Uneasy Rhetoric

Carl and his wife both sent me a link to a Business Journal story about Saca’s next planned condominium development, which will be on 10th and J Street, across from Chavez Park:

“The Metropolitan” would have 320 condos, an “infinity” — seemingly rimless — swimming pool at top, plus stores on the ground level. Saca hopes to start construction late next year, “if we can get city approvals and the market is there.”

The condos are expected to start at $300,000 and go up to $1 million for a penthouse. The article (and Saca) characterized these condos as being “a bit” more affordable. And, get this, the plan calls for two-story lofts above the ground-level retail!

The condos would range from 700 to 1,300 feet, which makes me skeptical of their true “affordability.” For most people looking to buy a home, except for the usual singles and seniors, I imagine 700 square feet would be pretty small. I’d be curious to know what people tend to consider the breaking point between too small and just right. I think 700 square feet is pretty small, but I also think 2,500 square feet is probably too big, especially if you have a three-car garage attached.

Still, I hope Saca can find his market for these because maybe it will inspire others to continue to think about bringing the prices down. The quote above is also the first time I’ve seen any of the developers add the caveat “if the market is there.” Keep bringing the prices down and I can almost guarantee it will be.

Aside: The Metropolitan would also have a rooftop pool. Apparently, these are all the rage in Los Angeles right now. You can’t build multi-family housing without having one. I think the whole idea of a rooftop pool (or park, or open space) kinda kicks ass, but I do worry about the liability. I don’t think I’d want to live in one of the units below the pool.