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Drexel Apartments: Multifamily Development Near Greenway Plaza


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18 minutes ago, Mark Resident said:

Why do they keep building apartments when the market is so saturated?

That's an interesting question, Mark. Generally developers want a return on their investment in a reasonable amount of time but they also want to take advantage of opportunities and position themselves in a way they believe the market is headed. On thing the pandemic has proven is a lot of people can work from home or other remote locations and shop on-line with home delivery. Perhaps developers are asking what is next going to be in demand, commercial office buildings (not if more are working remotely), retail space (not if more are ordering on-line and having goods delivered to their doors), hospitality and entertainment (who knows)? Besides, if I had to guess, I would think garden and podium apartments are less expensive to build than office buildings and retail centers.

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  • Highrise Tower changed the title to Drexel Apartments: Multifamily Development Near Greenway Plaza
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