Friday, August 7, 2009

Hotels, Hotels Everywhere in South Bend, IN

On June 21, 2009 the South Bend Tribune ran an article written by Tommy Conroy about the continued growth in the number of hotel rooms in South Bend despite the recession. St. Joseph County now has 4,591 rooms up from 3,811 rooms in 2005 according to the article. Much of the new growth is fueled by specualtion on Notre Dame Football Weekends with new hotels on SR 933 close to campus. Occupancy levels are tenuous and some hotels are going out of business.

One attractive alternative that many Notre Dame alumni and parents of Notre Dmae and St. Mary's students have found is to purchase a maintenance free condo or townhome close to campus. This trend has been increasing fueled by a new construction boom that began in 2005. This market too has cooled leading to some great investment deals to be made in developments like Dublin Village Townhomes, Irish Crossings Townhomes, Ivy Quad, and Notre Dame's new Kite Realty built development, Eddy Commons. Now is probably the best combination of distressed sellers and relatively low interest rates to be seen in the coming years. Rising interest rates and decreased building will mean higher prices for buyers in the coming years, so take advantage and buy now!

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