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Of course, everything depends on where you want to situate 'downtown'.

First, you'll need to purchase the land. Its value may be sufficient to use as collateral to build the building with the number of units you want to sell. Or not. Your investment will be more if you build a 30-story building than if you built one that is only six stories.

A local realtor can help you understand your downtown geography and the current market demand for condominiums in your locale.

Developers build condominiums as multi-family, high-density housing so that they can recover their investment more quickly than if they simply built an apartment complex.

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Q: What does a downtown condo cost to build?
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