The Neil P. is For Sale...Does This Reflect on Downtown Fort Worth's Market?

Posted by Stiles Mund Group on Tuesday, January 22nd, 2008 at 1:23pm.

Recent news that the developers of the Neil P. Anderson building on Burnett Park will be selling out the remaining 43 of 57 condos as a packaged commercial deal did not come as a shock. While the downtown real estate market remains in-tact, the Neil P had some challenges that were not addressed early enough in many people's opinion.
I share the opinion of Kevin Buchanan of www.fortworthology.com  regarding the Neil P:
"Naturally, hints are dropped about in [Sandra Baker's Star Telegram] article about the downtown housing market slowing, which is completely untrue, if you ask me. Downtown housing isn’t slowing. The failure of the Neil P. isn’t a symptom of anything more than a failed development. High prices, high HOA dues, and awkward parking arrangements are what did the Neil P. in, if you ask me. It’s a shame, because the renovation and condos were absolutely gorgeous.

The rest of downtown seems to be doing as well as ever, though. The Trinity Bluff stuff seems to be selling well. Pecan Place is expanding. The Versailles is expanding. Westview is apparently selling quite well. The more established places like Houston Place Lofts and the T&P Lofts are still full up. Even the megapricey Omni Hotel condos are selling, from what I’ve been told. Aparments, meanwhile, are still nearly completely full." -Kevin Buchanan, Fortworthology

I shared the exact same opinion with my fiance the night before Kevin wrote this blog. Seems as though doom and gloom sensationalism is for the media. I'll take a reliable and informative blog over mass media any day.

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