Downtown Development
by June 9, 2014 12:00 am 55 views
The owner of the The Dickson, a nine-story, mixed-use building in downtown Fayetteville’s entertainment district, is making a push to increase the number of owner-occupied condominiums in the upscale building.
Ted Belden, who owns the building through his West Dickson Street Co. LLC, has recently been talking to different banks in an attempt to offer more attractive financing in a difficult financing market for condos.
The way we understand it, Belden is seeking to reduce the asking prices to a more affordable rate, hoping to convert some renters into owners. The across-the-board cut could be by as much as 20 percent.
Don’t mistake this as a desperate act. All 54 condo units in the building are 100 percent occupied, but only 16 of them are owner-occupied. The rest are leased to tenants.