The Wall Street Journal notes Toll Brothers' increasing stake in the national condo market. The Horsham-based company, known locally for its suburban developments before forays into Naval Square and the Loft District, already has ten condo projects under way in New York City. They are scheduled to announce their first project in the Washington, D.C. area.
"Baby boomers are downsizing and getting tired of mowing the lawn, and many are looking for a place where they don't have to drive for everything," said Christopher Leinberger, a Washington urban land-use strategist and partner in developer Arcadia Land Co. "The home builders in this country have been slow in getting into this market, but once they do, they find that it is a large market with pent-up demand."
Original source: The Wall Street Journal
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