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Originally Posted by City Wide
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.
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Yep, it's a tactic employed to give an impression one way or the other. But, before committing, a walk thru through the building more than once at different times may give a clue as to how lively and occupy the building is if that is important to the renter, but more important to a prospective condo owner.
It's nice when Mormon's can self-finance a project. The Cathedral project is still looking for investors by the developer and I would assume if they can get financing in a year or two and two years worth of construction, then you are optimistically about 4 years out or so.
I have not heard about the high end town homes you mentioned. Where are they exactly and have they started or just a proposal?