Fourth Ward Square Condominiums

[Charlotte_native]

I forgot one thing. When I toured the places, they were specific that there were no upgrades, everything you see is what you get. (includes everything seen in the pictures on their website)

This reduces cost of construction because there will be no change orders, no one-off construction items in random units, and they will get a bigger volume discount on every building material.

[monsoon]

This also greatly increases the speed at which they can finish. Quicker closings with less hiccups, better margin.

[JonesQC]

This is the traditional formula behind fast food. If they insist on selling these kind of places then I wonder why they don't take the prefab approach. It results in a much better quality place than the junk I see them putting up in Charlotte right now and the owner does get some say in customization.

[monsoon]

......

When you were referring to "they", and "junk" are you referring to this developer, this project, their other projects, or just in general? ...

[Charlotte_native]

The actual underlying construction. If one takes a look at any of the places going up now, the very low spec level should be obvious. It's as if they are building to the minimum of construction standards. The end result will be noisy units that may be afflicted with other annoying but non serious problems.

[monsoon]

.....This is a condo conversion project, so it actually isn't a throw away, but quite the opposite.

.....Because they already exist.

[Charlotte_native]

I see you are still working on that "context" thing. I was answering a question for someone else.

[atlrvr]

I also did hear the developer/owner owned the building outright and they have a couple projects in South Park that they are planning on doing as the economy turns. Maybe they need the cash to make these happen.

[DMann]

I am sure that Monsoon's comments are based on his on site tour of the project.

[monsoon]

I am sure that Monsoon's comments are based on his on site tour of the project.

[jenste]

The model was furnished with all IKEA products but none of the interiors of the model or the units will be from IKEA except for the plumbing and some lighting. The cabinets are the Cardell brand and were supplied by Southern Cabinets. The flooring and tile were supplied and installed by Charlotte Flooring. The countertops were supplied and installed by a granite dealer. The faucets in the kitchen and the bath are from IKEA as well as most of the lighting fixtures except for the bathroom and the can lights.

Each buyer will have the choice of either of the two finishes in the sales office, one of which is in the model kitchen. There are no limits as to how many units can be finished with the second finish that is not in the model.

[UrbanFuture]

The model was furnished with all IKEA products but none of the interiors of the model or the units will be from IKEA except for the plumbing and some lighting...

[jenste]

Moot point now, but I was told by no less than 2 different sales reps on the day that I was there that everything sans the tile, carpet, and appliances came from IKEA, cabinets included. If this is not correct, then it is unfortunate that things were misrepresented in a sales environment.

Also, I looked at Southern Cabinet's site here in Charlotte and couldn't find any images or offerings closely resembling what was in the model. However, a quick glance through IKEA's webpage yielded a cabinet door pretty much identical to the ones on the upper cabinets in the model. I have a hard time believing they are shelling out extra thousands of dollars to a cabinet company for cabinets that look identical to cabinets from IKEA. That's just me, I'm not trying to get into an arguement, just curious as to some of the economics of this condo project.

At that price point, in my opinion, most people are going for a look, not a brand name, so I doubt very many of the buyers would care either way.

[JonesQC]

Just an update here on the progress. Looks like the first building that faces N Graham is almost complete. New roof and windows have been installed, board siding replacement as needed has taken place and the paint is starting to make the place look decent. The club house has been stripped and is waiting on paint and the clubhouse kitchen is currently getting redone. New air handlers and AC units were installed a couple weeks ago. My understanding is that the appraiser was out Friday getting the dimensions on the units. They appear to be a bit behind schedule because of rain and I hear the cabinet supplier sent wrong cabinets, etc.

My only concern is how the grounds will be landscaped. This will pretty much make or break the curb appeal facing N Graham St. The other wild card is how well the pool/courtyard area will look after being completed and the detail and workmanship of the clubhouse.

And on good news, they decided to tear down the rotten purple semi-awning for the stairwells to each unit. New awnings are being built in a deep navy color.

[dubone]

Please don't tell me that the peach looking paint is the final color. It looks terrible and boring!

[JonesQC]

Any update from anyone who has moved in yet?

[HopHead]

I've noticed in the last several Sunday's Edition of the O, that there are always at least 5 closings per week on these units. Good to see that people are taking advantage of the price points these condos have.