Are the red parts of those buildings supposed to be brick? It sort of looks like the texture of brick, but the color is really awful. Hopefully, the person who did the rendering is partially red-green color blind and the actual color, brick or not, will be more "normal".
On a more serious note, I think that maybe apartments are a better choice. I think there's just a limited market for $250,000+ condos, which is about the cheapest new built condos can be built for these days. Apartments can be built for less because they don't require the same amenities and high-end features that people expect in condos today.