Quote:
Originally Posted by iheartphilly
^
--------------------- A check on Alexander's website should show what units are up for rent so that could give you an indication on how well it is doing.
|
Re units for rent. I don't know if The Alexander is doing this, but its not uncommon for the management of larger projects to only 'release' a certain number of apartments for rent at any one time. I imagine they think it looks better to only show 15 units available and not 100 or whatever the real figure is.
On a project like Cathedral Square even if a developer signed on today it would still be 2 to 3 years before they'd have a finished building to rent. Having deep pockets like the Mormon Church certainly helps when it comes to making a bet on what the future market turns out to be.
Would condos have a market in this area of town? Isn't there a very high end town house project just north of The Alexander? I wonder if being close to the Cathedral would be an attraction for some of a certain faith.
Threaded Mode