Austin55 posted this in another thread. Are rent comps (data) of some Downtown/NearSouthside/Cultural District apartment buildings.
Why, for example, does the Broadstone on 5th (aka the Braden on 5th) seem to command a $0.28/SF (14%) rent premium over the Elan on Crockett Row?
I would have guessed the Elan would come out ahead, given walking distance to every imaginable amenity for people in their 20s-30s, which the Broadstone/Braden seems to lack.
The only advantage the Broadstone/Braden offers is better access to the Trinity Trails. I think most of these are substantially similar in terms of amenity offerings and unit interior finishes, window sizes, ceiling heights, etc.
So my question is, what attributes or variables seem to impact rent the most? (focusing mostly on the location, but I welcome any comments on the on-site amenities and design elements that you think are meaningful in impacting rent. Focus of this question is the impact of each amenity on what rent the building can charge.
What amenities/community assets have the greatest impact on the rent premium apartment residents are willing to pay? (specifically here in central Fort Worth districts)
How much premium (rent per month) would you expect a building can achieve by being comfortably walkable to each of the below?
For all of us who arent in the market for one of these, we'll have to use our intuition (which is good enough for the discussion).
Assume each of the below is the kind that is existing in place (e.g. the kinds of restaurants, bars, parks, etc that we have currently in these districts).
- Trinity Trails? ____
- Park? ____
- Coffee shop(s) ____
- Restaurants? _____
- Bars? ____
- Grocery store/ convenience store/ small market/bodega?