O’Flaherty Builders, developer of the new Uptown mid-rise, 4616-20 N Kenmore, is only offering for sale seven of the development’s 21 units. The developer plans to offer more units once the initial offering is absorbed.
O’Flaherty also didn’t open sales until the building was virtually completed. Sales agent, Jay Kuchenbecker, of Sussex & Reilly, says the developer wanted to have the building already constructed because the company didn’t want to trawl buyers through a hectic construction site.
But the developer’s approach also was dictated by the fact that it’s the slow summer season, buyers are reading media reports of a slowdown and are taking their time, and there is an excess of inventory on the market, Kuchenbecker says. “People are looking at things two and three times,” he says. Buyers sometimes find it hard to envisage the finished product, so the developer is finishing all the units, leaving nothing to the imagination.