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Old Posted Aug 31, 2016, 7:24 PM
arctk2014 arctk2014 is offline
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Join Date: Mar 2014
Posts: 765
Originally Posted by DNR View Post
I was thinking the lilli may end up being condos, but apparently apartments still rule the day for now.

I remember back when I thought Midtown was overbuilding when Sky House North & South Midtown were being built along with 77/12th!
Wow, apparently that was just the “tip of the Iceberg” - I had no idea we would see such an absolute FRENZY of apartment development in Midtown. It will be interesting to see if the Condo market propels the next frenzy and maybe even the speculative office market will see some movement – eventually! Who knows.

I think these last few crazy years of development will be one of those “I remember when…” moments we can tell our kids about.

The apartment sub-market is starting to show more signs of self-regulation (the bubble some cynics claim will burst- even though it already has burst - it's just a slower deflating bubble instead). Novare announced they're cancelling the Cincinnati Skyhouse project due to rising construction costs and lenders tightening on financing terms - aka cheaper multifamily products (a la Skyhouse, etc) aren't going to cut it in this part of the cycle. You'll expect to hear about more higher quality (while still somewhat limited) projects either announcing or some more interesting projects to finally break ground in the coming few months.
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