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sandsonik t1_izudhng wrote

Reply to comment by FunLife64 in New design for Fane Tower keeps height the same by Rogue-Island-Pirate

And at no point have these high end, luxury apts relieved the housing squeeze for the rest of us. Incredibly, it seems to make every slumlord think they can charge even more for their apt.

So what makes you think this time will be different?

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FunLife64 t1_izuqgs1 wrote

Housing prices in a city or state will not change based on a small number of projects (most of what’s been built recently downtown are 4-5 story buildings too, small).

The housing availability downtown was already bad, so they are simply fill in already existing pent up demand (which is why these newer buildings are filling quickly).

This is a much larger project in terms of volume, but the years and years of resistance isn’t helping. This project won’t be done for a while, so not gonna affect any prices now.

Also, the coined “luxury high end” is simply not true - it’s all marketed that way. As someone who’s lived in major cities, they aren’t that fancy.

They are, however, apartments in a desirable downtown area in a city. Those will never be “cheap”. People on here seem to think living in the heart of downtown in a new apartment should cost $1200/month. That’s not really how real estate works.

PVD needs bigger residential projects in other areas of the city.

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