According to an article posted on MySanAntonio.com, the downtown multi-family housing market is changing and adjusting because of stricter lending practices for buyers and developers. Some proposed condominium projects are said to become apartment rentals and some projects are just waiting out the economic market. One of the new lending practices includes that 70% of the units be sold before a new sale in a project can actually be financed which, of course, makes selling condo units very hard.
The article goes on to say that St. Benedict’s on South Alamo Street is going to be leasing out units instead of selling them off as property. Changes in financing will also affect the Clay Street Flats project and Steel house Lofts.
However, the article definitely shows that there is demand for downtown San Antonio living. Several condo projects are said to be 70% and 50% full.
If you’re looking to move into the San Antonio downtown area, this might be a great time. You can rent at an affordable price and enjoy all the perks of living downtown. From theater to restaurants to shopping, it’s all downtown. From five-star dining establishments to bistros to local merchants and specialty boutiques, take advantage of it all by living so close. And to help you move, you can hire the very best in local San Antonio moving, the San Antonio movers. We are backed by four generations of moving experience and are licensed and insured. Our San Antonio movers have helped move entire families with all their belongings safely and carefully, from pianos, pool tables, boxes, entertainment centers, fitness equipment and more. Plus, if we don’t want to go through the hassles of packing yourself, our San Antonio moving crew could do it for you. Just let us know that you’d like the extra service when you call for your free moving estimate. With All My Sons of San Antonio, your moving day will be smooth from the moment our movers show up at your doorstep to the moment they’ll help you set up in your new downtown San Antonio apartment. You can expect a professional, reliable and efficient service with a smile.