Quote:
Originally Posted by We vs us
I've wondered if the general lack of imagination in our design might in part be due to the speed in which the buildings are being built.
That comparison shot posted in one of our recent threads -- the 2010 vs 2017 skyline -- shows a LOT of activity in an amazingly short period of time. Maybe we just needed to get a certain level of highrise office space built -- regardless of architectural significance.
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I've sold quite a few condos downtown and owned one myself for a few years. I've noticed that the quality of construction and design for most of downtown properties lacks, and I believe that is due to the following
1. The demand to live downtown is such that buyers will purchase anything regardless of style/design.
2. Being a younger (new money) type of market, the buyers are not often educated to high design and don't demand it.....and probably could not afford it. Cities like Dallas-Houston (not to mention NYC & LA, etc), have a TON more money than Austin, have more museums, better fine arts, etc. Which, I believe, leads to buyers who demand more style.
3. I believe once the prices of newer units exceed $1000/ft, buyers will expect higher interior designs and "starchitects", who have a reputation to uphold with regard to design.
I believe we will reach those levels, but it will take time. As the boomers continue to retire and want a condo life downtown, they have the money and "style", and will demand a better building and appreciate a "starchitect".
I've never had a downtown condo buyer that even mentioned style/design. What matter most were;
1. price
2. view
3. size-value
4. location
But all of those buyers/sellers were below the $600/ft range. A buyer can only expect so much at that price point. We've had quite a few units sell in the $1000+/- sqft downtown, but I've never worked with those buyers/sellers.