[Durham INC] Rolling Hills, please help me with the math?

[Ken Gasch]

>From today's Herald Sun: "The first phase of the project, 132 mostly rental
units on a site next to Lakewood Avenue, would cost an estimated $20.5
million. "

That is a little over $150,000 for each unit.  No wonder the St. Louis
developer is not willing to put up any of their own capital. I wouldn't drop
a dime into that project. It must be that "new math" I have read about.

We have boarded up houses all over Durham.

Respectfully,

Ken Gasch
REALTOR®/Broker
Seagroves Realty
www.KenGasch.com
C: 919.475.8866
F: 866.229.4267
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