Charles Heimsath
Charles Heimsath
commercial increase increased owners percentage property rates since surprised values
I think commercial property owners are going to be very surprised by (this) increase in appraised values, particularly since in most areas, rental rates have not increased by the same percentage that the appraised values have increased.
employment growing growth high housing market number rate slower solid standpoint stronger
The market is much stronger now. From an employment standpoint it's growing in a number of different areas, not just high tech. The growth rate is slower and, in my opinion, more sustainable, and the housing market is on very solid footing.
acres build changes character create entire environment fact hesitant housing key means otherwise product sea
If it was a five-acre parcel, I think I would be very hesitant to try to build mid-range housing product in that location, but the fact that it's 50 acres means you can really create an environment that changes the character of the entire area. I think that's really the key to making this successful, because otherwise you're in kind of a sea of lower-income rental housing.
aggressive builders capture hoping major market match national product reflects sales throwing
I think it reflects an aggressive positioning of the major national builders to capture market share. What they are doing is throwing a lot of product out in the market and hoping that the sales will match the starts.
affordable areas building close downtown east land logical looking north people prices property rapidly west
I think it's pretty self-evident that land prices downtown have escalated so rapidly that people are looking for affordable alternatives. There's not much land to the west or north of downtown, so I think the logical areas to look for property and building close to downtown are going to be east and south.
project proposed retail second street support
The Second Street Retail District, as it's evolving, will support a higher-end residential project such as one being proposed (by Benchmark).