Want to live in Downtown Lynn? Tough! There are no available condos. I've said this before on the blog and have been shot down. I'm right. I might be being a bit dramatic. There is some smaller stuff and some larger units on Exchange Street that we're not interested, but all in all, there is nothing! This is a good problem, but it's still a problem!
A few days ago, my wife and I got fed up with the size of our loft, so we went to our real estate agent, the incomparable, Soraya Cacici of Nest Forward. Soraya recently put three people into condos in Downtown Lynn. I think she's so good at this that she's filled all the vacancies. Everything interesting for purchase is currently under agreement.
So I ask, where are we at with 14 Central? I'm hearing rumors it's not going to be residential anymore or only pieces of it are going to be. WHY WHY WHY???? EDIC recently began due diligence on a property to possibly build out as artist live/work space. Good for artists, not going to do me any good or the next me that comes to live downtown.
We need more inventory. Time for the next MV24 style development. Corner of Andrew and Central would be ideal. Takeover of some the buildings on Munroe would be awesome as well. Where are the investors? Are you watching?
I'm not buying the excuse that there's no market for condos anymore. There are two couples looking to move in and can't right now. I'm sure there are others that look and find nothing and move on that I never hear about. I'm also not buying the price excuse. The prices 5 years ago when we all bought were inflated. Period. That's true everywhere. We were operating with a broken model. They are corrected now, priced right, and selling. Develop accordingly, but for god's sake, DEVELOP!
I'm back and just spouting off as usual. Tell me I'm nuts in the comments below.