Entrepreneur plans obtainable rental units on an acre downtown
Date: 02/15/2013
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If the deal goes through, it would be the fourth major downtown property investment in the last two years for Jesse Biter.
Currently 1 Response
- 1.
- I would like to know where these "young professionals" that are targeted for these units are going to work. There aren't those kinds of jobs in the downtown area. The restaurant and retail workers who are the majority of workers downtown wouldn't be able to afford these price points. When the 1350 Main building was planned, it was supposed to be "affordable" housing too. Those units are 700-1100 SF, originally sold for $150K, now selling for $275-$350K. The "live, work, play" vision doesn't work if there are not the kinds of jobs in the area that will support these rents.
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