Friday, April 10, 2009

Flurry of Real Estate Activity

An apartment complex on North Graham Street between Eighth and Ninth Streets has been in and out of the news for the past 3 or 4 years. Originally, this site was to be replaced by a new development, and the plans changed several times over the years from twin hi rises, to a Fifth and Poplar type development, but all that has changed.

Tom Thornburg, the developer of Fourth Ward Square, has decided instead to renovate all the units in the complex (154), and sell them as condominiums. The amazing part is the level of detail of the upgrades, all Stainless Steel GE appliances, new cabinets, new countertops, new lamintate floors along with porcelean tile and carpeting in the bedroom. An incredibly attractive package.

The amazing part is that the prices begin at $99,900 for a small one (real) bedroom unit. Initially, the first phase of this development consisted of two buildings and 55 units. All but 5 of the units sold within 2 days, and in this market.

There is good news if you look for it.

1 comment:

  1. Yes, that is good news about the economy and for someone wanting to live downtown. I think it is turning around.