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Old February 9th, 2007, 05:49 AM   #721
House3780
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Quote:
Originally Posted by scando View Post
The case for the medical business is even more compelling when you consider the demographic shift that for several decades will have a large proportion of the population being aging baby boomers. As they move into retirement, they will move from BMW's into insulin pumps, etc
Thats a pretty insensitive remark there. Diabetes affects people off all ages anyway you know. I'm sure you didn't mean harm by it but still...
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Old February 9th, 2007, 05:52 AM   #722
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Originally Posted by MasonsInquiries View Post
this really says alot for charm city. i haven't been to dallas, but i've been to seattle, minn-st.paul, philly, and boston and education in these places are booming, and this report is saying that we're AHEAD of these places????? wow, we must be doing something right. that's for damn sure. keep up the work, b'more!!!!!!!!!
Well, we're ahead in some key areas. There is no way Baltimore has surpassed those cities. We are doing better, and I wouldn't write us off, but the optimism needs to be tempered with a bit of sobriety and caution. We can't build our way to success; a lot of it needs to be reflected in fundamentals, like regional corporate profits, business upstarts, and the amount of financing our local companies can receive. I haven't really bothered to look at these numbers before, but will try to dig up the relevant stats tommorrow to see roughly where we stand.

By the way, between Minnesotta's twin cities have something like 15 Fortune 500 Companies intersperced between them. There's some synergy going on there that we just don't have. As I've said before, while our region may be doing well, too many fundamentals of our city's economy resemble St. Louis or New Orleans. A lot of work remains to be done....so, all of us posters, open a friggin business and let's get going!!! (lol)
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Old February 9th, 2007, 06:01 AM   #723
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If thats all they have to offer is a Target and Shoppers then that is not what is define as a MASSIVE Revitalization of a city mall.

The day they add Nieman Marcus, Bloomingdales, Nordstroms, Saks 5th Avenue, Macy's, and other upscale stores then they can say that Mondawmin's Mall has received an Major Upgrade.
Oh please, look at the surrounding demographics. If you spent a moment doing something other than pontificating, I'd encourage you to look at a real estate website that can call up income levels for the areas surrounding a site, or look at the friggin census. Mondawmin is adjacent to some relatively poor communities, who would be completely priced out of the stores you're talking about. You of all people, the free-market advocate of the board, would understand that it's important to provide services commensurate with the community's needs. Nobody out there can affort the sort of tweedy stuff you're talking about.

Finally, there's a point to adding basic retail. Baltimore City has not had enough places to buy basic necessities like groceries, socks, underwear, and affordable clothing for a long time. Yeah, we have Family Dollars and a Wal Mart way out in SoBo, but the residents of our communities are grossly underserved by retail that would make their lives more convenient. (Hence O'Malley's push to add more full-service supermarkets.) I dare say that a lot of Mondawmin's clientele use public transit, meaning that suitable retail close to home improves their quality of life and makes life's necessities more in reach.

You're exceptionally foolish to propose offering mink coats to folks who mostly run our buses, clean our streets, and work in our service industry. Have some humility, and for god's sake, take a class in economics.
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Old February 9th, 2007, 06:07 AM   #724
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Just because your poor doesnt mean you cant buy nice things. I agree with most of your points, and I agree that those stores would not thrive at all at Mondawmin, its less about economics and more about appeal. There are 2 stores in Mondawmin that sells all Gold Chains, and another one that sells Avirex Leather. You would be hard pressed to find stores as expensive as these in most malls.Red and Yellow Avirex that start at about $500, and dont even get started on the 2 inch gold medallions that sometimes cost close to$1000
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Old February 9th, 2007, 06:28 AM   #725
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I'm just upset that General Growth has wasted a good TOD opportunity for more souped up suburban developmentat Mondawmin. They could offer the same establishments with and incremental, urban design, that would include multi-family housing when the market was ready for construction. I mean it's at the biggest transit hub in town with a HRT Subway station!

Nate
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Old February 9th, 2007, 06:40 AM   #726
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Originally Posted by House3780 View Post
Thats a pretty insensitive remark there. Diabetes affects people off all ages anyway you know. I'm sure you didn't mean harm by it but still...
A bad case of gallows humor...age and death affects us all but from a business proposition, the med industry would fail its investors if it didn't plan for the demographic certainty of a huge population shift. The marketplace is pretty cold. Every time I turn on the TV, I see sleep number mattresses, drugs to help "some men" hold in their water long enough to finish their golf game, motorized carts, etc. The media pokes you with a stick on this. As a city that is hospital heavy and has a large medical sector, those institutions would be fools to ignore the trend.
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Old February 9th, 2007, 06:43 AM   #727
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But generally, I share your sentiment about becoming a bedroom community. Of course we can use a stronger business base, and you're very right to address the importance of balancing residential and office development to create a somewhat self-sustaining community.
I'm not worried about the bedroom community thing. It is happening in cities all over the country. 60 years ago, business followed the move to the suburbs. It will probably also follow the next move.
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Old February 9th, 2007, 06:54 AM   #728
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If everybody loves living in downtown, it will be the place businesses want to be!

As I said in an earlier post, once the residential population reaches a certain threshold, they'll have a lot more say in it's appearance and operation.

Nate
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Old February 9th, 2007, 07:11 AM   #729
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I'm not worried about the bedroom community thing. It is happening in cities all over the country. 60 years ago, business followed the move to the suburbs. It will probably also follow the next move.
There's truth to that. After all, for an example, where is UBS's world headquarters? Stamford, Connecticut.
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Old February 9th, 2007, 07:28 AM   #730
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Was inside Mercy's main building today to see the orthopedic surgeon. The inside looks much nicer than the outside, I'll say that much, but no sign of any renderings of the new building, but then I didn't really have the time or the physical or mental power to mill around for too long. They've definitely done some renovating.

Nate
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Old February 9th, 2007, 07:52 AM   #731
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10 Inner Harbor – again, a planned mixed use tower at somewhere in the 700’ vicinity, 60+ stories. Developer is analyzing an office component in addition to the hotel, retail, parking and condo components.
Unless the office space the Downtown Partnership refers to is tenant-driven, I can only assume that it would be a very small component of the building. Keep in mind that a developer is refurbishing 1 E. Pratt, turning a building with a great location and generous floorplates into class A space -- 130,000 square feet. There are also enough blocks of space downtown to make me very skeptical of office. Among the major class A offices downtown, I've taken the best inventory I can of vacancies. Some of the space is not contiguous, meaning it wouldn't attract a large tenant, but there are enough blocks for our relatively quiet market to satisfy demand for the forseeable future. The list does not count the World Trade Center because it is not listed on any of the realty sites I visited. Where possible, I tried to discout any amount of square feet available for retail from the totals. As you'll see, there's almost 900k square feet of available A+/A office space sitting around, out of a total of about 8 million total class A+/A square feet. And that's just the CBD...

300 E Lombard - 34,388
300 W Pratt - 8,258
1001 fleet st - 28,375
1 E Pratt - 135,454
100 s charles - 21,500
120 e baltimore - 19,008
750 e pratt - 141,735
1 South St - 20,766
10 light - 63,477
one charles ctr - 59,644
500 e pratt - 17,199
250 w pratt - 116,987
100 e pratt - 60,456
111 S. Calvert - 26,567
7 st paul - 34,000
400 e pratt - 21,127
36 s charles - 51,710
candler building - 30,531
Total Vacant Space 891,182
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Old February 9th, 2007, 07:59 AM   #732
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Ok...pts official:

I'm officially annoyed by Harlem87. The moderator has to do something about him. He adds nothing but strife and nonsensical comments to the board. I'm sure the former is a violation of SSC's TOS.

I'm not saying he/she should be banned, but someone needs to tighten his/her leash.

Would JasonHouse handle something like this? Someone needs to get involved.

I'm more than able to handle change, but his/her presence has affected the quality of this board.

I come here because I enjoy the quality discussion and because, until recently, I haven't had to deal with the nonsense that goes on over on the sports board I frequent.

We're adults here. We should all act like it. I really hope this silly behavior leaves our board before things go terribly wrong.
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Old February 9th, 2007, 08:02 AM   #733
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Sorry for any typos. I'm posting from my blackberry.
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Old February 9th, 2007, 08:04 AM   #734
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I've asked this before from all, but got no response:

What defines the different classes of office space.

All I know is that Class A has parking and that B and C and so forth don't....

Can someone fill me in?

Nate
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Old February 9th, 2007, 08:08 AM   #735
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It has to do with parking, but other stuff as well. I'm not a realtor, so I'm very ignorant, but I do know that a Class A building can fall to Class B status if it isn't modernized and equipped with the most modern amenities. 1 E. Pratt was originally Class A, but is now considered a Class B structure, according to CoStar. When renovated, it will be brough back up to Class A status, after all the office space, lobby, and other common areas are refurbished, and key building systems -- e.g., telecom, elevators, HVAC -- are upgraded.
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Old February 9th, 2007, 08:17 AM   #736
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I know someone is going to say this, so I'll anticipate it. Some of my list is not fair. Charles Center, for example, may be class A, but it's not going to compete with marquee tenants who seek harborside space. The BoA tower is old, and isn't equipped with parking, so for all practical purposes, it can be removed from the list. 120 E. Baltimore, 111 S. Calvert, 100 E. Pratt, 300 E. Lombard, 500 E. Pratt, and 300 W. Pratt all have small amounts of contiguous office available -- at best, maybe a full floor. 111 S. Calvert is mostly suites of 2-6k square feet, so while it's important to fill, the building is already 90% leased, and won't be a major player in considering the state of downtown real estate.

The buildings, obviously, to keep your eyes on are 100 Light, to see what Legg Mason does, 750 E. Pratt, 250 W. Pratt, and 1 E. Pratt, and to a lesser extent, the Candler Building and 7 St. Paul. Aside from a major in-migration, the best scenario that could happen to downtown might be:

- Smith Barney sets up operations in most of the vacant space at either 1 E. Pratt or 750 E. Pratt
- Legg Mason renews
- Ferris Baker & Watts, already with major operations at 100 Light, expands there, getting rid of its suburban office in favor of a downtown hub.

If all of these happen -- a perfect storm of grace, if you will -- maybe we'll see major office development. Otherwise, it's another version of 500 E. Pratt every 4-6 years...
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Old February 9th, 2007, 08:20 AM   #737
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^Nah....we'll run out of space downtown, then we'll get a 50-60 story building every 12-16 year!

Nate
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Old February 9th, 2007, 08:28 AM   #738
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Naing is sitting on the only area of remaining prime real estate for tall buildings in the contiguous downtown area after the current spate of projects pull through. I don't see much height arising on the westside and it sure as hell ain't happening SE (beyond IHE/HP), Fed Hill or Mt. Vernon.

As I've said, if the office market cooks up, you've got Westport, whatever's left to Canton Crossing, and maybe Old Goucher for some height, but I doubt more than 200 feet there. Maybe Gay St, but I see that as a Connecticutt/Wisconsin Ave for Balto. years from now.

There will truly be land scarcity then in Mobtown for downtown office space--if anybody wants downtown office space instead of "urban office parks". If they want the latter, i submit it's a result of our lacking rapid transit system to operate a dense downtown.

nate
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Old February 9th, 2007, 08:54 AM   #739
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Naing is sitting on the only area of remaining prime real estate for tall buildings in the contiguous downtown area after the current spate of projects pull through. I don't see much height arising on the westside and it sure as hell ain't happening SE (beyond IHE/HP), Fed Hill or Mt. Vernon.

As I've said, if the office market cooks up, you've got Westport, whatever's left to Canton Crossing, and maybe Old Goucher for some height, but I doubt more than 200 feet there. Maybe Gay St, but I see that as a Connecticutt/Wisconsin Ave for Balto. years from now.

There will truly be land scarcity then in Mobtown for downtown office space--if anybody wants downtown office space instead of "urban office parks". If they want the latter, i submit it's a result of our lacking rapid transit system to operate a dense downtown.

nate
Kinda. The BDC has issued an RFP for air rights to the 400 E. Pratt St. garage. Land on Market Place where BCCC sits could become office. 1 Light Street isn't near the planning phase for development. 25 S. Charles could plausibly be redeveloped into a taller office building with water views.

We've got room and time...

Transit, as you say, is the biggie.
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Old February 9th, 2007, 09:30 AM   #740
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Which building is 25 S. Charles? Is that the corner lot at Lombard?

They could certainly yet build on 400 E. Pratt, Lockwood garage, HarborPark garage--hopefully they'd strip down the facades and remake them into respectable illusions of architecture.

Are people that desperate for a view of the water? I'm not. I couldn't give a hoot if I could see the water. It doesn't interest me in the slightest. I rather look toward Mt. Vernon or other city. I'd rather see the vitality of downtown streets. Looking toward the harbor is like trying to avoid yourself somehow.

I love Fells Point, but the fact that's it's near the water doesn't really occur to me to be a reason to think the area's neat, other than perhaps the Harbor provides some definite boundary or form to the neighborhood.

Anyway, what do wealthy business people know....usually their own field and they think they know everything else, but they don't....ah well...off to sleep...

Nate
Nate
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