Quote:
Originally Posted by SouthSky
I drove by the site just 5 minutes ago and it looks like the 50% is reached. Of course, the mere sight of construction or site work would probably entice more people to buy. I think I heard it is just a matter of acquiring financing.
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I imagine that was before the idea before the economic downturn. That project was announced just a few months to a year before the turn. I bet that was a promise based on them getting their financing at that time if they could get 50% presales. That may not be applicable anymore with tightening financing and the fact that it took almost 2 years to sell 13 0f 26 units.
The Dentonti project looks really nice. The nice thing about Detonti is that the are a few parcels open for new infill (new court house, these townhomes, several new single family homes) plus there are available parcels and other potentially removable structures that border the official boundaries of Dentonti Square historic district that allow for future expansion of the neighborhood if it becomes more desirable.
I am a little surprised to see new condos/townhomes/lofts being announced when there are decent number of available units at all of the completed projects (Carriage House, OGwynn, Mattress Factory, St Louis Lofts, etc). Seems a bit risky to add to a fairly saturated market. This will be the first project in that neighborhood which I think is more desirable than living in the more urban core of downtown. The condos in Detonti Square will be a little less scary to the suburban culture that is being reversed in Mobile.