Lifestyle Residences for modern living.
The Harbor Lofts didn’t see any significant change in value from 2017 to 2018. With the continuing improvements being made to the surrounding area and the vicinity to Center Street and The Packing House, Harbor Lofts should continue to have strong demand in 2019.
Today, it seems Gardenwalk is only mentioned by local friends when they want to use their parking structure. When the place first opened more than 10 years ago, most didn’t even know there was an entire mall behind Cheesecake Factory and McCormick and Schmidt’s on Katella.
As a Real Estate guy, the first thing that stood out to me after the mall was more than 2 years old were the vacant dirt lots immediately on the outside. I became even more curious when taking a walk on the 2nd level and saw that an elevated path lead to a dead end wall.
There had to be something bigger that was planned, right?
Just like the debacle of Anaheim’s “A-Town” near Anaheim Stadium, the Real Estate crash of 2007/08 made developers delay or cancel many lavish projects. Prior to that, the City of Anaheim was undergoing a huge transformation with the Disneyland Resort District (which includes Gardenwalk), A-Town, and revamping the Downtown area. The initial concept was so big, Disney saw it as a threat to their newly built Downtown Disney.
From what I understand, these are the original highlights for Gardenwalk from Anaheim.net:
Today’s Gardenwalk has empty lots of dirt where the hotels were supposed to be built and just a normal parking garage. Please excuse the poor image as I had to use my iPhone to get a 3D rendered view.
What went wrong?
When the Real Estate market tanked, the developer David A. Siegel for the condos that were supposed to be built on top of the parking structure abandoned the project and tried to auction the rights. I don’t know what happened to the hotel projects.
For the mall, my guess is that the mall portion was never meant to be on it’s own without 1,628 hotel rooms and vacation rentals. At 50% occupancy, that’s an additional 800 or so walking through to use the restaurants and lounges. That’s 24,000 people per month. Without that source of foot traffic, you’re left with locals and Disneyland guests.
As a local, I can think of numerous reasons why driving to Gardenwalk would be a pain with their expensive parking (I’ve been charged every single time on top of my validation), confusing layout, and restaurants that I can find elsewhere. Additionally, the traffic from Disneyland, Anaheim Convention Center, and nearby Angel Stadium can make the commute frustrating.
For Disneyland tourists and convention goers, while many are drawn in from the restaurants off Katella, most don’t have any incentive to venture further into the ghost town of empty shops. The entrance off Disney Way is not a highly traveled street for both cars and pedestrians. For someone seeking nightlife, you’re far better off going to Downtown Disney.
When I reached out to my mortgage servicer to make a payment earlier this year, I heard the usual script from the representative on the phone:
“Has any of your contact information changed?” NO.
“Are you on active military duty and need assistance?” NO.
“I see that your address in in a FEMA disaster area. Would you like to hear more about mortgage assistance?”
Stop right there. What does that mean?
At first, I thought it only applied to homeowners who had their homes burned to the ground or damaged to the fires. NOPE — it also applies to homeowners who’s income was affected.
Just to be clear, FEMA does NOT give direct assistance to homeowners. The assistance and programs are done through Fannie Mae and Freddie Mac (Government sponsored enterprises who provide a secondary market by purchasing mortgages). I currently don’t know if FHA loans are eligible. More on that later.
Here’s the details on assistance from Freddie Mac’s website:
Here’s the screenshot from Fannie Mae’s KnowYourOptions website:
How do I know if I have a Freddie Mac or Fannie Mae loan?
You can use the Freddie Mac or Fannie Mae lookup tools. Or — you can contact your lender.
What if I don’t have a Freddie Mac or Fannie Mae loan?
Contact your lender regardless. However, if you can make a payment, continue to do so as it can affect your credit and/or change your loan status and face possible foreclosure.
For FHA loans, they were a bit on the vague side on the HUD website.
DISCLAIMER: Never assume that you’re eligible for assistance. Make sure you check with your lender. Missing payments can have many consequences including negative credit reporting and/or foreclosure proceedings.
If you’re considering the urban lifestyle in the revitalized City of Anaheim, there are 3 high density condominium complexes that often come to mind when blending lifestyle and convenience:
Public Transportation Access
If you’re one who relies on public transportation, Stadium Lofts edges out from being a short bike ride from The Arctic Center of Anaheim where you can access Metrolink and Amtrak. The Domain, Harbor Lofts and the Stadium Lofts can access bus lines and Anaheim Resort Transportation (ART).
Winner: Stadium Lofts
Vicinity to Restaurants, Bars, Lounges, and Shopping
I would have to go with The Domain of Anaheim for this category. The Packing District across the street has tons of options and variety of menus featuring Indian, Vietnamese, Fusion, and many favorites such as a prime rib sandwich or even grilled cheese. You also have Umami Burger and Anaheim Brewery. Live entertainment is offered on weekends and has the only speakeasy in the area, The Blind Rabbit.
While the Harbor Lofts is located in the same general area just north of The Domain, it’s a bit farther of a walk. If you asked me 10 years ago, I would’ve guessed the Stadium Lofts. However, nobody could’ve predicted the halt in construction as the plans for the restaurants and lounges on Katella have been delayed while residents stare at the empty construction site.
Winner: The Domain
Pool Area
When considering the ideal pool area, I’m sure many will have different preferences. My personal preference blends the overall pool experience I’d expect at a Las Vegas hotel: people watching, a large modern pool with clean water, jacuzzi, plenty of lounge chairs, nearby food and cocktails, and lively music. But of course, it would be too impractical for a midrise condo to have a functioning restaurant that services the pool area, so BBQ grills or a nearby common kitchen area would have to suffice. For the music part, that would be tough too.
My pick would be the large pool of the Stadium Lofts. To date, on my limited visits while showing these properties, this was the only one worthy of “people watching” as they have a nice younger crowd with a blend of ethnicities. The size of their pool is pretty darn close to a junior olympic-sized pool. The Harbor Lofts has a nice pool area as well, but the crowd wasn’t as appealing to me.
Winner: Stadium Lofts
Fitness Center
The newly renovated gym area of the Stadium Lofts wins this category hands down. With free weights, dumbbells, and plenty of cardio machines, residents don’t need separate gym membership. The Harbor Lofts has a much smaller fitness center while the Domain has no gym at all.
Winner: Stadium Lofts
Resident Parking
The Domain of Anaheim was the first high density design in the area to offer direct-access private garages on select floorplans. The hassle of putting on your shoes and taking an elevator down to your car is something many high-rise condo owners dread. Hauling groceries or forgetting an item in your car can definitely take it’s toll. With private garages, it obviously is the most secure of parking options.
The Stadium Lofts has a typical parking garage, but comes in 2nd place in this category as many residents are able to park on the same level as their unit — for at least one assigned space. The Harbor Lofts has your typical underground parking where you’ll need to rely on the elevator.
Winner: The Domain
Guest Parking
While all 3 communities have street parking nearby, The Stadium Lofts is the only one with indoor visitor parking. Residents are allowed a finite amount of visitor passes that allow them to exit the parking garage without paying.
Street parking for Harbor Lofts and The Domain can be quite difficult during peak hours of the nearby areas.
Winner: Stadium Lofts
Common Areas
With The Domain having a rooftop deck for viewing Disneyland fireworks and overlooking the Packing district and Downtown Anaheim, this category becomes really difficult. The Stadium Lofts has a recreation room perfect for parties with their pool tables, flat TVs, and industrial kitchen with plenty of fire pits, benches and picnic areas scattered throughout the complex.
Winner: 2 way tie between The Domain and Stadium Lofts
