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.
"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."
FULL STORY: Downtown housing increases
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