New Condos - Who's gonna buy all of them? - Page 4 - PhillyBlog

niel · #31 (**permalink**) 08-11-2005, 01:13 PM

Well, I doubt SEPTA will make any improvements on its own, but I am hoping that this great influx of people into CC will have some incidental effects, such as luring more and higher-end retail back into the city, providing added pressure on state & local authorities to reform local transit, and maybe even...change the political dynamics of the city? I'm probably asking too much here, but one can dream, can't one?

Reds · #32 (**permalink**) 08-11-2005, 01:29 PM

Quote:

Originally Posted by mgiamo

There was a study done by a guy at the Inquirer who determined as much.

Do you (or anyone else) know who did this study and when?

Bryson662001 · #33 (**permalink**) 08-11-2005, 02:37 PM

Quote:

Originally Posted by mgiamo

What is happening is that Philly is getting EXPENSIVE - fast. More expensive shops, restaurants, real estate values, rents, condo fees, property taxes, bar bills, parking fees. Sky is the limit, going to eventually be like Boston is now. Great for Philly; things are looking UP for our fair city in this regard; bad for the folks who have low or "average" incomes.

One thing getting out of hand is resturants. All the new ones in my neighborhood are featuring $25-$30 entres and $8 sandwiches. I am doing a lot more cooking then I used to.

mgiamo · #34 (**permalink**) 08-11-2005, 04:15 PM

Quote:

Originally Posted by Reds

Do you (or anyone else) know who did this study and when?

Alan Heavens of the Inquirer did a story on the proposed 10 Rittenhouse Square condo recently and published surveys and statistics showing one-third of the high-end condo buyers in Philadelphia come from New York or Washington D.C., one-third come from the Philly suburbs, and one-third from the city itself. If that is the case, then the same demographics can be applied to potential buyers of the other high-priced condos going up around the city.