Quote:
Originally Posted by Keep-SA-Lame
To be fair, The Broadway isn't downtown and the Alteza condos still are mostly vacant, aren't they?
Even leaving those out, I think the amount of residential construction is quite impressive and I'm pretty pumped about it. Where DT seems to be lagging is in office space. The vacancy rate last time I saw was almost 40%, which is not exactly stunning.
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The vacancy rate of Vidorra I saw prominently advertised on a huge banner on the building was either 70 or 80%. The Broadway might still be mostly vacant, but like you said, not really DT; and if we did count those, we could count the apartments off of San Marcos near the Stock Yards which are closer to SoFlo than The Broadway is to RN. As for Alteza, well, I don't expect it to sell out until at least we see another couple of rental developments announced (besides the ones that we already know are coming down the pipeline). I'd expect Lynd to announce "EnV San Antonio" at the corner of Houston and Soledad way before another "luxury" condo project gets announced.
You should take Refugio Place off of the list though, it was built in 2005. You did forget to include Cevallos Lofts though which would increase that number by 36 (more than RP). Either way, the number is impressive.
Vistana was completed in 2009 (I think March was the "soft" move-in but it might have been delayed a couple of months) and I us it as an indicator (I moved back home Oct. 2007) of what is pre/post Vistana; it was the first completed project DT after I moved back. I have a report that was done for DTA (
here) and it shows what was done "Pre". 2006/2007 was the Milmo Lofts and Palacio Del Sol (Senior housing off of Frio).
I've also tried keeping up with the "post" portion and created a spreadsheet of my own to keep up as best I can; perhaps one of ya'll can tweak it and keep it a bit more detailed and up to date. I haven't included every single thing in there like all of the retail space leased out, and I didn't include the reuse stuff in there and we did have quite a bit of that for a while (Neisner, St. B's, Hotel Indigo, Home2Suites, and a majority of the retail stuff on Houston) so this list can be a bit misleading as to the true development going on in the core.
Also, just by looking at it, I can tell you that I didn't include Edwards Aquifer Authority's expansion on St. Mary's and and the Medical Offices on Camden. There might be a couple of other misses on this.
WorldTexas, I am/have been excited, although I feel as though I am the only one sometimes.
I don't think that the announcement of
Sigma Solutions moving downtown will solidify DT as a "strong" office market, it surely doesn't hurt. It is lagging a bit though; we'll see what kind of effect the Pearl office space has on the rest of DT.
Good news (maybe), we have yet to hear of Graham Weston's major announcement for DT.