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Where are the $200-300K condos?

brick

By brick
in Providence

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runawayjim Metropolis

runawayjim

Posted
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The conversation seems to have turned to housing downtown, rather than in the rest of the city. I think most families would want to live in the more residential neighborhoods, near schools, parks, etc. rather than downtown, so I don't think it would make much sense to build apartments downtown targeting families.

If you're talking about 1- or 2-bedroom apartments downtown for $200K-$300, you're talking about single people or couples (young with no kids, gay with no kids, or some other no-kids configuration) making 120%-150% of the area median income (which is way higher than median income within the city). Your original assessment is probably right, that there just aren't enough jobs here paying that kind of money to pre-kids aged people.

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runawayjim Metropolis

runawayjim

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Pumpkin, you're not even married yet, you should be snuggling 24/7. :lol: We just celebrated our fifth on the other hand. The boyfriend is in the living room watching a DVD and I'm in the office on UP listening to Iceberg on Sirius. We need our space. If/when the Cornish properties go condo, I'd totally be in them measuring where the walls would be going. Lofts look nice in design magazines, but they aren't terribly practicle for more than one person to live in.

Been there, done that. Come hell or high water I'm in Providence for the long haul. My biggest nightmare is being priced out and having to live in Cranston. :shok::sick:

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dgreco City

dgreco

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That's what you think, I send her links. :lol:

I'm eager to see progress on the East Providence waterfront, but fear I'll be priced out of that before it's even built. I would love to walk to work via the new Washington Bridge park, it would be so civilized somehow (if it comes off as proposed).

The 'bucket is certainly on my short list of refugee options, the 99 bus actually makes the 'bucket a better car free option than most neighborhoods in Providence.

The East Providence waterfront is only a mile further from my office than I am now.

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eltron Hamlet

eltron

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The 'bucket is certainly on my short list of refugee options, the 99 bus actually makes the 'bucket a better car free option than most neighborhoods in Providence.

The East Providence waterfront is only a mile further from my office than I am now.

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c.a.haynes Unincorporated Area

c.a.haynes

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the fiancee is in CT and i'm here on my computer delaying my departure... :D thank god she doesn't read UP.

when we live together we need lots of time apart. thank god she doesn't like late night drinking sessions during the week...

i don't want to be priced out of providence either, but i'd go to the bucket or east prov before i go west. i just don't want to live in a real suburban area.

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gregw Hamlet

gregw

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I would agree with Liam that kids are not as expensive as many assume. For one thing, they come with deductions and tax credits that offset some of the costs that come with starting a family. I think as well that people spend their money differently once they have kids--less eating out and recreational shopping and so on.

We have three kids and 1 and 1/2 incomes and are definitely middle class. We were lucky enough to buy our house in 1999 before real estate went crazy. I feel for people who are starting later but it does look like the real estate market could cool off a lot in the next year or so. Also all these "luxury" condos will become more affordable as the pool of empty nesters, yuppies, and college kids with trust funds diminishes.

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Cotuit Megalopolis

Cotuit

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The EP waterfront sound like it's going great guns. There are two big projects under review and a couple more in the pipeline. From what the developers were saying at the October EP Waterfront Commission meeting, the Phillipsdale Landing project's Phase 1 will be condos priced between $200-$300K. Right on the water!

www.eastprovidencewaterfront.com

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ruchele Hamlet

ruchele

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I have no idea how we would do it if we hadnt bought when we did. What made it work for us was buying a 3 family house in 2000 when they were still affordable. When we first bought the place it turned a small profit and we were living on 1 floor, and now we live on 2 floors and rent out one and it just about pays for itself.
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Dan Hamlet

Dan

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"a model of urban revitalization" ...Wow. An urban waterfront village. Sounds funny but I like the idea.

From a quick look, this site is much more attractive than the previous one from the city. Nice first impression of EP from a potential investor's perspective.

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