I believe I ran into an article about the conversion of the old Mayfair hotel into a rental units , over 15 floors (200+ doors)
It`s suppose to be affordable rental units as well. So assuming if this is true, then we have construction of new apartment units.
I always thought the cost to build was prohibitively high, relative to rent levels.
So I know this is a bit of a broad questions, but how are the new developers able to make it work?
Your thoughts?
Kir.
It`s suppose to be affordable rental units as well. So assuming if this is true, then we have construction of new apartment units.
I always thought the cost to build was prohibitively high, relative to rent levels.
So I know this is a bit of a broad questions, but how are the new developers able to make it work?
Your thoughts?
Kir.