Development Watch: 414 Hicks Street
After months of delay while the community gave its feedback and the developer, L & M Development Partners, listened, the 148-unit project at 414 Hicks Street between Warren and Baltic continues to move ahead. When the construction is finished—in 2010, according to the developer’s website—54 units will be offered for sale and 94 for rent…
After months of delay while the community gave its feedback and the developer, L & M Development Partners, listened, the 148-unit project at 414 Hicks Street between Warren and Baltic continues to move ahead. When the construction is finished—in 2010, according to the developer’s website—54 units will be offered for sale and 94 for rent (though we assume that could change if the condo market stays as bad as it is). Hopefully this will provide a nice boost to the struggling stores and restaurants on nearby Columbia Street.
Columbia-Hicks Development Still Being Tweaked [Brownstoner] GMAP P*Shark DOB
“54 units will be offered for sale and 94 for rent”
why would someone want to buy in a place where most of the people there are renting? how would someone get financing to buy there anyway, with that many rentals? what am i missing?
Just to clarify-This project was never delayed by community input.The property was going through ULURP,during which time the developer and the community were working together.They had their financing all lined up right before the economy started to tank. It has pretty has stayed on schedule. The developer has done a great job working with the community and continues to do so.