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Old 04-18-2015, 03:33 PM
 
105 posts, read 76,179 times
Reputation: 94

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Quote:
Originally Posted by easymacbb View Post
So, am I the only one who doesn't feel like there is enough people to move into all these new apartments/condos? I mean, that's 2036 units that are going up in the next couple of years. That seems like an insane amount for units that probably won't be cheap enough for the people who want to move into them.
They will fill. Demand is extremely high right now to move into the CBD. You may see some ancillary apartment complexes hurt a bit as a result, like the ones behind Whole Foods and on Carolina Point. The pricing will likely be similar, so people want to live downtown.

The main thing is, Greenville is growing faster than the rental market can handle. When something pops up, it gets taken almost immediately, so I see this as a good thing. We need to be more centralized to support this growth.
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Old 04-18-2015, 03:35 PM
 
105 posts, read 76,179 times
Reputation: 94
Quote:
Originally Posted by GSP101 View Post
Anyone remember 2008?

Overbuilding is not a foreign concept. One was overbuilt because Certus had larger ambitions than reality. Many folks on here argued at the time that Certus was about to be a big SC bank because the bankers said so. It happens all of the time, developers are not immune to making mistakes and in fact are notorious for overbuilding.

The fundamentals of Greenville suggest that office is definitely overbuilt, rising vacancy rates, slower rental rate growth, very low absorption rates and large blocks of sub leased space.

Fundamentals also suggest that apartment and hotels are getting frothy.

But, developers always feel like their project is special and immune to the market so they build until it crashes, file for bankruptcy and reorganize into a new company to start all over.
That's not true at all though. Office rents have been on the rise for a few years now, demand for both Class A and flex space is extremely high right now.

http://www.greenvilleonline.com/stor...ates/25476909/

Warehouse space is in super high demand to the point where speculative *warehouses* are being built. It's a fast growth market, and supply isn't keeping up, so as a result they're building more and can get these rents. I'm not sure where you're getting your fundamentals, but the actual fundamentals are exactly like I'm saying.

You also mention hotel occupancy plateauing or "frothing" - but know why? There's not enough supply.

http://www.greenvilleonline.com/stor...cord/19755831/

Year over year, hotel occupancy continues to grow here and significantly. I think you're underestimating how truly fast growth is here. Again - what fundamentals are you talking about? Because to me it sounds like you have absolutely no idea what you're saying.
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Old 04-21-2015, 01:17 PM
 
Location: Greenville, SC
10,081 posts, read 20,002,020 times
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What is really awesome about this is we don't have a major university that caters to and helps us with getting these projects built. This is pure demand among the general population just like in Charleston not college students needing more dorms. Just shows you how many people want to live in downtown Greenville.


Last edited by g-man430; 04-21-2015 at 01:43 PM..
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Old 04-21-2015, 03:36 PM
 
Location: 352
5,060 posts, read 3,516,650 times
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Thats a very nice shot of downtown. Nothing substantially tall, but all the buildongs together looks nice.
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Old 04-21-2015, 03:49 PM
 
Location: Greenville, SC
10,081 posts, read 20,002,020 times
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Quote:
Originally Posted by Jandrew5 View Post
Thats a very nice shot of downtown. Nothing substantially tall, but all the buildongs together looks nice.
Thanks. I Actually took the pic from my apartment building.
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Old 04-21-2015, 07:51 PM
 
4,382 posts, read 6,099,280 times
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Quote:
Originally Posted by g-man430 View Post
What is really awesome about this is we don't have a major university that caters to and helps us with getting these projects built. This is pure demand among the general population just like in Charleston not college students needing more dorms. Just shows you how many people want to live in downtown Greenville.
Nice picture. I'm sure you don't care if I borrow it.
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Old 04-22-2015, 10:59 AM
Status: "Summer, please don't leave!" (set 26 days ago)
 
Location: Asheville, NC
11,503 posts, read 25,807,415 times
Reputation: 4245
It is a very nice picture
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Old 04-22-2015, 01:52 PM
 
Location: Montgomery, AL
290 posts, read 719,854 times
Reputation: 136
Quote:
Originally Posted by Jandrew5 View Post
Thats a very nice shot of downtown. Nothing substantially tall, but all the buildongs together looks nice.
Ironically one of my favorite cities is D.C. . I favor density over random towers that look out of place unless more are soon to follow. The example i have of that that sticks out in my mind is here in Alabama. RSA built signature towers in Montgomery and Mobile and while they are nice...to me they look out of place.

Mobile






Montgomery






Quote:
**I don't not own any of the pictures posted. Only used for instructional purposes only and not for profit**

With that said...downtown Greenville is building on density and that's a great think. It's good to see this and it's catching people attention period even here in Alabama. I was in the barbershop and this guy was saying how he got a job offer in Greenville but didn't know much about it and assumed it was Mayberry. I showed him a few threads on here and gave him a run down [I'm from Columbia by the way...lol...but i love my state] and he called his wife and told her to start looking at the area because he was going to take the job.
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Old 04-22-2015, 02:31 PM
 
4,382 posts, read 6,099,280 times
Reputation: 1574
Quote:
Originally Posted by CarolinaSouth803 View Post
Ironically one of my favorite cities is D.C. . I favor density over random towers that look out of place unless more are soon to follow. The example i have of that that sticks out in my mind is here in Alabama. RSA built signature towers in Montgomery and Mobile and while they are nice...to me they look out of place.

Mobile






Montgomery









With that said...downtown Greenville is building on density and that's a great think. It's good to see this and it's catching people attention period even here in Alabama. I was in the barbershop and this guy was saying how he got a job offer in Greenville but didn't know much about it and assumed it was Mayberry. I showed him a few threads on here and gave him a run down [I'm from Columbia by the way...lol...but i love my state] and he called his wife and told her to start looking at the area because he was going to take the job.
DC is also my favorite large city. And for one of the reasons you just said, density along with some other things. Does the guy in the barbershop realize that Greenville is a larger metro area than Mobile or Montgomery? Just curious.
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Old 04-22-2015, 04:14 PM
 
Location: Montgomery, AL
290 posts, read 719,854 times
Reputation: 136
Quote:
Originally Posted by redcliffe View Post
DC is also my favorite large city. And for one of the reasons you just said, density along with some other things. Does the guy in the barbershop realize that Greenville is a larger metro area than Mobile or Montgomery? Just curious.
No he didn't... in fact he assumed SC had less people than Mississippi and i had to correct him and tell him that SC actually will pass Alabama in population by the end of this year and is slated to pull away in the near future. I did mention that the Upstate was the most populated area in the state on par with Birmingham and he asked how far away was the beach. I told him the same time it would take from Birmingham to Gulf Shores, AL. He asked if i was talking Myrtle Beach. I told him Myrtle Beach, Hilton Head, Folly Beach, Isle of Palms, Tybee Island and a bunch more. I told him the shopping and restaurants were waaaaaaaaaaaayyyyyy better than anything in Montgomery which he liked the idea of it. I think the last thing i mentioned to him was how if he took I-85 to the north he'd end up in Charlotte 90min later and to the South ATL both in just over 2hrs.

What's funny is the next time i went in there one of the barbers started asking me about other parts of SC. It had me thinking like i could steal some of Montgomery's population and steer it to SC lol.
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