Quote:
Originally Posted by BG918
In many cities the suburban garden-style apartment complexes built on periphery of cities in the 70's and 80's are where the affordable housing is located. Some of these clusters are now modern-day slums and will likely stay that way. Think Vickery Meadows in Dallas, Gulfton in Houston, etc. I see a similar situation happening to the ubiquitous 5-6 story "wood-frame over podium" apartment projects popping up all over U.S. cities.
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Gulfton area and other similarly aged complexes around Houston (assuming same for Dallas) were never really luxury. Gulfton was known as a singles mecca back in its prime which was the draw not so much the apartments themselves. They were hastily constructed (with a limited lifespan) to cope with the massive influx of population during the 70's and 80's. The population today is less transient so the newer stuff being developed is built for more long term and to a more upscale market. Their decline would be mainly due to demographic/ socioeconomic shifts.