Quote:
Originally Posted by alexico
any idea if the 14 floors will be rental units or condos?
assume mid 2013 completed?
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I don't think any of us know any of those answers for sure just yet.
My hope is for higher end rentals built with a quality that could potentially later be converted to condos. The PHX condo market is still light years behind the rest of the housing market which isn't exactly great. I can't imagine it making a comeback any time real soon.
Smart developments will be rentals. You've got to get young, hip, urban pioneers moving in first, which attracts places to eat, shop, etc. THEN the rich condo living yuppies can move in. A lot of places in Phoenix (44 Monroe, Chateux on Central) had it all backwards. Why would someone with the money to buy one of those places want to live where there's no/few places to eat, get groceries, buy clothes, do day to day shopping, etc.