By the Numbers or Looking for the Next Big Wave - Fall 2018

The driving force for the success of our downtown is our residential base, which continues to experience phenomenal growth. This is the key data point forecasting success in all segments of our commercial real estate market. Simply – residential produces buyers and demands for goods and services supporting a plethora of businesses. The numbers – 253 new condominium and townhouse units have been completed in our downtown plus 879 rental apartment units. 1,100-plus residential units in a fairly tight geographic area screams demand for other products. Looking ahead 12 months and 973 condo units and 263 hotel rooms will be delivered within the same downtown geographic area. Generally, the condos are selling very well and the apartments are leasing. I forecast even stronger numbers for the 2018-19 tourist season as more people populate our thriving downtown.