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Posted on August 20 at 10:37 a.m.
Jarvis you obviously have no contact or relationships with the so-called "uber wealthy" for you're clueless...
#1 rule in business is to sell products or services to the available market. You dont try and predict the market or create it... you serve what is there. Your idea that if you build it they will come is indicative of a spectator, not a participant. I assume you've never built or run a business based on your naivete.
Let's see how many of these units sell. So far, not many. And your vision of this area of State becoming some sort of a destination is just stupid.... the tourists dont come up this far on the street. The city would be better served if they closed lower State to traffic all together and opened up the street to cafe's kiosks and small biz. State St should be closed to traffic in the summer. Its an idea that is overwhelmingly supported by citizens and small business owners. Let's do that before we approve another stupid mixed use building.
On The S.B. Questionnaire: Marge Cafarelli
Posted on August 19 at 1:05 p.m.
Jarvis seems either confused or borderline delusional.
Nothing about this development is geared for the market. It was/is a bet and one that I personally believe will fail based on the economics of the community and its insanely high prices.
I dont think Jarvis is either successful or wealthy nor does he spend much time with the uber wealthy for if he did he'd know they dont buy tiny condos.
These will end up as vacation rentals bought by out of town investors. That is a guarantee and I stick by my previous assertion that in a years time the market will be half empty and in process of leasing to a large retail corp. (I have spoken with several of the purveyors who have said they will / would not renew.) The rents are way too high and the traffic is much, much lower than they expected.
See for yourself how well this place is doing during the winter months when tourism drops and the foot traffic dies...
Posted on August 18 at 12:56 p.m.
Jarvis, what is your skin in this game?
As someone who is able to purchase one of these places, I stand by my assertion that they will not sell. Why would you buy a tiny apartment with low income neighbors for the same price you can buy a 2500sqft condo with ocean breezes?
Personally I own a 2.5 m home in SB and have another elsewhere... no one I know is interested in dropping this much for a small apartment. Why would you when you can rent a gorgeous home, stay in a great hotel, or buy a nice yacht for far less??
Again, who exactly is the target buyer for these places? They're touted as urban living for professionals but they'll end up as vacation rentals competing with the local hotels.
My guess is that you're one of the insiders on this deal... while beautiful, they're not correct for the economy or the community. Just look to the rest of the over 1m condos downtown for an idea of how well they sell or dont... there are many that have never sold including those at Chapala One.
And to top it off, who exactly are the folks buying the $40 a pound steaks or the $5 avocados sold by the shops inside the mart?
Posted on August 18 at 11:40 a.m.
This place is unsustainable. While very pretty the prices are just ridiculous. I cannot see how any of the fresh food purveyors could possibly make their rents let alone a profit... I predict the entire space becomes one multi national chain store within the next 3 years...
And who spends $1.2m on a 1bdrm condo? I have no idea... No one I know with the means or the money would consider those units... My guess is that they end up sold to wealthy investors and are on AirBnB 350 days a year.
You cannot engineer a community to act in the neo-progressive manner. The jobs downtown are low wage service jobs sprinkled with professionals like bankers, lawyers and accountants. Very few people are willing to spend $7500 a month for the privilege of walk a few blocks in a place like SB. Where traffic isnt a problem.
This whole project will go down in local history and an utter failure. I cannot image how much money she will lose in the process. Give it a year, the apartments will be empty and the stores will be closing.
Posted on June 24 at 10:10 a.m.
There is no longer anything funky about the funk zone. Its now a designated tourist stop and is printed in all the tourist guides and articles... What are they saying? That its an artsy, fun area with wine bars and galleries and of course, a strip club... In other words a non-homogenized area of a city that mostly looks like it was built and designed by Pottery Barn.
And in the way that the money and the lack of creativity has infected every other aspect of SB, the Funk Zone is quickly becoming devoid of color and creativity and uniqueness. Its only a matter of time before the chain stores open and the area becomes "revitalized" with $1.5m white stucco red tiled condos sold to retired dentists...
I'll wager that in 3 years, there will be Pilates studios, cheese shops, over priced women clothing boutiques and galleries selling 100k paintings.
The Funk Zone is dead, long live the Funk Zone!
On Building Manager, Cops Shut Down Mural Event
Posted on June 19 at 9:42 a.m.
Have these admin's ever met a bond measure they didnt like?
I'll vote no as we cannot pay off the existing bonds let alone more...
When will these people realize that forcing your children to pay for your excesses is not positive?
On SBCC Approves $288 Million Bond Measure
Posted on June 19 at 9:40 a.m.
Tenor is ridiculous and the fact that unions exist not to provide better education, but solely to protect their members (and themselves) is the problem. Whether its the backassward pay scale or the fact that its almost impossible to remove a bad teacher, the unions continue to prove that they dont give a rats ass about the children, only themselves.
As long as we allow inept, incompetent un-inspiring people to remain as teachers, we will continue to slip further and further down the ladder.
On Teacher Tenure Struck Down
Posted on June 16 at 11:29 a.m.
They should have given honorary degrees to those who were killed.
It would have been a symbolic but very kind gesture for the families.
On Rampage Victim Walks During UCSB Graduation
Posted on June 13 at 2:03 p.m.
This guy is a moron of the highest order. You simply DO NOT get involved with your student or your players. Ever! Heck, you shouldnt even date a subordinate in the professional world let alone an under age person.
I dont care what her parents thought (although it sure is telling of their morals and their culture) I do care that a 38 year old man thought for a moment that it was OK to get involved with a 17yr old and worse, that the 17 yr old was on his team.
What an idiot. Fire him and assure that he is never, ever hired as a coach or a teacher ever again.
On S.B. High Softball Coach Arrested for Sex with Student
Posted on June 13 at 1:04 p.m.
Like it or not we live in a market based society. Dont pay your water bill, water gets turned off... And under the rules of a market based society, those willing to pay the price no matter how high, have a right to buy what they can.
I'd rather we cut off Ag and forced hotels to cut their use. These businesses are where most of the water goes...
On Montecito Entitled to More Water?