Quote:
Originally Posted by AustinTay
By far? That's reaching a bit considering downtown is still pretty desolate and Midtown is still too underdeveloped in many areas. In a few years it will be the most urban area by far though; the foundation is already set with skyscrapers, mid and low-rise mf buildings. The area just needs to fill out more but one has to wonder why developers have not been building high-rises in Midtown. I'm sure there is a logistical reason.
Either way it's not hard to understand why someone would choose to live in a high-rise in River Oaks over Midtown/downtown. Personally, I would want to be in the core of the city but not everyone in this suburban city is pro-urban.
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Because developers are in it to make money.
Downtown Austin works because of the Lake, proximity to UT and there are no other places to put up a true high rise in Austin.
In Houston, there are PROVEN areas for a residential high rise to work; mainly Uptown, River Oaks, Allen Parkway, Greenway Plaza/Upper Kirby, Hermann Park/Med Center. Downtown was an unknown until Finger Cos. opened One Park Place and it has proven to be highly successful. Sky House just opened. There's a race to get out of the ground by 4 other proposed residential high rises downtown. There's one rumored high rise for midtown but it'll be the first and therefore a risky proposition. It's hard to get lending with risk.