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Old 06-23-2010, 05:18 PM
 
Location: Dallas-Fort Worth Metroplex
3,261 posts, read 7,638,611 times
Reputation: 678

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Quote:
Originally Posted by kdogg817 View Post
I don't here the Houstonians calling Atlanta and Miami over built but Dallas put up one tower and all hell has broken loose.
Exactly, it is only one building.
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Old 06-23-2010, 05:20 PM
 
Location: Dallas-Fort Worth Metroplex
3,261 posts, read 7,638,611 times
Reputation: 678
Quote:
Originally Posted by Scarface713 View Post
What? I've said Miami and Atlanta were overbuilt plenty of times, because they are...especially Miami. I have no reason why Dallas wants to continue building like them. And it's not the tower, it's the price point. Dallas does not have the market for high-priced, small condo units in Downtown. It just doesn't (especially starting from $1.1 million. Hell, the Ritz can't even get more than 25% sold, and it's been there for years.
Population in Downtown Dallas is growing fast, we need this residental tower.
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Old 06-23-2010, 05:21 PM
 
Location: ITL (Houston)
9,223 posts, read 13,461,579 times
Reputation: 3545
Quote:
Originally Posted by kdogg817 View Post
I don't here the Houstonians calling Atlanta and Miami over built but Dallas put up one tower and all hell has broken loose.
What? I've said Miami and Atlanta were overbuilt plenty of times, because they are...especially Miami. I have no reason why Dallas wants to continue building like them. And it's not the tower, it's the price point. Dallas does not have the market for high-priced, small condo units in Downtown. It just doesn't (especially starting from $1.1 million). Hell, the Ritz can't even get more than 25% sold, and it's been there for years, as well as a brand name. That's just one example.

Quote:
Originally Posted by ladarron View Post
Exactly, it is only one building.
One building, in addition to all of the other vacant ones. Plus, isn't Dallas trying to convert old office buildings Downtown into residential ones? Build this one, and vacancy just increases.

Quote:
Originally Posted by ladarron View Post
Population in Downtown Dallas is growing fast, we need this residental tower.
The Museum Tower is not needed. If it was, there would actually have some pre-sales, but they don't. You can't honestly believe that the Museum Tower is needed, do you? That kind of thinking is exactly why the vacancy rate is so high in Downtown/Uptown Dallas condos. Fill up what is there now. "Build it and they will come" doesn't work all of the time.
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Old 06-23-2010, 05:27 PM
 
Location: Dallas-Fort Worth Metroplex
3,261 posts, read 7,638,611 times
Reputation: 678
Quote:
Originally Posted by Scarface713 View Post
What? I've said Miami and Atlanta were overbuilt plenty of times, because they are...especially Miami. I have no reason why Dallas wants to continue building like them. And it's not the tower, it's the price point. Dallas does not have the market for high-priced, small condo units in Downtown. It just doesn't (especially starting from $1.1 million). Hell, the Ritz can't even get more than 25% sold, and it's been there for years, as well as a brand name. That's just one example.



One building, in addition to all of the other vacant ones. Plus, isn't Dallas trying to convert old office buildings Downtown into residential ones? Build this one, and vacancy just increases.



I guess you don't know the situation in Downtown Dallas then. The Museum Tower is not needed. If it was, there would actually have some pre-sales, but they don't.
They have been planing Museum Tower for 10 years, that is waaaay before Dallas had problems with vacancy.

Downtown Dallas, inc has bought all the vacant buildings on Main st, look at this video.

Work under way to remake downtown Dallas | wfaa.com | Dallas - Fort Worth Local News
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Old 06-23-2010, 05:29 PM
 
Location: Upper East Side of Texas
12,521 posts, read 22,367,529 times
Reputation: 4890
Quote:
Originally Posted by kdogg817 View Post
I don't here the Houstonians calling Atlanta and Miami over built but Dallas put up one tower and all hell has broken loose.
I've said Miami has over built many times. It sure is a pretty skyline now, but most of those towers sit empty I'm afraid.
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Old 06-23-2010, 05:30 PM
 
Location: ITL (Houston)
9,223 posts, read 13,461,579 times
Reputation: 3545
Quote:
Originally Posted by ladarron View Post
They have been planing Museum Tower for 10 years, that is waaaay before Dallas had problems with vacancy.

Downtown Dallas, inc has bought all the vacant buildings on Main st, look at this video.

Work under way to remake downtown Dallas | wfaa.com | Dallas - Fort Worth Local News
And? Why build it now then, when vacancy is probably at its highest? Not to mention there is not a market for high priced condos like this in Dallas (with small units at that). Find me one building in Dallas with condos priced this high that has a relatively good vacancy rate.
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Old 06-23-2010, 05:54 PM
 
Location: Midessa, Texas Home Yangzhou, Jiangsu temporarily
1,505 posts, read 3,762,632 times
Reputation: 908
Is this building going up in Mentone? Just kidding, nice building.
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Old 06-23-2010, 06:04 PM
 
Location: Dallas
1,366 posts, read 2,243,588 times
Reputation: 789
Quote:
Originally Posted by Scarface713 View Post
They'll be losing a lot of cash on this thing.
It's not your money is it? Why you so worried about it? These people who put forth the money for whatever projects have their reasons. If it's a loss then it is what it is, if not then great. Either way it goes it's gonna be done so why not embrace it and be happy. Otherwise we could just have an ugly empty parking lot sitting there.
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Old 06-23-2010, 06:14 PM
 
Location: ITL (Houston)
9,223 posts, read 13,461,579 times
Reputation: 3545
Quote:
Originally Posted by portyhead24 View Post
It's not your money is it? Why you so worried about it? These people who put forth the money for whatever projects have their reasons. If it's a loss then it is what it is, if not then great. Either way it goes it's gonna be done so why not embrace it and be happy. Otherwise we could just have an ugly empty parking lot sitting there.
I said that just because. As far as the project, it's because there is just no need for it. This "build it and they will come" craze in Dallas needs to stop. Vacancy is just too high for it, and there are other luxury condos in the area where sales are pretty low already. The construction of the Museum Tower won't help.
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Old 06-23-2010, 06:17 PM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,171 posts, read 12,207,035 times
Reputation: 4047
Quote:
Originally Posted by C2H (ComingtoHouston) View Post
I've never seen so much pride in building a nice, shiney building that is just poised to sit vacant for years to come. Well, to each his own! I guess some people don't mind if they become the next Miami.
Look at Dubai. They have immense pride in the "worlds tallest skyline" and 70% of those towers are vacant.
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