Quote:
Originally Posted by chemgear
I remember looking the Orange Lofts when they were going up in the East Village back in 2002. They were saying the same things back then - plenty before the recession. 
You might be right about it becoming a better community at some point (perhaps 10-20 years later?) - like they said in 2002 as well. I guess it depends if you'd be interested in buying/living through that transformation, if it occurs however long it takes. Perhaps worth a gamble/investment if that's your thing. |
I hear what you're saying, but there's a big difference in one loft building and 2, $300 Million commitments from developers of this size. Also, the additional commitments that have been made by the city.
It will definitely take some time though, and the pricing on the new developments should be somewhat reflective of the fact it's "not there yet". I've seen a lot of areas in Vancouver go through the same sort of thing (Yaletown, Gastown, Main St.); so I guess I'm an optimist in great locations eventually turning around, and it is my thing.