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Market Square Tower: 40-Story High-Rise for Downtown


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Got to take a hardhat tour of the site yesterday. Still a lot of work to be done. They're shooting for an October 26th grand opening, with about the first 15 or 16 floors complete at that time. The 39

Cool picture from their FB page.  

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Any idea on what $30 oil is going to do to rental rates for these new swank apartment towers.  Who do they expect to rent all of these 1 bedroom $3-4 per SF units???

 

Prices will likely continue to drop a bit in the near term (Strong dollar, china weakening, and Q1 turnaround activity). Once the refineries finish their turnarounds (Q2), demand should pick up, and we should start to see the beginning of an upward movement on crude prices.Won't be quick, but will probably end 2016 around $40/bbl or so. 

 

In other words, price environment should be a little better by the time a lot of these units come onto the market. The question is, can these E&P & oilfield services companies hold off until then without additional layoffs?

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