Yet another development surrounding Winston-Salem’s taxpayer-funded stadium is announced:
Daniel Donathan, a civil engineer in Winston-Salem, plans to turn his office building at West First Street and Park Circle into upscale condos.
The project at 1022 W. First St. is on less than an acre and valued at $9 million, Donathan said. It will have six condos on two stories priced from $899,000 to $1.3 million. The average square footage of the condos will be 1,500.
…..Donathan is not worried about finding buyers.
He is trying to attract professionals between the ages of 40 and 55.
“Right now, this economy is affecting everyone, but the upscale activities are still ongoing,” he said. “That’s not something that you simply have big ups and downs in.”
I guess Donathan’s comment plays into the belief that the rich are getting richer and the poor are getting poorer, but I still question the market for such a product. So do a couple of commenters, considering the fact that, as ‘Obie’ says, ‘it’s not Yankee Stadium they’re building down the block, right?’
