Monday, August 28, 2006

Revenue Generators: Condos or Apartments

Read curious article over the weekend in Reuters that said developers who planned upscale condos were likely to down-grade the condos to apartments as a result of the slow housing sales. It would mean eliminating higher-end amenities to cut costs, but it was a way to complete projects.
”"There are definitely an awful lot of projects in the pipeline initially designed as 'for sale' that, I understand, can get converted as they approach completion," said David Seiders, chief economist for the National Association of Homebuilders”

Wondered if that is what will happen by the Trenton-Mercer airport where high-density housing is planned. If so I cannot see how the change would not have affect on the Ewing school system or help the township's revenue generation woes.




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