Jump to content

Banking On Apartments At Republic Tower


MidtownCoog

Recommended Posts

  • Replies 67
  • Created
  • Last Reply
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.

Link to comment
Share on other sites

.......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.

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.


All of the HAIF
None of the ads!
HAIF+
Just
$5!


×
×
  • Create New...