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Prices Keep Rising For Downtown Housing Development

Posted by: Nate Berg

31 October 2006 - 7:00am

In cities across the country, the trend of downtown housing development is booming. Prices per square-foot have more than doubled since last year in some cities.

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"In Los Angeles, the average price of a condo has risen from $250 a square foot in 2003 to $556 this year, said Dale Kemp, executive vice president of KB Urban."

"When Denver developer Dana Crawford started converting old downtown buildings into lofts in 1989, they sold for about $100 a square foot."

"Today, downtown Denver condos fetch up to $600 a square foot, and it's difficult to find an old building to renovate."

Source: The Denver Post via Chicago Tribune, Oct 29, 2006
Full Story: Downtown housing increases
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