One of the biggest game-changers to hit downtown recently is Matherne’s Market, tucked into the first floor of the apartment building 440 on Third. We asked Meghan Ogans, who manages properties at the apartment complex under Weinstein Nelson Management, about the present and future in the area.
How intense is the demand for properties right now?
There’s actually a pretty long waiting list, especially for a one-bedroom, so I would say that there is definitely a large demand for downtown living.
What’s the biggest demographic flocking to downtown?
A lot of people are coming here for work, so we definitely cater mostly to young professionals.
Do you feel like there’s still a sense of neighborhood among your residents, even in an urban apartment building?
I do. You leave your apartment and take the elevator down to the first floor to go get breakfast at the breakfast buffet in Matherne’s, and you’re running into your neighbors.
Is there anything about living in downtown proper that people may not realize?
It’s a lot more convenient than people think. There’s so much now that’s within walking distance that it’s almost to the point where you wouldn’t even need a vehicle.
Do you think the smartest strategy for prospective renters is to get into downtown sooner rather than later? How is your company preparing?
I would say so. There are already several more high-rise apartment communities just like ours coming open just in the next year, so I would expect [residential options] to at least double. I do think rent is going to go up in the area. I spoke with our owners, because I really want to make sure we’re not skyrocketing our prices just to keep up with our competition, because that’s going to help us maintain resident retention. I would rather keep a resident that’s been there for years and values their long-term residence with us than just see how much more money we can get out of them.