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Trace Loft Reservation Day

February 5th, 2007 · Comments · By Matt

So, which unit did you reserve? What’s your fall back plan? Hopefully they still have some units when I go in at 6!

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Tags: Trace Lofts

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  • Ken
    Not surprising, pretty much all second and 3rd floor units... Ones that people can actually afford :)
  • FYI, I've switched from 502 to 408. More on that later.

    What's reserved: 201, 202, 203, 204, 205, 207, 212, 301, 304, 306, 307, 312, 402, 408.

    They have no appointments schedule today though they have some scheduled tomorrow.
  • Rachel
    I am dying to know what is reserved. Can someone who has an appt today fill us in? Maybe when you go to bail you can take a peek for us Matt?
  • Ken
    oh, I read up in the comments that

    "If you ask, they will give you a +/- 30k price range on the units you are interested in (thats how we decided to go with 301 instead of 201).".

    so I was wondering what that would be for 204 or 304 :)
  • Rachel
    I am happy about 301. I felt bad since I knew you wanted it, but not bad enough to not take it. :p Ken, all the floorplans have the price categories on them. 204 and 304 are both in category II ($300k to $450k).
  • Ken
    Matt, why didn't you consider that Firehouse one for 380k? That would've seem like a perfect one for you...

    Otherwise, I still standby my pick, I think 204 or 304. (Anyone got the price range for those) Although now that I know the gunclub entrance is right there, maybe I'd reconsider... Either that, or you can always hope that business will be bad and they will shut down that bar :)
  • Foster
    That sucks, Matt! Do you get the reservation money back?
  • Yeah. Anything over $600/SqFt for Capitol Hill is insane and likely unsupportable unless you're occupying for the long term. Since I may move to San Francisco I need something I can get out of within a year and not lose my shirt.

    You two are very lucky getting 301 :). Hopefully something cool opens up at Monique, Firehouse or 1310 in the next six months at a more reasonable price point. I suspect this is likely given the influx of inventory by Trace and Trace North.
  • Rachel
    Are you bailing already? :(
  • FYI, if you want to bail on your reservation you need to get to the back of the line. Which is currently 5pm on Wednesday.
  • Heh. My realtor is advising me that $600/SqFt should be the upper most limit for Capitol Hill. Not a surprising recommendation.
  • Justin
    None of the sellers have figured out yet that we are not still seeing 25% appreciation... every month that goes by, everything gets 10k more expensive :/

    Sorry for stealing 301 :( 502 will be an awesome unit, if you can convince yourself it's worth the money :)
  • Floor to ceiling windows, 14' ceiling, 43 SF loft space, 60 SF deck, wood beams, wood ceiling and floor. It is compelling, but the price point is way high.
  • jo
    $687 or $750? thats INSANE.

    i got my one bedroom at olive8 for $625/sqft...
  • I put a reservation down for 502. The other one I was considering was 402. I was the first one to grab a unit on the fifth floor. The fourth floor was also wide open.

    However, at $687 or $750/SqFt, it does not comp well no matter how unique they tell me it is. It does comp okay sandwiched between the two other units priced just under a million.

    Searching in the $400-600k range on Redfin all the comparables are units at 2200, Olive 8, Cosmo, Fifth and Madison and Parc. With Rollin and Enso coming online shortly in the same price per square foot range there will be substantial inventory in this price bracket.

    Also consider that I could pick up a townhome in North Capitol Hill for $400/SqFt or a home further afield on QA or a home in the Central Area.

    I'm not feeling good about this. Kudos to Justin and Rachel for grabbing 301. That's the unit I should have taken all things considered.
  • Justin
    P.S. They updated a few select floorplans on thier website (not sure when). The new floorplans have minor changes and show an outline of where trace north will be.

    One of the minor changes I noticed is that http://www.tracelofts.com/pdf/lofts_204.pdf now has a sliding glass door instead of french doors.

    Also, as I found out, the reason 205 has no windows is that they were filled in with brick at some point and there is a huge crossbeam that is used for structural support (they have pictures at the reservation appt). In the newer floorplans you can also see that trace north appears to be touching trace lofts at that location anyway.
  • Brettro
    Though they may have poured an extra layer of material, I would still be concerned about noise from bar patrons congregating outside and also smoke from those people drifting in through any open windows.
  • Andy
    Mine was the third appointment -- Wanted 302, which was taken. I took the first reservation on 202 and second for 302.
  • Justin
    Update: If you get the unit of your choice, at this time, you cannot make a backup offer on any other units. Backup offers are reserved for people who did not get thier first choice unit.

    Sounds fair
  • Justin
    As of the end of my appt. 302 and 301 were reserved.

    301 going to Rachel and I.

    We originally were going to reserve 201, but once we got a better idea of what pricing was like on 301, we decided to take the step up for the better view.

    Right now we are inquiring about doing a backup (2nd priority) reservation on 201 just in case (no idea why really, it was the wife's idea, and sounds like a good idea :) unless it costs another 10k).

    More info:

    Bar will be below unit 203, with the entrace below 204. It's expected to be relatively quiet. They poured and extra layer of jib-crete(sp?) to insulate against sound.

    They also have a few interior photos available, it was really nice to see the insides. The brick, ceiling, beams and whatnot are going to be very rough, which I like.

    Yes on pets, up to 40 lbs each, limit of 2 I think.

    If you ask, they will give you a +/- 30k price range on the units you are interested in (thats how we decided to go with 301 instead of 201).

    I think thats everything.

    Good luck with your reservations everyone!
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