Carbondale Real Estate Market Update
The concept of “mixed use” is dominating the commercial landscape as the demand for practical building sites is rapidly diminishing in the lower mid valley. As a result, prudent investors are speculating on opportunities to upgrade older properties with the intent to capitalize on the area’s pending growth dynamic. Maximizing the “best use” of buildable square footage requires discipline and foresight.
The motivation is to obtain the best mix of residential and commercial product in a desirable, compatible setting while trying to preserve the local architecture and character of the community. Areas such as downtown Carbondale are perfect venues where one can embrace the live, work, and play concept.
Pent up demand for reasonably priced residential housing has created and, is in part, a driving force behind the need for commercial mixed-use product locally. Today, many new projects are in the planning process in anticipation of future growth projections, the expansion of Highway 133, and discussions of the impending design of the Market Place development.
Bill Blanton, Carbondale ”With new construction activity and renovation of existing buildings to meet the demand... I’m confident that 2007 will be a year to remember for the commercial segment of Carbondale’s real estate market.”