Downtown Residential - Winter/Spring 2004

Downtown will continue to captivate the interest of the press as some of the high profile projects pierce the skyline.  Residentially, downtown will offer  many options from high-rise with water view to townhouses on high trafficked Fruitville Road.  The top of the market is The Metropolitan.    Located at Gulfstream Avenue and US 41, The Metropolitan is under construction and boasts of  residential units starting at almost $2 million.  The majority  of downtown residential units are priced from $300,000 to $700,000.  The market depth is an unknown but seasoned  speculators are betting on the depth.  Market analysis tells us that over 70% of all downtown residential sales are secondary residences for seasonal visitors;  the real concern is that this seasonal residential use may not support the year round stability of downtown.