Friday, November 04, 2005
A Great Night Downtown
Kudos to the folks at Orchard Development for the fantastic party to release the Ely Walker Lofts to the public. People started showing up at 10am for the party that began at 4pm. There was a fair amount of advertising and PR about these lofts, including the business section of the Post Dispatch.
Can too much success be a bad thing? Of the 173 units available, at 8pm, 66 had already been pre-sold with another handful of people still waiting to reserve. One of the party people that we ran into was getting ready to reserve his second unit of the evening. Usually developers want to sell enough to secure the construction financing and get the project approved by Fannie Mae. In this case they may have overshot that mark substantially.