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Old 01-11-2013, 04:37 PM
 
Location: San Antonio, TX USA
5,159 posts, read 9,686,124 times
Reputation: 7949

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Quote:
Originally Posted by teenwolf80 View Post
Again, where's the proof?
I think the fact that they are sitting there empty is pretty good proof. What more could you ask for?
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Old 01-11-2013, 05:11 PM
 
501 posts, read 837,611 times
Reputation: 481
Quote:
Originally Posted by Me007gold View Post
I think the fact that they are sitting there empty is pretty good proof. What more could you ask for?
Proof that they're sitting empty. I'm not saying one way or the other. But just saying their empty because someone člse did because they also heard it doesn't make it truth.
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Old 01-11-2013, 05:13 PM
 
501 posts, read 837,611 times
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Quote:
Originally Posted by BoerneMan View Post
The apartments at the Eilan have done fairly well while the rest of the project has struggled. They have been leasing at a pace of around 50 units per month last I saw at rates that are at the top of the market in San Antonio. We will see if they can retain tenants when their leases are up for renewal. They actually wish they had more than a handful of the large (and most expensive) 3 bedroom units because there is a waiting list of people that want to be there. I think those units lease for $5,000 or more per month.

I think the luxury market in San Antonio is much deeper than most people realize as they just expect most of San Antonio to be a low wage town. Don't underestimate the economic growth that is occurring. I see people moving in on a regular basis into the I-10 corridor that have household incomes of $250k to $1mm+. Many are coming from other cities to raise their family here. It's a very positive trend for this market.
What? I thought they were all empty and it was a giantix failure because the demographics. Well that's what random parents stated.
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Old 01-11-2013, 08:46 PM
 
Location: Boerne, Texas
309 posts, read 463,275 times
Reputation: 240
No, the apartments are far from empty. Since getting them all finished (granted, that took forever), leasing velocity has been fine and surprised a lot of local people in the industry. It achieved the highest rent per square foot in the city early in lease up and has dropped a little bit (still among the highest in SA) as they lease larger units.

Certainly the project has issues anyone can recognize. Lack of balconies, many different floor plans that make leasing difficult, lack of a pool dedicated to the apartments (one is now finally under way) and some very odd layouts (a simple Google search will show you all this). Even with all that, activity has been good. Unlike most projects that stabilize leasing at 92% to 97% occupancy, this project may fall short of that somewhat due to the many odd layouts. Who knows where it will end up occupancy wise (it has surprised people already), but clearly the apartments make up the bulk of the Eilan's value. Anyone saying they are empty or a complete failure have no idea what they are talking about. Also, whether you like the design or not, to say these apartments are in the same league as the Haven at the Rim would make any apartment developer or general contractor laugh. They are worlds apart in terms of construction cost and quality.

The hotel and retail are clearly a mess and the office is okay. The trolley was a crazy idea and is now gone. I'll leave it at that for this forum.
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Old 01-11-2013, 08:58 PM
 
501 posts, read 837,611 times
Reputation: 481
That was my point. It's the opposite of what a few posters were trying to preach as gospel truth.
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Old 01-13-2013, 11:05 PM
 
10 posts, read 14,977 times
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Quote:
Originally Posted by teenwolf80 View Post
Does anyone actually have any figures to back up the "Eilan is a failure" claims?
All one has to do is tour the property and common business sense will give you the answer.
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Old 01-14-2013, 12:22 AM
 
Location: Austin
1,795 posts, read 2,558,654 times
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What? Why would they get rid of the trolley, also I thought the hotel Elian was doing fine.
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Old 01-14-2013, 05:21 AM
 
501 posts, read 837,611 times
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Quote:
Originally Posted by kb4all View Post
All one has to do is tour the property and common business sense will give you the answer.
I see you didn't read boerneman's posts.
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Old 01-14-2013, 12:33 PM
 
1,836 posts, read 3,332,297 times
Reputation: 1735
Quote:
Originally Posted by teenwolf80 View Post
I see you didn't read boerneman's posts.
Yeah, because boerneman is also an Eilan expert, speaking the gospel truth too, right?

Don't argue against those you disagree with and attempt to use the same broken logic. Pot... Kettle... Black.

Simply put, Eilan is not working as of now. It's clear as day that no one is touching that place with a ten foot pole. A new hotel shouldn't need to Groupon out almost immediately.

And frankly, the local aspect on this thread only strengthens Eilan's overall weakness. I do hope these new owners have the capital to keep this ship running long enough to change its direction before it sinks for good.




BN
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Old 01-14-2013, 01:32 PM
 
545 posts, read 907,797 times
Reputation: 461
Eilan's clearly paying people to promote it online. If they're hiring I'm happy to be a shill for them.
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