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MidtownCoog

Banking On Apartments At Republic Tower

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Recent DMN articles about Dallas having a hard time keeping up with demand for rental apartments.

Google it. For example:

"We see a huge demand for the rental units, and it's a great retail location," said Post executive vice president David Ward. "We're filling a slot that's been left vacant thanks to the change in the office market."

http://www.dallasnews.com/sharedcontent/dw...on.d4c87ca.html

far better positioned than you are to assess risk in this project.

Dude, this is an internet message board. If I can't opine, then what's the point? You might as well Logoff now if you don't like reading it.

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I just feel sorry for the schmuck who gets stuck with the view of the cooling tower.

No wonder there are no plans for balconies.

Republic_Tower.jpg

Thats not the roof top garden. Its at the top of the 36 story tower. It already has a roof plaza there (top of the 36 story building), was very nice some years ago. What you are seeing in this picture is what has been adapted previously into a parking garage. No apartments will be built in this park of the Republic complex.

Edited by slfunk

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Dude, this is an internet message board. If I can't opine, then what's the point?

You are correct about opining on an internet message board. However, the next time you want to state your opinion, try prefacing it with something like "I think" or "IMHO," rather than couching your opinion in terms that would lead the unsuspecting/uninformed reader to believe that it's actually fact. . .unless your goal is just to come off as a "know it all." I'll give you an example of how it's done. Watch closely.

"Midtown, I think you raise some interesting issues. However, IMHO you present them in a reckless way that disregards some established facts.

Now, you try it. :lol:

Edited by 713 To 214

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Very Good.

Now, I think the jury will be out on this one for a while. While I'm not as sour as some on this thread, I am a little skeptical, just a little, about this project's viability due to other high-rise conversions in its immediate vicinity. I do think that this project will benefit from having a DART Rail station at it's doorstep, it's close proximity to numerous office towers filled with professionals who can afford the anticipated rents, and the STRONG desire to move DT Dallas shared by many local twenty to thirty-somethings. Additionally, DT Dallas' plans for expansion of its greenspace areas, combined with numerous supporting convieniences, will give people a reason to call this place home.

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I THINK this project will flop.

Interesting opinion.I hope thats not all that has to be said for a project to flop ,because if it is, then you must have voiced your opinion right before the construction of "The Shamrock Tower"? Just an Observation. :angry2::blush::P

Edited by Dallasboi

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The giant Mosaic renovation, a block away (the former Fidelity Union Tower) is another possibility.

And, no offense, I would give more credence to the opinion of the people who actually HAVE the $46 million than to someone who just has an opinion and 2 cents.

Wow. That's just rude, TexasStar - offense taken. What makes you think - or assume - that I may not have involvement with people who might have involvement in real estate investment?????? I wasn't making anything up... I was just speaking from experience.

As a matter of fact, I do happen to work for a real estate investment company - actually sit on the investment committee. We have purchased two large assets in Dallas (which in total would be far more than $46 million) - which is why I am there often. I work on getting these projects financed - and have insight into the actual performance of these properties. So you may not care about my opinion... fine... but there is no need to knock it.

Edited by firstngoal

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Well, I hate foe balconies; I would need an outside living room.

I think the Republic Tower will be successful because it's a bad-ass looking building.

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From the Guidelines for this sub-forum:

Respectful discussions only. Any "my city is better than your city" flamewars will be deleted without notice.

~ HAIF Moderators

Well, so much for that idea. I joined this forum for two reasons. To keep up with the great projects going up in Houston and to contribute to keeping like-minded Houstonians up-to-speed with the developments in DFW. But, obviously, that can't be done here without the obligatory city-bashing. Sad, but so predictable. I mean if you're consumed with so much white-hot hatred for all things Dallas, why not just avoid the DALLAS/FT.WORTH/DFW sub-forum? Makes too much sense? Or more likely, what better place to pick the fight you've been spoiling for anyway, huh? Got it.

Well, since I don't have time for that kind of childish foolishness, it's so-long and goodbye to HAIF.

See you on dallasmetropolis.com! B)

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Well, since I don't have time for that kind of childish foolishness, it's so-long and goodbye to HAIF.

(Except for that one last little rant :lol: )

I'm feelin' the love :wub:

B)

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Self imposed hardship as in:

1. Want to walk the dog? Better pack a lunch.

2. No balconies!

3. Bringing home groceries is akin to checking into a hotel.

4. It looks like a prison.

5. It may have history, but it lacks a soul.

6. It's apartments! Who wants to live in an apartment?

1. Most upscale apartment buildings don't allow dogs anyway, or have dog walking services.

2. The building I live in (50 stories) doesn't have balconies. Instead I have 13 floor-to-ceiling windows in a panoramic arc. When you're 600 feet above the ground you want to enjoy the view, not the wind.

3. Urban living usually involves having your groceries delivered, or eating out a lot and doing light shopping at specialty stores.

4. It looks like a glass tower.

5. Soul is debatable. Amenities are more important.

6. I live in an apartment. So do hundreds of millions of other people around the world.

Bottom line: You're not the target market. But that doesn't mean there won't be a demand.

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Guest danax
.......6. I live in an apartment. So do hundreds of millions of other people around the world.

Bottom line: You're not the target market. But that doesn't mean there won't be a demand.

Could it be that, as cities are evolving, apartment construction increases proportionately to falling home buying affordablility?

It would seem that apartments in the inner city are the future of "affordable" housing, other than the subsidized version. Not that they'll be Section 8 cheap, but they won't require the qualifying and outlay that a home purchase would. And as inner-city home prices rise, the apartment will be the only way to live in the city for the majority.

According to the National Apartment Association, NYC experienced a 79% increase this year over last in apartment construction permits, all while there is rent control there and the average rent in Manhattan is $2815 a month.

So if Manhattan an the indicator of large city's futures, not only will the average Joe not be able to buy in-town, they won't be able to even live in an apartment. An increase in expensive apartments, like the Republic, would then indicate a city that is moving into a "phase 2" level of urban evolution.

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I live in an apartment. So do hundreds of millions of other people around the world.

Not sure where you live, but I am willing to bet its been "urban" (hate that word) for a while.

This is Texas. We are free to blaze our own trail. Copying what works in other cities may work, and then again, it may not.

Commerce Towers in downtown Houston is the way to do it right. Even the Humble and Kirby lofts are fine examples of how Texans can do it.

It's not like we are HK and have run out of space. We still have elbow room to grow.

That's why this one will be fun to watch.

Edited by MidtownCoog

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Not sure where you live, but I am willing to bet its been "urban" (hate that word) for a while.

The city in which I live is the same age as Houston (give or take a few months). But it evolved with more influence from the East Coast and the old world, and less of the wide-open-spaces mindset that brought most of Texas into being.

Could it be that, as cities are evolving, apartment construction increases proportionately to falling home buying affordablility?

Possibly. But I think that varies from city to city, especially with the phenomenon of "ring rot" that is starting to develop in some cities.

The building next to mine has apartments starting at $800,000 and running to 2.3m. Going a couple of miles away $800,000 will get you a nice sized home. But a few miles beyond that you can't find anything that cheap. But then you go a little further and you can get a really big home for that price. The prices seem to fluctuate in rings from the city center. Of course, this is a gross over generalization, as all discussions of urban living are.

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I always thought that was one of the ugliest buildings I have ever seen. That stupid looking rocket thing. Is it just me or doesn't anyone else think it's pretty ugly - silver metal with an old rocket looking thing at the top? (Don't get me wrong - this isn't a Dallas thing .... I can say that about buildings in Houston too.) Perhaps they will somehow work on the facade.

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Grocery delivery was perk of the .dom boom in Houston until Enron.

It was part of Randall's. I forget the name, but a lot of my Midtown neighbords used it.

You may have just invented a niche for RT.

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