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I drove up the 400 block of Flamingo Street a couple days ago to check out the new construction at the old Dearnley Mansion site. There are three structures standing so far (10 more are planned). The homes look very small and cheaply-made. Of course, they are also built right on top of each other. Yet they start at $500,000, according to the sign. Granted, Flamingo is a nice-looking, secluded block. But I can not imagine anyone who can afford a half-million dollar-plus home buying these crappy units.
Not to mention (as those of us who followed the Mansion demolition may recall), they may become haunted by ghosts................ |
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I passed by this construction the other day, but I didn't look at the sign. The houses didn't look very impressive from where I was, maybe they will look better close up. I'll have to walk by there again. I can't imagine anybody playing 500k for any residence in this city, even in this quiet, somewhat secluded area.
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I live one block from those homes and walk by them often. I can't believe how small they are! And yet, I'm surprised that they are going to be able to fit 10 more on that land. If I had 500K to spend on a house, I definitely would look for something bigger, and with more land. I would think that those homes should be placed in the $300-350k range.
It'll be interesting to see what happens... |
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My guess is that the Dearnley Mansion Ghosts will strike the developer for his short-sighted, cheap treatment/destruction of the property and there'll be trouble selling the units at those prices. They'll probably have to reprice as the market has been softening. I have not heard that they've been successful in pre-selling the units.
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