 
French777
Member
Username: French777
Post Number: 132
Registered: 10-2006
| | Posted on Thursday, April 05, 2007 - 6:58 am: |    |
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. |
Urbanize
Member
Username: Urbanize
Post Number: 568
Registered: 02-2007
| | Posted on Thursday, April 05, 2007 - 8:22 am: | |
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. |
Sharmaal
Member
Username: Sharmaal
Post Number: 1066
Registered: 09-2004
| | Posted on Thursday, April 05, 2007 - 9:37 am: | |
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) |
Jdkeepsmiling
Member
Username: Jdkeepsmiling
Post Number: 237
Registered: 01-2006
| | Posted on Thursday, April 05, 2007 - 10:11 am: | |
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. |
Smogboy
Member
Username: Smogboy
Post Number: 4938
Registered: 11-2004
| | Posted on Thursday, April 05, 2007 - 10:16 am: | |
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. |
Jfried
Member
Username: Jfried
Post Number: 949
Registered: 11-2003
| | Posted on Thursday, April 05, 2007 - 10:22 am: | |
Smogboy - do you live in the city? WE DO HAVE SEVERAL GROCERY STORES. Stop spreading that ridiculous myth. |
Cmubryan
Member
Username: Cmubryan
Post Number: 413
Registered: 11-2003
| | Posted on Thursday, April 05, 2007 - 10:35 am: | |
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. |
Johnlodge
Member
Username: Johnlodge
Post Number: 352
Registered: 10-2003
| | Posted on Thursday, April 05, 2007 - 10:40 am: | |
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. |
Llyn
Member
Username: Llyn
Post Number: 1787
Registered: 06-2004
| | Posted on Thursday, April 05, 2007 - 1:37 pm: | |
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? |
Jdkeepsmiling
Member
Username: Jdkeepsmiling
Post Number: 239
Registered: 01-2006
| | Posted on Thursday, April 05, 2007 - 1:41 pm: | |
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. |