Moving downtown?...the struggle is real (Detroit, Wayne: real estate, 2013, apartment complex)

[detroit's own]

I am finally looking at apartments in the downtown area and am very frustrated because just about every building has a waiting lists. The ones who have available apartments have 1 or 2 available only. Plus its kind of pricey. Anyone know of any nice apartments in the area $700 max? (I know its pretty low but I don't mind smaller apartments until I can afford to move into a more pricey apartment)

[weteath]

Man, whenever I look at real estate sites for apartments, the lowest they start at is 500 or 600 dollars for rent. I mean you could cut that in half by having a roomate or searching via room/share, but I'm gonna guess and say you want your own apartment fully...

I only say that because 5 or 600 between 700 bucks is a small window. Definitely a struggle to find that.

[PA Born]

$700 is fairly low rent, so I think you may have unrealistic expectations. You pay around that in some dumpy 60's garden style apartment complex in the suburbs.

And there are vacancies in many downtown buildings. A friend just moved into the Lafayette Park towers. There are definitely vacancies there, so check out Lafayette Park.

[Coldjensens]

To get into a good apartment downtown, you need to time it right. There are waiting lists for all the better apartment buildings and condos and some fill up as soon as they complete them. Find out what is coming up and get your name in. Millender center was recently purchased by Villiage Green and should be re-done soon. The Leeland may be redone as nice apartments in the near future. Given the demand for apartments and condos downtown I expect Gilbert will convert a building or two.

However 4700 s not realistic. Given the demand, prices are not going down any time soon. You might find a place in a dumpy low rise on the outskirts a bit for that or maybe a studio on a low level in a nicer building.

As your boss for a raise.

Good luck.

[MS313]

Yea the vacancies in the downtown area are very low. I plan on moving down there after my promotion. But at this rate I may as well just wait until I transfer to WSU and use their dorms to bypass all the hassle.

You can try this site to help you out a little bit: D:hive Live | D:hive

[detroit's own]

Thanks everyone. But I found a place. I'm moving to Indian Village. I only said $700 max because I didn't mean "downtown" and I know the near eastside and southwest and even some buildings in midtown have apartments for around that price (just wanted to point that out).

[Retroit]

I hope someone is planning on filling this demand for apartments. Gilbert, Illitch,...anyone?

[PA Born]

Originally Posted by Retroit

I hope someone is planning on filling this demand for apartments. Gilbert, Illitch,...anyone?

There isn' really sufficient demand for new construction or renovation, at least not yet. And vacancies aren't that low from what I've heard. You hear landlords and downtown boosters claiming low vacancies, to try and create a stronger market. Yet still lots of apartments available downtown and midtown.

You'll notice that all the new renovations are using taxpayer dollars, and aren't based on regular market demand. If the market were really as strong as claimed, they wouldn't need taxpayer subsidies to renovate buildings.

[belleislerunner]

Thankfully market participants have noted the surging demand to live in midown and there are new apartment complexes in the works.

WSU's RFP to develop a 5-6 story midrise in due at the end of this month. Wayne State Construction : Curbed Detroit

Early this month another midrise development won approval for midtown right across from WSU. Midtown Swapping Pool of Stagnant Water for 103 Apartments - Renderings Revealed - Curbed Detroit

Woodward Gardens - another midrise in Midtown on Woodward is scheduled to open this year - and progress is moving along rapidly. Your Detroit weekend reading list: More than two headlines

The Auburn came online less than six months ago as another new midrise in midtown.

With the selection of the M1 light rail construction contract this week - "I hope they build it" shifts to when will it be done - which will spur even more economic development. http://www.crainsdetroit.com/article...ve-the-station

PS - Indian Village is stunning. You did well!

[Retroit]

Thanks belleislandrunner, that's good to see. I was kind of under the same impression as PA Born. Guess I need to get out more.