« December 3, 2006 - December 9, 2006 | Main | December 17, 2006 - December 23, 2006 »

December 15, 2006

Condos with built-in rental suites

'Mortgage Helpers' to the rescue: Condos with built-in rental suites

Does this sound familiar? "I (or we) would love to buy a condo, but they're too expensive where I want to live and I don't want to go the housemate route to help pay the mortgage." Or how about this, "I'd really like to live in this neighborhood for at least a couple of years and would love to rent out a contemporary not-so-big efficiency to be able to afford it, but they simply don't exist."

Well, both those prayers are about to be answered with what is being referred to as Mortgage Helpers, coined by architect/developer Michael Geller, president of Univercity, a university-owned corporation developing a sustainable new community adjacent to the campus in the Vancouver BC region. It's essentially a for-sale condo with a built-in self-contained rental suite that the condo owners can rent out as an entirely separate unit to help pay the mortgage, OR absorb back into the condo as a third bedroom as the need arises or the income allows. A flex condo if you will.

Michael was inspired by the need for more affordable housing for students who might want to live within the community, but this kind of housing attainability applies to anyone interested. Here are some of his key factors for success:

"1. A separate door to the corridor, or the outside;
2. Pre-wiring and possible venting for the small kitchen area, which can be located in a closet;
3. Very nominal parking requirements for the 'secondary suite'. If a normal parking requirement is applied, it won't work. We agreed to 1 space for every 4 units;
4. Some common laundry facilities in the buildings, since these units, unlike most others we build around here, do not have 'in-suite' facilities."

He adds, "This is a clever way of providing a more affordable housing option, and greater housing flexibility". I personally think the plan works best in a three-bedroom apartment, especially one where the bedrooms are on either side of the living room, but this plan seems to work as well. The 240 s.f. units are renting between $600 and $750 in our market area!

See article for more info.

What would you call them? Comment below!

Posted by Neil | Link to Article | Comments (1) | TrackBack

December 14, 2006

The University and the Creative Economy

Universities + creative class + 3 'T's = economic and cultural growth

Many of us enjoy that college town feel of a pedestrian-oriented urban fabric, indie hang-outs and diversity mixed with enlightened conversation. Which cities do well in this regard, which don't, and why?

Creative class economist Richard Florida provides some answers with his colleagues in their recently published, The University and the Creative Economy.

As far as statistics and rankings, the study introduces two new ones:
Brain Drain/Gain Index (BDGI) - measuring and ranking cities by the extent to which they attract and retain college educated talent. See the study for rankings by city size.
University-Creativity Index - a combined ranking of a region’s university
and its overall strength in the Creative Economy.

These are used to provide the following conclusions regarding the potential of city-university regions to stimulate economic growth:

"The university comprises a potential – and, in some places, actual – creative hub that sits at the center of regional development. It is a catalyst for stimulating the spillover of technology, talent, and tolerance into the community":

- Technology: While universities are a leading resource for technological innovation, that does not necessarily translate into economic growth without the other two 'T's'.
- Talent: The host city most do its part to invest in the kinds of places, amenities and culture to retain the talent attracted by universities, measured by brain gain/drain. That's what much of this site is about.
- Tolerance: This is simply having a culture where a diversity of people feel welcome - women, minorities, lifestyles, young/old.

The study concludes: "The regions and universities that are able to simultaneously bolster their capabilities in technology, talent and tolerance will realize considerable advantage in generating innovations, attracting and retaining talent, and in creating sustained prosperity and rising living standards for their people."

Posted by Neil | Link to Article | Comments (0) | TrackBack

December 13, 2006

Apartment Ther-apy's Fall Colors 2006 Winners

Apart-ment Ther- apy's Fall Colors Contest 2006 Winners

How comfortable are you with the colors in your home?

Each year Apartment Therapy, one of the best blogs on apartment design anywhere, has a nationwide contest to find the best unheralded apartments that add a bit of emotion to their living environment via color, namely fall colors.

Why is color important, and why the contest? In their words, "Color is a powerful part of interior design and the cheapest way to change a room, but few feel comfortable using it. We could all use some help from our friends."

Shown here are the 2006 winners, with the winning entries in order of finish, hailing from Skokie, Illinois; Brooklyn, NY; and Mexico (for some reason, the city wasn't listed).

A couple of key color tips by the winners:

1. Less is more.
2. Know yourself (or at least, try and figure it out). Use colors that reflect who you are and what your lifestyle is about. The more you know, the more focused your color choices will be.

Color is entirely underrated when it comes to urban design - we'll take a look at this in the near future. If anyone has insight into this, please make contact!

Posted by Neil | Link to Article | Comments (1) | TrackBack

December 12, 2006

Excelsior Grand, St. Paul, MN

'Customer-led' urban design center opens in St. Paul

In a time when five indie films take all five Oscar nominations, the question is, can we get that kind of quality if we provide support for the indie developer? In a customer-led economy, the answer is a resounding yes.

One Minneapolis group that's taken the lead is University UNITED, a group of 12 progressive community organizations + businesspeople that want a vibrant, urban, pedestrian-oriented, transit-oriented district along St. Paul University Avenue, seeking investment in places like the mixed-use building pictured above. They understand that the kind of development they prefer will come from smaller, indie developers and investors, and thus sought $120,000 from the Minneapolis Foundation to provide them with a competitive advantage - the U-Plan Community Planning Studio.

The do-it-yourself themed center hosts computers equipped with Geographic Information Systems (GIS) mapping, AutoCad and SketchUp architectural graphics and visioning/design software, a large format color printer that can generate maps, professional staff proficient in GIS mapping and architectural design - all for free - IF you can prove your project will raise the bar for design and quality of life in the neighborhood.

More here.

Posted by Neil | Link to Article | Comments (0) | TrackBack

December 11, 2006

Rising Sun Mills, Providence, RI

A rising place in a rising district

Does your town have a manufacturing district that just feels very 1960s? That's probably because that's the last time anyone's invested in them as we slowly evolve to an information-based economy. However, the Olneyville neighborhood in Providence, RI isn't going to settle for living in that bygone era.

The City designated 175 acres for development investment based on a more contemporary economy - the Promenade District - with 10,000 new jobs, 2000 new residents, and 153 acres of park land. They were also wise enough to recognize that the abandoned Worsted textile mill, built in 1887, would be a haven for the creative class, resulting in what is today known as Rising Sun Mills (pictured), 12 acres and 313,000 s.f. of lofts, artist workspace, and retail. That they chose to allow Struever Bros. Eccles & Rouse to develop it shows that they really do understand what the creative class wants.

If the City had established a beta community beforehand, this would be exactly the kind of implementation program and resulting development suggested in the previous entry, How can a City establish a 'beta community' to attract the creative class?

Posted by Neil | Link to Article | Comments (0) | TrackBack