After 5 years of planning and months of development delays, first-time developer Vincent Ricchiuti was able to open his luxurious condominium complicated. Then got here the pandemic.
“We thought it was the worst time you could possibly think about,” Ricchiuti mentioned in regards to the grand opening in spring 2020.
Seems he didn’t want to fret. His undertaking, the Row, was opening in the nation’s hottest housing market: Fresno.
Inside months, Ricchiuti had rented all 255 of the Row’s flats and townhomes, regardless that its one-bedrooms go for as a lot as $2,600 a month — a worth rivaling these in Los Angeles seaside communities.
“We opened, and abruptly, right here got here the lots,” he mentioned.
During the last 4 years, no massive U.S. metropolis has seen larger will increase in lease than Fresno. California’s fifth-biggest metropolis, it’s an agricultural powerhouse on the doorstep of Yosemite Nationwide Park however