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Old 01-31-2013, 03:00 PM
 
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The condo mkt is pretty hot right now as well. Sold 20 in the past year. They probably need a good 20% in price per sq ft to make sense ...which I think we'll be at shortly.

We sold a unit in Troy Peerless across the street for $150k. Large one bedroom. I think the City Mkt could easily demand $175/sq ft currently.
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Old 01-31-2013, 03:40 PM
 
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That's great that condos sales are picking up, but isn't there still a lot of condo inventory out there? Would makes sense to put more on the market so soon?
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Old 01-31-2013, 08:51 PM
 
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Originally Posted by JoeP View Post
That's great that condos sales are picking up, but isn't there still a lot of condo inventory out there? Would makes sense to put more on the market so soon?
Actually not a lot of supply. Just hit a decade low. See link.

The right product will fly off the shelf. Ponce City Mkt is unique enough to generate high demand IMO. I just wonder what it costs for the developer to build.

Supply of condos drops to decade low - Atlanta Business Chronicle
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Old 02-01-2013, 03:45 PM
 
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Apartments are certainly hot right now but are they are a good thing for the city in the long run? I could well be wrong but isn't it possible condo owners might feel a greater sense of investment in the community?
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Old 02-01-2013, 03:58 PM
 
Location: Kirkwood
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Originally Posted by arjay57 View Post
Apartments are certainly hot right now but are they are a good thing for the city in the long run? I could well be wrong but isn't it possible condo owners might feel a greater sense of investment in the community?
True, but if Atlanta wants to attract and keep the creative class, nice apartments are a must.
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Old 02-01-2013, 03:59 PM
 
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Yeah, but it looks like all we are getting these days is apartments.
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Old 02-01-2013, 04:42 PM
 
Location: Kirkwood
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Originally Posted by arjay57 View Post
Yeah, but it looks like all we are getting these days is apartments.
That's what the market is doing currently. Capitalism at work. Eventually condos will make a comeback.
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Old 02-01-2013, 05:16 PM
 
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Its less risk and easier to do apartments right now because of the huge demand and high rents. I am sure they will eventually create some condos there and many will be interested.
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Old 02-01-2013, 05:44 PM
 
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Originally Posted by cqholt View Post
That's what the market is doing currently. Capitalism at work. Eventually condos will make a comeback.
I've discussed this with a couple of big apartment developers.

It seems to me that development should be driven by demand, rather than simply by where developers can borrow money. The latter approach is a big part of what drove us into the gigantic financial mess of the 2000s.
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Old 02-01-2013, 05:46 PM
 
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Originally Posted by noah View Post
Its less risk and easier to do apartments right now because of the huge demand and high rents.
Less risk to whom, though? I would expect many developers to build as quickly as they can, take the tax deductions and then sell to an institutional owner.

So who's left holding the bag in the long run? Especially if the apartments have an expected life span of 15-20 years?
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