Thursday, January 15, 2009

downtown condos in trouble

901 Jefferson

The Oakland Tribune reports that those mod-looking condos at 901 Jefferson are in trouble. The condos are complete, but unsold. The combination of the real-estate downturn and the recession has lead to the developer defaulting on the construction loan. It's a shame with all the people in need of decent housing that these sit empty. One possibility to keep things afloat is to rent them until the condo market rebounds, so maybe they won't be empty for too long.

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