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re: Crane City - Why is there is Skyscraper boom in most major U.S. cities?
Posted on 1/19/24 at 7:48 am to FLTech
Posted on 1/19/24 at 7:48 am to FLTech
I know Austin has a major issue with downtown office space being empty yet they keep building more. Saw a report a few weeks ago that less than 48% of downtown commercial property is occupied.
4
Posted on 1/19/24 at 7:50 am to BabyTac
That's my point. I just don't understand why they are building and building and building when it's exactly what you said, 1/2 the current inventory spaces are vacant
Posted on 1/19/24 at 7:55 am to BabyTac
quote:
I know Austin has a major issue with downtown office space being empty yet they keep building more. Saw a report a few weeks ago that less than 48% of downtown commercial property is occupied.
I wonder if they are building more "flexible" spaces. I've read that converting office space to apartments usually isn't as simple or even as feasible as you would suspect. While there isn't as much demand for office space housing still seems in short supply in certain metro areas like Austin and Nashville.
I've been wondering this too - many companies are starting to (or already have) give up on "return to work" initiatives.
Posted on 1/19/24 at 8:30 am to BabyTac
quote:
Austin
The exorbitant property taxes aren’t helping at all and driving people away.
I saw where some of their tech startups have moved away.
Nashville is also experiencing a huge downtown expansion. I think like 12 new hotel towers are popping up at the moment.
Posted on 1/19/24 at 10:43 am to BabyTac
It’s only gonna get worse once some of those leases expire and the companies realize there’s no use signing a new one since so many employees have opted to continue working from home.
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