Discuss Detroit Archives - Beginning January 2007 Condo Buyers Previous Next
Top of pageBottom of page

French777
Member
Username: French777

Post Number: 132
Registered: 10-2006
Posted on Thursday, April 05, 2007 - 6:58 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

With all of these condo complex's being sold out or close to it. Example is that the New Center lofts 80 out of 82 are sold.

And that crosswinds by Brush Park they sold out in like 12 hours.

so with all of these condo places being sold FAST does that mean Detroit will experince a Pop increase or not really.
Top of pageBottom of page

Urbanize
Member
Username: Urbanize

Post Number: 568
Registered: 02-2007
Posted on Thursday, April 05, 2007 - 8:22 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

I don't believe so because as they estimate the pop. inside these buildings, the raw neighborhood residents continue to flock as their city services continue to worsen. So if anything, the pop. will slowly and steadily decrease. You can't have a city with a viable downtown without viable neighborhoods.
Top of pageBottom of page

Sharmaal
Member
Username: Sharmaal

Post Number: 1066
Registered: 09-2004
Posted on Thursday, April 05, 2007 - 9:37 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Most of these units are going to Young Professionals, DINKS, or Empty Nesters. At most two people in a unit. We'll have a net loss still. In addition, some of these folks are just migrating from different areas of the city.

(Message edited by sharmaal on April 05, 2007)
Top of pageBottom of page

Jdkeepsmiling
Member
Username: Jdkeepsmiling

Post Number: 237
Registered: 01-2006
Posted on Thursday, April 05, 2007 - 10:11 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Sharmaal and Urbanize,
You are both correct. The problem is that you did not think long term enough. Yes these people are migrating from all over the city, but the point is that they are creating coherent cohesive viable neighborhoods for the future. If they can stabilize a neighborhood then in ten years outsiders who would never had considered the area originally are more likely to move in. This is how areas and neighborhoods improve over time.
Top of pageBottom of page

Smogboy
Member
Username: Smogboy

Post Number: 4938
Registered: 11-2004
Posted on Thursday, April 05, 2007 - 10:16 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Even with the influx of people to those areas, I think there still need to be such things like grocery stores and other little amenities that need to sprout up around them in order for them to become true neighborhoods. We can sincerely hope that these places are the building blocks of an influx of people to the area.
Top of pageBottom of page

Jfried
Member
Username: Jfried

Post Number: 949
Registered: 11-2003
Posted on Thursday, April 05, 2007 - 10:22 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Smogboy - do you live in the city? WE DO HAVE SEVERAL GROCERY STORES. Stop spreading that ridiculous myth.
Top of pageBottom of page

Cmubryan
Member
Username: Cmubryan

Post Number: 413
Registered: 11-2003
Posted on Thursday, April 05, 2007 - 10:35 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

The Crosswinds loft community "sold out" in terms of people leaving a deposit within 12 hours however many of these people cancelled and there are still several condos available in that same community that was "sold out" over a year ago. Not to say that condo construction isn't doing well in Detroit because when I was looking it seemed as if they were doing the best (the least willing to negotiate) but sometimes developers exaggerate their numbers to create a sense of urgency.
Top of pageBottom of page

Johnlodge
Member
Username: Johnlodge

Post Number: 352
Registered: 10-2003
Posted on Thursday, April 05, 2007 - 10:40 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Same as anywhere Cmu. Drive by a new subdivision in West Bloomfield, you're bound to see the signs, "2 UNITS LEFT!". Funny those signs stay up unchanged for awhile. Funny the developer spends the money to make a sign that says "2 UNITS LEFT!" that can't be changed to "1 UNIT LEFT!" when one is sold. Hehehe.
Top of pageBottom of page

Llyn
Member
Username: Llyn

Post Number: 1787
Registered: 06-2004
Posted on Thursday, April 05, 2007 - 1:37 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

quote:

however many of these people cancelled and there are still several condos available in that same community that was "sold out" over a year ago.



Interesting. Source? (Not to sound unkind, but...) True? Still true?
Top of pageBottom of page

Jdkeepsmiling
Member
Username: Jdkeepsmiling

Post Number: 239
Registered: 01-2006
Posted on Thursday, April 05, 2007 - 1:41 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Llyn, this is true of all new developments. Most banks won't even provide a loan until a certain percentage of "deposits" are secured. I work at a building supply wholesaler and often manufacturing companies of windows or doors or cabinets will secure several units in a development through dummy checks just to get their product speced in the development. It is clearly a quid pro quo because the manufacturer gets product flow and the developer gets to build. The developer just never cashes the checks and suddenly two more units come on line.

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.