Quote:
Originally Posted by Jdawgboy
I'd argue it's been a long time coming and that developers are finally catching on.
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I've argued the exact same point for years. Developers have been able to put anything residential or commercial. The need was so great (Milago sold out in less than 5 days by word of mouth...no kidding) buyers tenants would accept anything.
As Austin grows, the market will demand a higher quality product with ever increasing amenities/quality. Of course this will cost more, but as the first/second wave sell their units for a huge profit + increased personal earnings/wealth, buyers can afford a better product. This applies to commercial as well. To attract the best companies who want to attract the best employees, the office needs to be bigger and better.
I see the same thing in home building in Zilker too. 10 years ago, builders were installing basic "builder grade" tile, appliances, etc. in their new houses, and getting top dollar for the time. Now those same builders have upped their game to get the new top dollar. Buyers expect more.