Quote:
|
Originally Posted by DruidCity
I don't know Montgomery all that well, but I'm guessing there's more of a pent-up demand than that. If it's like the rest of the state, there's a solid pile of would-be downtown buyers who simply haven't had anything to buy.
|
I'd have to agree with you, DruidCity. The way the small number of lofts that have been built so far are being snapped up as soon as they are completed (or before they're completed), seems to be a good sign of demand for downtown lofts. The fact that the strange-looking stucco building was purchased in order to turn it into 3 or 4 luxury condos looks like even more proof of that. Like you said, many are waiting for something to buy and are waiting for the bigger proposals; the attractive midrises and highrises in or near the Riverfront District. A study was done a fews years ago about the number of lofts downtown could support, but I can't remember how many. Maybe I can find the article somewhere, but I'm pretty sure it was more than 150.
That's good news for Thoraudio and his real estate partner's condo proposal.
