Quote:
Originally Posted by Austin1971
Never say never about a 1000 footer. Some rich middle easterner from Dubai attending F1 might fancy Austin and decide to invest a billion in a building.
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I like the way you're dreaming. But, that is all it is...a dream.
Where else in the planet has a development group from the Middle East been the primary/lead financier of a 1000'-tall tower? I cannot think of any place/project at the moment. Furthermore, those which whom financed the six-year-long massive building boom in Dubai are now (since 2009) dealing with hundreds of billions in debt...which they cannot pay down and the debt continues to be rolled over.
A decent 1000' tower will run a developer in the neighborhood of $700 million - $1+ billion to construct (e.g., the 844' Devon Energy Tower in OKC cost more than $750 million to build)! Sadly, I do not see that happening in Austin for some time; especially when Austin is not home to a major energy corporation.
If a foreign investor were to assist in financing a 1000' tower in Austin, it would more likely come from China. Our new Mother Country...since they already own the bulk of US debt.