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Originally Posted by hereinaustin
Is there some sort of local ordinance, lending issue, construction cost issue, or something else that keeps so many of our buildings around 400'? In other words, why are developers finding it unprofitable to go taller in our market?
My guess is it has something do with land cost being relatively cheap, lenders and city ordinances requiring parking minimums and FAR ratios, and perhaps not enough demand for density from consumers.
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I think the density bonus program is a bit backwards. Instead of making developers pay what seems like a penalty TO build taller, why they don't offer incentives FOR building taller?
Yes, the developers make more money that way, but the city does too. It would bring more of the density that the city wants/needs and surely more tax dollars. There would be more condos units to get property tax from, more hotel room stays to get tax money from, more office space to tax, etc. The buildings would just be worth more in general. Or maybe there's more to it than I understand?