Quote:
Originally Posted by jg6544
Why is there so much building in the area north of downtown and so little in downtown itself?
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1.) The big local developers own a lot of land there.
2.) National and International developers are likely steered there and lured by the higher land prices and potential to make more money because of the huge appreciation.
3.) Lots of highly educated residents live/work/play in this area with the wealthiest areas of Dallas adjacent to it. Easy sell for a developer.
4.) A lot of the landowners in DT Dallas own individual lots and have high asking prices relative to the sub-market. They are basically sitting on that land and making a killing off of surface lots.
5.) Lots of vacant space in DT. Lots of renovations are quickly ridding Dallas of this problem though.
I look at a project like the Spire development and it just seems there might be a stigma besides all of the land issues. Several office projects just a few blocks away in Uptown have come and been built while nothing happens with Spire. Spire always cites landing a marquee tenant, but every tower in Uptown seems to have no problem filling up immediately.
but that's office. As far as residential, DT has a lot of units underconstruction and under renovation. Most are shorter infill type projects, with a couple of the taller towers. I wouldn't be surprised if you see a little boom spreading from the Farmers Market area, north. Lots of lots and new boulevard and park coming in addition to the new Farmers Market and all new residential under construction.