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Residential Market Stats 

 
Despite the downtown turn in nationwide housing sales and the implosion of the subprime lending market, demand for City Center residential remains quite strong. Although investors are not participating in the same numbers as last year, owners occupants continue to shop downtown. As residential projects "go vertical" (near completion) demand steps up.

Following is a snapshot summary of City Center residential demand:

Occupancy Rates of Completed Residential Units in the City Center

Number of units completed

Number Sold/
Occupied



Percentage

Owner
Occupied Units

351

335

95%

Rental Units

2043

1803

88%

Condos for sale at various stages of development that are actively marketing


Project Name


# of units

# Sold/Under Contract

City Federal

84

52

Athens Flats

33

22

Liv-on-Fifth

37

19

Liberty House (conversion from rental)

20

Massey-Corral

4

Watts Tower (conversion from rental)

54

25

Leer Tower (just began marketing)

60

Total:

292

There are about 2,686 apartments and condos existing and currently under construction.

Apartments scheduled to begin construction in the next six months

Project Name

# of units

Block 121 (Corporate Realty)

258

Burger-Phillips Building

35

Park Place (Phase III)

237

Total:

530

The end result will be more than 3,200 apartments and condominiums and nearly 5,000 people living in the City Center once all these projects are complete.

Completed Owner Occupied Units

351

Completed Rental Units

2043

Units Actively Marketing

292

Units Firmly Committed

530

3216



For a comprehensive list of resdential development and City Center population projections, click here.


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