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Originally Posted by kornbread
Yeah, I would say you're pretty optimistic. It seems to me that San Antonio's building cycles for high rise type buildings happen about every 10 to 12 years.
This latest one has been around for a while and has added a lot to the downtown area. A lot of midrises went up with more to follow with the government funded buildings. I would say it will be at least 5 to 7 years before another tall rises.
The one factor that could change that is what happens with Ft. Sam. How much of an impact will it have on the surrounding areas? I think this is something that can finally positively effect the area between IH 35 and Houston street. But that to will be several years away.
Vidorra does have ready to go residences and they could eventually fill up. I'm not surprised that they are stuck on 50% in this economy, but the interest there has been luke warm at best. I can't see another tower rising at that site unless the property values climb significantly. They're more likely to fill the area with townehomes and call it a day..
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With the growth that Texas has experienced and will continue to experience because of the migration shift of the US population, I think that our days of building in cycles might soon be coming to an end. Demand will begin to dictate that in the next couple of years, and from that point on. BRAC, among other things, will solidify our growth in the next 1-3 years. Remember, everyone must be in place BY Aug. 2011, a little shy of 2 years. People are starting to show up NOW so they will slowly soak in to the city, but people will see and feel the difference in a few months.
As for the economy; the recession could very well soon be a thing of the past. We are in place for a quick recovery, and will benefit greatly from being in that position. We might not feel it yet, but like I said, BRAC, and other things (CAT, Toyota, Medtronic, NSA, Cyber Command, Port SA movements, and a relatively low unemployment rate) will help make sure the region has a speedy recovery.
I do agree with you that this might finally do it for the Eastside. If traffic keeps up, growth keeps up, that'll be enough to get people there. I don't think traffic has been bad enough to keep people living close to work. People drive in from La Vernia, Floresville, Stone Oak, NB, but as soon as traffic becomes unpredictable, some, not all, will look for a place closer to work.