View Single Post
  #79  
Old Posted Oct 14, 2017, 3:55 PM
AwesomeSAView AwesomeSAView is offline
Registered User
 
Join Date: Jan 2015
Posts: 490
Quote:
Originally Posted by ILUVSAT View Post
So, it's gone from 66 units to 58...but, they are "considering" adding another floor due to demand? Hmmmm.

Plus, the tower is only 35% under contract. Nothing has been "sold" to this point. If there were "demand," the under contract percentage should be much higher.

Look, I want to see downtown SA succeed in growing its downtown perminant resident numbers. But, we need to be realistic. It's not quite there yet. Will it get there? I don't know.

Having said all that...demand is simple. For example: prior to construction, The Arts had reservations for 35% of its 58 units. The Independent (in Austin) had 90% of its 370 units reserved within the first week of sales - prior to dirt turning (obviously).

Right now, there is a negative stigma (fear) of living in downtown SA. If there was not, we would be seeing many more, high-rise proposals. I don't think downtown SA (overall) is appealing to the masses (especially to those which would be renting/buying units).

Heck, Lynd (of San Antonio) is fast-tracking what may end up being the tallest, mixed-use, residential building in Texas in Austin. In fact, it has the chance of topping 1000'. Worst case scenario, it will be a 850' tower with several hundered apartments & about 500,000SF of office space.

I'm NOT trying to provoke a inter-city fight. But, simply pointing out the obvious that most of our poster's expectations should be quelled a bit. Downtown SA is not quite poised to boom...residentially. The demographics are just not there (especially throughout thhe entire downtown area).

AGAIN, AUSTIN IS AUSTIN ANS SAN ANTONIO IS SAN ANTONIO...
Two totally different cities.....
I think you just don't GET that.... San Antonio DOES NOT want to be another Austin, believe me.....
San Antonio has been getting a lot of national and global attention lately, some bad but mostly good! And one learns from the bad and make it good!

And IMO I think you are trying to provoke a squabble AGAIN.

Sorry buddy
Reply With Quote