SAN FRANCISCO (KCBS) -- Despite the slumping economy, a major luxury condominium project in San Francisco is moving into Phase Two.
KCBS' George Harris reports
Tishman Speyer, developer of the Twin Infinity Towers, hopes the real estate market is beginning to reverse course.
Bernardo Fort-Brescia, project architect of the complex on Folsom St. at Main, called it the essence of luxury living with modern appliances, unique floor plans and sweeping Bay views.
Managing Director Carl Shannon said there's still good demand. "There are people moving to San Francisco. They've got jobs, and this is an outstanding place to live." Shannon added that Infinity has signed 20 new contracts in the past 30 days.
But not everyone is sold.
Real estate expert Chris Thornberg with Beacon Economics, though not familiar with the Infinity sales claims, was skeptical. "Maybe they are doing well," said Thornberg, "but if they are, they're really bucking the trend."
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