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Originally Posted by 21bl0wed
How'd that work out for the second Vidorra tower? And how'd that work out for Alteza ?
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Obviously this is a different type of project. The units that were difficult to move were in a tower, and the economy went south.
The townhomes actually went quickly in Vidorra. A second tower never came into play of course, and the Alteeza units were at the high end. The Pearl location is not on the near eastside, it's become well established, and if you look at what residences are going for in the area those prices are not that outlandish.
Does it mean they'll fly? No, of course there is some risk involved. Others will be watching to see how the market responds. If I'm not mistaken, the condos just off Broadway (
casa blanca) are doing well. They're cheaper, but the property and location are different. It probably had some influence on this project going forward.
I am surprised the car wash market nearby never got off the ground, but that is all retail and retail has been kind of slow.