3rd & Main to open it's doors to residents . . . . . . .

[Deuce]

Don't know how i feel about that

Cause you were looking to rent there?

This is a great thing in this down market as they don't have to go to the hassle of finding renters or trying to sell. The deal runs a couple of years and I think it does eat up all the units. The population will be transitory but they'll have disposable income which is critical to helping commercial interests get established in the neighborhood.

[Omarvelous09]

Don't know how i feel about that

Cause you were looking to rent there?

This is a great thing in this down market as they don't have to go to the hassle of finding renters or trying to sell. The deal runs a couple of years and I think it does eat up all the units. The population will be transitory but they'll have disposable income which is critical to helping commercial interests get established in the neighborhood.

Don't get me wrong, i think it's great. But it would be nice to have a new rental building in the neighborhood. I think it would attract those who would enjoy the conveinence of living in Springfield but who aren't neccessarily fans of older homes/apts.

[fsu813]

ideally the units will all be filled with proton patients, if they can't all be filled then other people will be able to rent there.

[zoo]

It is true that there is a need for more market-rate rental units in S'field. But the assets are there, its just a matter of getting the landlords to think market-rate. Shannon at Prop Voice does a pretty good job of bringing market-rate renters into the neighborhood, as does SRG (when renting its homes), and I'm sure Dwellings can find a decent market-rate rental, too.

Many of the multi-unit buildings have been tied up in HUD's Section 8 program, and that status must expire before any landlord would consider renovating. Then there is the trouble that even if Section 8 status ends, would the landlord want to put more $ into the property, have to worry about tenants that have higher landlord expectations, and not have the guarantee of occupancy?

The Flagship properties, the Florence Court Hotel (Duke Properties) and Paul Davidson's buildings on Liberty St are great examples of this. Hionedes owns a couple, too, in the Laura/Silver and 4th area, and is slowly making efforts to upgrade to market-rate.

In the meantime, consider talking to your neighbors who own/rent single-family about improving property quality. I've been talking with the owner across the street from me for at least 2 years, and he is slowly working on market-rating his residences.

I think having Proton patients in 3rd & Main will be a boon for the businesses that are launching in the retail spaces, and for the corridor on the whole. When interest in market-rate rentals grows as a result, the other landlords would be unwise to ignore the direction of the market...