kcantor
Senior Member
"market prices" assumes market costs being met as well. not only is the infrastructure already in place per archited's comments, i can also tell you on reasonably good authority that the underlying land cost - albeit it was incurred some time ago - is substantially below what it would take to acquire it today...Market prices would necessarily put them at or above the $1200, considering that older, non renovated and worse located units in the core are going for $1100 to $1200. But $1300 is attainable and would be a fair, payable price.