Word: downtowners
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...Then the music stopped. "Our best guestimate - and we've talked to lenders and developers - is that you will not see a residential construction crane in the sky in downtown Miami for a generation," Zalewski told TIME. "Well, at least seven years," he said before modifying his forecast yet again. "Let's go with a decade," he finally concluded. Let's. The latest Case-Shiller Home Price Index for a 20-city composite showed that prices recorded a 1% drop in August and were down 16.6% for the past 12 months. Miami had a 1.8% monthly drop...
...proud of it." Getting it built and getting it sold are two different things, however. Many of the gleaming building's units remain on the market. Overall, Chicago's market is faring better than many. Roughly 75% of the 4,900 condominium units under construction in Chicago's downtown are already sold. But it's not out of the woods just yet - next year, the number of new units coming onto the market is expected to drop to 4,600, but only 60% are sold, according to Appraisal Research Counselors, a consulting firm that tracks downtown Chicago real estate. Developers...
...confess that I Facebook-friended him before freshman year because I thought he was cute,” Li said, eliciting laughter from the crowd. The pair started going out during their first year at Harvard. Li said that their first official date was in downtown Boston, where they went ice skating. “He didn’t know how to skate,” Li reminisced, “but he was happy to be there and happier to pull me down with him.” Cai’s mother told a story about...
...Sanford. The city's economic development director, Robert Tunis, tried for years to lure grocers to his city, about a half-hour's drive north of Orlando. Sanford's demographics are attractive: its population grew 27%, to about 50,000, between 2000 and 2006. Within a few miles of downtown, Tunis says, are households boasting annual incomes of $30,000 to $250,000. That's partly what has attracted retailers like Target, Wal-Mart and Lowe's. "You name the retailers, we've got them," Tunis says. "But we've been underserved by grocers...
...Aldi has solved at least part of that problem. Tunis was among the first to arrive at the grand opening of an Aldi store in downtown Sanford, next to one of Seminole County's largest shopping centers. Now he's hoping other grocers will follow Aldi's lead. "There's really no equivalent at the moment," he says. Deep discounters like Aldi can challenge both conventional supermarket chains as well as Wal-Mart, America's largest grocer. Indeed, Wal-Mart ultimately found it too hard to compete in Germany, where deep-discounters are firmly entrenched, and left...