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Icon on Bond

torgo

By torgo
in Grand Rapids

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AlexPKeaton Burg

AlexPKeaton

Posted
Posted

I imagine new condos would be a tough sell. Besides what's already proposed I'd be surprised to hear any major announcements at all, but more because of the general economy than lackluster sales for Fort Moch.

Anybody on UP buying, or looking to buy at Icon? I'd be curious to see what kind of deals or incentives they're offering. PM me I guess, as it's probably not something that needs to be posted on UP.

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michaelskis Hamlet

michaelskis

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I have two theories. Maybe banks won't loan money to people who want to by there and second, they finished the wrong units,. When Icon had the open houses. They have units very nicely finished... overlooking a stone court yard and not the river.

Secondly, there has to be something else going on because Hillmount has been rocking in sales. There is expectation that we will be sold out be then end of 2008. I think that it helps that the sales person (as of the past few months) owns and lives in the building, or maybe it is because of the roof deck. From what I hear, other condo projects, especially within the downtown/heritage hill area have been doing wonderful, so I am beyond the name of the developer and the location of the model units, I don't know what's wrong.

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egrguy Burg

egrguy

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I was doing a little research on this project and found that only 4 of 117 units have been sold. Is the project really struggling this badly? Is this project driven or current real estate market driven? Do you think this will impact other projects in the North Monroe area?
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GRJunkie4Life Unincorporated Area

GRJunkie4Life

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Are you serious? Only 4?! Thats crazy. The conversions from apartments to condos at Boardwalk did significantly better. Maybe they had a built-in customer with the initial renters. But 4? Can that really be confirmed. Im really surprised. Perhaps its kind of by itself out there. Who knows, but that is interesting.
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NorthEnder Hamlet

NorthEnder

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I think it comes down to location and price.

Hillmount is for the younger crowd, there are some things around it, it's not that far from East Town, and the units are cheap.

Icon is in a largely industrial area, not great views, fairly expensive units.

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GRDadof3 Ecumenopolis

GRDadof3

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I imagine getting only one parking spot per condo is a tough sell. Do you flip a coin to see who gets to park outside every day and scrape ice off the windows 5 months out of the year? The other projects with only one spot per condo (Tall House, 240 Ionia) all have the same issue.

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allbusiness Whistle-Stop

allbusiness

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I'm tellin' ya...they should give the first 25 people who move in an extra parking spot guaranteed for 5 years or something. Heck of a promotion and God know they've got the space.

There's been almost no advertising for these units and I don't think they're even doing the Grand Rapids Magazine parade of downtown living this year. It's like they've given up. As "neighbors" we never even see anyone stopping by, much less realtors showing anyone through. Very odd. Maybe they'll be part of the homebuilders "Parade of Homes".

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jbr12 Hamlet

jbr12

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I imagine getting only one parking spot per condo is a tough sell. Do you flip a coin to see who gets to park outside every day and scrape ice off the windows 5 months out of the year? The other projects with only one spot per condo (Tall House, 240 Ionia) all have the same issue.
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towermart Unincorporated Area

towermart

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I'm tellin' ya...they should give the first 25 people who move in an extra parking spot guaranteed for 5 years or something. Heck of a promotion and God know they've got the space.

There's been almost no advertising for these units and I don't think they're even doing the Grand Rapids Magazine parade of downtown living this year. It's like they've given up. As "neighbors" we never even see anyone stopping by, much less realtors showing anyone through. Very odd. Maybe they'll be part of the homebuilders "Parade of Homes".

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Mac82 Crossroads

Mac82

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Wondered if anyone has heard anything on this project lately. By my count (via a public records search) 4 out of 118 units have sold. I know they attempting to lease currently but I have to imagine its just a countdown at this point till this project goes down in flames for good.... or at least till it's remarketed with a new owner.

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GRDadof3 Ecumenopolis

GRDadof3

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My guess it will be bought out by a new investor at some point and re-marketed as apartments, but who knows.

People have been asking what is going on with this project for over a year now with no response, which is starting to get old. I doubt someone's going to come forward and blather all the details on a public forum. Especially about a project that involves an attorney as developer. In fact, if someone did provide the gory details, the post would most likely be removed.

Hey, welcome to the forum Mac82! ^_^

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