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Old 11-08-2011, 10:17 AM
 
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How popular is Downtown housing in your city? Is it strictly expensive or is there a variety of price tags for such housing?

I was also wondering how prices in my city compare to other cities: Downtown Syracuse
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Old 11-08-2011, 11:21 AM
 
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Compared to a lot of cities...not all that popular.

However, there has been a renewed interest lately, and there was a pretty big downtown housing boom here in the last 10 years (before the housing bubble burst).

Downtown living wasn't popular at all in the 80s and 90s (partly because I think downtown was a little more dangerous then). Now it's one of the fastest growing areas in the city, with several thousand units built in the past decade (half a dozen high rises, and even more mid rises). On top of that, a lot of old buildings were converted to apartments, condos, or lofts. More development has been planned...but the economic slowdown obviously hit the housing sector really hard, so most, if not all of those projects have been shelved at this point.

When we eventually climb our way out of this economic hole, it will be interesting to see if the downtown area picks up steam again.

Here's a look at a cool new neighborhood, adjacent to downtown, that basically rose out of the concrete and gravel.

THE GULCH | The First LEED Certified Neighborhood in the South (http://www.nashvillegulch.com/living/index.html - broken link)




As for prices...I couldn't give you an average...but it's typically more expensive than in other parts of town. I'd say it ranges from $150k-$600k...with penthouses going for a few million apiece. Apartment rent (judging by quick glance) runs anywhere from about $600/month to $2,500/month.
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Old 11-08-2011, 12:38 PM
 
Location: The City
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http://www.centercityphila.org/docs/...aphics2011.pdf
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Old 11-08-2011, 02:17 PM
 
Location: Thunder Bay, ON
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What I consider downtown Toronto is home to about 150,000 people (2006 census) in 5.7 square miles. The condo boom is still going strong, so I wouldn't be surprised if it grew by more than 50,000 people by the 2011 census.

While downtown housing is desirable, there are still some cheaper units, especially in the NE in neighbourhoods like St. James Town (mostly rental), but that's not a very great neighbourhood. There is some subsidized housing as well, in Alexandra Park, Regent Park and St Lawrence. St Lawrence is a mixed income community, and they have some affordable and coop housing too.

I'm looking at MLS.ca, which I'm pretty sure has only resale units. There are a fair bit of tiny units being built now, compared to the size of older ones, so the cheapest one for sale now seems to be a 325 sqft studio for $185,000 in a new building at the edge of what I consider downtown. A 1-bedroom apartment seems to range from $225,000-$780,000 but more typically around $300,000-$350,000. Maintenance fees are usually $50/sqft. Cheapest 2 bedroom unit for sale now costs $275,000 but more typically around $450,000. Cheapest 3 bedroom unit is $300,000 but more typically $500,000-$800,000. There's close to 300 units for more than $1mil on the listing service. The most expensive unit sold is a 9000 sqft, 55th floor penthouse in the Yorkville neighbourhood for $28million. Yorkville is the most expensive neighbourhood, followed probably by the entertainment district or financial district.

The cheapest ground oriented unit (ie non-apartment) is a small 2 bedroom rowhouse on a lot 765 sqft lot. Typically though a townhouse or semi detached home downtown costs close to $1mil and a detached house around $2mil - although these detached houses would be quite big (>3000 sqft).
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Old 11-09-2011, 05:03 PM
 
Location: Detroit's eastside, downtown Detroit in near future!
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Quote:
Originally Posted by ckhthankgod View Post
How popular is Downtown housing in your city? Is it strictly expensive or is there a variety of price tags for such housing?

I was also wondering how prices in my city compare to other cities: Downtown Syracuse
I would say here in Detroit downtown living is one again (FINALLY!) becoming more and more popular. Our greater downtown area (which consists of about 5 neighborhoods) actually gained population this past yr. Most of the buildings in our downtown actually have 6month or more waiting lists as well. Its very hard at this moment, even with more buidlings being rennovated and turned into apartments, condos, lofts etc to find a place in our downtown. There is a variety of prices though. Actually it may be inexpensive compared to a lot of cities.
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Old 11-09-2011, 09:39 PM
 
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Downtown housing in Miami is very popular especially with the explosion of residential highrises within the last decade. The increase in downtown's population from 2000 is estimated to have risen about 86%. About 72,000 people reside downtown now which is the largest of any city in the South.
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Old 11-10-2011, 09:09 AM
 
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The downtown population doubled in the 1990's, and doubled again in the 2000's to around 100,000. That's the population along North Michigan Ave, Streeterville, the Loop down to the South Loop.
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Old 11-10-2011, 09:40 AM
 
Location: South Beach and DT Raleigh
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Quote:
Originally Posted by MiamiRob View Post
Downtown housing in Miami is very popular especially with the explosion of residential highrises within the last decade. The increase in downtown's population from 2000 is estimated to have risen about 86%. About 72,000 people reside downtown now which is the largest of any city in the South.
Agreed regarding Miami. It's astounding what has happened in just the last ten years in DT Miami.

In Raleigh, living downtown is accelerating. In the last decade, the housing available has primarily been about condo ownership. That ownership came at a large premium relative to other parts of the city. This decade is shaping up to be all about new projects that mimic the condos except that they will be rentals. 7 new high density housing projects have been approved for construction by the city just this year alone. Like the condos, the new rentals also come at a premium relative to the market. That said, there is a significant amount of post WWII rentals that serve a completely different part of the market with more affordable and less "luxury" rental options.
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Old 11-10-2011, 10:00 AM
rah
 
Location: Oakland
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SF has a lot of downtown housing, thanks mostly to the Tenderloin District, Nob Hill, and SOMA. About 70,000 people live in downtown, and housing ranges from brand new, extremely pricey condo towers, to early to mid 20th century apartment buildings populated largely by middle class to lower class and impoverished people (with a little student housing and some homeless shelters thrown in).

examples:


All sizes | Towers | Flickr - Photo Sharing! (http://www.flickr.com/photos/sightseeingtours/3252090181/sizes/l/in/photostream/ - broken link)


All sizes | 690 Market Street, San Francisco | Flickr - Photo Sharing! (http://www.flickr.com/photos/anomalous_a/4870481820/sizes/l/in/photostream/ - broken link)


All sizes | Millenium Tower Stitch | Flickr - Photo Sharing! (http://www.flickr.com/photos/virtualsugar/5391120020/sizes/l/in/photostream/ - broken link)


All sizes | One Rincon Hill | Flickr - Photo Sharing! (http://www.flickr.com/photos/dsleeter_2000/4155871703/sizes/l/in/photostream/ - broken link)


All sizes | august chill | Flickr - Photo Sharing! (http://www.flickr.com/photos/pbo31/1096482873/sizes/z/in/photostream/ - broken link)


All sizes | San Francisco Skyline | Flickr - Photo Sharing! (http://www.flickr.com/photos/adecoratedemergency/5629605746/sizes/l/in/photostream/ - broken link)


All sizes | Tenderloin vista | Flickr - Photo Sharing! (http://www.flickr.com/photos/sftrajan/4509682456/sizes/l/in/photostream/ - broken link)


All sizes | Hyde Street | Flickr - Photo Sharing! (http://www.flickr.com/photos/sirgious/4295923247/sizes/l/in/photostream/ - broken link)


All sizes | David Apartments (formerly Chevy Chase Apartments) - 360 Hyde Street, SF (built 1926) | Flickr - Photo Sharing! (http://www.flickr.com/photos/anomalous_a/4235733517/sizes/l/in/photostream/ - broken link)


All sizes | The Granada Hotel - 1000 Sutter Street, San Francisco (built 1908) | Flickr - Photo Sharing! (http://www.flickr.com/photos/anomalous_a/5160863418/sizes/l/in/photostream/ - broken link)


All sizes | freaky building / geary street / tenderloin / san francisco | Flickr - Photo Sharing! (http://www.flickr.com/photos/sftrajan/1668695295/sizes/l/in/photostream/ - broken link)


All sizes | McAllister Tower Apartments | Flickr - Photo Sharing! (http://www.flickr.com/photos/dnl_slavin/425655804/sizes/l/in/photostream/ - broken link)
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Old 11-10-2011, 10:26 AM
 
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Downtown Seatle has 60,000 people living downtown in a dense compact area. There are 7,000 new units that started construction this year in mostly highrise buildings and some midrise also.
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