condos

Balcones Del Atlantico Development

For second homes at a lower price, the Dominican Republic is fast becoming more popular. Balcones Del Atlántico is a beachfront community in the village of Las Terrenas on the Samana Peninsula. Balcones Del Atlántico has more than 250 units situated on a former coconut plantation. The development has 15 pools throughout the property including an infinity pool, a pool with tranquil waterfalls and a party pool with swim-up bar. Residential options range from one to five bedroom units that include villas, town houses and condos some with rooftop terraces with solariums, Jacuzzis and pools. Residents will have access to the beach, a commercial plaza, a heliport, a club house and beach bar/club. Recreational opportunities include beach volleyball, tennis courts, a children's playground, a spa and gym. Prices range from $475,000 to $1.7 million. It is already under construction with final completion of all phases scheduled for 2011.

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Tags: balcones del atlantico, BalconesDelAtlantico, condos, dominican republic, DominicanRepublic, second home, vacation home, VacationHome

The Millennium Tower Discounts 15 Percent

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

One of the most lavish condo projects in San Francisco, the Millennium Tower, will be given a price chop. The 60-story glass tower with sweeping Bay Area views is reducing prices by 15 percent including offering a refund on units already sold. The tower, San Francisco's tallest residential building is being built in the South of Market area. The tower includes a club level with a screening room, pool and pool terrace, fitness club, tasting room, lounge, dining room and fitness center. A residents-only dining room is serviced by Michael Mina's restaurant RN74 which is located in the tower.

The cuts are in line with recent housing data in the San Francisco market which have shown prices falling over the past year. So far the Millennium Tower, San Francisco's fourth-tallest building, has 92 units, or a fifth of the total, under contract. The decision means that the developer Millennium Partners LLC will refund 15 percent of the $22.5 million it has in deposits. The building is set to open in mid-April.

[via Bloomberg]

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Tags: condos, milennium tower, MilenniumTower, millennium, real estate, RealEstate, san francisco, SanFrancisco

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.

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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

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

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

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

Retirement Communities Considering Widening Age Restrictions

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

For years developers have been anticipating the needs of the retiring baby boomers by building massive 55-and-over community complexes. But they didn't bet on a slumping economy and a down real estate market that would leave aging Americans unable to stop working and sell their homes. Even those that are already in these communities are struggling to pay their homeowner's dues and condo fees because their retirement accounts are dwindling. The Wall Street Journal covers the growing trend that finds many developments considering opening their doors to younger buyers.

Not everyone is embracing these changes. Some people worry that the mixing of ages would change the nature of the developments bringing more traffic and noise as well as municipal expenses such as schools for younger children. Warm-weather retreats such as Arizona, California and Florida are most affected by this trend. Some are lowering the age requirement from 55 to 45 but still keeping the ban against young children in place. There are also potential legal questions in some cases in regards to zoning since some of these developments have been in zoned specifically for senior housing. Meanwhile prices in these communities, especially in Florida, are plummeting. In the Century Village retirement development in Deerfield Beach two-bedroom condos that would have sold for $120,000 a couple of years ago can now be found for as low as $40,000, a fact that is attracting younger buyers to try and move in.

The problem is that no one knows just how long the current economic situation will last. Some condo developments are trying to wait out the inevitable upswing which will bring baby boomers back to their doorsteps while some developments which had banked on immediate sales, are doing whatever they can to get sales now.

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Tags: condo complex, CondoComplex, condos, retirement

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.

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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.

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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.

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

Luxury Homes in NYC's Chelsea at The Caledonia

by Lisa Palladino (RSS feed) —

Filed under: Estates, Services, Real Estate Developments

No matter the economy or state of the world, New Yorkers like their luxury, and one of the finest recent examples of upscale living is Chelsea's The Caledonia. Expertly built and managed by The Related Companies, this new hybrid building (includes condo owners and renters), which overlooks the High Line, already is sold out in its ownership division. As of a few weeks ago, however, rentals were still available. Sizes range from studio to three-bedroom, and some of the 190 units have terraces.

I thought I had a nice apartment until I saw the lobby, let alone the units! Eco-friendly bamboo floors and cabinetry, top-end appliances, large windows, key fob entry, spa-like bathrooms, and the Holy Grail of the NYC dweller -- a washer and dryer in each unit -- make me want to sell my place and move right in. And if I lived in a Related building now, I could easily do that, as Related makes it easy to transfer to another company unit within NYC, or even in another city.

Gallery: The Caledonia

Tags: Assouline, Caledonia, Chelsea, Clodagh, condos, luxury condos, luxury homes, luxury rentals, LuxuryCondos, LuxuryHomes, LuxuryRentals, New York, NewYork, NYC, real estate, RealEstate, Related, Related Companies, RelatedCompanies, rentals

Continue reading “Luxury Homes in NYC's Chelsea at The Caledonia”

Four Seasons Residences Selling Well In Denver

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Real estate may be in trouble all over the U.S. but it seems like Denver is having a mini-boom when it comes to luxury condos. Last month I wrote about One Lincoln Park in the area, now 9News in Colorado reports that the Four Seasons Hotel and Residences is also going up and selling well even though condos sell for $800,000 and more. The 45-story building will include 18 floors given over to Denver's first Four Seasons Hotel. The rest of the floors will house one, two, three and four bedroom condominiums, ranging from 1,000 to 7,000 square feet. The hotel and residences are expected to be finished by spring 2010.

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Tags: colorado, condos, denver

Constellation Property Group Turns Condos Into Residence Hotels

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

A few years ago the trend was that hotels were being turned into condos. Now the real estate slump has brought the reverse, condos being turned into luxury residence hotels. Constellation Property Group a developer of high end condo projects, has announced domus STAY, a new brand which will launch with the domus@STELLA in San Diego in early 2009. The Stella Condominiums have been converted into temporary residence units with furnished bedrooms, kitchens, dining areas and living rooms. They will offer the domus Pantry food and beverage service and a café concept named Check In. The Check In cafe at domus@STELLA will open with Aussie Chef Raffaele Petrazzuolo, preparing modern Italian-Australian fusion food.

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Tags: condos, domus stay, DomusStay, residence hotel, ResidenceHotel, san diego

Palazzo Announces St. Regis Residences

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The Palazzo Las Vegas officially opened earlier this year and now, like its neighbor The Wynn, it's expanding into resdiences. Las Vegas Sands has announced that the company has reached an agreement with Starwood Hotels to create The St. Regis Residences at the Venetian Palazzo,. The new project is a collection of 398 private luxury residences under construction between Las Vegas Sands' Palazzo and Venetian resorts on the Las Vegas Strip.

The residence will be available fully furnished with a choice of several different designer packages. They will range in size from 1,700 to over 10,000 square feet for a duplex villa with private pool. Prices on individual units haven't been released yet but the press release says that total sales for all units could reach as much as $2 billion which would put the average price at over $5 million. The St. Regis Residences are expected to open in March 2010. They will begin accepting VIP reservations this month and open a preview gallery in October.

Gallery: Las Vegas Projects

Tags: condos, las vegas, palazzo, residences, st regis, starwood

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.

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Tags: cities, condominiums, condos, denver

Condo Units and Boat Slips Up For Auction On Tampa Bay

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

Get ready for another Florida condo auction. On September 6th, Bella Sol in Apollo Beach, Florida will auction off 23 condo units, five at absolute auction to the highest bidders. Bella Sol's private marina on Tampa Bay with direct access to the Gulf of Mexico will also sell 12 new boat slips with four selling absolute to the highest bidders. The auction will be held by J.P. King Auction Company onsite.

Bella Sol condominiums have six different floor plans with two, three and four bedroom villas including two-level penthouse units. Amenities include tiled exterior patios, porches and walkways, hurricane resistant windows and patio doors, granite countertops, stainless appliances, master bath with garden tub, two-car garage, and elevators in each building. The building also includes a pool or spa.

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Tags: auction, boat slips, condos, florida, real estate, tampa bay

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