http://hugeasscity.com/2008/03/19/the-devils-and-details-of-belltown/ > so much wonderful packaged in such a mess Fri, 10 Feb 2012 14:54:55 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://hugeasscity.com/2008/03/19/the-devils-and-details-of-belltown/comment-page-1/#comment-404 Lana Tue, 28 Oct 2008 18:09:39 +0000 http://noisetank.com/hugeasscity/2008/03/19/the-devils-and-details-of-belltown/#comment-404 Well written article. Well written article.

]]> http://hugeasscity.com/2008/03/19/the-devils-and-details-of-belltown/comment-page-1/#comment-403 danb Tue, 25 Mar 2008 06:45:54 +0000 http://noisetank.com/hugeasscity/2008/03/19/the-devils-and-details-of-belltown/#comment-403 But the question remains, DG: why is it that high quality detailing was financially feasible in the past, but not now? Is it simply because we value workout rooms more? But the question remains, DG: why is it that high quality detailing was financially feasible in the past, but not now? Is it simply because we value workout rooms more?

]]> http://hugeasscity.com/2008/03/19/the-devils-and-details-of-belltown/comment-page-1/#comment-402 dorian gray Thu, 20 Mar 2008 17:04:41 +0000 http://noisetank.com/hugeasscity/2008/03/19/the-devils-and-details-of-belltown/#comment-402 You can believe that sure. But it's wrong on some levels. When projects are obtaining financing for both mezz and perm, an appraisal of the project is done which is used by the financiers to approve/pass on the project. Other neighboring projects are comped out and the projected returns are calculated. The incremental return for ornate fenestration vs. the same monies used for club house and work-out room is non-existent so the lenders will ask for it to be put on the VE list (value engineer) of items to potentially save money. IF however it was required per code as many neo-traditional neighborhoods require them http://www.rosemarybeach.com/ then it is possible HOWEVER it increases costs which have to be passed on to future renters raising the rental rates which many believe will become similar to S.F. Also note that a good portion of projects are financed by pension funds -the same ones we contribute to in our 401k. Some are extremely specialized (Teachers, Union etc.) and effectively are passing the return back to the investors through 401k returns. You can believe that sure. But it’s wrong on some levels. When projects are obtaining financing for both mezz and perm, an appraisal of the project is done which is used by the financiers to approve/pass on the project. Other neighboring projects are comped out and the projected returns are calculated. The incremental return for ornate fenestration vs. the same monies used for club house and work-out room is non-existent so the lenders will ask for it to be put on the VE list (value engineer) of items to potentially save money. IF however it was required per code as many neo-traditional neighborhoods require them http://www.rosemarybeach.com/ then it is possible HOWEVER it increases costs which have to be passed on to future renters raising the rental rates which many believe will become similar to S.F. Also note that a good portion of projects are financed by pension funds -the same ones we contribute to in our 401k. Some are extremely specialized (Teachers, Union etc.) and effectively are passing the return back to the investors through 401k returns.

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