New Allegro Condos Looks A Lot Like New Park Place Condos

IMG_5607, originally uploaded by Prince of Petworth.

It looks like the Allegro condos just north of the Dance Institute on 14th St. is going up at about the same pace as the Park Place condos going up over the Petworth metro. I wonder if they are completed around the same time who is going to win out…

6 Comment

  • To me it looks like Allegro is ahead in that race, but its still early too early to tell. 🙂

  • It’s important to keep in mind that not all construction sites are the same (i.e., soil type, utility relocation) which can have major affects on the pace of construction.

  • Plus, thanks to the housing crash & mortgage crisis, there’s talk of a minor die-off of smaller banks with heavy investment in housing construction — including condos & multi-family stuff — So some of these projects, while starting strong, may be losing their financial backing? … I picture these building company execs scrambling around like fiddler-crabs in a cocaine frenzy, looking for investors gullible enough to believe in “new housing” before 2010… anyway…

  • It’s really disheartening to hear all the gloom and doom theories regarding housing. Are sales down? yes. Is construction comparatively slowed? yes. Will people stop buying new homes and stop renting new apartments altogether for a few years? of course not. It appears to me that there is never a complete halt of construction in key locations. People always need a place to live.

    Real investors know how to make money in an up market and in down markets. The rest of “investors” know how to make quick money in only ideal markets. The big boys (and girls) don’t back down. They don’t have to.

  • I wouldn’t worry. If they can’t sell Park Place as condos they have a plan to turn it into Park Place Nuclear Waste Storage & Tanning Salon.

  • Is park place ever going to start building up? It seems that they’ve been digging a hole for months.

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