If this downtown vision appeals to you, it’s time to crowdsource a living downtown in Bristol! We’ve posted eight residential types for you to select from so you can let us know what kind of homes you’d like to live in downtown! You can learn more in this Downtown Living 400 Campaign explanation video.
Below is a small video peek of the ‘feel’ for what you might expect in a revitalized Downtown Bristol! Please note this was created before we crowdsourced our beloved piazza!
Why a downtown living campaign?
If there’s no evidence of a market for new residences in the downtown, residential developers won’t be able to secure financing. That’s where you all come in! We need to build an identifiable community of interest in downtown living, starting with reaching a cumulative total of 400 Likes for the eight residential types, which you can start Liking here. From that community of 400, we’ll then be able to establish the Bristol Rising New Downtown Founding 50 (or Founding 50 for short), a community of 50 people willing to make history by being the first to sign a pre-lease for a home in the second coming of Bristol.
We’re calling this overall effort the Downtown Living 400 Campaign! In conjunction with the 400 Likes, you can get your name on the Downtown Living Priority List, a no-commitment way to get on the priority list for when housing does become available. Wouldn’t you want to get first crack at, say, renting a two-bedroom apartment overlooking the piazza? It’s also how we’ll be prioritizing those Founding 50.
A few rules and considerations!
- You can only ‘Like’ one residential type, so pick your favorite! (i.e. the one you’d want to move into)
- If you know someone who is in the market for downtown living, especially in the cool urban environment that downtown Bristol will become, refer them to register on the site and have them Like their favorite!
- If you are not interested in living downtown, but know someone who is, you can choose to sacrifice your Like and select the typology of choice for the person you know instead.
- There are wide price ranges and square footages attached to each typology. These are more discussion points than realities, as the fluctuations in the market and fluidity of construction costs can swing numbers at any given point.
What is the campaign strategy?
Different residential types and different prices mean different crowds, so it’s important to recognize that a range of strategies is needed. Younger folks tend to focus on smaller, more attainably-priced efficiencies or studios, or smaller two or three-bedrooms apartments to split the rent, and are often willing to be urban pioneers. People with families will be looking at larger units, and also tend to wait until a neighborhood is more established before moving in. Empty nesters may be seeking homes with more amenities and nicer features, and maybe more bedrooms for guests or working areas.
Either way, there is a national trend toward smaller homes and more fiscally responsible living – it’s good for individuals and it’s good for the economy, and we’ll be helping you ride that wave! Check out “Americans are moving on up to smaller, smarter homes”.
Are there incentives for referring people who register on this site and eventually lease?
We’re working on that and will announce something soon.
What’s the goal for reaching 400 Likes?
Midnight, March 30, 2012. Let’s do this!
Why are new homes noticeably more expensive than existing homes?
1. New construction has an associated cost that is often higher than the costs associated with existing multi-family product and hence must charge a higher rental rate. The average age of the housing stock in downtown is nearly a century old and even the newer existing product is in many cases 20+ years old.
2. New construction provides a host of amenities that older construction often does not including new finishes (ie. new wood floors & cabinets), newer and better crafted appliances (ie. dishwashers, fridges, stoves and washer and dryer in some cases), new HVAC for heating and cooling efficiency, better windows, and more functional and nicer bathrooms. These new amenities have an associated cost which need be offset by the rental rates.