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Notable issues: Stellar RV saw some grumbling over pricing when it first launched. Consider the average price for new launches in District 10, back in May 2012: The average for the district was $1,636 psf. Now look at Stellar RV’s pricing at the same time: The median developer price was $2,039 psf. Granted, the small unit sizes meant a lower quantum (around $1.2 million) – but the diminishing shoebox trend, along with the notable price gap, already left some market watchers wondering if it had much room to appreciate. This led to a weak initial showing, with only 20 transactions on its launch weekend. In addition, Stellar RV has only small units. The absolute largest units at Stellar RV are 936 sq.ft., with most units being between 506 to 517 sq. ft. It’s clear that this development is aimed at landlords, who are disinclined to buy in such a weak rental market.

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