I see this building daily going up, I have done a couple of hard hat tours and I truley love it. But I am greatly concerned about the value and the general preception of the area. I mean, recently I hearead that Element is auctioning off condos…what will that do for the property value of everyone else. I also hear complaints that the neighborhood is not as luxurious as it use to be, and being that I go there a lot I am starting to agree. I love the area, I just hope that it doesnt become a failed case in the near future.
I love this building as well. Its foot print is phenomenal. In relation to the area. I think the area is fine. The auctioning of condos to drive sales unfortunately is a result of the times were in. I think once the office portion of Atlantic Station is fully built out i think that will help to change the perception of the area. Also remember in some ways AS is dare i say the crossroads (ala Time Square) of our Metro. So the cross-section of people will range from the Intown chic resident to the suburban house wife and kids, to thuggy people. AS wasn’t really intended to be really exclusive, if that was the case the shopping choices would be very very different. I think also the prices for some of the residential units were really higher than they needed to be and so a little deflation in the price points might actually help in filling in the empty homes.
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