Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Height restrictions and lack of demand is the reason. Dallas isn’t stagnant though. There’s development happening...mostly highrise infill (shown in the video below). BTW There’s a 610 ft building in the works right now.
Supertalls are expensive and most companies would rather build a much cheaper corporate campus. Supertalls are simply built for vanity. That’s why only a few cities in America are actually building them.
IT DOES COST to go HIGHER. After 50 stories, a skyscraper cost goes up and up by floor.
- For smaller buildings, going taller means that the per floor costs are falling, and then, at some height, they begin to rise. At that point, the costs of providing an additional floor becomes greater.
- For example, the cost of adding the 51st floor is more than the cost of adding the 41st floor.
Where that turning point is remains an open question, and, as I will show below, it seems to be different in different cities.
- The economic theory of skyscrapers says that the profit maximizing developer keeps adding floors until the revenue of the last floor just equals the cost of providing it.
- One floor less means leaving money on the table since the revenue from another floor will be greater than the cost. Building one floor above the profit maximizing height means losing money since the cost of the last floor was greater than the revenue is generates.
- Going taller and taller requires thicker materials, such as concrete or steel, on the lower floors to support the superstructure. The cost of the foundation rises as the building gets taller because the it needs to support more weight.
Cost of building in 3 separate cities per 2019 cost. The average price per floor for
- Chicago is about $6.2 million per floor.
- Shanghai it’s about $3.7 million per floor.
- New York it costs about $15 million per floor.
For a cost of $20 million per floor (on average), you can get a
- 65-story skyscraper in New York
- 100-story skyscraper in Chicago
- 120-story skyscraper in Shanghai
The NEWEST SuperTall in Chicago- Vista Tower in its final completion COST 1- BILLION $$$. Though it is billed as Luxury residences with Hotel lower-levels. Another under construction the so far? I don't think it was halted in its early stages? Another 1000 meter one only started a a couple months ago was.
*** Where our Southern Cities of choices here would fall? There is also cost that need to be charged in a super-tall to recoup cost in leasing of office space to condos and apts in each city. It may be cheaper in other US cities, but to recoup cost higher rents/prices would need to be charged in cities known for relocation of Corporate America for CHEAPER COST there.
How much will a city lose in tax incentives and write-offs just to get another tall building to grace its skyline? There will be temporary jobs for construction work for somebody (friends of the mayor?) but will it only be 20% occupied when finished? Nothing says stupid like constructing an 80 story building that is mostly empty.
Go to the business news outlets for these cities and see what corporations are itching to sink tons of money into a behemoth building. How many are laying off workers or contracting rather than expanding their operations? I suspect more building plans are being scrapped rather than going forward.
How much will a city lose in tax incentives and write-offs just to get another tall building to grace its skyline? There will be temporary jobs for construction work for somebody (friends of the mayor?) but will it only be 20% occupied when finished? Nothing says stupid like constructing an 80 story building that is mostly empty.
Go to the business news outlets for these cities and see what corporations are itching to sink tons of money into a behemoth building. How many are laying off workers or contracting rather than expanding their operations? I suspect more building plans are being scrapped rather than going forward.
That might be MIAMI. Not most other Northern cities. Most have at least that or more in buyers if condos or a major tenant if a office building .... BEFORE they begin construction.
Maybe other Southern cities mentioned in this thread and poll, will be built on more speculation and NOT tenants already seeking a good %.
I know this is the case with Chicago and probably NYC and other Northern cities. They are not fast growing cities and need to realize boom periods of their cores lasting to lease what they build or projects get put on hold or canceled.
Miami is about Speculating wealthy even foreign buyers will eventually buy just for visits parts of the year and it sits the rest, but then NYC has a lot of speculating on foreign buyers also that are decreasing at this point in time. Builders and Investors do NOT want to hear about dropping rents and condo pricing ......
A great way to show the world that we aren't going to be content to play second fiddle to China would be to start building some supertalls everywhere (seeing as how they build them faster and with less fanfare than you or I upgrade our bathroom). You would think a place like Dallas would be at the forefront of this (given all of the "bigger in Texas" bravado), but I guess this just isn't the case.
As I said earlier, Austin and Nashville don't have a need for these types of buildings. With Nashville we're talking a barely 2 million metro with sub-Dakotas/New Mexico population density.
From the list, Dallas or Atlanta. I'd throw Charlotte into the mix for sure.
I doubt either. Atlanta stopped building really tall buildings after 2000 and the rapid growth in DFW is really concentrated mostly in the Plano/Frisco area.
Um, re-read my posts. I said thought it was not under construction.
It's not. It's pretty much been exposed as a scam at this point by the shady & and unscrupulous NYC so called 'developers.'
It's very similar to the failed Trump Towers proposed in Atlanta and Tampa several years ago in that aspect.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
