In an embarrassing reversal, the Monarch Condominiums has decided to convert from a 100% condo project to a 100% rental project.
This follows the projects switch from rental to condo just 3 months ago.
At the time of the switch, the condo market was very strong and and the downtown rental market appeared unable to support a 305 unit high-end downtown project.
As construction costs continued to escalate, the Monarch sought greener pastures in the condo market. With construction...
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