There is a condo development near me in the heart of Hillcrest, “Atlas”. Their website says it is supposed to be ready this summer. They are still digging out the foundation, and it’s August, so they are running late, but like the other developments on 5th Ave, I’m sure once that’s in, the rest will go pretty quickly.
What’s interesting to me is how late all these developments are, in terms of the market. It seems like the builders would be gauging the markets very closely, and pulling projects that are deemed too close to sell through profitably.
I agree with you PerryChase that it must be hard to stop, and from what I read yesterday in the thread about building permit approvals, it must be so frustrating to start a project at the beginning of a hot market, and wind up releasing the product/building as the market is winding down, simply due to the red tape process. (Obviously I don’t know if that’s the case with this particular project.)
What is really nice however, is how much more inventory all of these projects bring to a zip code that last year literally had one page of inventory on Zip. Now there are probably 10 pages! And, when these complete, there’ll be more.
