THE SPONSORS OF CONDOMINIUMS IN LARGE U.S. CITIES
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Date
1981-05
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Johns Hopkins University, Center for Metropolitan Planning and Research
Abstract
Many large cities in the U.S. have witnessed a proliferation of condominiums since 1970. At first, the condominiums were predominantly
newly constructed, but subsequently most additions to the condominium stock were converted from existing rental units.
according to type of structure, location within the metropolitan area, price, and submarket. They were promoted under changing housing market conditions and have been influenced by a variety of changing
external factors.
This paper explores the emergence of the condominiums in large U.S. cities and notes their varying characteristics. Subsequently,
my argument for the study of the sponsors of the condominiums is presented. Based on a number of in-depth interviews with developers, real-estate consultants, and financiers, the background of the decision
making process of the sponsors is sketched. Finally, a few possible effects of the emergence of the condominiums for the social structure of the urban area are discussed.
Description
An excerpt from this paper was presented to the Urban Studies Section of the annual meeting of the Western Social Science Association in San Diego, California, April 23-25, 1981.
Keywords
Housing, United States