Tnexster wrote:What exactly is "affordable"?
Designed for people with only ONE trust fund.
Tnexster wrote:What exactly is "affordable"?
Tucy wrote:As to the affordable factor, the Downtown Connection TIF District, which supported this project, required 83 percent of the units be dwellings for artists earning incomes of 50 percent and 60 percent of the Dallas Area Median Income.
https://dallas.towers.net/2017/03/22/cr ... eet-lofts/
Flora Street Lofts is to be comprised of 52 units of which 43 will be an affordable rates.
The artists’ lofts will be in a five-level podium structure, part of which will also be a parking garage for 522 vehicles.
quixomniac wrote:Does anyone know if this tower helps, hurts, or does nothing in regards to the Museum Tower reflection issue and the Nasher?
rono3849 wrote:quixomniac wrote:Does anyone know if this tower helps, hurts, or does nothing in regards to the Museum Tower reflection issue and the Nasher?
If you look at the position of the tower, you can see that it's at an angle. The developers purposely did this to prevent any reflection on the Nasher Collection. It does no harm to the Nasher whatsoever.
quixomniac wrote:I suppose nothing will [help reduce the glare of Museum Tower] unless they build a [supertall] tower on the opposite side of Nasher facing Museum Tower.
Step through the Flora Street doors of the new Atelier tower in downtown Dallas, and you’ll find an exhibit hall filled with artworks.
That’s not the usual welcome at a high-rise apartment building. But the Atelier is the first such rental tower in Dallas’ Arts District.
“We wanted to tie into the Arts District,” said John Vranac, property manager for the tower, which is holding its grand opening this week. “When you first walk in, it makes you feel like you are in a museum.”
cowboyeagle05 wrote:The biggest problem is apartment leasing staff are still working cause they are considered essential jobs but movers are closed down.
Eva_pol wrote:cowboyeagle05 wrote:The biggest problem is apartment leasing staff are still working cause they are considered essential jobs but movers are closed down.
I disagree with you. If apartment rental employees are still working, Dfwmovingco dallas movers also work. Somehow they move to these apartments.
scott2 wrote:So.....as I remember the lower level loft style apartments were originally intended as affordable ( somewhat ) residences for artists. Fast forward to 2021 and now they are hotel/apartment units that will go for $200.00 per night. How very Dallas. Beautiful building though.
Tucy wrote:scott2 wrote:So.....as I remember the lower level loft style apartments were originally intended as affordable ( somewhat ) residences for artists. Fast forward to 2021 and now they are hotel/apartment units that will go for $200.00 per night. How very Dallas. Beautiful building though.
Wow. Steve Brown totally missed the real story. Scott, you do remember correctly, but ever since the original announcement, it seems nobody has talked about or asked about the so-called affordable artist lofts (except a few of us on this forum).
Not only is this scandalous, it exposes the lies we are routinely told about how quickly all the rental units downtown are filling up and the likelihood that Downtown Dallas Inc. "exaggerated" again when they touted a 95% occupancy rate for downtown Dallas apartments.
cowboyeagle05 wrote:Well the leasing staff wouldn't be told. Leasing staff at these properties are told nothing so they can't speak ill or good about things they know nothing of. I am assuming the artist units team never materialized the money they needed to cover the cost of the artists lofts. When the tower started we knew they were still on shaky ground trying to fund that portion so much so many here thought the tower would magically float with luxury apartments above and the artists lofts would just materialize in between.
Do we know who is leasing the units to Mint? Is it the apartment building team? The owner is ZRS and their subsidiary ZRS Management is the leasing team for the units in the upper tower but its very possible this was just the owner ZRS parent company wanting some quick funds from a hotel lease since the units are probably separated in some form from the rest of the tower. I doubt this is any real indicator of trouble leasing. These hotel rooms are becoming standard issue these days with most management companies. The hotel companies are offering good deals and if these units were never intended to be a part of the same systems the rest of the rental units are on with the upper tower it could be easier since these hotel teams are self sufficient.
As for the incentives provided that's a whole other animal I will let y'all mull over.
cowboyeagle05 wrote: I doubt this is any real indicator of trouble leasing. These hotel rooms are becoming standard issue these days with most management companies. are self sufficient.
vman wrote:cowboyeagle05 wrote: I doubt this is any real indicator of trouble leasing. These hotel rooms are becoming standard issue these days with most management companies. are self sufficient.
I was going to say the same thing...these "apartment building hotels" are common in just about every major city now. A friend talked me into booking one in Los Angeles once and I really wasn't a fan. Maybe it's just me, but when I'm on vacation, I really prefer being in a nice hotel. The apartment and building was beautiful, but I felt like I was housesitting.
undefinedprocess wrote:I manage a real estate brokerage and was excited to tour Atelier with my agents because of its location and what it was supposed to be, but yeah, no. Finishes are meh for the prices you're paying, the actual building is in shambles (due to the types of residents that've moved in and ongoing incompetent construction), and yep, no affordable units. I asked the leasing office agents about the change & if they knew anything about it (which I know they're a separate company, but still, never know), and they straight-up denied, denied, denied that affordable units were ever a talked about thing... Lol. This was earlier this year, too, like February/March.
As an "artist" myself, I was thrilled at the prospect of a building catering towards creatives both stylistically/budget-wise. But nope. Dallas developers.
Tucy wrote:
Quite right they have become common in just about every major city, but I suspect they are most common in the parts of towns that have an oversupply of apartments. As a rule, apartment developers don't develop apartment complexes with the intention of operating hotels. It seems likely it's more of a fallback that has become available.