Thursday, May 17, 2007

Toll gives Colorado a 'C'

In a conference call discussing F2Q07, CEO Robert Toll issues his grades for performance in various markets:

Thank you. San Antonio, I said we haven’t got our product up and running as we should yet, so it’s only a C market, but suspect it is really a B. Northern California averages to be a C market for us, though there are some pockets that are Bs and some that are Ds. California southern market is a C market for us. California Palm Springs is a C market for us. Arizona, other than for the new special Wingate Ranch community, I would rate as a D-minus. Vegas is definitely an F. Reno is an F. Colorado is a C.


So there you have it . And here's the end of the call:

Timothy Jones - Wasserman & Associates

Bobby, this is the best breakdown that anybody gives, but you have quite a bunch more Fs than you had the last time. Does that imply that the business -- which I think you are saying -- is the business at best is going downward. Is that a correct interpretation?

Robert I. Toll

Yes.

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Finally, here's Seeking Alpha's latest agglomeration of housing-related articles. According to RealtyTrac's sometimes maligned foreclosures ranking, Reuters reports that CO came in 2nd to NV in April with 1 foreclosure for every 314 HH's, while among cities, Greeley was no. 3 (1:165) and Denver no. 10 (1:236). Nationally, foreclosures were down 1% from a two-year high in March, and up 62% from a year ago.

Sales & Marketing at Four Season



A press release announces that Distinguised Group will market the 102 residences at the new Four Seasons in Denver. Here's the pitch:

Four Seasons Private Residences Denver will offer homeowners professionally-designed dwellings of distinction, access to the services and amenities of Four Seasons Hotel, and the best of the city's surrounding arts and culture, entertainment, retail and recreation on their door step. It will offer a mix of floor plans from one-bedroom pied-a-terres to two-level penthouse suites, and have the added convenience of a multi-level, underground parking garage. The Private Residences will begin on the 18th floor and extend to the 45th floor with some of the most spectacular mountain, front range and cityscape views.

In addition to the physical features of the Residences, owners will enjoy 24-hour Concierge service to fulfill their every need, as well as access to a dazzling array of services including in-residence dining and catering by renowned Four Seasons chefs, on-site dry cleaning and laundry, turn-down service, housekeeping, valet and limo service. The residents will also enjoy use of the in-house spa, pool and fitness center, owners' private lounge and a host of other amenities.


Here's the copy from the official website:

Your new, urban-oriented lifestyle of convenience and comfort is now available in Colorado's capital city.

Other world-class cities have had them for years: Luxury hotels that include ultra-exclusive private residences. Denver has never experienced this kind of personalized service and unparalleled access to such premium amenities in an urban address; until now.

Introducing Four Seasons Private Residences Denver. The newest landmark-and an amazing place to call "home."

For the first time, discriminating homebuyers can have it all: The ultimate in Four Seasons Hotel services with the comfort and privacy of personal ownership. Majestic views of the Front Range and high plains of Colorado with the convenience of sophisticated downtown living. All this packaged together with a level of care and amenities previously unavailable outside cities like Paris, London and New York.

A completely new tower of 45 floors and just 102 luxury suites of 965 sq. ft. up to 6,100 sq. ft., the Four Seasons Private Residences offers all the Four Seasons Hotel services, facilities, and amenities of Denver 's first Four Seasons Hotel to its residents. Located on the 4th through 16th floor, the hotel gives the tower's private residents unequaled access to all its many comforts and services on an as-needed basis.

Living here means just about anything you desire is but a phone call away. Need someone to detail your car or water your plants while you're away? Arrange and cater a party for 30 at the last minute? Schedule an herbal body wrap, manicure and massage at a spa just a few floors away? It's as simple as picking up the phone and speaking with your concierge, available 24-hours-a-day and every day of the week. It's like being a treasured hotel guest while never leaving your own home.

With this week's groundbreaking at Spire and hope that 1401 Lawrence will go forward, the 14th Street Corridor has the potential to transform Downtown Denver and its skyline with some buildings that will loom large, and more importantly, add hundreds of residents to downtown.

Saturday, May 5, 2007

South Of Border

The LAT writes about the effects of the housing slowdown on Mexican immigrants working construction jobs. Nearly 3 million Latinos, 3/4 of them foreign-born, work in the U.S housing industry, according to the Pew Hispanic Center.

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The old adage, that a homeowner shouldn't be in the house when it's being shown to a prospective buyer, definitely applies in this case:

JANESVILLE, Wis. (AP) -- A couple who'd been checking out a house for sale in Janesville, Wisconsin got quite a shock. They found the 55-year-old homeowner dead in her bed.

Their real estate agent was standing in the dining room while Justin and Colleen McKeen walked through the home Monday night. She knew something was wrong shen she heard Mrs. McKeen scream.

The real estate agency listing the home says it had been on the market for a while. Authorities say they don't suspect foul play in the death of the home's owner, Linda O'Leary.

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Andres Duany talks abouts new urbanism [video]. A granny flat is a bedroom that has gravitated in the house so that it can be rented out. Planning departments, however, have vigorously stamped out this configuration as much as possible out of fear of duplex-ing a neighborhood and "overloading" a home.

Here's Duany's firms project tearsheet for Bradburn Village in Longmont (Colo.).