01/21/16

INSIDE TRUMARK URBAN’S SOUTH PARK CONDO TOWER

As Trumark Urban prepares to open its luxurious 25-story condo tower at 1050 S Grand for pre-sales next month, we caught up with firm managing director Arden Hearing to get the latest buzz.

Ten50 replaced a parking lot in South Park with 151 condos, which Arden tells us are different from anything else going up in the area. He says though there are almost 10,000 units under construction, less than 1,000 are for-sale condos.

The project consists of one-bedroom condos, ranging from 679 SF to 902 SF, and two-bedroom condos ranging from 1,057 SF to 1,380 SF. There will also be one- and two-story penthouses, starting at 1,117 SF with the two-story penthouses hitting about 3,700 SF. Arden tells us no prices have been set yet.

Inside Trumark Urban’s South Park Condo Tower
Arden says the aim of Ten50 is to fill an important niche and create a boutique, intimate living experience. The plans include for it to be a place where the doorman will know your name and can accommodate all of your needs, he says.

Residents will also have access to what Arden refers to as the star amenity, which will consist of about 13k SF that will include a lounge, a pool, a fitness center, a yoga outdoor terrace and a drone delivery pad.

The project will also include about 5k SF of retail. Starting next month, buyers will be able to view vignettes of the building’s kitchen and bathrooms at the new, 4k SF sales center that Arden says will have an art gallery vibe.

There have been no condo projects built in Downtown since the 2008 bust, so there’s plenty of demand. And Trumark’s is just one of several new condo projects underway in South Park; others include Shanghai-based Greenland USA’s $1B Metropolis, Beijing-based Oceanwide Holdings’ $1B FigCentral, and Shenzhen, China-based Shenzhen Hazens Group’s $700M Hazens W Hotel and Residences.

Inside Trumark Urban’s South Park Condo Tower
To help enhance the neighborhood and get involved with community outreach, Trumark Urban was also involved in helping sponsor a new parklet, working with the South Park BID, on the block at 11th and Hope streets.

Trumark Urban is looking at other acquisitions downtown, which Arden says could include everything from large-scale, mixed-use projects to offices and residential opportunities as well as smaller projects the size of Ten50.

Ten50 is scheduled to be completed by year-end.

Source
Bisnow
Karen Jordan

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