Another downtown building going condo

[hgupta]

Memphis Daily News has an great article on The Goddwyn building being gutted to make luxury condos.

I would love to get one of those...but I am sure they are going to cost close to a million.

http://www.memphisdailynews.com/Editorial/...d.aspx?id=91904.

[sleepy]

From the article : The upper 7 floors will house "single 3,100-square-foot condos with three bedrooms and three baths each."

It would really be something to have an entire floor surrounded by those great windows. It seems like all the condos going in down there are suddenly in the $400,000 to $1,000,000 range (Horizon, One Beale, Mirabella). Memphis isn't as poor as its stereotype, but you wonder how much a market there is for literally hundreds of these type of super upscale developments.

I really wish there would be an announcement for a townhouse/brownstone type development in the area south of FedExForum with units for $200,000-$300,000. I think they'd go like hotcakes, plus that area is a desert of vacant lots. I wonder who's sitting on them and what their plans are?

[Bears]

Memphis isn't as poor as its stereotype, but you wonder how much a market there is for literally hundreds of these type of super upscale developments.

There have been articles about the population parents with grown children retiring and moving from the Germantown area. Many of these elderly people might not want to care for a yard any longer and settle for a condo in Downtown and their numbers are growing. There are also some transplants from the northeast who like living in Downtown because its like living in a mini version of New York. The number of elderly people will go up along with these developments but yea the future will definetly be intresting. Especially when the biotech industry gets going and St. Jude finishes its expansion. Whats the status on St. Jude anyway?

[mandrws1]

Whats the status on St. Jude anyway?

The new parking garage was finished a couple of months ago! Thank goodness because parking was getting terrible. The concrete slab for the fourth floor is being laid and work is progressing along!

[Sterick Boy]

[Clobber]

The new parking garage was finished a couple of months ago! Thank goodness because parking was getting terrible. The concrete slab for the fourth floor is being laid and work is progressing along!

Any additional plans for expansion? Or are they set for the time being.

Also, don't forget Le Bonheur's plans for a massive expansion as well, to realize their vision of a top tier children's hospital.

[HKG]

Memphis Daily News has an great article on The Goddwyn building being gutted to make luxury condos.

I would love to get one of those...but I am sure they are going to cost close to a million.

http://www.memphisdailynews.com/Editorial/...d.aspx?id=91904.

Even if you had a million to spend on a condo, I bet the entire-floor condos are already "sold." I think the half-floor condos will start at 350,000. I think that each condo will have a balcony, which is tight.

One thing that no one writes about on this board is the impact an earthquake would have on a building like the Goodwyn Institute. I don't fully buy into the earthquake hype, but when you're talking about a 100 year old building I begin to wonder what would be the result of a 6.0 earthquake. Personally, I would think Goodwyn would fall. If it didn't fall, it would be at least temporarily unihabitable. Anyone else's thoughts?

[cdarr]

One thing that no one writes about on this board is the impact an earthquake would have on a building like the Goodwyn Institute. I don't fully buy into the earthquake hype, but when you're talking about a 100 year old building I begin to wonder what would be the result of a 6.0 earthquake. Personally, I would think Goodwyn would fall. If it didn't fall, it would be at least temporarily unihabitable. Anyone else's thoughts?

Good point. I do think about that quite often, and would give me some hesitation if I were looking to move downtown. Anything like the 7.1 earthquake that hit San Francisco in 1989, and it's hard to imagine all these early 20th Century highrises like Goodwyn, Exchange, Madison Hotel, 10 N. Main, etc. remaining intact. I'm no engineer, but unless a significant amount of reinforcement is being done during renovation, those old buildings just weren't constructed to handle that kind of shaking.

Things would also turn out badly for some more modern buildings. I was told by a contractor that the 100 North Main Building would be ravaged, if not collapse completely. He said it might as well be built out of dominoes.

[TennBear]

When you talk about Earth Quakes, they are really very different in different areas. If the Realfoot Rift (New Madrid Fault) would go it wouldn't be anything like the Earth Quakes in California. There is not the same type of geologic structure. The waves would go deeper and longer. There would not be as much shake. I would only be able to make conjecture about how an Earth Quake would react on an Aluvial Plane in the middle of the country. My guess is that the downtown may do better than a lot of other areas. I would be more worried about the petroleum refinery and the Memphis Port, along with portions of Mud Island. Mud Island and President's Island are likely to liquify and have the buildings sink into the ground.

[Fellowmann20]

Earthquake, thats scary! I would hate to see that happen to Memphis. Anyway, I think the Goodwyn building is another great historic skyscraper in downtown Memphis. It will being great knowing it is being used again.