Miami Delays Vote on 93-Story Twin Towers. Vote YES or NO for the towers. (costs, money)

[rogerbacon]

I voted "no" because of the effect more vacancies will have on house prices. House prices are just like anything else in the free market; they are determined by supply and demand. Since supply is already too high and there is not enough demand the worst thing we could do would be to increase supply even more. We need to tighten supply if we are to see a stabilization in house prices.

[MiamiRob]

rogerbacon that makes no sense since these will be condos not homes, two totally different markets. Increased supply actually leads to lower prices not higher ones.

[doggiebus]

Originally Posted by rogerbacon

We need to tighten supply if we are to see a stabilization in house prices.

So true, many people don't get that there is a connection between these condos and single family homes.

[tallrick]

Umm, is it not better to have home prices fall?

[rogerbacon]

Originally Posted by tallrick

Umm, is it not better to have home prices fall?

... said the guy who didn't buy last year.

[lauralei2]

I vote NO for the towers. It is going to be harder to supply drinking water to all these new condo residences that we already have under construction as it is. The water pressure is going to go way down for the beach, since they are at the end of the line.

[eaglecall]

I think those towers would look very beautiful; it will atract tourists, it will cause envy to other countries.

Developers don't build for today; they build for 5-10 years ahead; real state market is a roller coaster; is not even their money; money comes from big corporations, national or international, who at the same time invest for decades ahead; who pays the price? the average citizen, who cannot afford that today and if they do, they have the risk of not being able to pay the mortgage or the rent; but the fact is, if one of those costs 2 million, and half the building is empty, who cares; in 10-15 years they all will be full sold and each will cost 3 million; developers know that.

[Miami skyline]

Why not build the 1000 footers the tallest building is only 794 feet tall Miami could use a little more populairity even thought it's one of the best places i the world I vote yes because miami do need some more buildings Miami is really one of the few very large cities in the world without 1000 footers or at least a 800 footer miami tallest building is pretty close to 800 feet close is not good enough we need bigger and better skyscrapers we should build these towers so people could stop complaning about the condos and if the city has more office buildings it would get more people to move down here work and get the economy back on its feet

[boxus]

Originally Posted by randian

Why should you care how many vacant places are downtown and how long it will take to fill them? It's not your money, it's the developer's money. If the developer guesses wrong he, his investors, and the financing banks take a multi-hundred million dollar bath.

Because, like with numerous other "private" projects, a combination of incentives, grants, and loans end up funneling their way into a private developers hands.

And when the project goes belly up, the gov usually ends up stepping in one form or another, even if it is deferring tax payments for years when someone with a more practical plan could have made use of the area.

Private industry as shown itself to be in much favor of gov sponsored incentives in any form. So when a huge project like this comes to town, with an obvious bad plan, you bet I am concern and should have my say in it.

If people in Coral Gables can tell me what kind of car to park in my own driveway, I can be darn sure I can have a say if someone is going to build a monstrous structure that I deem is based on a speculative and bad business plan (think Parr0t Island, stadium, etc).

[boxus]

Originally Posted by Miami skyline

Why not build the 1000 footers the tallest building is only 794 feet tall Miami could use a little more populairity even thought it's one of the best places i the world I vote yes because miami do need some more buildings Miami is really one of the few very large cities in the world without 1000 footers or at least a 800 footer miami tallest building is pretty close to 800 feet close is not good enough we need bigger and better skyscrapers we should build these towers so people could stop complaning about the condos and if the city has more office buildings it would get more people to move down here work and get the economy back on its feet

More office space? Half of Brickell is empty. There is a tall building here that has been sitting half built for who knows how long and no one seems in a hurry to complete it.

Plus, who in the heck comes to a city because of the tall buildings? Tall buildings usually reflect growth, not promote it.