Builder confidence levels in the condo market dropped in 2Q 2006. But on the other hand, apartment rentals reached record levels. The condo oversupply, is clearly reflected by the low level of apartment building vacancy rates. This is triggered by the recent conversions of apartments to condos.
By Vinnee Tong AP - When urban dwellers think of hotel-condos, they usually imagine sky-high city apartments that come with daily maid service, mints on pillows and the option to order chilled champagne for delivery at any hour.
More often though, hotel-condos are proliferating in midsize and smaller cities across the nation and, in some cases, transforming the places where they're being built.
Hotel-condo projects can be found in different stages of development in cities such as Berkeley, Calif.; Provo, Utah; Pittsburgh; and Little Rock, Ark. And they've been proposed for towns as varied as Yankeetown, Fla.; Asheville, N.C.; and West Wendover, Nev.
Austin has one such condo-hotel high-rise downtown and a 2nd one planned.