Quote:
Originally Posted by biggus diggus
So we have a guy who has never designed a (constructed) high rise, a company who has never developed a high rise, an over saturated apartment market, and a location in which a new ownership​ team really needs to draw attention and create excitement.
Yeah, I'll wait here.
And don't a single one of you try to tell me the downtown market isn't over saturated in the upscale segment, rents are dropping and vacancy rates are rising.
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You are just incorrect. Here are the facts on Downtown's Top 20 High-value Multifamily properties:
Last quarter overall vacancy: 13.6%
This quarter overall vacancy: 9.8%
Occupancy last quarter: 86.4%
Occupancy this quarter: 90.2%
Concessions are down (good sign). They don't need as many incentives to lease up.
These figures are similar to totall Downtown multifamily regardless of quality. It's across the board.
Biggus-You have been singing the imminent death of multifamily song for sometime and arguing against facts with several on the forum. What repressed anti-apartment pain are you processing, dude? I'm curious. Thanks.