How are these doing?
July 3rd, 2007
A while ago I posted about the new condos that were being building the old Dennison building.  I don’t know too much about how many they sold, who is buying them or if people are infact buying them. I ride by this everyday but can’t really get a feel if they are lived in or mostly vacant. Does anyone live here (or know of someone who lives here)and have any word of if they like it?
There are a lot of for sale listings, but I don’t see that any have been sold. I’m not sure they’re even finished because the contractors filed liens and complaints against the owners, who also owed the town back taxes. Doesn’t sound like its smooth going over there.
Comment by Nancy — July 3, 2007 @ 9:36 pm
Their website (http://residencesatdennisontriangle.com/) still lists lots of available units, so yeah, I’d have to say this seems to be another stalled downtown renovation project.
Comment by Chad — July 4, 2007 @ 3:50 am
According to their own website, out of 84 units, they’ve sold 19. That’s only a 22.6% sold rate. I’ve seen listings on websites for these units but never any pictures; just “artist renditions”. And they’re kind of on the expensive side. Definitely not what I’d consider affordable housing. It’s a shame. I’m sure they’re very nice but I can’t see them going very quickly in this real estate market. I especially feel bad for the 19 people who bought. They’re kind of stuck.
Comment by Susie — July 4, 2007 @ 11:01 am
I’ve heard that the first closing should be taking place within the next 30 days or so. Hopefully that might spur more sales within the development. Although in this market…
FYI- There is some good Block Grant money available for income eligible home buyers. Up to $60k for down payment assistance and $5000 for closing costs. Great if you qualify.
Comment by Rich — July 5, 2007 @ 8:15 pm