I think pricing downtown is going to continue to be under pressure for some time, but the situation in downtown SD pales in comparison to that of Phoenix (referenced in the article).
But, more importantly, can I really take anyone with this photo too seriously? I’m sorry…
A downtown developer, Constellation Property (originally from Australia) lost the Stella project to the bank (built 2 years ago and been sitting vacant, unfinished).
Their other developments in San Diego and National City are on hold.
Their Lumina project in Tempe, AZ is built and in trouble.
If Phoenix is bad, Tempe is even worse.
I remember a conversation with that developer, Eugene Marchese — smug and full of it.
A downtown developer, Constellation Property (originally from Australia) lost the Stella project to the bank (built 2 years ago and been sitting vacant, unfinished).
Their other developments in San Diego and National City are on hold.
Their Lumina project in Tempe, AZ is built and in trouble.
If Phoenix is bad, Tempe is even worse.
I remember a conversation with that developer, Eugene Marchese — smug and full of it.
A downtown developer, Constellation Property (originally from Australia) lost the Stella project to the bank (built 2 years ago and been sitting vacant, unfinished).
Their other developments in San Diego and National City are on hold.
Their Lumina project in Tempe, AZ is built and in trouble.
If Phoenix is bad, Tempe is even worse.
I remember a conversation with that developer, Eugene Marchese — smug and full of it.
A downtown developer, Constellation Property (originally from Australia) lost the Stella project to the bank (built 2 years ago and been sitting vacant, unfinished).
Their other developments in San Diego and National City are on hold.
Their Lumina project in Tempe, AZ is built and in trouble.
If Phoenix is bad, Tempe is even worse.
I remember a conversation with that developer, Eugene Marchese — smug and full of it.
A downtown developer, Constellation Property (originally from Australia) lost the Stella project to the bank (built 2 years ago and been sitting vacant, unfinished).
Their other developments in San Diego and National City are on hold.
Their Lumina project in Tempe, AZ is built and in trouble.
If Phoenix is bad, Tempe is even worse.
I remember a conversation with that developer, Eugene Marchese — smug and full of it.
I told those downtown condo sales people in 2004 I would be back in a couple of years to buy at 1/3 the price. They laughed and the crackheads never sold out 5 years later… hahaha!
I told those downtown condo sales people in 2004 I would be back in a couple of years to buy at 1/3 the price. They laughed and the crackheads never sold out 5 years later… hahaha!
I told those downtown condo sales people in 2004 I would be back in a couple of years to buy at 1/3 the price. They laughed and the crackheads never sold out 5 years later… hahaha!
I told those downtown condo sales people in 2004 I would be back in a couple of years to buy at 1/3 the price. They laughed and the crackheads never sold out 5 years later… hahaha!
