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Originally Posted by OU812
for some reason austin's office market has never really been hot the way san antonio, dallas, or houston has/is. again, i think it's austin's heavy zoning rules, neighborhood opposition, and probably it's substandard freeway network. i guess in a way, the hippies of the 60s/70s prevailed but voting down massive freeway initiatives- don't build it, they won't come.
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I'll agree with you about Houston and Dallas, at least size wise, they're much more important than Austin is. But I wouldn't exactly call Dallas' office market healthy. Check the thread in the Texas forum that talks about Elm Place, a 625 foot, 50-story office building that is completely vacant. It's probably one of the tallest (the tallest?) vacant office building in the country. Houston is definitely healthy, but it has a hugely diverse economy in a way the others can only hope for. And I don't think San Antonio's office market is even on par with Austin's. We out number them with the number of major office buildings in downtown. San Antonio only had two or three sizable office buildings built during the 80s - at least in downtown. Their sub-markets grew a good bit during that time, but now look at downtown. San Antonio hasn't seen a single office building over 200 feet in downtown in 21 years. Of course, we've only had two in Austin during that time, but we had more throughout the 80s than they did. I think the lack of suburban office markets has been a big boost for Austin's downtown. Suburban space still outnumbers downtown space in Austin, but not by as much as the other Texas cities. In Houston for example, the Texas Medical Center has more office space than all of downtown Fort Worth does!
I'm not opposed to sub-markets, just suburban sub-markets. Create a walkable area with office space and everything else, fine, but don't make it into a no man's land.
By the way, I believe that 183 is our best bet for seeing large scale suburban office space. I know there's plenty there now, but I'm talking buildings of double the height of what's there now. So instead of 100 to 150 feet, it would be 200 and 300 foot buildings. 2nd only to I-35, I believe 183 is our most major highway. I would also expect Ben White/71 to develop more vertically eventually with the airport on 71. Also the industrial zones just south and north of Ben White will probably be redeveloped eventually. It would be nice if when that happens it was well planned development, and not just sloppy suburban stucco hotels and bland office parks. I doubt many people would even complain about it, because that area is pretty well insulated on all sides from residential areas.