A year ago, I wrote a tiny post that linked to a story about Silo Point prices. And goodness gracious, you've had a lot to say since then on the subject of the development in Baltimore's Locust Point neighborhood that transformed a grain elevator into condos. You're still commenting on the prices -- and the condo fees, sales numbers, etc.
I mention this because Lorraine Mirabella has a condo story today that includes details about Silo Point. No doubt all you commenters will want to take a look. In between commenting here about Silo Point, naturally.
Some of those details:
At the 228-unit Silo Point, [developer Patrick] Turner says he has 75 contracts, including 46 buyers who have settled and moved in. He says his strategy of setting prices as the condos are completed, rather than selling pre-construction, has preserved sales that otherwise might have been lost if buyers backed out of contracts after values declined. Last month, Turner opened sales in the final section of the now-completed project, where units feature huge windows, soaring ceilings, granite kitchens and exposed concrete columns.
And now, a few excerpts from the debate among you readers.
The frequent commenter is Baller, who says he (I'm assuming here on "he") is a future resident and calls the development a "masterpiece" that fits his housing requirements (including parking, deck and a good neighborhood). In a tough market for new condos, Baller said, it's selling well: "I find the price very reasonable considering what you pay $/per sq. ft. and the modern amenities (that are usable compared to those of The Ritz)."
When Tye2K called the price too high, Baller challenged him to go see the property in person. Tye2K reported back Saturday that the amenities appealed to him but not the surroundings: "Rusted trains and a working shipyard is not my idea of a view." But the real issue for him was his calculation of monthly costs: "Silo Point would be close to $1,400 in fees and taxes. - So, why would I *buy* a property just to pay in taxes & fees what I currently pay in RENT? - And remember, if something breaks, *you* are responsible for it."
Another commenter, Jaded, said he loves Silo Point and intended to buy there but was also turned off by price and property taxes. So, he said, he opted for a choice that doesn't cost him anything in city taxes -- he moved to the county.
What's your take?