The Future of the Downtown Condominium Market - 05/08/08 02:51 PM

We know no other condiminium projects that will break ground in the next year.  As high-rise projects require two years to complete, we do not anticipate the completion of any new high-rise projects until atleast 2011 or possibly 2012.
There are two factors that impact the future supply of condiminiums downtown:
First is the near absence of financing and equity capital-a situation abetted by the financial struggles of the major banks and investment institutions. Second, and of equal importance, is the rising costs of construction.  The condiminiums that are newly completed downtown, like The Mark andf The Legend, were bid out in 2004-2005.  … (1 comments)