BHI provided a $167 million construction loan to Yellowstone Real Estate Investments for the conversion of the Candler Building into a 176-unit residential tower with retail space, totaling $203 million in financing.
Galliard Homes reduced the amount of affordable housing in the project's housing stock from 35 per cent to just 10 per cent, citing increased construction costs and changing building regulations as key factors.
Ginsburg stated that treating builder business as a core pillar rather than a side channel reflects a broader industry shift. He believes a healthy balance of builders should be around 15% to 20% of the overall retail book of business.
The mansion is so iconic and instantly recognizable, but it was definitely ready for an upgrade. The bones were always there, but the house needed to evolve the way the show has evolved—more layered, and reflective of how people actually live and gather now.
Buyers in many areas have more options than they did during the pandemic-era frenzy, with inventory rebounding from historic lows and competition easing. At the same time, home prices remain high and renovation costs are elevated. With more homes available but at higher price points, the real question for buyers is: Do you buy a fixer-upper that needs work, or pay more for a move-in ready, turnkey home and skip the projects?