the commercial real estate crash of the early '90s was a real bitch. most US cities massively overbuilt their stock of office space in the late '80s and then the bubble burst and it all came crashing down like a house of cards. lots of shirts were lost. spec office development essentially disappeared overnight as all of the funding wells dried up.
look at these stats:
from 1985 - 1992, US cities combined to build 120 new office towers that stood 500' or taller.
from 1993 - 2000, US cities combined to build only 4 new office towers that stood 500' or taller. 1 in NYC, 1 in detroit, 1 in nashville, & 1 in louisville (and the latter 3 were really just late-arriving echoes of the boom years.)
so it wasn't just a dallas issue, it was a nationwide problem. skyline development came to a screeching halt during the '90s in US cities from coast to coast.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
Last edited by Steely Dan; Jun 29, 2016 at 6:00 PM.
|