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Old Posted Oct 14, 2017, 8:08 PM
DanielM DanielM is offline
what the?!
Join Date: Sep 2005
Location: San Antonio
Posts: 38
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).
Just wanted to say that I 100% agree with you. You're a brave man for standing up and speaking the truth in the forum.
i kicked my shoes off in a fit of joy
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