Joined: Mar 2005
Posts: 15663
What does it take to make a successful downtown Condo project?
7/11/2009 at 12:46 PM
With news now that the old McKenzie Seeds building has been bought and will be partly reno-ed into condos (along with apartments and commercial space), it looks like we have another developer looking to bring the North American downtown condo trend to Brandon.
It's obviously way too soon to speculate on how these particular condos would be setup, or how they'd be priced... but to date one could say that the concept of a downtown condo hasn't completely caught on with Brandon home buyers.
I'd like to have a discussion on what folks thing would make a SUCCESSFUL condo project in downtown, compared to a not-so-successful one.
This isn't intended to be a thread to debate the general concept of a condo. We know that that concept appeals to some people, and not to others. My intent is to discuss what COULD make a downtown condo project work for those that DO like the general idea of a condo (even if you don't necessarily fall into that category yourself).
Some questions to ponder..
- what type of pricepoint should they be at to have people considering investing in downtown real estate? This may include a discussion of whether a condo should be a "luxury" one, with a luxury price... or a middle-of-the-road condo with an appropriate price for one with a middle-of-the-road featureset.
- From projects in other cities, much of the appeal comes down to having everything one would need in day-to-day life within walking distance. What types of services should be within walking distance that perhaps aren't downtown right now?
- What other constraints do folks feel need to be addressed?
- What existing selling features of downtown could be highlighted?