Quote:
Originally Posted by ahealy
I know. I try not to even think about Waterline shrinking to a 600 footer lmao
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Serious question, have we ever had, or is it common to make drastic changes to a skyscraper's height while under construction?
I bet the underwriters wouldn't like that too much, as they have already signed off on the budget and the $ has been promised by the banks (they would be in default if they didn't fund their portion) I know anything can happen, it just seems to me like it would be a disaster.
Also, as I recall, the Austonian caught a LOT of flack for breaking ground in the middle of the '08 recession ('09 if memory serves), and by the time they were ready for units to close we were emerging from the recession and it was a success. I thought they looked pretty smart, and defended their decision to start. Some I argued with said that the building would sit vacant for a decade, and that the light bill wouldn't be paid...so it would stand as this dark beacon of hubris.
I believe that Austin will again, ride this turbulent time, better than most. I also, think the recession won't be as bad as we've seen in the past ('88, '99, '08 come to mind) and by this time next year...Austin will return to 3%+ job growth, which as we all know drives all real estate markets.
By the time the Wilson and Waterline are completed, this weird time will be in our rear view. Maybe we will be looking at another looming...after all that will be about 3.5 years from now.
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