Originally Posted by JackBauer24
"Lamb's newest project, 17 floors, 251 units majority of which are 1 bedroom or bachelors"
Why? With the demographic change that's happening in the City (Baby Boomer's retiring, Gen. X and Y replacing them in the gov't, earning higher incomes, etc...) larger 1 bedrooms and 2 bedrooms will be in greater demand than they are today. Sure 1 bedrooms and bachelors will always be bought by investors, so is that who Lamb is going to target? And it'll just become a glorified apartment building?
That would be nice, but let's be realistic. One bedrooms today cost more than two bedrooms did less than 5 years ago.
The risk I see into buying into a building predominantly composed of 1 bedrooms is as you said 'glorified apartment building'. Because many will be buying them to rent out.