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Crane City - Why is there is Skyscraper boom in most major U.S. cities?
Posted on 1/19/24 at 7:43 am
Posted on 1/19/24 at 7:43 am
They just keep building. Look at all of these cranes. Who is funding all of these new high rises going up? Why are they funding these high rises? There can't be that big of a demand for the office/condo space for these massive buildings
It's not just happening in Atlanta - It seems every major city is having a building boom similar to this.
Hell, OKC is about to build a 100+ story skyscraper. OKC can't even fill up the space they have now. What's the point of building this massive thing?
Why are they just building these high rises everywhere knowing that they are going to sit half empty for years? Especially since inflation is high, materials costs are higher than ever
I don't understand why cities keep building when the majority of people still work from home.
It just doesn't make sense to me.
It's not just happening in Atlanta - It seems every major city is having a building boom similar to this.
Hell, OKC is about to build a 100+ story skyscraper. OKC can't even fill up the space they have now. What's the point of building this massive thing?
Why are they just building these high rises everywhere knowing that they are going to sit half empty for years? Especially since inflation is high, materials costs are higher than ever
I don't understand why cities keep building when the majority of people still work from home.
It just doesn't make sense to me.
31
Posted on 1/19/24 at 7:45 am to FLTech
Because they look cool AF
Posted on 1/19/24 at 7:46 am to FLTech
Subtle I live in a big city brag
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.
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 7:51 am to FLTech
The tall residential towers are used as stores of wealth. The office towers make no sense.
Posted on 1/19/24 at 7:51 am to FLTech
These people have a much firmer grasp on the macro economy than you do
Posted on 1/19/24 at 7:53 am to FLTech
Well, business structures were a great investment until Covid ruined it, and a lot of these take so long to get past all the government tape that all the financing contracts were signed 5 plus years ago.
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 7:57 am to FLTech
Housing for the homeless
Posted on 1/19/24 at 7:59 am to FLTech
MAGA is financing ie., Trumpster
Posted on 1/19/24 at 8:00 am to FLTech
I think it’s Wells Fargo that’s building another skyscraper in Dallas, where there is bountiful office space currently.
The reason? They don’t want to buy/renovate or rent space. They want their own building and have filthy amounts of money to do so.
It’s important to grasp just how much cash these companies and developers have, and local and state government often provide some nice incentives to build.
China is an example of this on steroids where they overbuilt…. Like entire cities of empty buildings and space.
The reason? They don’t want to buy/renovate or rent space. They want their own building and have filthy amounts of money to do so.
It’s important to grasp just how much cash these companies and developers have, and local and state government often provide some nice incentives to build.
China is an example of this on steroids where they overbuilt…. Like entire cities of empty buildings and space.
This post was edited on 1/19/24 at 8:02 am
Posted on 1/19/24 at 8:02 am to FLTech
fricking OKC man. I've been one time in 7 years and won't go back. Bricktown is a shithole.
Even though I live in Oklahoma, I go to Dallas way more than Tulsa or OKC.
Even though I live in Oklahoma, I go to Dallas way more than Tulsa or OKC.
Posted on 1/19/24 at 8:03 am to FLTech
Birmingham isn’t in a skyscraper boom, but more like a “luxury apartment” boom. The unoccupied rates in the ones already built are extremely high, yet they keep building more. It’s the weirdest thing. Gotta think somebody is building for tax write offs or loop holes because the demand does not seem to be there.
Posted on 1/19/24 at 8:04 am to FLTech
If you’re talking about Manhattan, the answer is money laundering.
Posted on 1/19/24 at 8:06 am to FLTech
Vertical living is coming. Office space converted to multi family and mixed use
Posted on 1/19/24 at 8:12 am to rattlebucket
quote:
Vertical living is coming. Office space converted to multi family and mixed use
Maybe. I’d prefer the Line, that mostly horizontal thing in Saudi Arabia over vertical, if I was forced to choose.
Posted on 1/19/24 at 8:15 am to parrothead
quote:
Gotta think somebody is building for tax write offs or loop holes because the demand does not seem to be there.
Tax write offs then they’ll become section 8 in a few years when they can’t rent them to qualified tenants.
Posted on 1/19/24 at 8:18 am to FLTech
Nashville is a prime example. Building occupancies all time low and there’s construction cranes all over the place.
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