So it seems that the Kettle Brook Lofts finally have there website up and going.
Yesterday Neil and I were driving back from work and we spotted the two not so impressive Billboards on 290. Yes waterfalls and the land around the future home of the lofts is pretty damn nice.
But here we are February of 2007 and the University Park Lofts are not selling, there is still plenty of units at the Fremont and the units at the Winter St Lofts. They are building 109 new units in Worcester.
These are about 1/4 mile from my home so I know the neighborhood. I will state that they are more in Leicester then they are in Worcester. To get to the highway will take you some time and it seems young singles or couples that will buy some of these very small units will not like that there is nothing close by. Oh wait a new Super Walmart is going in on Rt 9 in Leicester.
So the pre construction prices have been posted.
Can be hard to read so here is the LINK.
So there is units that are in the 500 sq foot range. OK developers…. This is Not Boston or New York. Real estate is not that expensive. Why must you even sell units that small. Oh because it is water front and a single may like the fact they can get “loft living” for 119k dollars.
See the problems I see here is like University Place, far to many small units instead of making less units and selling them for an even amount, you wanted to be able to state that these “lofts” and I use that term loosely are affordable and the average person can buy one.
Shame Shame……
They do have some very nice features that they are stating on the website that it will have a wine cooler/fridge in the center island, that some units will have the option for a swivel Flat screen in a half wall.
I do think your rates for the condo fees seem very good. But again this is all pre construction. So once the real work gets started we will see how much changes in the sense of the options, extras and what the “lofts” look like upon finishing. The big units that are self contained….will never sell. Ask the Fremont who has a whole 1st floor of very awesome lofts, with a 2nd floor loft. They can’t get people to pay that price for a unit in this city.
As soon as more is done I will be visiting the lofts, checking them out and keeping up to date with my findings. Because unlike a very ugly person who likes to leave ugly comments, I have done my homework and this is fun for me. I know more about the Worcester housing then most people who have lived here for years.
But Kettle Brook lofts does need to realize that they state on the website that ” the average citizen can afford loft living” the average citizen does not like LOFT living. I love it, but there is a place and time for everything and another 109 units will be a crunch in the city of Worcester. The people in general are just not ready for it. It is not New England enough. Boston can have lofts because most people working and living there are not from Boston, they are not narrow minded, old fashioned in there taste or conventional. Here in the Wooo….most people have lived in this area most of there life. It is far to progressive for the style of the “New Englander”
The end ……………….
Ms. Crystal, you make some very good points. I agree with you on the size of the proposed lofts. 500 square feet?? I have seen the University Park Lofts, and my imression is that they too are a bit on the small side. I was also not impressed with the quality of the construction. The bottom line for me, is that they still have to come down in price. Add to the fact that more develpoment is on the way, see:
http://wbjournal.com/j/index.php?option=com_content&task=view&id=1344&Itemid=142
and I don’t see why the prices won’t come down an additional 20%.
Yeah I was writing about the Main st/Madison st condos and the Park View Condos near University Park. Just wait the prices will come down but not soon enough that the developers will be throwing away the money it took to build them.. Thank you John
How can you think that they could be from out of town? Oh, I guess it could be how the titlebar says “Worcester”, but when you get to the contact page, it slaps you with the “Located in Worchester Massachusetts”
Gotta love out of towners who invest too much money in a plan that they didn’t research.
*cough*
Union Blues
*cough*
Is there an update on these lofts. I was looking at them recently. They appear to be very nice and selling. The bathroom amenities are AMAZING compared to lofts of the same pricing else where in the city. The smallest they had available as of now was 558 I think. Anyway, since you seem to know a lot I wanted to know if you had any new news… possibly could post a link to your new findings? PS I’ve lived in MA my whole life and LOVE lofts. Worcester is needs to get progressive. It’s about time “outside” thinking encroaches on worcester. I think it’s a great Idea not stupid. I’d be curious if you know something about their not selling. It looked the exact opposite to me. I don’t think the problem with lofts in worcester is that they’re lofts and this in New England. They problem is the developers don’t do it up right! But I think they have here….
I wrote not so long ago about the reason units have sold there. Because they were trapped into buying, the prices were not lowered, the units where cheaply done and not up to par with the model units, water damage in low lying units. I have written with many people who have purchased there. The people that closed are no where close to the 57 units that had P&S back in 2007. The people who closed would have lost the money they put down by walking away. I still believe after they get the few people closed they have left from the orginal reservations they will be in the same spot as the rest of the lofts in the city. Forclosure and bankruptcy. God, they are giving cars away with units right now, stinks of desperation.