Quote:
Originally Posted by Christianmx
142 million tower. How much of a tower does that buy? Does anyone know how much went into the Alteza?
|
For a bit of a comparison (and Austin is a bit more expensive to build within than San Antonio)...
Recent Austin towers:
-The Austonian - Residential - 683' - $275 million
-The W Hotel & Residences - Hotel & Residential - 474' - $350 million
-The Fairmont - Hotel - 456'/595' - $375+ million
On top of this, I am not sure of what the actual development cost of The Independent. However, I can tell you it is north of $375 million (689' - all Residential).
With regard to Third&Shoal, Austin Proper, Shoal Creek Walk, The "Google" Tower, 70 Rainey, etc., all I would expect to be above $180 million in total development costs. In fact, I thing the new, ultra skinny, 26-story 416 Congress boutique hotel tower is going to cost worth of $150 million...if built.