I don’t see 11 as available right now (only 1 can be rented right now). However, there are some upcoming vacancies though in the next month that total 11.
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Not ideal this far out from opening. Not horrible but not good.chriss752 wrote:40 of 316 units available. A little over 87% leased. Not bad
My employers have considered 94%+ as the target vacancy. The metric varies who you ask I’m sure. I know Cordish typically maintains 95-100% at their highrises but I am less familiar with OCW.PeterXCV wrote:Correct me if I'm wrong but I think it's rare for a large apartment building to be 100% leased, so being almost at 90% seems pretty good.
Because Idai_phs’s function on this site is to (not so) subtly rag on StL while boosting KC. And a Kansas Citian can’t get more on brand than that, so at least they’re being true to themself.sc4mayor wrote: ↑Jan 04, 2023Earlier in this thread there was a post mentioning only 11 or 12 units available.
Not sure why we’re nitpicking minor occupancy fluctuations in a building next to a major medical school and two large hospitals. Especially at this time of the year.
No one underwrites 300 plus unit buildings with top of the market rent at 6% vacancy or less. 8%-10% is standard. 95% plus is typical of buildings with rents closer to the neighborhood median.ldai_phs wrote: ↑Jan 04, 2023My employers have considered 94%+ as the target vacancy. The metric varies who you ask I’m sure. I know Cordish typically maintains 95-100% at their highrises but I am less familiar with OCW.PeterXCV wrote:Correct me if I'm wrong but I think it's rare for a large apartment building to be 100% leased, so being almost at 90% seems pretty good.