Thoughts on Skyscape (Minneapolis, Grant: real estate, lofts, condos)

[brizzock]

Hi everyone,
I'll most likely be relocated to Minneapolis for work in the next month or two, and I was looking for condos downtown. Does anyone have any thoughts (positive or negative) on the Skyscape condos?

Any help would be appreciated! Thanks.

[Minnehahapolitan]

The building is gourgeous. There is a good (from what I hear) restaurant on street level. There are the nice amenities like roof decks, gym, pool.
The location is OK. Elliot Park is close to everything but really has nothing. It is safe (if you aren't an idiot), but a pretty poor area of the City. The actual park is nice, but it isn't nearly as vibrant of an area as it could (or should) be.

[talktobrent]

yea, it's meant to be a "cheaper" cousin to the more ritzy grant park condos right around the corner. Brand new so it probably meets whatever standards you have. Like said earlier, it's not in the most exciting part of downtown, but you will still be walking distance or cheap cab ride to stuff most other locals drive 20 minutes to get to on weekends. If you really want something more exciting I would look at the warehouse district.

[brizzock]

Great advice--thanks very much for your help....since I'm coming from Philly, I certainly don't have a good handle on the area right now.

[Astron1000]

My Ex lives in Skyscape and he's pretty happy with it. The new restaurant on the main floor, Otho, is good. And it's an easy walk to connect into the downtown Skyway system (a big plus on inclement days!). It has a more modern vibe than, say, the Grant Park condos.

However, one important caveat. Skyscape is new. Residents are currently paying the association fee set by the developer.

Other condo towers downtown have all experienced one common issue: The association fees increase a year or two after construction, when the developer turns over the building to the association. The reason they increase is because the developer low-balls the initial fees to attract buyers. (Typically they set the fees to cover only utilities like heat/AC, electric, cable, garbage, valet, etc.) When the true costs of maintaining the building are evaluated, the fees inevitably rise.

This is not unique to Minneapolis. Skyscape is good, just don't take the association fees at face value right now, and don't believe the real estate agent! Talk to residents of Grant Park across the street. Ask them how fees changed, if at all (depending on when they moved in).

You might also want to check out the condos on the other side of downtown in the burgeoning North Loop neighborhood, like the 710, 720, and 730 Lofts, or the Bookmen Stacks. These seem to be good values by a very reputable developer and they are within easy walking distance of the new Twins Stadium (if you like baseball) and the Warehouse District entertainment area.

The Carlyle is also another new fabulous hi-rise in a good location, though it's nearly sold out. (But it's still fun to check out the 3,200 sq. ft. penthouse plans!)

Near The Carlyle, in the Mill District neighborhood, are several really nice condo projects. This is the area around the new, internationally-famous Guthrie Theater and the Mill City Museum near the Metrodome. Zenith is under construction so you probably won't be interested in those, although it seems to be a good value since it is also linked to the Starwood Aloft Hotel and residents can enjoy the amenities offered by the Aloft. But The Bridgewater has a very good reputation for a new project. This area has the benefit of being between the downtown and the U of M/ 7 Corners Area, so it's pretty busy all the time if you like a more urban vibe.

If you want ultra-luxe condos, then you might want to check out the new Ivy Hotel + Residences. They are part of Starwood's Luxury Collection and very exclusive - only 10 of them in North America. They are gunning for a 5-star rating, and they seem on their way toward achieving it.

[Thegonagle]

As far as high-rises go, I like the Skyscape. It's a decent building that was designed to be "affordable." It's not a "prestige" building like the Carlyle, and it's not as luxuriously decorated as Grant Park (500 E Grant). I believe that the units are smaller on average than Grant Park (and certainly the Carlyle), and the average asking price is correspondingly smaller.

One disadvantage that I see: only three elevators at the skyscape, and one is currently setup as a service elevator for the crews finishing the units, so as the building fills up, elevator waits will get longer, especially during "rush hours." (The Carlyle is only beginning to fill up, and already has long elevator waits for its three "high-speed" elevator cars.)

[john1978b]

I'm looking for a place downtown, nothing too fancy, less than $300K. Visited Skyscape and thought it was kind of on the edge of downtown bordering a sketchy area. It looks lihe the restaurant has closed. Does any one have any other thougths on Skyscape? Thanks much.