Some interesting bits in this article. The new complex is targeting a price of $1000 – $1500/mo. Watch the absorption on this one with that kind of pricing:
The final phase of the high end brownstones downtown. It will be interesting to watch the absorption of these units. With three already supposedly spoken for they will provide a barometer for the high end of the residential market. The units at Cameron Harbor would be the competition for these in that range and with those providing boat slips and views for me it’s not a hard choice:
Here is a reuse idea for an older shopping mall that I’d never have thought of:
Smaller boutique projects like this one provide excellent variation and help to assemble an interesting fabric that makes the East Main area one of the most appealing places to buy into. As the remainder of the vacant lots and older storefronts are developed the values are going to keep pushing the stratosphere. People like urban walkable and will pay a premium to be in an aesthetically appealing area.
The convenience of these units cannot be overstated:
With all the prognostication of a downturn nationally it’s nice to see that the general sentiment for Chattanooga is for a more stable year.
No surprises here but good data to help in evaluating the market. Given that developers are continuing to build I’d say multifamily will be overbuilt for a while. Keeping in mind that if the ground price on a project is low enough and the focus on long term ownership some of these projects might make sense. For me I will be looking for those that paid too much and are upside down and need a buyout. That’s where the opportunity in the coming years will be:
Payless is the latest to succumb to the changes in the retail landscape:
There are three Payless stores in Chattanooga: Hixon, Hamilton Mall and Brainerd.
Many other cities around the country are working to refocus retail in their downtowns including Missoula. Many ideas to pass around and try as we work to enliven our downtown:
This will be an interesting addition to the North Shore and will anchor whatever else comes to this site: