Cohousing-L Mailing List: RE: Rental Units & Starting Construction with 50% of Units Sold

[Deborah Behrens (debbeh]

Sharon & list
Here at Highline crossing, we started construction with only 24 of 36
units sold, and had a terrible time getting to full occupancy.  We ended
up about a year and a half behind schedule, with all our profit eaten up
in carrying costs.  We also took 4 of our larger unsold units and
divided them up into 8 smaller units in order to help sell them.  (that
was 6 months of the delay, and some of the additional cost, getting
zoning change from 36 to 40 units).  
Debbie Behrens, Highline Crossing, Littleton, CO

> -----Original Message-----
> Sent: Wednesday, July 15, 1998 2:39 PM
> Subject:      Rental Units & Starting Construction with 50% of Units
> Sold
> 
> Two topics:
> 
> Two Echo in Maine has rental units constructed by a member building a
> two
> family house with the intention of renting one half.
> 
> And I posted this over the weekend but never saw it on the list so it
> may
> not have made it--Does anyone have experience with starting
> construction
> with only 50% of the units sold? Is it true that units are easier to
> sell
> once they are under construction with a (fairly) definite move in
> date?
> 
> 
> Sharon Villines, Moving to Florida July 29
> Archives of Detective Fiction, http://www.fictionlibrary.org
> Synergy Cohousing, Delray Beach, FL http://www.cohousing.net