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Old Posted Jul 31, 2014, 4:33 AM
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wburg wburg is offline
Hindrance to Development
 
Join Date: May 2007
Posts: 2,411
Attached for-sale housing runs into that "get sued in 10 years" problem, but I have a feeling that a lot of the recently built apartment buildings will turn into condos once they are 10 years old. At least one currently underway project is doing a condo subdivision map and CC&Rs in anticipation of condo conversion once the building is a decade old. The for-sale detached units at 2500 R, and the last phases of Tapestri Square, have been snatched up like hotcakes since the boom started hitting.

There is very little detached for-sale housing on the grid--there are, all told, only about 2000 ownership homes, including condos (which are a small percentage) in the central city, 90% of central city housing is rental (including some single-family homes maintained as rentals.) There really aren't that many detached houses in downtown or midtown when compared to the number of apartments.

Good to see a parking structure headed for the chopping block, although the same owner is applying to open two more parking lots on 21st & Capitol and 20th & Capitol. Chop one's head off, two more emerge...
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