[all pictures of Madrone model shot by reader "s". God bless their soul.]
A trusted reader (not STARCHY), emailed with more info on the Madrone development in Hollywood that was mentioned earlier this week. The models are out and info on retail is starting to leak. Trader Joe's not going in after all?? Lots to discuss. Via email:
I just left my appointment at the Madrone sales office in the Roosevelt Hotel. They have a very cool simulation of all the units, the views and the amenities. Price for the 2 bdrm corner unit I looked at which is on the top floor of the south tower is starting at $860K. The 3 bdrm units start around $940K, but there aren't many of them. One bedroom/Den seem to start around low $600's-$725K. The only units priced under 600K are for studios, but at 850 sq ft, they're big.
Regarding the retail, Trader Joe's is not at all a done deal, however it will either be Trader Joe's, Whole Foods or Bristol Farms. From what I could sense, they are planning/hoping on Bristol Farms. The other two retailers will be either a PinkBerry type place/Juice Place and a Coffee Shop...but probably Peet's, not Starbucks or Coffee Bean.
They are guaranteeing that the units will not be rented because they are basically forbidden to do so based on the financing of the project. However John Laing Homes apparently makes a "promise" to all homeowners, that IF the market crashes, all prices, prior to move-in will be evaluated and adjusted.