Lennox on Pearl / Block 9 / Block 5 / Etc

[acme54321]

At this point I am assuming that these are all dead.  There was a lot of buzz about these projects back a few years ago, but nothing to show of any of them since. 

https://www.jaxdailyrecord.com/news/2022/feb/18/this-could-be-the-future-of-brooklyn/

https://www.jaxdailyrecord.com/news/2023/apr/13/block-nine-project-earns-conceptual-approval-in-brooklyn/

https://www.jaxdailyrecord.com/news/2022/nov/22/lennox-on-park-apartments-in-review/

[Jax_Developer]

They are almost certainly waiting for the next financing cycle. The Block properties are owned by the largest landowner in Brooklyn. There are of course a few holdout parcels they are still gunning for.

Not sure what is up with Lennox on Pearl but I would assume the same financing issue.

[jcjohnpaint]

Believe the Lennox was waiting for road diet completion and Union Terminal to wrap up. Both are done, so...

[Zac T]

I can't imagine Columbia Ventures is happy with the slow lease-up at UTW although Lennox on Park would be in a much more favorable market

[fsu813]

Talk to developers about new multi-family. They'll all tell you there's no ROI in much of Jax right now, due to economic conditions.

[jaxlongtimer]

Talk to developers about new multi-family. They'll all tell you there's no ROI in much of Jax right now, due to economic conditions.

This brings me back to the Doro.  What's the latest on their renting up?  I predicted stormy weather for this project due to location, design and economy, but are they doing better than that?

[Zac T]

Talk to developers about new multi-family. They'll all tell you there's no ROI in much of Jax right now, due to economic conditions.

This brings me back to the Doro.  What's the latest on their renting up?  I predicted stormy weather for this project due to location, design and economy, but are they doing better than that?

According to their website, only 44% of units are still available to lease. Not sure if some inventory hasn't been brought to market yet or if they are indeed 56% leased. If the latter is true, that would be a very successful lease-up so far, on par with One Riverside

[MakeDTjaxGre@tAgain]

904 Happy Hour posted a vid on Instagram a few hours ago. Worth checking out regarding Rise. There was also a few cars in the garage. Hard to tell what's avail and what's not v reserve rented out and not ready from their site, but some units are going online 15 June.