Submitted by moisheah t3_11zqwg5 in WorcesterMA
Comments
legalpretzel t1_jddr5l8 wrote
Seriously. Our mortgage on our 4BR house (it’s small, ancient and came with tons of issues) is less than a studio apartment.
This is why we left Boston 7 years ago - because rent was out of control ridiculous - but the ridiculous prices have spread everywhere.
It has to stop somewhere, and the newer buildings should be more expensive. But the idea that increasing supply will lower costs is going to hit a barrier because all those overpriced 3-families that sold in the last 3 years aren’t going to magically drop their rent prices because those owners have mortgages to pay on buildings that are probably underwater now.
Edited words
NativeMasshole t1_jdevs6e wrote
Builders are also going to pull back if prices really start dropping. The idea that the free market and some zoning ordinances are going to fix this is ridiculous. This has gone on for way, way too long without the government directly investing in low-income housing. Obviously subsidizing rents ain't working.
dupattaluella t1_jdicll9 wrote
Do we have the same house?! Lol. We also have a 4br/1ba; it will be 1.75 bath once we enclose the laundry room with the random toilet and shower in the basement. But, it's cheaper than the rent for these studio apartments. Even adding in property taxes it's still cheaper than a studio.
Turbulent_Leg6503 t1_jdimycc wrote
Give yourself credit. I just read about 2 full bathrooms
dupattaluella t1_jdir7j4 wrote
I like my house for the most part. It's old and needs a lot of work, but we have almost half an acre of land and bought it when prices were lower (2016). It would probably go for $350-400k nowadays.
A_Man_Who_Writes t1_jddsr1r wrote
Moved from a $1000 1 bedroom to a $1,500 3 bedroom and regretted the choice for a while. Now every 3 bedroom in my area starts at $1,800 and my apartment is now the bargain deal
1upnate t1_jdegcjw wrote
I would venture to say these are probably targeted at people who are either single, making 6 figures (IT, maybe healthcare). or the DINK crowd. What they dont realize is that those same types of people wouldn't give worcester a second look when places like *insert any town inside of 495* exist and the rent is probably comparable.
my uneducated opinion anyway...
operator_1337 t1_jdeocae wrote
It is exactly for that.
I guess everyone is forgetting that the bulk of "critical infrastructure" jobs all make under 70k a year(not counting overtime and such). Force them all to move elsewhere causes shortages in critical positions. The biggest recent example is snow plow drivers, that's only going to get worse and worse every season. We will see shortages across the board soon and already are. I mean a Worcester firefighter or police officer couldnt even afford to live there.
Lolsmileyface13 t1_jdff8y3 wrote
it's pretty much this. I'm at another similar place in the region and for me it is worth the peace/quiet and nice apt (can never hear neighbors, very calm area) to pay a premium for my 1 bed + den after coming home from the hospital. Many of the people I see in the complex are either other healthcare workers like me or retired. It is definitely a temporary place though, no one would ever stay in a place like this - at least not a young person.
AceOfTheSwords t1_jdgufma wrote
Are they actually out of overpriced downtown apartment units? Because most of those seem like they'd be more appealing to that audience than this, if a closer town to Boston isn't available.
dupattaluella t1_jdicy94 wrote
And let's not forget that many IT related jobs, coding jobs, data analyst jobs, etc have become remote. More people can move wherever they want now. And I don't see someone who has that flexibility choosing Worcester.
CoolAbdul t1_jdenc4h wrote
Pharmacy students
delaneydeer t1_jdhcqmf wrote
also medical students, wealthy college students, early career pharmacists/physicians
CoolAbdul t1_jdhw20z wrote
Yup. Anyone with wealthy parents who is in Worcester for school.
moisheah OP t1_jddms9q wrote
Monthly rental prices at The Kiln start at $1,900 for a studio and $2,350 for a two-bedroom, two-bathroom apartment.
UsernamesAreHard26 t1_jddu0n4 wrote
$1,900 a month and you don’t even get a bedroom? Damn
Enragedocelot t1_jde3p10 wrote
in a terrible location
edit: only thing going for ya is the fact that you're near 190 / 290
bartnd t1_jddty39 wrote
Ha, to live across from what is slated to become an industrial warehouse in the old Showcase North?
KadenKraw t1_jdej4dj wrote
Who pays these outrageous prices? I don't get how these luxury apartments keep existing.
Glittering_Arm6908 t1_jddnubl wrote
jeez
lil_eidos t1_jdeg1jr wrote
Might as well move to NYC.
At least you can walk to a bodega or something.
Unlucky-Boot-6567 t1_jddo9a6 wrote
$1,900 for a studio? This place is a monstrosity.
Hibbo_Riot t1_jdfnjcz wrote
Granted what I am saying is ten years old and of course times have changed a lot buuuuuuut my 1 bedroom apartment was $2,100…in midtown Manhattan. The rent is too damn high. I don’t how people can afford to fucking live anymore.
your_city_councilor t1_jddr37z wrote
The place has an industrial-sounding name, markets Worcester's industrial past, and was designed to look ultra-suburban. Why wouldn't they at least cover the outside in fake brick?
inthe80s t1_jddvtj0 wrote
too expensive, same reason the WooSox park isn't fake brick
gnate t1_jdexac1 wrote
So instead, we got a shipping container
inthe80s t1_jdez6fu wrote
there are hipsters that would love to live in a shipping container, think of how hip that makes it
IOUAndSometimesWhy t1_jdf33b6 wrote
There's a bar in Austin TX made out of shipping containers called Container Bar lmfao. Very hipstery, very expensive... naturally
Sea_Establishment300 t1_jddr7o3 wrote
They also require you to make 4x what the monthly rent is to live there.
hardooooo t1_jde0bwr wrote
Can’t see many people making over 90k living in a studio so good luck with that
Sadtastic_Sam t1_jdfylas wrote
maybe in manhattan but def not in worcester thats for sure
outb0undflight t1_jde2whz wrote
The Kiln? You could name your building anything and the name you chose is what we use to burn things?
Weird choice, but okay.
1upnate t1_jdedwlh wrote
lol. The grid has a new competitor for the title of "worst value to price ratio"
Mbpmb11 t1_jddw0ml wrote
Too effing much...only answer.
Quirky_Butterfly_946 t1_jddt8js wrote
Is this the type of apartments people have been screaming for to ease the housing "burden"?
We keep on telling these hyper construction advocates that more housing will NOT lower housing costs, and we can see it again with this particular monstrosity.
Citizens need more say on what gets built and where, and how large.
--A3-- t1_jdfa0bi wrote
This does lower housing costs though. Somebody who makes a lot of money can live there. If these units were not built, you would be competing against those rich people in the rental market. Your landlord chooses not to renew your lease so he can give the apartment to Mr. Moneybags, and you need to go live somewhere else.
Less competition among renters is always good for renters. Just because these particular units are expensive doesn't change that.
orielbean t1_jdea3ye wrote
Until the citizens form a benevolent REIT and start making the change themselves, you will find this not an uphill battle but a total hoisting by your own physics-defying bootstraps as the RE owners are the same ones who spend their profits controlling the local zoning/mayor's boards, and usually replacing the ones who don't play ball.
Desperate-River-7989 t1_jdg9m5m wrote
You're not seeing the counterfactual. Imagine a world where this housing doesn't get built. Would prices be lower?
Also just because they're trying to get this rent now doesn't mean that they'll be able to rent it at that level. There were some similar apartments that went up near me in the city I was living a couple years ago. Units they were trying to rent for $2200-$2400 are now going for $1700. At the end of the day, prices are driven by supply and demand.
Aeschere06 t1_jde1rzt wrote
I fucking hate this
Enragedocelot t1_jde3vu8 wrote
oh for fucks sake! how does this shit stop?! I hate to see venture capitalist groups building housing. like jesus christ
becomingelle t1_jdepphn wrote
Fuck all property management companies that are not local. I'm a facilities director and done with residential properties because all the management companies are so bad I lost faith in humanity. Maybe that's where my nihilism comes from.🤷🏽🤷🏽🤷🏽
Apprehensive-Mode-45 t1_jdg1n2l wrote
I look at these types of places and I do realize that a good chunk of the price is the additional on-site amenities (Bike Room, Coworking Lounge, Dog Park, Fitness Center, Picnic / Grill Area, and yes, parking).
And yet. My sister rents a studio in an old but well maintained building in a nice but average neighborhood in Queens, NY and pays $1400.
Like, come on.
whatwhatwhat78 t1_jde5rfm wrote
This is insane. The two bedroom is almost double my mortgage.
Mikes_Movies_ t1_jdeigvk wrote
And here I thought Worcester would be a good substitute for living in Boston.
Anyone looking for roommates?
fireismyfetish t1_jdi4ks5 wrote
All comments on cost aside, these modern, stick built apartments that are getting slapped up everywhere in the country are ugly as fuck.
WooNoto t1_jde3jap wrote
Leadership of Worcester is fully dedicated to pushing out its current residents and ushering in a different demographic.
Who the fuck can afford any of these apartments? A studio for almost 2k? No utilities included? This is a JOKE.
This is not the housing anyone is asking for. Fuck the leaders of our city.
I promise you the walls are thinner than 1 ply toilet paper.
eljeffrey1980 t1_jde4157 wrote
Before moving, we sold a good condo on W. Mountain w/ 2br 1.5 baths. the mortgage, condo fees, etc were half that... smdh 1900??
AceOfTheSwords t1_jdgu4df wrote
I hope there's enough parking for everyone in this one at least. It's stuck between the interstate and train tracks, so basically nothing is walkable except I guess the Market 32.
Outrageous pricing, for a miserable location. I'm glad I was able to get a house before the interest rates started getting out of hand.
Kirbyoto t1_jddo38g wrote
I moved from a $900/mo 1br apartment to a $2000/mo 3br house. Sometimes I worry it was the wrong choice, but then I see that people are being asked to pay the same amount just to rent a studio apartment. It's ridiculous. Who are these for?