Trends in Multi-Residential Financing; Sizing

A Page project was recently featured in a Houston Chronicle article about the increase of global investors in large multi-residential projects. However, the subtopic of the article was that this particular project, the Astoria condominium building, is targeted toward homeowners ready to downsize, but who still want a substantial home. While the average home in Houston is 2,184 square feet according to Redfin, a Seattle-based real estate brokerage firm, the Astoria is catering to those leaving 6,000-square-foot homes who want to retain many of their current amenities in a 3,000-square-foot unit. It seems the Page design is already a success even though the tower is still under completion - according to the developer, 60 of the 75 units are already spoken for. 

To see the article in full, visit the Houston Chronicle here.