Jump to content

Market Square Tower: 40-Story High-Rise At 777 Preston St.


Urbannizer

Recommended Posts

how is parking going to work for this building?  Will they lease space in the adjacent garage?

 

 

Here you go Tangledwoods

Yeah they plan on using the Kim Son Garage.

 

I think the owner of the garage is the developer of the tower, or at least that is the impression I have based on nothing specific that I recall. It may be buried in the thread somewhere.

Link to comment
Share on other sites

While I agree about affordable housing, I also can disagree about the incentives. What do they think would happen? Yeah eventually Downtown could have rebounded with spectacular residential projects, but they might have only been even more expensive than the ones coming to the market now.

Putting upper middle class citizens Downtown will help support a street life. Letting the market build only for the upper classes would take longer and really exclude everyone. Then you'd see more tunnel connections and sky bridges. Downtown stays stagnant and wealth divides the street life even more so.

  • Like 3
Link to comment
Share on other sites

I have been saying we need to target more middle class, police, nurse, etc.. this is not NYC not everything need to he 1700 one bed room

yeah but this is in the financial district of downtown Houston, where i believe land prices are the highest in the state. do people seriously expect the downtown developments to be low income housing? it just doesn't make sense economically.. unless of course, wait for it.. incentives are provided. GASP! :o

Edited by Subdude
  • Like 1
Link to comment
Share on other sites

Everyone wants high quality everything at the price they deem personally “affordable”; I guess these folks are making a run at the same pot of cash that was given to DT residential incentive recipients. I can’t blame them for that, I guess, or at least no more than I blame the developers.

 

How much might we all have to pay for a vibrant downtown, who knows?  If it works, will it be worth it? Probably depends who you ask.

Link to comment
Share on other sites

Could you make an affordable residential high rise similar to what is going up on Wayside - granite counter-tops but no amenities?  Would it be worth living in?  Or would that not make financial sense in downtown?

Link to comment
Share on other sites

The incentives are supposed to pay for themselves through increased property tax revenue in the future.  $15k credit now, increased property taxes in the future based on the improvements and overall increase in property values due to more demand.  If affordable housing is built, it will increase the future property taxes less and thus would really only make fiscal sense if less than the current incentives.  Who know if developers would still be willing to build downtown with less incentives in order to make less money in the future?

  • Like 1
Link to comment
Share on other sites

I understand their argument, but I feel having a vibrant downtown will benefit the city as a whole and not just the higher income people living in the apartments. Once downtown is more vibrant, it will bring more money to the city via taxes from tourists spending money and property taxes. That will in turn fund other projects in the city. I'm pretty sure my tax payer dollars are used to build roads ill never drive on, schools ill never attend, social programs i'll never benefit from, but that's the point of paying taxes so everyone can benefit even if it's for something you personally might not benefit from. There's affordable housing all over the city.

  • Like 1
Link to comment
Share on other sites

I don't understand their argument at all. If you want to live Downtown, work you're way up to the top. The problem is everyone wants handout these days (and this statement is coming from a brown person)

If really you want an affordable housing crisis, look at NYC and stop complaining...

  • Like 4
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...