Quote:
Originally Posted by M1EK
Were you able to sense how surprised I was to hear it? This is the same exact pattern that happened with supposed TOD on Tri-Rail. Turns out people don't want to spend a premium to live near transit that isn't any good.
|
I doubt that is what is going on in people minds. Rail transit is a low consideration in the majority of peoples minds. We live in Texas for heavens sake.... where trucks and SUV's RULE. If I was going to live way up north, I would want a big yard and a big house with a big garage - that is the Cedar Park real estate market, like it or not. Want to be able to resell you property in Cedar Park, you better have these amenities. The developer knows that, and he is going to RISK his investment by addressing the market's needs.
If I want to purchase a little space stacked up on top of other people, then I will live somewhere that it has potential resale value, but not in Cedar Park. Small market - high risk of losing value.
This area would be good for apartments, not condos. Were they originally planning condos or apartments on top of the retail? Is this totally shot down now?