Sunday, August 3, 2008

1000 New Units

According to this story in the Southern, the moratorium passed by the city council last May puts a hold on the 1000 or so rental units that are on the planning board for Carbondale. Abut 850 units were constructed last year and another 400+ units beat the moratorium's cut off date.

Seeing all this development makes it hard to argue that C'dale has a poor economic future since given the current state of the housing market, it's not likely these developers are willing to risk the kind of money they are investing in their properties if they didn't see a significant upside to C'dale's economy. According to their banner, even Lewis Park is investing a million bucks in upgrading their units. Of course, the owners probably wouldn't have done that without all the competition coming from new development.

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