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Old Posted Oct 5, 2007, 3:45 PM
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San Frangelino San Frangelino is offline
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Quote:
Olson bought the land from the city's redevelopment agency in 2004 after a previous developer abandoned plans for a 36-story, 480-unit rental tower, saying the rental market was too weak. Ironically, the rental market is now surging right around the time that project would have been coming to market, with Bay Area rents up 7 percent this year to $1,499 according to RealFacts.
OOOH...that hurts.
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