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Sign of the Times for Downtown Rentals

Sign of the Times for Downtown Rentals
Publish Date : 07/11/2008
Bargain on Broadway: The owners of the Chapman Lofts at 8th Street and Broadway are looking for tenants to launch the building into its new role as a residential facility. Initial plans by the developer called for the units to be sold as condominiums, but that changed as the real estate market ran into rough territory, with sales and prices dropping throughout much of the state and nation this year. That led to a plan to lease the units at the Chapman, although the $99 deal on move-ins likely indicates softness in that segment of the market, too. The Chapman remains a bright spot for passersby in any case, thanks to an extensive renovation that has left its brick exterior clean and bright and provided an attractive new look for ground-floor retail spaces. It would no doubt look better with all of the units rented, at least as far as the developer is concerned. So here’s hoping that the $99 deal works and the real estate market begins to clear up soon.

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