Quote:
Originally Posted by JGFrisco
I guess I'm not being very clear...but let me try something different. The cost of an odd-shaped building is much more than that of a crown or spire.
With a large multi-story building, you get advantages of scale by making the stories the same. It makes construction faster, simpler, and easier. Plus, when you start making odd shapes and changing floor shapes, you start affecting your leasable or salable space, and you start creating black holes, meaning spaces that are difficult or impossible to lease.
So odd shapes would cost far more, both in terms of construction and in terms of expected income, and are much harder to sell to a lender.
The Chicago Spire is odd...but if you will look, they have lost the tapered look, and instead will just have a tall cylinder that is the same size on each floor. So they will get the economy of scale.
PS Architects can get away with making the building look different with changing elevations by using setbacks. This changes the look, but not the overall design and layout. Sears Tower and Burj Dubai have this.
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All of this bickering is for not...T.Stacy won't be seeking financial support for the office tower (the ~32-story building) for another 18-24 months. The hotel/condo tower won't need financing in place for another 2-3 years; at least. Additionally, I don't think anyone is going to be constructing anything new, in Austin, in the near-term. Costs, as you have mentioned, has skyrocketed and developers need to re-analyze their numbers and possibly make necessary adjustments to hit their margins.
A large number of developers in Austin (and the country, for that matter) are waiting until after the general election in November to make judgments on how to proceed with their developments (e.g., if Barak is elected, he may very well increase the taxes on capital gains which will have a huge affect on America's real estate industry).
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