Friday, January 13, 2012

The Planets Are Aligning

Last month (Dec 18th) I wrote of the vibrancy of the downtown residential market.  In the January 13th edition of the Charlotte Observer, this story discusses the purchase of a piece of land, located next to The Catalyst apartments, that has been purchased by Childress Klein Properties.

The article quotes sources that underline the continued demand for downtown living and projects that it will remain strong even when condominium construction restarts.  Rents are also beginning to rise.  All good signs for people looking for property values to return.

This also represents further movement by Childress Klein Properties in the downtown market.  The One Wells Fargo building is currently being marketed by CKP for sale, and once it is sold, the company will be looking to further their investment in downtown property.

Just like the robin indicates the beginning of spring, this news indicates the beginning of the recovery.

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