8 new Memphis condos

[sleepy]

Eight new 8 condo projects are under development on Front Street between Pontotoc and Nettleton, nine if you count the recently announced Mirabella project. Some of these have been announced before. The total units are 200. According to the article, downtown has 2,780 condos under construction, recently completed or planned.

More info and some renderings:

http://www.downtownmemphis.com/domain/news.../developer.html

[HKG]

Eight new 8 condo projects are under development on Front Street between Pontotoc and Nettleton, nine if you count the recently announced Mirabella project. Some of these have been announced before. The total units are 200. According to the article, downtown has 2,780 condos under construction, recently completed or planned.

More info and some renderings:

http://www.downtownmemphis.com/domain/news.../developer.html

Mirabella's condos will start at 600,000! How many expensive condos can the market absorb? The young and hip have and will continue to flock downtown if the price is at least within grasp. I don't know about the older crowd, who would be the likely residents of Mirabella. Will they continue to flock? 600,000 will buy a LOT of house in Central Gardens, a 5-10 minute drive to downtown.

And, the state above, 2780 condos under construction is nuts! I hope they all sell at a profit to keep the downtown movement alive, but the average price of a condo has skied. And, to be honest, I think some of the cookie cutter builders have begun stamping out their condos.

[sleepy]

Mirabella's condos will start at 600,000! How many expensive condos can the market absorb? The young and hip have and will continue to flock downtown if the price is at least within grasp. I don't know about the older crowd, who would be the likely residents of Mirabella. Will they continue to flock? 600,000 will buy a LOT of house in Central Gardens, a 5-10 minute drive to downtown.

And, the state above, 2780 condos under construction is nuts! I hope they all sell at a profit to keep the downtown movement alive, but the average price of a condo has skied. And, to be honest, I think some of the cookie cutter builders have begun stamping out their condos.

A few weeks ago, there was an article in the MBJ about all the houses sold in Shelby County above $500,000 and above $1,000,000. There were quite a few. And since downtown is the fastest growing part of the metro, maybe it'll work. But I too would rather have a $600,000 mansion in Central Gardens than a 2000 sq. foot condo downtown.

I notice from the map that a few of those projects surround funky Gus's. Shows how downtown has changed.

I don't know about the young and hip, let alone the middle-class. Seems to me someone could actually make a killing putting in condos around $200,000 in the area south of the Forum.

Which are the "cookie cutter" condos?

[HKG]

A few weeks ago, there was an article in the MBJ about all the houses sold in Shelby County above $500,000 and above $1,000,000. There were quite a few. And since downtown is the fastest growing part of the metro, maybe it'll work. But I too would rather have a $600,000 mansion in Central Gardens than a 2000 sq. foot condo downtown.

I notice from the map that a few of those projects surround funky Gus's. Shows how downtown has changed.

I don't know about the young and hip, let alone the middle-class. Seems to me someone could actually make a killing putting in condos around $200,000 in the area south of the Forum.

Which are the "cookie cutter" condos?

Cookie Cutter may be an exageration. Immediately, though, State Place, developed by Beazer, shoots in my mind as cookie cutter. I haven't been in one of them, but when it took a month to build a few dozen of these...

[CarolinaDaydreamin]

Boy the Phoenix is going to be UGLY! I like how the old Customs building wil become the Memphis law school. That building is beautiful. I wish Charlotte had old beautiful buildings like that, we only have new buildings.