Texas & Pacific condos are almost all sold (Fort Worth)
Posted by Michael Pannell on Monday, August 31st, 2009 at 8:13am.Sales of condos in the redeveloped historic Texas & Pacific rail terminal building on Lancaster Avenue are going well, in part the result of the $8,000 first-time home buyer tax credit.
The T&P Lofts are close to being sold out, and owners are offering "special values" to sell the remaining 14 units, sales manager Mary Margaret Davis said.
One hundred ninety-two of the 228 units are sold, and 22 are under contract, she said.
Owners had planned to sell out in three years, and it looks as if they’ll reach that goal, Davis said.
"We’re awfully close," she said. "We’re right on track."
When sales began, the top buyers were folks ages 40 to 60, followed by people relocating to Fort Worth and then young professionals.
That’s now reversed, Davis said. In the end, the bulk of sales have been to young professionals.
Condo owners began moving into the building in June 2006. It is a project of Wood Partners in Houston and Renaissance Development Co. in Fort Worth.
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