The project is maybe not the worst idea, the $1400 rent a month though…
Oh and this was not the first plan:
“We were thinking of turning it into a WeWork space, a concert hall, a beer garden. We had no shortage of ideas on what to do with the space,”
Just some humble guys who pooled their money to buy it for $100,000 and then renovate it for $3.3mil.
Come on anyone can do this, just pull yourself up by the bootstraps already!
I’d have loved to see them make them low income affordable.
The whole story is oddly frustrating. The average rent in the area is $1189 FYI.
Yeah, but they’re also 150-200 more sq feet, with 12 feet ceilings and newly renovated…
Average rent includes shitty run down ones as well, which these days are most apartments.
The other community this was posted to was a “good news” community even.
This just doesn’t really feel dystopian
The literal only other time I have seen a school turned into apartments was for subsidized housing, they needed to all but gut the inside of the building to make it work. This was not done here, these are class rooms with extra plumbing.
The overlap of the good news posts and dystopian posts have always been oddly large.
Your article says they had trees growing inside the building…
And that they worked with a parks department to maintain the original look.
So ironically, them trying to maintain the history is why you think they’re overcharging.
They wanted to make it a “we work” at first, its not the overcharging that is the issue. The issue (at least for me) is turning every thing into a business venture. This was once a public building for teaching kids and was bought on the cheap to turn into another trendy revenue source.
Lol what a comment
Depending on where you live, $1400/month is REALLY cheap.
That’s only a hundred bucks more than my studio that’s in a bad neighborhood with drugged up neighbors that have not once, not twice, but three times hit the hood of my car with what looks like a metal bat or crowbar. I’ll take an old school any day.
The good thing is I don’t care about cosmetic damage and I have insurance, but it’s the principle of the matter.
I’m paying that in Austin. It’s great.
it’s pretty rare you get a developer who wants to enter the housing market at ‘affordable.’ more housing is good, people who can afford it will move to them if they’re fairly priced, putting their older units on the market. if they’re unfairly priced then the price will come down.
“I should have stayed in school”
My uncle does this with elder care living.
See that is a money making use I can get behind. There is such a shortage of elder care now.
Meanwhile, I’d just start a gay autistic commune in it.
