We Spent $1 On An Abandoned Baseball Stadium - And $14 Million To Convert It Into Luxury Apartments

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CNBC Make It

CNBC Make It

Күн бұрын

Пікірлер: 721
@CNBCMakeIt
@CNBCMakeIt 3 ай бұрын
Do you rent or own? Share your story with us for a chance to be featured in a future installment of Unlocked: forms.gle/jXxFsQnUtHNSHBDu6
@eddyafritz
@eddyafritz 3 ай бұрын
I rent from a market were 80% of landlords utilize RealPage for there prices. What about you CNBC?
@drixle.
@drixle. 3 ай бұрын
Treadmills and ellipticals in the press box overlooking the field would have been awesome.
@amberf6275
@amberf6275 3 ай бұрын
Or some sort of community spot. Mini-kitchen, couple of pool tables, some dart boards?
@jerseymxnette6176
@jerseymxnette6176 3 ай бұрын
⁠​⁠@@amberf6275exactly what i thought. pool table, ping pong table, mini kitchen/bar/coffee spot, & a table for board games seems doable
@dormaintaylor8159
@dormaintaylor8159 3 ай бұрын
a treadmill looking at an open field is WILD to me tbh............
@pgroovster15
@pgroovster15 3 ай бұрын
there's no way to get up there that meets accessibility standards or that wouldn't go through a unit. also, it would be very narrow - not ideal, maybe not even possible to get large equipment up there with adequate space to use it
@OrangeOfCanada
@OrangeOfCanada 3 ай бұрын
Would be a great space for a garden maybe too
@JRPGGUY
@JRPGGUY 3 ай бұрын
I love seeing old buildings get refurbished
@Simonb1977
@Simonb1977 3 ай бұрын
well they did demolish most of it..
@mkhanman12345
@mkhanman12345 3 ай бұрын
I love old buildings
@DavidMcCoul
@DavidMcCoul 3 ай бұрын
Me too!
@broseywales5538
@broseywales5538 3 ай бұрын
Except the only idea any can come up with is to repurpose them into apartments; it's boring.
@dumolwenkosimhlope1908
@dumolwenkosimhlope1908 3 ай бұрын
Thats a sign you will be a real estate mogul
@MarsJenkar
@MarsJenkar 3 ай бұрын
I used to live in the area, and I'd visited old Bush Stadium (the one that was renovated for this project) many times when the baseball team played there, as well as a few times at Victory Field downtown. I know that Bush Stadium was used as a racing course for a few years but that never really took off. At least some of old Bush Stadium has been preserved in this project.
@PresPrada
@PresPrada 3 ай бұрын
Turn it back to an actual field and let the youth come play games for the renters to watch from their rooms. Gonna need a massive net to stop homeruns and foul balls lol but i think it would be dope to keep the game alive in such a nice area
@Bonzi_Buddy
@Bonzi_Buddy 2 ай бұрын
This is how it is done... You get the city to give you property for $1 when they will not sell it to anyone else for far more than that. Then they put rent controlled apartments in there and get all kinds of tax dollars to do such a product. You have to provide these controlled units for X number of years. So what happens is they sell the property when those years run out and they have completed their contract with the city. They cash out big bucks, the buyer raises rents and the taxpayers get robbed.
@goodthankshopeyouaretoo
@goodthankshopeyouaretoo 3 ай бұрын
I love buildings that are transformed and so on, but that is not a a luxury apartment finish 😂
@jeffharris7777
@jeffharris7777 3 ай бұрын
More unaffordable homes. Great.
@bigturbo
@bigturbo 2 ай бұрын
As someone who lives near this, it’s not at all a luxury apartment complex
@JeJeNtwrk
@JeJeNtwrk 3 ай бұрын
This is just amazing. Instead of letting the building rot away!!!
@jodymazzarese5151
@jodymazzarese5151 3 ай бұрын
I wish someone had gotten to Gary Indiana, so many beautiful structures just left to rot 😢
@GAsh0012
@GAsh0012 3 ай бұрын
They knocked almost all of it down...
@bbsara0146
@bbsara0146 11 күн бұрын
pretty sure they tore it entirely down mate
@aztcufrog
@aztcufrog 3 ай бұрын
Remember they did this in 2011. It was a decent risk in the wake of the financial crisis. Likely why the city offered it for $1 because there weren't many developers who could or would take on this risk. Their building costs also reflect the costs of that time. Materials and labor were cheap and plentiful. Oh how times have chagned.
@josephnekolite2080
@josephnekolite2080 3 ай бұрын
And now they want almost 2k a month for the nicer apartments.
@tomdiets5079
@tomdiets5079 3 ай бұрын
$1,581 a month for a 2 bedroom apartment is freaking great price, you can’t even get a nice 1 bedroom apartment for that much in Maryland.
@dmytrolisovyi2916
@dmytrolisovyi2916 2 ай бұрын
Well, they also got a $5.3 million grant from the city 4:28
@FATMAC2
@FATMAC2 2 ай бұрын
@@dmytrolisovyi2916 what a scam
@apeekintime
@apeekintime 2 ай бұрын
Developers weren't worried. in 2011. They were getting gas deals on everything and they were going nuts on developments. Most urban areas were seeing a massive kick off of activity in 2011 because every city was offering money and every bank was desperate to lend money on projects so they can build up a new portfolio of stable debt.
@HannahLevine359
@HannahLevine359 Ай бұрын
*DONALD NATHAN SCOTT.*
@toddshavor809
@toddshavor809 3 ай бұрын
If I could make a suggestion.you should put in a HD Scoreboard and use the playing field grass for renters to do community movie screenings, etc. But it's a really great project and well done.
@hc8714
@hc8714 2 ай бұрын
not really that fun for those premium units facing inside the stadium
@apeekintime
@apeekintime 2 ай бұрын
@@hc8714 Would be very far from their units. Would not be a light or noise issue
@nicroush4554
@nicroush4554 3 ай бұрын
This is the definition of thinking "outside the box". Excellent job!
@seancai1049
@seancai1049 2 ай бұрын
more about having friends and corruption in government why do they get the land for free and a grant from the city for 5.3 million when they end up owning the property?
@GabFitz
@GabFitz 3 ай бұрын
These are the types of projects we need more of!!!! Instead of just letting buildings rot and fall away why not give them new life and new purpose!?!! I always get so many ideas when I see big abandoned buildings but I don’t have the resources or funds to do anything about it
@organizedchaos4559
@organizedchaos4559 3 ай бұрын
because sometimes it cheaper to tear it down and rebuild
@jlee104
@jlee104 3 ай бұрын
@@organizedchaos4559 but the historical and sentimental value should also be worth something. Not every old building needs to be saved but some should as a means to preserve history.
@toomanymarys7355
@toomanymarys7355 3 ай бұрын
​@@jlee104they usually make substandard housing.
@farzana6676
@farzana6676 3 ай бұрын
​@jlee104 Sentiment of a building doesn't turn a loss into a profit. I also don't like how they kept it looking like a baseball field. They should have made it look like a beautiful park instead. With Roses, Trees, Walkways and a pond/fountain.
@zachary1011
@zachary1011 3 ай бұрын
PLEASE BUILD MORE LUXURY APARTMENTS THERE IS NOTHING!!!! WHAT WOULD WE DO WITHOUT MORE LUXURY APARTMENTS!?!!
@Geeksmithing
@Geeksmithing 3 ай бұрын
Thought for sure there would be a batting cage in the fitness center at least.
@davidanalyst671
@davidanalyst671 3 ай бұрын
let me introduce you to the concept of american lawyers
@CVSoprano
@CVSoprano Ай бұрын
@@davidanalyst671 An unfortunate truth. :(
@smarteveryday1606
@smarteveryday1606 3 ай бұрын
most interesting renovation project
@Unknown_Ooh
@Unknown_Ooh 3 ай бұрын
Interesting sure, but definitely not the "most" interesting
@apersunthathasaridiculousl1890
@apersunthathasaridiculousl1890 3 ай бұрын
@@Unknown_Oohwho does that title belong to then?
@sterlingmichel4445
@sterlingmichel4445 3 ай бұрын
I whish they had interview some of the tenants to get their perspective about living in the building.
@PoyneStar
@PoyneStar 2 ай бұрын
Went to a party there about 10 years ago while in college. It was in one of the adjacent buildings to the stadium. Apartments were nice but felt a bit industrial. The area of Indy it’s in isn’t the best… but isn’t terrible. It’s sort of in an industrial area but it’s still only a 5 min drive from the main downtown area. Can’t speak on the resident experience but there are definitely better-value places to live in Indy for a similar price.
@VulcanLogic
@VulcanLogic 3 ай бұрын
Nice work. But this screams "mixed use!" Nothing huge, just some shops and small restaurants along maybe one side. Maybe a small grocery like an Aldi's, Trader Joe's, or a Bridge Street Market like Meijer built in downtown Grand Rapids. Looks like there's still room for more development on the site.
@MarsJenkar
@MarsJenkar 3 ай бұрын
There isn't as much room as you might think. Most of the "empty" area of this place is the old baseball field, which extends fairly close to the street (keep in mind, the old outfield fences were preserved, so intruding on the field would be undesirable). The east wall is only about 50 feet from Harding Street, which isn't enough for a retail building plus parking. The land beyond the north wall already is developed, with a parking lot on that side. As for the surrounding area, it's basically all built up, and has been for a long time.
@udishomer5852
@udishomer5852 2 ай бұрын
This is America... If you don't need to drive to the grocer store you arr not fulfilling your role
@apeekintime
@apeekintime 2 ай бұрын
Give it a couple more years and they'll forget the whole infield concept and built more high efficacy units in the middle of that field and surround them with retail space. They never cared about the stadium - they saw dollar signs and kickbacks.
@MarsJenkar
@MarsJenkar 2 ай бұрын
@@apeekintime Stadium Lofts opened ten years ago, and they haven't yet done what you suggested they would.
@AndrewTheRadarMan
@AndrewTheRadarMan 2 ай бұрын
@@udishomer5852 America has had traditional style of developments for hundreds of years. It's oil lobbies and politicians that banned mixed use zoning, making it harder for Americans to start a business.
@soulman4292
@soulman4292 25 күн бұрын
In all reality $14 million is an INSANELY LOW number to redevelop this stadium. Kudos to these gents for putting a lot of time, love, and money into preserving history.
@John-zx6bf
@John-zx6bf 3 ай бұрын
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you.... prevent inflation*
@SierraLindeen-pi9we
@SierraLindeen-pi9we 3 ай бұрын
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. I make a good amount of money per week even though I barely trade myself.
@John-zx6bf
@John-zx6bf 3 ай бұрын
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some
@SierraLindeen-pi9we
@SierraLindeen-pi9we 3 ай бұрын
You trade also?, I tried trading after watching some videos on < KZbin but still keep making losses, how do you
@John-zx6bf
@John-zx6bf 3 ай бұрын
From my personal financial advisor
@SierraLindeen-pi9we
@SierraLindeen-pi9we 3 ай бұрын
This sounds so good and I would like to be a party to this, I there any way I can speak with her?
@aaregiel
@aaregiel 3 ай бұрын
Well done, I like their approach, and the result. Perhaps where the main entrance was a small coffee shop, and a tiny grocery store would have greatly added to the living quality of the residents.
@sparklelikeaghost
@sparklelikeaghost Ай бұрын
How many apartment complexes do you know of that have a coffee shop and a grocery store in them?
@aaregiel
@aaregiel 29 күн бұрын
@@sparklelikeaghost: It's very common, at least outside the US, to build town centers, and satelite centers of cities with such multifunctional buildings. In our municipality we are about to rezone some land, and allow more such mutipurpose buildings, as they are contributing to the linving quality, and lower traffic volume.
@borktheorc
@borktheorc 27 күн бұрын
@@sparklelikeaghost how many apartment complexes do you know of that are built on the husk of a baseball stadium? What a goofy question to ask.
@lorevyr
@lorevyr 3 ай бұрын
Amazing video, also showing the $ amounts is amazing
@Jay12Dizzle
@Jay12Dizzle 3 ай бұрын
A custom pool surrounded by foliage and a little park would have been awesome . An open field is just not that pretty in my opinion
@BaDazai
@BaDazai 3 ай бұрын
They should turn the field into a walkable garden with trees, plants and mini play area fir the kids.
@albertoderfisch1580
@albertoderfisch1580 Ай бұрын
Yeah, completely dumb to leave it as a bland flat space
@nitrorange
@nitrorange 29 күн бұрын
It could easily be a park rather than a lawn.
@Chris.Davies
@Chris.Davies 2 ай бұрын
Why wouldn't you landscape the old baseball field, and turn it into a wonderful garden?
@FauadShah-dk5rs
@FauadShah-dk5rs 2 ай бұрын
Because they wanted to keep the field as a historical/heritage site
@calhountubbs4031
@calhountubbs4031 Ай бұрын
Because this was a much, MUCH BETTER idea.
@malik2728
@malik2728 3 ай бұрын
Love stuff like this because it helps to keep some semblance of architectural culture rather than just tearing it down like so many other places have
@derkies2133
@derkies2133 3 ай бұрын
Why keep the gas on the field...make it a proper park and an community garden!
@SirD1
@SirD1 3 ай бұрын
Exactly! A green space would be nice
@bnwo
@bnwo 3 ай бұрын
They did the minimum investment is why.
@BatsiraiMusuka
@BatsiraiMusuka 3 ай бұрын
Did you all hear the part where they said they pour back profits into these projects? Or the part where they want to maintain the heritage? You go ahead and start your own project. We are always fast to criticize people who actually did the work.
@dronetestdaegan
@dronetestdaegan 3 ай бұрын
They took all the cars away, so there is no gas on the field anymore. I'd assume some leaked, but the grass looks nice for the residents to use.
@josephhobbs4754
@josephhobbs4754 3 ай бұрын
Hopefully they got some cash for crushing those clunkers.
@Caterations
@Caterations 3 ай бұрын
I've drove by this last year going to Gen Con a few times and wondered what it was like. Thank you @cnbc for putting this out here.
@TrailsTzar
@TrailsTzar 2 ай бұрын
Phenominal historic rehab! I watched this from the start, thankful they didn't tear down the old structure. These buildings serve as icons to a neighborhood and more effort should be taken to preserve them like this.
@BEASTIOU
@BEASTIOU 3 ай бұрын
Read the reviews for this place. The place has drive by shootings, break-ins, horrible security, paper thin walls, broken appliances...Indiana is a dump to begin with. This is just hype. I was thinking that the windows would be impact resistant and sound proof and you would be able to play baseball all night long...Place is sad, not amazing.
@landonkirk5444
@landonkirk5444 3 ай бұрын
5m in grants from the city, they put up 1.2M in cash and paid themselves 800k??? So they paid 400k and took a 6.5m mortgage on a 14m property. Sounds like highway robbery of the city to me
@Erizon
@Erizon 3 ай бұрын
Finest text book corruption here. If you have connections with people in power you can get any plot of land for a dollar.
@ArcticPrimal
@ArcticPrimal 3 ай бұрын
Yea, the city could've done this themselves. It seems they have friends in the city, and those friends will personally invest in the property or related ventures
@franciscVL
@franciscVL 3 ай бұрын
Yeah, sounds like a great investment for them. I'm, however, a bit unclear of the difference between the 1.2 million in cash and 800k in fees. Are those the ammounts they brought in or not?
@rickb3288
@rickb3288 3 ай бұрын
@@ArcticPrimal Ha ha ha ... right. As if a government, even in IN, can do something like this well.
@Objectified
@Objectified 3 ай бұрын
@@ArcticPrimal Oh please, you people...
@ViewFromADream
@ViewFromADream 3 ай бұрын
The word luxury has absolutely zero meaning in 2025
@AutisticMorty
@AutisticMorty 3 ай бұрын
Why is it the guys who never use a gym that decide what goes into a shared fitness room? 10 treadmills, 10 bikes, one bench, no squat rack. Reality: 1 person running on treadmill, 5 waiting to use the only bench.
@gothamt9843
@gothamt9843 3 ай бұрын
Equipments for apartments like this are often pre packaged. A lot more people do just cardio than weight lift. Hence the number of equipment is based on that.
@1knightero
@1knightero 3 ай бұрын
@@gothamt9843if u really wan to do cardio , u could just run the field . But no way for weight lifting . U only can do it with equipment .
@fliper4568
@fliper4568 3 ай бұрын
I think you over estimate how much the average person weight lifts
@AutisticMorty
@AutisticMorty 3 ай бұрын
@@fliper4568 I use the fitness room in the building so I see it all the time. 5 guys waiting for the bench, 1 person running on treadmill, and 19 empty treadmill/bikes that no one uses.
@IEIDIDO
@IEIDIDO 2 ай бұрын
I mean the fact that it doesn't have a functioning baseball diamond ruins it for me.
@YouCanCallMeReTro
@YouCanCallMeReTro 2 ай бұрын
In fairness it would cause a lot of broken windows and noise complaints.
@_ata_3
@_ata_3 2 ай бұрын
@@YouCanCallMeReTro You can put a net.
@IEIDIDO
@IEIDIDO 2 ай бұрын
​@@YouCanCallMeReTro 1) There are ways of protecting the windows. 2) Only ball fans would move in, so there would be no complaints.
@YouCanCallMeReTro
@YouCanCallMeReTro 2 ай бұрын
@@IEIDIDO Yeah you could protect the windows, at the cost of being able to actually have a view/good lighting from your apartment. I doubt they could book the place full just off baseball fans, that seems like a super niche/weird combination for real estate.
@thelegend2776
@thelegend2776 2 ай бұрын
It is very clear that this was mostly designed by engineers instead of architects...
@Ragnarok2414
@Ragnarok2414 3 ай бұрын
Baffles me that they did concrete for the bases paths. Why not make it a usable park. Total waste of an opportunity
@Jonas-nf2bc
@Jonas-nf2bc 2 ай бұрын
Because maintaining a baseball field is expensive. I think the residents should have access to the grass on the field however. Seems boxed in to me.
@Jon-fk3gu
@Jon-fk3gu Ай бұрын
Agreed. Totally ruins the field.
@walmars3curity
@walmars3curity 23 күн бұрын
Literally nobody is ever out there using it or the tennis courts... lol
@skyak4493
@skyak4493 3 ай бұрын
I think that may be the best $1 the city ever earned!
@tomektomek9836
@tomektomek9836 3 ай бұрын
They also spent 5M in grants which is free money for the developers
@MangoMotors
@MangoMotors 2 ай бұрын
​@@tomektomek9836 $5 million for a successful housing project is on the cheap side consider I've seen so many cities spend hundreds of millions on failed projects
@edubbs3528
@edubbs3528 2 ай бұрын
@@tomektomek9836 It is, but I'm sure it comes with strings attached...as it should.
@akane8615
@akane8615 3 ай бұрын
This would be nice alternative to dormitory.
@Findre37
@Findre37 3 ай бұрын
There is a similar project like this in Detroit involving the old Tiger Stadium.
@lal5555f
@lal5555f 3 ай бұрын
It kinda looks like a prison and yard situation
@xavierb9061
@xavierb9061 3 ай бұрын
They got $5 million from city to do this.
@landonkirk5444
@landonkirk5444 3 ай бұрын
And paid themselves 800k LOL
@carloscastaneda3
@carloscastaneda3 3 ай бұрын
As a grant, yes. It benefits the City to invest in projects like this that clean up undesirable locations and bring in new residents, businesses, and infrastructure, which in turn will bring in more tax revenue and better reputation.
@SirD1
@SirD1 3 ай бұрын
it's a win win
@SirD1
@SirD1 3 ай бұрын
@@landonkirk5444 risk isn't free
@KK-pm7ud
@KK-pm7ud 3 ай бұрын
And the tourism revenue probably offset it while providing good housing
@micmousebg
@micmousebg 3 ай бұрын
I am absolutely amazed. Such a beautiful idea - and realization! Lots of respect for these gentlemen!
@AntonSlizzardhands
@AntonSlizzardhands 3 ай бұрын
So your views are a concrete ball field with a chain link fence?
@02nupe
@02nupe 3 ай бұрын
what should they be, considering the historical significance to that area?🧐
@Objectified
@Objectified 3 ай бұрын
You mean a giant grass field? I agree that the chain link fence was probably an odd touch, and I'd suspect they'll replace them with railings over time.
@davidanalyst671
@davidanalyst671 3 ай бұрын
my view right now is a parking lot
@amarbaha
@amarbaha 3 ай бұрын
That is just so AWESOME that these gentleman had the insight and the will to do this. Great repurposing and nostalgic.
@grand_vacation
@grand_vacation 2 ай бұрын
Mannnnnn I love the recycling ideas!! If I had a bazillion dollars I would buy an old cruise ship, dismantle it and rebuild it on land!
@Dani1165
@Dani1165 2 ай бұрын
I can believe this only cost 14 mil.
@bobgeels262
@bobgeels262 2 ай бұрын
So they built 138 houses for 14 million, that makes the building costs per luxury apartment around 100k. We need more like this funded by the government to fix the housing crisis. Houses don't always have to cost 450k
@MS-lb7bg
@MS-lb7bg 3 ай бұрын
Love the idea. but totally not luxury apartments
@TAUNinja
@TAUNinja 3 ай бұрын
I think they titled it wrong, they said they rent for $950-$1700. Defiantly not luxury but it is nicer than your average apartment and I think its a pretty decent price in todays market.
@govecomm
@govecomm 28 күн бұрын
Plant some trees and an orchard and maybe a small pond, wildflowers. that huge area of grass is useless boring and dated.
@Lottosixs
@Lottosixs 3 ай бұрын
Today they house Indiana’s entire divorced dad population
@ThatOneArchie
@ThatOneArchie 3 ай бұрын
call the "luxury apartments yet the islands are wood tables ?? YEAHHH OK! ashahaha tf lol
@mr.w7803
@mr.w7803 2 ай бұрын
Pretty cool, but I think they could’ve made some better design decisions to lean into the unique property… like, why not use the press box as a community area? Or the gym. You have a WHOLE field outside, why not incorporate that? Or heck, make the press box the gym and have a killer view…?
@vernongomes
@vernongomes 3 ай бұрын
Michael and John could do this to Gwinnett Place Mall in metro ATL. My city has been talking about it for years and done nothing yet!
@craigm.5674
@craigm.5674 2 ай бұрын
Bummed…. They should still have games a couple weekends a month or rentable for weekend tournys
@mordsythe
@mordsythe 2 ай бұрын
The fact they made them affordable is what I love about it this project. I genuinely figured they would be “premium apartments” which translates to “add another thousand” Good job to them!
@kidistight
@kidistight 13 күн бұрын
Uh, did they though. The city was initially looking at $600 for the lofts I believe. However they are charging $1100. I don't know the wages in IN, however an extra $500 I'm sure hurts anyone right now.
@MrFreakout76
@MrFreakout76 3 ай бұрын
Huge miss not making the original infield a pool. That would have been the ticket.
@alexhara7020
@alexhara7020 3 ай бұрын
These are luxury??
@LoanShoppingExpert
@LoanShoppingExpert 3 ай бұрын
Why can't the infield be garden spaces?
@chicagoeconomist1643
@chicagoeconomist1643 2 ай бұрын
The whole concept is it’s a baseball field…
@Mike__B
@Mike__B 3 ай бұрын
This is a great project but... instead of the city hiring a company to build housing where it would largely be in charge of the housing, they essentially give property to a private developer and just say "just make living spaces, you can own them, and you can profit off them" Now sure the ROI isn't immediate by any stretch, but this is largely the problem with housing across US, cities say "we don't have enough affordable housing" and then they give away all their land to to private firms so they profit and at most the city gets property tax revenue.
@JD-pe7sx
@JD-pe7sx 3 ай бұрын
With direct ownership the city is directly accountable for all of the management decisions which isn't always great. Renters coming to city council meetings bc the rent goes up, lol. Maybe with a joint venture setup it can work though, idk.
@Mike__B
@Mike__B 3 ай бұрын
@@JD-pe7sx Oh yeah, I absolutely understand that aspect of it. But it's gotta be better in the long term than literally giving away land to a company and say "build something there!". Maybe own it and hand it over to a rental agency or something and they can deal with the day to day decisions.
@a13xp52
@a13xp52 29 күн бұрын
Let's be real here, If the government was in charge, the project would've taken 2x longer, cost 4x as much money to build, and then they would've subsidized the rent/cost by taxing the rest of us.
@pippas927
@pippas927 2 ай бұрын
this should've been a mixed use development with a public lawn! i'm sure its nice as a residential space but its totally a wasted opportunity especially if the city was trying to expand their downtown and craft a unique city heritage/identity.
@dickieeddiemkandawire4084
@dickieeddiemkandawire4084 3 ай бұрын
Amazing project. gave me some ideas
@pedrofan34
@pedrofan34 3 ай бұрын
Excellent idea to repurpose the stadium. It does sound like a highway robbery deal because they put $1.2M in, paid themselves 800k, and then took out a mortgage which will be paid by renters (with the rest being grant money). I looked up Stadium Lofts and it looks like it’s in an industrial district so not really any shops, restaurants, or stores nearby. Would have loved to see some offices or small stores incorporated on the property. Still a very cool place to live though
@faaqcee3
@faaqcee3 3 ай бұрын
I wonder what it looks like today.
@Musathenomad
@Musathenomad 2 ай бұрын
These apartments are expensive af. Went there 5 years ago to try and lease and 1bed 1bath was over 2k then when everything in the area was around 800-1200. Wonder what they are now.
@paulgilliland2992
@paulgilliland2992 3 ай бұрын
Strange looking but if it works for people. I think they should have installed hydronic radiant heating underneath those polished concrete floors but judging on how poor the interior cabinets and finishes are it’s not surprising these guys are all about cheap.
@andyo9930
@andyo9930 3 ай бұрын
Seems cool, looks cool, but concrete is a noise conductor. With the concrete floors and the building’s initial design purpose, I’m guessing the sound between apartments is probably pretty loud.
@Masterbest16
@Masterbest16 25 күн бұрын
Fallout 4’s Diamond City in real and current life
@kambennettproduction
@kambennettproduction 2 ай бұрын
5.3M in grants? that was a layup...
@goprovideos9280
@goprovideos9280 2 ай бұрын
The word "luxury" is so freeely used nowadays. These are decent apartments, but not luxury at all. Also a home should feel like a home not a stadium..... There are different ways you can honor the historical past.
@AlanSmith88888
@AlanSmith88888 3 ай бұрын
Did they use galvanized square steel?
@richmatthews7685
@richmatthews7685 Ай бұрын
I drove by here the other month.. these must be some old clips of the finished project because it looks like crap on the outside now.
@carmellabrown3335
@carmellabrown3335 3 ай бұрын
Dear Lord I ask that you surround me with people who have this type of vision. That is an amazing idea, kudos to them for making it happen. It looks beautifully done, I hope that they invested in proper infrastructure in the apartments are safe. Chef's kiss beautifully done❤
@brendanode
@brendanode 3 ай бұрын
Why wouldn't they let it be an active baseball field? Why wouldn't they make the pressbox a functional common space? Why do the apartment kitchens look like they're from 2005?
@YanikM
@YanikM 3 ай бұрын
thought the same exact thing
@02nupe
@02nupe 3 ай бұрын
My only knock is the baseball field isn't active (at this time), there is room to make the field and press box open I'm guessing. What's wrong with 2005 looking apartments?
@robertpuffer9721
@robertpuffer9721 3 ай бұрын
Pretty difficult to maintain a baseball field in playing condition without a full time groundskeeper. I get the concrete basepaths as that opens up entertainment options like wedding receptions. A baseball field can be very dangerous to your apartments windows also. I would love to live there as that outfield would still be great to shag flies or play over the line after work.
@Objectified
@Objectified 3 ай бұрын
They're not luxury apartments. The kitchens have cherry cabinets and granite countertops. You could find far, far, far worse.
@nonnymoose7005
@nonnymoose7005 3 ай бұрын
Foul balls could break windows, noise, etc.
@clebo99
@clebo99 3 ай бұрын
This is much better than my condo in Diamond City.
@MsTERRY4658
@MsTERRY4658 3 ай бұрын
God bless you guys. I wish more developers across the US would do this. Instead, of tearing down decent buildings and eliminating parks.
@thecaptainplus
@thecaptainplus 3 ай бұрын
why does it have to be luxury? Give us affordable apartments godammit
@mistermood4164
@mistermood4164 3 ай бұрын
the apartments start at $900 per month, that's pretty affordable
@BadMannerKorea
@BadMannerKorea 3 ай бұрын
@@mistermood4164 Pretty sure those are the studio apartments. There's also drive by shootings, which someone took a photo of the bullet hole in the window. lol.
@02nupe
@02nupe 3 ай бұрын
@@mistermood4164 folks just wanna complain, unfortunately in any top 40 USA city those pre-pandemic prices are not coming back
@tpatrickl9539
@tpatrickl9539 3 ай бұрын
I’m in Colorado. Most developments here are done with 20% affordable housing.
@Smile200-z4y
@Smile200-z4y 3 ай бұрын
Because they given up on a life for us. Skiing, sports, school used to be affordable. Now everything so expensive.
@dmacut8134
@dmacut8134 3 ай бұрын
Is the luxury in the room with us?
@Pr0toPoTaT0
@Pr0toPoTaT0 3 ай бұрын
This is dope. No other words. Youre charging what i pay now where im at to live at a baseball stadium. Cant lie though, something bout those flats look unappealing lol
@walmars3curity
@walmars3curity 23 күн бұрын
If you never been to the area you wouldn't want to live there.... The hood of the west side is right down the road
@rollingthunderinho
@rollingthunderinho 3 ай бұрын
amazing! fair rent prices too it seems
@marlinsly8863
@marlinsly8863 Ай бұрын
Diamond city irl
@lilspliffington3268
@lilspliffington3268 3 ай бұрын
Wavy this is the future of America
@celestialnubian
@celestialnubian 3 ай бұрын
I'm always in awe of a well done architecture / build project.
@webbgroup
@webbgroup 3 ай бұрын
Field not playable. No point reserving the field.
@Objectified
@Objectified 3 ай бұрын
Yes, there is. Preserving the historic field was part of the goal. Preservation often does not mean "making it available for active use."
@katibarrett8779
@katibarrett8779 3 ай бұрын
It's missing a pool.
@dierichvontrompel9665
@dierichvontrompel9665 2 ай бұрын
excellent idea, but the apartments look awful
@justteresiah
@justteresiah 3 ай бұрын
Very interesting
@bludybrains
@bludybrains 3 ай бұрын
Too bad the field is cement. Would have been cool to have the field playable for residences somehow.
@UncleLesterCam
@UncleLesterCam 21 күн бұрын
$6M in Cash from Tax Payers to fund this and CNBC conveniently forgets to give this color from the most popular review on a major apartment finding site: "I've lived here for a few years. At first, it was a fairly priced, unique apartment. The furnishings are cheap, and you're surrounded by college kids (i.e. noise and weed), but with each management change...things get worse. We are now officially at the point where if something is wrong, they just throw up their hands and say, "we can't do anything about it." SEVERAL thefts this week alone; mailroom, patios, cars being broken into. Upon complaining, you'll be met with such pearls as: "There's nothing we can do." "This is Indianapolis, what are you going to do?" "You shouldn't leave valuable things laying out." It's one thing to transfer liability. It's another to completely disregard any attempt to acquire any, and to blatantly say that to your residents."
@hartinggarth
@hartinggarth 3 ай бұрын
I love this community empowerment and affordable units and financing.
@RyanLynch1
@RyanLynch1 3 ай бұрын
i feel like the remaining field could be a park or something. it's great that this whole project happened thoughn
@SoCalFreelance
@SoCalFreelance 3 ай бұрын
Seems like a convoluted way to get a historic building tax write off or something.
@Objectified
@Objectified 3 ай бұрын
The you don't understand redevelopment projects. They added 138 units of affordable housing to an area that needed housing and is short on economic activity, and they did it while preserving a historic field and portions of the historic building.
@SoCalFreelance
@SoCalFreelance 3 ай бұрын
@@Objectified Many would argue the area the size of a baseball field not used for baseball would be better utilized for additional housing, walking trails, greenery, and a community center.
@rockopocko6944
@rockopocko6944 3 ай бұрын
hard nah
@BigHeadBob
@BigHeadBob 3 ай бұрын
0:50 seconds what song is this lol LOVE IT!
@Jaiden_ck
@Jaiden_ck Ай бұрын
Ludus by Michael Verhovec
@slow-moe3518
@slow-moe3518 3 ай бұрын
Always luxury apartments. Can't have affordable housing anymore.
@d-24
@d-24 3 ай бұрын
900 - 1700 $/month, average 1200$ a month, 96 apartments = 115.200$ a month. Spend 14 million to gain approx 125.000$ a month so he's getting his payment back in 112 monthswhich is about 9.5 years. So he's earning his money in 9.5 years.. pretty good deal!
@FreshTooDef247
@FreshTooDef247 3 ай бұрын
That’s 🧢 who sell a baseball stadium for a dollar
@ebbamb
@ebbamb 3 ай бұрын
Notice how much the city requested for them to accomplish with this build. It was the city who sold it for $1 to them under the agreement that it would both preserve some of the history and improve the area. It's much more beneficial to the city in this state than it had been as an abandoned stadium full of junk cars.
@xavierb9061
@xavierb9061 3 ай бұрын
$5million from city in grants do this
@SirD1
@SirD1 3 ай бұрын
@@xavierb9061 a win win for the city. It spurs growth and other projects for the city
@qzy-179SanTzxkW
@qzy-179SanTzxkW 3 ай бұрын
This brings a new meaning to the term "homerun"
@Uc000f
@Uc000f 3 ай бұрын
It would be beautiful if a nature reserve was grown in the middle of the field
@arribaficationwineho32
@arribaficationwineho32 3 ай бұрын
Anything better than living on a baseball field
@randywells9676
@randywells9676 3 ай бұрын
hey great MORE UNaffordable housing being built YEAHHH!
@mattski1979
@mattski1979 2 ай бұрын
Member in Big when Josh Bastion asks his secretary to get old Superbowl tapes without commercials from some department or other and Bastion's friend says , "you're the luckiest guy I know." That's me for watching what both of you guys accomplished. Great Job.
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