Posted in General News
If there’s a tremendous silver lining in the cloudy real estate market, it’s multi-family. So when we look at the overall MRG portfolio of investments, it has been an exceptionally good year.
Of course had we had a crystal ball back in 2007 when we began development of The Laurels, a 40-unit condo community, we would have made a different decision. While we developed a great property, the timing was bad. Despite the major downturn in the housing market, we’ve stuck with the project. knew we had a very desirable product. As a Commercial Appeal article published this past summer reports, we’ve continued to make progress despite further market erosion in 2011. As we wrap up the year, we’re pleased to have 75% of the units occupied.