SAN ANTONIO | 300 Main | 32 FLOORS | 388 FEET | Complete

[AwesomeSAView]

Originally Posted by texboy

I think there IS a market there for this type of product, but as you can see its a slow market. The economy right now isn't helping either. SA just doesn't have the money base to fill these up fast like the Austin/Dallas/Houston markets. SA would have to see its white collar jobs numbers start to come up for these types of developments to fill up.

So, I have friends in Austin and Dallas, and a lot of their residential highrises are only 50 to 60 percent leased/bought. It is the market and the economy right now. And Austin will have a glut of empty highrises in the near future, as they keep building. That is what I have been told.

[Riverranchdrone]

Downtown Austin has an occupancy rate of 86%. Many of these towers sell out before they are built. There are a few towers based on location that might be only 50% but that is not the norm. The market has slowed down with the economy. Rental and housing prices are also starting to come down as well.

[theOGalexd]

Originally Posted by texboy

I think there IS a market there for this type of product, but as you can see its a slow market. The economy right now isn't helping either. SA just doesn't have the money base to fill these up fast like the Austin/Dallas/Houston markets. SA would have to see its white collar jobs numbers start to come up for these types of developments to fill up.

Yeah I think it's that + the value prop isn't quite there, yet at least. Downtown Austin or even uptown Dallas there's a draw to live there and pay the premium. For $4k/mo or even the 6-12k for a PH at 300 Main, you basically have your pick of the litter of anywhere from Alamo Heights to the lower end of the Dominion.

Maybe it's one of those "build it and they will come" things, once it's not just 1-2 buildings in downtown proper. I'd be curious how the complex's by the Pearl are doing too. They seem to be pumping those out.

[ahealy]

I'm just interested to see what goes up near Hemisfair eventually. That seems like the easiest shot to expand the live, work, play environment.

Glad that ugly ass mid-rise (forgot the name) next to the Grand Hyatt has been nixed.

[Rynetwo]

It appears to be about 60% leased. At these price points, Downtown really needs more retail options to support residents, in my opinion.

IDK what critical mass is needed, but with all the units coming online it should happen soon, hopefully.

Based on the Cooper's Row website is looks like it id already 43% leased.