Quote:
Originally Posted by esquire
^ In some respects, having two highrise condos go up a couple blocks apart might actually grow the downtown market and encourage buyers to come out of the woodwork. I'd feel more comfortable jumping in myself knowing that a condo-residential neighbourhood was emerging (along with the related amenities) vs. buying a unit in a tower that stands in a sea of office buildings and parking lots.
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It's interesting you say that because that's what I was thinking.
I remember a long time ago, I was working at Applebee's on Regent. Suddenly there were a whole bunch of new restaurants and I thought it would be bad for business. My boss said no, actually it's the opposite. He welcomed more restaurants because the more there were, the greater the area's drawing power.
I'm not saying it works the same with condos exactly but I wonder if it does. I imagine that people are more willing to buy into an area that they see improving and will be a stable investment. Of course, I assume you need to get the people actually in the area to achieve that critical mass so that makes the first step the biggest. Not so sure we're there yet.