Wednesday, September 05, 2012

192 unit luxury apartment development in St. Louis Park. Will the market glut? Will the boom go bust?

Strib reporting. This link. $40 million for 192 units. More bucks per unit than Flaherty in Ramsey. Probably the St. Louis Park developers have to build and pay for their own parking. Probably they have to use their own capital, and bank money, with St. Louis Park not popping cash into the cauldron. Probably no town officials will have spouses on any developer payroll. But that is all guesswork. Going for the likely thing in most well managed communities is, however, a good guess.