[Alto and Contraltro, 12 & 7 stories, 126 condos, 6,000 sq. ft. retail, 5 story garage, $34 million]

15 hours ago, smeagolsfree said:

I am trying to remember, but I think Contralto would be more for purchase as STR's & Alto is more for LTR's or Condo purchase.

The Contralto is for STR. They have gone back and forth on the Alto. At first, they indicated Alto wouldn't be for STR, then changed their mind based on the demand. Now, they are back LTR or condo purchase.

[Alto and Contraltro, 12 & 7 stories, 126 condos, 6,000 sq. ft. retail, 5 story garage, $34 million]

The only risk with the Contralto is if it takes them another 2 years or so to break ground, it might make more financial sense for Molette and his partners to scrap the plan and return the deposits to the buyers. 

I wonder if the dentist practice run by Molette's wife has moved out yet.

[Alto and Contraltro, 12 & 7 stories, 126 condos, 6,000 sq. ft. retail, 5 story garage, $34 million]

Anybody who bought these units below $300,000 are sitting pretty. By the time they are handed over in 2-3 years, they'll be worth $500,000 minimum with easy positive cash flows through STR.