Quote:
Originally Posted by Knight Hospitaller
I never got where they decided to downsize this. Given the location I’m sure they could’ve sold as many units as they wanted.
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Ditto.
According to a friend that is in commercial real estate (and an investor in Philly)...the supply glut of luxury product that was feared never came to fruition. Apparently, it's been almost entirely absorbed.
I think there are a handful of notable exceptions (the remnants of the Piazza), but otherwise I think things are chugging along pretty much at full steam.
Good to see.
Further, I find it hard to believe Philly is growing at only 4,000-6,000 residents per year given all of this product and new construction, particularly in the ring neighborhoods, seemingly being gobbled up.
If we're not over 1.6MM in the next census, I'll be shocked and a bit disappointed.