The Other Shoe Drops – Domaine
According to the Daily Journal of Commerce, Intracorp has offered Domaine up for sale as apartments. The project is listed for sale on the Moran & Co. website, view listing here.
In response to questions about the listing, Intracorp said, “Domaine has not been sold and we are currently selling condos and townhomes” in the development. “However, Intracorp is evaluating market conditions and working hard to provide housing solutions in response to the demand.” It offered no other comment.
Also, Matt’s post and DJC article.
Not surprised as there’s been speculation on both Expo 62 and Domaine for several months now. While it does speak volumes about the current market, the sale of both of these projects as apartments actually helps the condo market in the long run. If Domaine does sell, that’s another 91 units off the market in addition to the 114 at Expo 62.
These events will also impact the other proposed projects that’ll ultimately strengthen the marketplace. Vulcan has shelved The Martin project at 5th & Lenora until the market improves and Murray Franklyn confirms that it’s 7th & Westlake project will not proceed as planned.
Update 8/13: I’ve been trying to obtain confirmation on the status of Domaine to no avail…seems Intracorp is keeping mum. I wouldn’t be surprised if Domaine joins Expo62 (Axis) and Moda given they’ve closed their sales office, removed signage, dummy downed the website and are media shy (not me…the DJC and PI).
