. The Calgary Real Estate Review blog has an excellent post rounding up projects that have been postponed, scaled back or scrapped.It's a long list and one that may grow as condo prices also are falling in the area.

Source

Tags: arriva, calgary, condominiums, condos

Is Asheville Ready For $2 Million Green Condos?

by Deidre Woollard (RSS feed) —

Filed under: Green, Real Estate Developments


Asheville, North Carolina isn't the place I would expect to find $2 million condos but a local developer is hoping that they can find ten green-minded buyers to make the 73 North Street project a reality. The project is built on a small lot and includes a photovoltaic array on the roof and a garage that will only fit Smart cars (a Smart car comes with each unit).

The first floor of the building will have a small commercial space and the second will include an exercise room and spa and a guest room for visitors of building residents. The building's roof would be home to a lounge and garden. The building is planning for LEED certification and will include green features such as a water collection system, water-conserving fixtures, high-efficiency appliances and automated lighting and shading systems.

The building's units will sell for $2.1 million to $2.6 million and each would be about 2,300 square feet and take up an entire floor. According to an article in the Citizen-Times, the project won't go forward unless six of the units are sold in advance. Right now you can buy a large house with an acre or two of land for about that price in the Asheville area so the developers have an uphill climb ahead of them.

Source

Tags: asheville, condominiums, condos, green, leed, north carolina, NorthCarolina, real estate, RealEstate

Ohio Condominium Project In Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The condominium development situation in Cincinnati Ohio area has been up and down over the past few years. There was a flurry of projects announced in 2005 but since then many projects have struggled either delaying construction or scaling back. Now a 13-story condo tower, Overlook at Eden Park is headed for foreclosure. According to Cincinnati.com the developer, Joshua One says the lender is to blame for the unraveling of the project. Bank of America has claimed that Joshua One Development mismanaged the construction budget leading to delays and unpaid bills. Since last April a variety of liens have been filed against the development. Just six of the 24 condos have been sold and listing prices range from $500,000 to $3 million. The developer is still working on a way to avoid foreclosure.

Gallery: Towers in Trouble

Waterview TowerPhoenix CityScape Scaled BackHoustonCityCenterSoleil Center Scaled Back

Source

Tags: cincinnati, condominiums, condos, overlook at eden park, OverlookAtEdenPark

Milwaukee's Hotel Palomar Project Scrapped

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

hotel palomar
A $150 million hotel and condominium project planned for Milwaukee, Wisconsin has become the latest victim of the down economy. Gatehouse Capital Corp. has decided not to proceed with the Palomar Hotel and Residences. The project called for 66 luxury condos and a 175-room Kimpton Palomar Hotel located in downtown Milwaukee's Park East area on a country-owned parcel of land. Last November, as the Milwaukee Journal-Sentinel reports, the County Board voted to extend Gatehouse's purchase option to November 2009 to accommodate a delay in construction. The project was originally supposed to begin construction last year but was then put off to 2010.

Gallery: Towers in Trouble

Waterview TowerPhoenix CityScape Scaled BackHoustonCityCenterSoleil Center Scaled Back

Source

Tags: condominiums, hotel palomar, HotelPalomar, milwaukee

Continue reading “Milwaukee's Hotel Palomar Project Scrapped”

Houston Building Projects Suffer In Credit Crunch

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


Just about every city is facing a building challenge these days. The Houston Chronicle recently rounded up a bunch of commercial real estate projects that have either been delayed or put on hold in the past six months. Part of the problem is finding financing. Banks are no longer willing to make big construction loans in this uncertain market, consumers are less likely to buy condos that they see are being riskier investments and it is harder for many to get mortgage approval. For Houston part of the problem is also the falling oil prices. Several of the developments that have been scrapped or delayed are luxury residential buildings as shown in the gallery below.

Gallery: Houston Building Projects

1717 BissonnetHanover Tower Turnberry Tower High Street The Titan

Source

Tags: building, condominiums, condos, houston, real estate development, RealEstateDevelopment

The Big Price Drop At Aria At Park Shore

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Condos prices in Florida have been falling for the last few years but the luxurious area of Park Shore beach in Naples has been one spot that hasn't been as deeply discounted. Now that's changing as multimillion dollar condos like the Aria on Park Shore are selling for hundreds of thousands of dollars less than their listing prices. The Naples Daily News reports that the overall median sales price in the Naples area has declined 25 percent this year but most of that activity has been taking place on the lower end of the market. It's only been recently that the luxury condos have been seeing the big price reductions. Aria is the final high rise for The Lutgert Cos. on Park Shore beach off Gulf Shore Boulevard and is an 18-story tower with 65 units. Aria includes 13 penthouses. Every condo offers views of the Gulf of Mexico and Venetian Bay. As far as Florida real estate goes, Naples is a pretty good place to go bargain hunting because it is an established area with a history of high real estate prices.

Source

Tags: aria, condominiums, florida, naples

Portland Condo Offers Overnight Stays To Lure Buyers

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Condo gloom is everywhere, some projects are stopping half-completed, some are shrinking, some are turning into rentals, and then there are the incentives. Developers have been using all sorts of lures to get people into condos including price cuts, appliance and decor upgrades and even free bikes and cars. A new technique comes out of Portland, Oregon. The developer of the Atwater Place condominiums thinks you'll be more eager to buy if you can just sleep in it over night. The ninth floor display unit is accepting potential buyers as overnight guests, hoping they'll rise in the morning, look at the Willamette river views and make coffee in the new kitchen and decide to sign the contract. The Atwater tower is 30 percent sold and sells condos from just under $300,000 to over $1 million, pretty steep for Portland.

Source

Tags: atwater, condominiums, oregon, portland

SouthShore Condo Project Opens In Kentucky

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


Well it was nearly a year behind the schedule we wrote about when it was first announced in 2006 but the SouthShore Condominiums in Newport, Kentucky is finally open.The KY Post reports that sixty percent of the 65 luxury units on 17 floors have already sold. The SouthShore is one of many condo projects rising in this area of the Ohio River. Each unit has a river view from the living room and master bedroom with with floor-to-ceiling glass. Building amenities include an exercise area, putting green, swimming pool, hot tub and sun deck and the Shore Club has a bar, cooking area, fireplaces and big-screen TVs. There will also be a 100-slip marina out in front. Prices for units still available range from $300,000 to $3 million.

Source

Tags: condominiums, condos, kentucky, southshore

Waldorf=Astoria Plans Philadelphia Project

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Waldorf=Astoria Hotel has announced their latest project, a Waldorf Astoria Hotel and Residences in Philadelphia. The $420-million development will be 58 stories and will include a 175-room hotel and 136 private residences starting at $1 million each. The property will also be home to a spa, conference room, a boutique shop and a restaurant. The granite and glass tower is to be designed by Cope Linder Architects of Philadelphia and the most desirable units will be the eight custom Bi-Level penthouses with internal private elevators, grand staircases and some of the highest walkout terraces in the city.

Some are wondering if there are enough buyers for all the condo projects being built in Philadelphia. While Philadelphia does have less construction than other large cities it also has a large inventory of condos for sale and plenty of projects currently underway which will push more units into a crowded marketplace. Perhaps by the time these condos are ready in 2012, the condo market will be a bit warmer.

Source

Tags: condominiums, condos, philadelphia, waldorf astoria, WaldorfAstoria

Hotel Georgia Plans Condo Tower In Vancouver

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


More interesting real estate news out of Vancouver, the Hotel Georgia, a Vancouver landmark that first opened in 1927, is now home to luxury residences and an updated hotel. The main hotel will be renovated and the Private Residences at Hotel Georgia will be a 48-floor tower with 156 condo units. It will be th third tallest building in Vancouver when completed. The 160-room boutique hotel is going to be completed in 2010 and the team is trying to get it done before the Vancouver Winter Olympics in February of that year.

Condo owners will share the hotel's amenities including a restaurant from David Hawksworth, one of Vancouver's most acclaimed chefs, a roof garden, a spa and fitness center, wine cellar and a round-the-clock concierge service. The condo tower will also have eight floors of office space that will include a theater room and meeting room for residents.

Given that we recently saw construction stop on Vancouver's Ritz-Carlton residences we have to ask how this one is selling. The Calgary Herald article says 55 percent of the condos are sold -- including all of the one-bedroom units that started at $650,000 and the penthouse has also been purchased for $18.5 million. Remaining units start at $1.39 million for 1,178 square feet, up to a four bedroom plus den with 4.5 bathrooms and 3,489 square feet for $8.37 million.

Source

Tags: canada, condominiums, condos, hotel, hotel georgia, vancouver

Sapphire Condos Rising In Fort Lauderdale

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


As my colleague Jared Paul Stern reported earlier this year, Fort Lauderdale has been working on its image lately. The latest project is a new pair of condo towers, the Sapphire Condominium project located on A1A just two blocks south of Oakland Park Boulevard. There are two 12-story towers with blue glass and stainless steel accens planned and completion is expected for this coming season. The project includes f 172 two- and three- bedroom residences ranging in size from 1,274 to 2,680 square feet of living space and selling for ranges from the mid $500,000s to over $800,000. Penthouses start at $1.28 million. Homes include private balconies, large master suites and modern kitchens. Building amenities will include a large pool, cabanas, a whirlpool spa, fitness center, juice bar, saunas, a club room, a resident concierge, a garage with a 24-hour valet or self parking and a business center. Residents also get a membership to the Club at Harbor Beach Marriot Resort & Spa.

Source

Tags: condominiums, florida, florida condos, FloridaCondos, fort lauderdale, FortLauderdale, sapphire condominiums, SapphireCondominiums

One Lincoln Park in Denver

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

During the Democratic National Convention, nationwide attention focused on the growing city of Denver. I recently covered a converted loft in the city as an estate of the day. The city also has its first luxury condo tower built in the central business district in more than 25 years. The 32-story One Lincoln Park will open to residents on September 22. All residences have terraces, kitchens with slab stone countertops, hardwood floors, 10-foot ceilings and floor-to-ceiling windows. Amenities in the building include valet services, a guest suite and the Owner's Club which includes a gourmet kitchen, boardroom, terrace, infinity pool, fitness center and Pilates studio on the seventh floor.

In this time of condo dismay that has gripped the entire country and especially cities of moderate size, this one has sold pretty briskly. The Rocky Mountain News says that 144 of the 180 units in the $140 million project have sold. The remaining units range in size from 882 square feet to 4,330 square feet and are priced from $375,000 to $2.574 million.

Source

Tags: cities, condominiums, condos, denver

Stadium Lofts Auctioned In Anaheim

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments


Another week, another condo auction. This weekend, buyers lined up in Anaheim, California for a chance to bid on 58 deeply discounted Stadium Lofts condos. Potentials buyers could save between 24 percent and 29 percent on the condos which are located near the Angels Stadium. The OC Register reports that by Saturday afternoon, developer Windstar Communities LLC had received $5,000 deposits from each person for 48 condos.

The condo project has 390 units total but the developers had some trouble selling them so they decided to put the 58 units that had attracted the least attention from buyers up for auction. A 1,082-square-foot two-bedroom, two-bath condo went for about $350,000 which is approximately 25 percent off or a savings of $114,300 off the original listing price.

Source

Tags: anaheim, condominiums, condos, orange county, stadium lofts, StadiumLofts

← Previous Page|Next Page →

Featured Galleries

A. Lange & Sohne Zeitwerk Striking Time Watch
Amanyara, Turks & Caicos
Pilates in Heels: The Experiment
Greubel Forsey Double Tourbillon Technique Platinum Watch
Bulgari Serpenti Watches
'Silver Zwei' Superyacht
'TV' Megayacht Charter
Villa Volpi
Volvo S60 Style

 

HuffPost AOL Social News Most Popular