Saturday, March 21, 2009

A News Brief Item

If you truely believe that condominium projects have all of their units being occupied by the owners of the units, here is yet another examply of why that just isn't so.

From the March 19 edition of the Random Lengths News comes this:

Some Vue Condos Will Be Leased

San Pedro—In yet another sign of the slumping economy, developers behind
the Vue condominium complex recently signaled that some of the
316 units will now be made available through a lease agreement,
as opposed to a for-sale basis.

The news comes on the heels of an event marking the building’s
grand opening, which was held earlier this month on March 7.
The event, which included a tour of the high-rise complex,
allowed members of the public to see the building in person for
the first time since its completion.

The announcement marks the second project in downtown and the
third condominium project in San Pedro to change its marketing
strategy in recent years. Along with the Vue, the Bank Street Lofts
and Seaport Homes, both condominium projects completed within
the past three years, moved from forsale units to lease agreements
after completing construction.

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1 comment:

Anonymous said...

apparently, less than 30 units have been sold so far.

at least, according to mr. pawlowski.

the rentals will go for $1,600 to $2,000.