I am glad to learn that one of my favorite mixed-use developments in Downtown Pasadena, The Livingstone, is doing quite well sales-wise. According to the developer, there are now 11 units in contract (out of a total of 32 units). Also, the developer will offer a second loan of 10% (at 5% interest only) toward the down payment so buyers putting down 10% can avoid paying PMI.
Considering the type of economic climate we’re in, it goes to show you that there is still strong demand for urban living in walkable neighborhoods closer to transit and other services and amenities.
And after recently watching a great documentary on urban planning focusing on automobile and oil addiction, called Sprawling from Grace (former Deputy Mayor of Pasadena, Katherine Perez, was interviewed and shown many times in this film), I am glad that Downtown Pasadena is continuing to develop on a human scale that is more dense and compact. A city built for 3/mph, not 50/mph.
If you have any questions pertaining to The Livingstone’s condo units, please don’t hesitate to contact me.