Quote:
Originally Posted by John Mercier
Not really that much different.
In other cities throughout the world, you can buy your apartment. Pretty much making it what we call a condo.
And even some condos are LTR.
It is really more a difference on the financial side.
The developer can reacquire the capital expense more quickly, and the investor can either inhabit or lease out the condo - not having to own the whole project.
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This is not "other cities of the world"... this is Laconia. There is a great need for apartment space. There isn't a huge need for yet even more expensive condominium space. There is also an obviously much lower financial burden to rent an apartment. Everything should not be about the developer! The City should have a balanced approach to development, that seem to have forgotten. If they approve this monstrosity for 5 floors, I hope they make the developer pay for a new ladder truck for the Weirs!
Woodsy