Recession Drives Shift from Tower Ownership to Rental

Whatever the reason, Stepe says his company has not changed the way it approaches its business decision in regards to the construction of residential or commercial towers, although it proceeds with caution.

“With that said,” he says, “after having seen the rise and fall of the condominium market and now the rise of the apartment market, we have come to realize that the housing market is highly cyclical and that a business practice based on participation in a healthy mix of products and building types offers the greatest potential for sustainable success.”

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