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IN PROGRESS: Capitol Cove

Cotuit

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CtownMikey Burg

CtownMikey

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FUNNY.. i was just going to post a request for pics b/c I haven't even been near the site in months..weird that I didn't click on this thread back in December. ANYWAYS.. crazy happy to see that this is moving along.

I wonder if the city has a master plan out there somewhere with a full render with the dozens of projects that we talk about on here ..?? :offtopic:

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brick Burg

brick

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If units in the Waterplace towers aren't moving at the lowest price points (my understanding is that the penthouse style units in all proposed buildings had no trouble moving), why do they think they will be able to get $335K for a 700 s.f. unit? What am I missing about the market? Am I smarter than these people or do they just have some kind of hubris? Honestly, 700 s.f. is too small for anyone but a couple that was very comfortable with each other. Add on condo fees and taxes and you are looking at $2K+ per month for 700 s.f. after putting $60K down. Proximity to the train station would have to be worth a lot.

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Garris Town

Garris

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I don't know. My initial take is that the truth here is somewhere in the middle.

Obviously, the price correction is real. I mean, prices can't keep going up 15-30% a year when incomes don't move! I love hearing all of the intellectual gymnastics on places like MSNBC and in the major papers as economists and industry "experts" try to optimistically explain why such gains will be perpetual.

However, many in real estate who work in the East Side and Downtown I've talked to say they aren't as worried and aren't seeing as drastic a shift as the hyperventilation in the media would suggest, since this time of year is normally slow anyway. While prices are down, they were telling me that volume isn't necessarily that far off...

On the flip side, I know quite a number of people, empty nesters especially, who are totally the kind of people who would look to buy in places like Waterplace, but understandably don't want to sell their existing home yet in one of the biggest pricing downturns in some time. I think the market/demand is still there, it's just that many people don't want to sell right now.

So the truth is in the middle...

- Garris

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Cotuit Megalopolis

Cotuit

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On the flip side, I know quite a number of people, empty nesters especially, who are totally the kind of people who would look to buy in places like Waterplace, but understandably don't want to sell their existing home yet in one of the biggest pricing downturns in some time.
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Garris Town

Garris

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Carnagie Abbey may be Waterplace's biggest competition. Harbor views and first class amenities without the "hassles" of city living. Buyers need to see through the myths of the "hassles" of city living to take the Providence plunge.
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09/21/38 Whistle-Stop

09/21/38

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Thanks for the photos. They seem to be making steady progress on this site. When is the completion date? Will they take out the old bridges across the river? This makes two cranes up and working over Providence. Progress. With BCBS that will make three. Hampton Inn will make four. And then who knows what else.

Have you heard of any plans to dredge the river? With a little more depth the gondolas could navigate up to Smith St.

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09/21/38 Whistle-Stop

09/21/38

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Who is responsible for extending the river walk to Smith St.? I know the developer has stated it would be part of the project but what about the canal itself or the other side along Canal St.? The state has worked on extending the river walk at the other end of the river along South main st.. I just don't see the developer cleaning out the river and taking out the old cross bridges that were part of the Blue Ribbon property. But I may be wrong.

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