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High-Rise Apartment Buildings Sprout in Downtowns Nationwide
The Wall Street Journal ^ | April 25, 2014 | Conor Dougherty

Posted on 04/26/2014 11:21:33 AM PDT by MinorityRepublican

It would be hard to confuse Minneapolis for Manhattan, but the Nic on Fifth might make it possible.

The Nic on Fifth is new 26-story apartment building that sits smack on a light-rail stop and boasts amenities like a pool deck and a private dog park. From the top floor you can see miles of the Mississippi river and the field where the Minnesota Twins play.

When the building opens in August, it will be one of two new rental towers that are stretching this city's skyline and—with monthly rents ranging from $1,450 for a studio to $9,000 for a penthouse—charging prices rarely seen in the Twin Cities.

Minneapolis isn't the only place building upward. While the U.S. housing market as a whole may still be creeping back from recession, downtowns around the country are seeing a veritable boom in high-rise apartment buildings.

This year, 74 rental towers are on pace to be completed, and there are 81 on the books for 2015—the highest number since at least the 1970s, according to Axiometrics, a Dallas apartment-research firm that defines a tower as 15 stories or more. At the same time, strong apartment rents and sluggish demand for office space have resulted in some high-rise buildings being converted to apartments.

Overall, the growth has been largest in denser and pricier markets like San Francisco, New York and Chicago. But in percentage terms, the increase has been most dramatic in smaller cities like Minneapolis, which is building apartments, including high-rise apartment buildings, at the fastest pace in decades.

In Austin, the seven apartment towers that will be completed between 2013 and 2015 compares with four from 2005 to 2012, according to Axiometrics. Houston has eight apartment towers set to be completed in 2014 and 2015, compared with six from 2005 to 2012.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: agenda21; highrise; hightiseboom; minneapolis
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1 posted on 04/26/2014 11:21:33 AM PDT by MinorityRepublican
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To: MinorityRepublican

Car traffic is becoming so hideous that the suburbs are no longer viable.


2 posted on 04/26/2014 11:23:32 AM PDT by babble-on
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To: MinorityRepublican

Yup. No need for your own transportation. Part of the plan to move folks out of the countryside and in to the cities. I’m sure there are plenty of urban dwellers that absolutely LOVE this idea. No need to go out in to the rural areas for anything. Yucky toofless hillbillies live out there.


3 posted on 04/26/2014 11:24:25 AM PDT by rktman (Ethnicity: Nascarian. Race: Daytonianfivehundrian)
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To: MinorityRepublican
I always wanted to live in a high-rise. Not those ugly HUD units you see in Detroit and in the Bronx but something more like this.


4 posted on 04/26/2014 11:29:50 AM PDT by SamAdams76
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To: MinorityRepublican

Ton of them going up in Downtown Dallas.


5 posted on 04/26/2014 11:30:27 AM PDT by dfwgator
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To: rktman

Dude, nothing is stopping anyone from living in the suburbs or even the country. Some people simply don’t want to deal with the driving. Especially in Minnesota, of all places.


6 posted on 04/26/2014 11:31:19 AM PDT by 1rudeboy
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To: SamAdams76

Needs a fireplace. And I don’t see the wet bar, but it might be behind the camera.


7 posted on 04/26/2014 11:32:30 AM PDT by 1rudeboy
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To: SamAdams76

Where is the nearest grocery store?


8 posted on 04/26/2014 11:33:03 AM PDT by dfwgator
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To: MinorityRepublican
with monthly rents ranging from $1,450 for a studio to $9,000 for a penthouse—charging prices rarely seen in the Twin Cities

Until some liberal federal judge decides t o poor are being discriminated against and orders 20% of the apartments be rented to low income housing recipients. Then you'll have a nice ghetto in the middle of your city.

See how many people want to pay 1500 a month to live next door to Teniqua and Rasheedy and their thumping rap music.

9 posted on 04/26/2014 11:34:27 AM PDT by metalurgist ( Want your country back? It'll take guns and rope. Marxists won't give up peaceably.)
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To: metalurgist

That’s already happening in the burbs, thanks to Section 8.


10 posted on 04/26/2014 11:35:21 AM PDT by dfwgator
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To: dfwgator

You live in that place? You have your groceries delivered.


11 posted on 04/26/2014 11:36:01 AM PDT by 1rudeboy
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To: dfwgator
John Hancock building in Chicago has a supermarket on the 44th floor.
12 posted on 04/26/2014 11:36:03 AM PDT by SamAdams76
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To: MinorityRepublican

This new urbanism is an attack on the conservatives who prefer the comfort and safety of the suburbs.

These condo towers serve the function of drastically increasing urban property values, drawing the wealthy from the suburbs and thus hurting suburban property values which thereby force those who once lived in the urban blight to the suburbs.

That in turn increases crime in the suburbs and impacts those who worked hard to buy a piece of the American Dream out in the conservative suburbs.


13 posted on 04/26/2014 11:36:03 AM PDT by Oliviaforever
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To: 1rudeboy

LOL! Nothing is stopping them............yet. Minnesota, winter time, tons of fun.


14 posted on 04/26/2014 11:36:32 AM PDT by rktman (Ethnicity: Nascarian. Race: Daytonianfivehundrian)
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To: dfwgator

Well, in the 14-storey building I live in (on the 14th floor, with a view of the Carpathian Mountains), the nearest grocery store is on the ground floor.

So I just take a trip downstairs.

Also, my bank and the post office is on the ground floor as well. And the tobacconist as well. :)


15 posted on 04/26/2014 11:39:57 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: dfwgator
Ton of them going up in Downtown Dallas.

Lots of them going up in Hollywood, Ca too... but I wouldn't want to live in a highrise in Los Angeles. Besides, there's no parking around there already... will be 10 times worse with these things.

16 posted on 04/26/2014 11:41:56 AM PDT by Cementjungle
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To: babble-on

Only because liberals won’t let us build more roads and pour money into public transit and trains.


17 posted on 04/26/2014 11:42:49 AM PDT by tbw2
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To: AnAmericanAbroad

I bet that’s awesome.

We are planning on visiting Prague next year, can’t wait.


18 posted on 04/26/2014 11:43:58 AM PDT by dfwgator
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To: Oliviaforever
This new urbanism is an attack on the conservatives who prefer the comfort and safety of the suburbs.

I don't see it as a threat to the suburbs. I did my time in the suburbs, raised my 2.2 kids there and did the whole Little League routine with the endless car trips to Blockbuster's, Chuck E Cheese, bowling alleys, strip malls, miniature golf, ice cream stands, and so on.

I mowed lawns, raked leaves, shoveled snow, painted sheds, cut firewood and all that other suburban kind of stuff. I hosted easily 2,000 backyard barbecues over the years with neighbors in sport shirts drinking cold long necks, getting bit by mosquitoes and having to spray for ants, wasps and other pests.

Now that the kids are grown, I yearn for a less complicated life. I find a condo in an urban high-rise pretty appealing. Zillions of restaurants and cafes within walking distance of the ground floor. A balcony to sip a glass of wine, read a book and take in the view. A pair of binoculars to be a nosy neighbor without ever knowing who they are. Enough space for the wife and I but not enough space to host "extend-their-welcome" guests.

19 posted on 04/26/2014 11:44:23 AM PDT by SamAdams76
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To: metalurgist

It’s all part of the plan by HUD, the DNC and big city politicians to create population density with even more people as they know that the higher the density of a population, the more liberal the people will be.

Look at the most densely populated cities in America. New York, San Francisco, Chicago, Boston and the are all very liberal Democratic strongholds.

Do not think that this is all coincidence.

They want to destroy the suburbs socially, politically and economically and that will draw the poor to the suburbs causing suburban areas to also go Democrat.


20 posted on 04/26/2014 11:44:59 AM PDT by Oliviaforever
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To: Oliviaforever

On the other hand, could it also mean more conservative voters will move to the cities and dilute the liberal stranglehold they have now?


21 posted on 04/26/2014 11:45:52 AM PDT by dfwgator
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To: MinorityRepublican

http://www.bostonglobe.com/business/2013/07/25/boston-backs-development-smaller-living-units/fRdGirr9DkCplNgfXu6GSI/story.html

Boston is pushing toward ultra-small apartments so that young professionals can afford to live in the city. The new apartments are about 450 square feet (total) and cost about $2000 a month.

It’s all about affordability.

And Agenda 21.


22 posted on 04/26/2014 11:46:36 AM PDT by ClearCase_guy
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To: dfwgator
Prague is indeed a beautiful city; the pearl of Central Europe. If you have time, I also recommend you take a day-trip to a city called Český Krumlov, in the southern part of the Czech Republic.
23 posted on 04/26/2014 11:46:56 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: SamAdams76
If you live in a highrise, it's obligatory to own a telescope. Binocs are lowbrow.

Girl I know (a cutie) was checking out her "neighbors" one day. Saw a guy looking through a telescope. She waved. He waved back.

24 posted on 04/26/2014 11:47:28 AM PDT by 1rudeboy
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To: AnAmericanAbroad

The tour we’re looking at goes through there.


25 posted on 04/26/2014 11:47:34 AM PDT by dfwgator
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To: SamAdams76

Yes, all of that may appeal to you, but the facts are that the higher the density of a population, the more likely the residents of that area will be Democrat.

I’m not saying that it would ever turn you into a liberal, but statistically, people become more liberal when they live in densely populated urban areas.


26 posted on 04/26/2014 11:48:58 AM PDT by Oliviaforever
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To: MinorityRepublican

That’s not news, this has been going on for quite some time in Seattle.


27 posted on 04/26/2014 11:48:58 AM PDT by Vinylly (?)
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To: AnAmericanAbroad

If your grocery store sells booze, you truly live in heaven.


28 posted on 04/26/2014 11:49:50 AM PDT by 1rudeboy
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To: dfwgator

Excellent. It’s a beautiful place. I hope you enjoy your trip to the Czech Republic.

Personally, I love living here. No complaints on my part!


29 posted on 04/26/2014 11:50:56 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: 1rudeboy

Yes, grocery stores here all sell booze. Sort of like California, and pretty much all the major US brands, Jack Daniels, etc., can be found here, as well as local brands and types of booze.

And of course, beer. Oceans and oceans of beer, LOL!


30 posted on 04/26/2014 11:52:26 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: dfwgator

“On the other hand, could it also mean more conservative voters will move to the cities and dilute the liberal stranglehold they have now?”

It could mean that, but it does not mean that.

You cannot find one urban area in the US with a densely populated population that not only does not vote Democrat, but has become even more Democrat over the last ten years.


31 posted on 04/26/2014 11:53:07 AM PDT by Oliviaforever
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To: MinorityRepublican

Central suburban NJ, tons of 3 floor condos going up these days..


32 posted on 04/26/2014 11:54:01 AM PDT by jughandle ( "We have the right to debate and disagree with any administration!" -HRC)
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To: MinorityRepublican
In real estate economics, the first sign of a RE recovery is an increase in rents, then followed by an increase in the building/new construction of rental units.

And we have a long way to go.

33 posted on 04/26/2014 11:55:46 AM PDT by RoosterRedux
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To: Oliviaforever
Well I live in Massachusetts already and often work in NYC so if I haven't been corrupted by now, I never will!

It's a pipe dream anyway because I could never afford the type of high-rise apartment that would suit my needs. Maybe I could afford a brownstone condo unit in Back Bay or Brooklyn - we'll see!

34 posted on 04/26/2014 11:56:03 AM PDT by SamAdams76
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To: Oliviaforever

The gubmints plan is to have EVERYONE living in those high rise death traps. They HAVE TO SAVE the environment out there in the country so putting everyone one in those boxes would make it much better? (sarc)


35 posted on 04/26/2014 11:56:03 AM PDT by DaveA37
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To: MinorityRepublican

Driving in on this highway
All these cars and upon the sidewalk
People in every direction
No words exchanged
No time to exchange

And all the little ants are marching
Red and black antennas waving
They all do it the same
They all do it the same way

36 posted on 04/26/2014 11:59:35 AM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: Oliviaforever

When I was in my 20s and single, urban living was OK. Now that I’m approaching 60, you couldn’t pay me enough to go back to it and leave small town life.


37 posted on 04/26/2014 11:59:55 AM PDT by Marathoner (When Obama fails, freedom prevails)
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To: babble-on

I’ve lived in one for about 15 years. Cut my commute from 75 minutes to 3. I put 6500 miles on my car in the last two years. The gas savings is really nice. Urban living does have advantages however it’s really more of a young folks lifestyle. This is why I’m shopping for a suburban home again.


38 posted on 04/26/2014 12:04:49 PM PDT by slouper (LWRC SPR 223)
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To: babble-on

Agenda 21 will have everyone living in downtown high rises. Easier for the elites to control the masses. Downtown will be a deathtrap when the EBT cards read “Error” and the feral tribal parasites begin rioting.


39 posted on 04/26/2014 12:08:11 PM PDT by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: RoosterRedux

“In real estate economics, the first sign of a RE recovery is an increase in rents, then followed by an increase in the building/new construction of rental units.”

Real estate is very local. In my county, there are many high density apartment projects under construction, right now.

They are often built as individual condos but kept as rentals, awaiting the time later when the owner can benefit from selling them off separately.

Historically in the area, 2 stories was typical. Now the new projects are four stories.

The project provides for parking on site, but there are no new streets, roads, highways. So traffic will eventually be worse.

Some of these apartment projects are going up, on previous retail sites. Retail was overbuilt, so it solves that.

(I’m describing projects in Orange County, California.)


40 posted on 04/26/2014 12:09:18 PM PDT by truth_seeker
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To: dfwgator

I’ll keep the rural life I was born into-it is hard at times, trashy by city standards, and you do have to drive your 4X4 to the grocery store, and provide your own protection-just about anything else can be ordered online, or by phone.

But it is cheaper, the air is clean and after dark there are the sounds of donkeys, coyotes, owls, and the occasional dog instead of sirens...

No matter how elegant and convenient the condo/apt/flat, even if I could afford those prices, just the thought makes me claustrophobic-I’m not a bee or an ant-I’d run away screaming in a week or less...


41 posted on 04/26/2014 12:09:52 PM PDT by Texan5 ("You've got to saddle up your boys, you've got to draw a hard line"...)
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To: Oliviaforever
The Illuminati, or whoever you thinks runs the world, is not going to spend millions of dollars building highrises unless they think that people will want to live in them.

If the Illuminati is really running the world, then why did they allow forced busing to happen? That was the biggest incentive for getting the middle class to move out of city centers in order so they could send their kids to neighborhood schools.

If some people are moving back toward city centers because the traffic is getting horrible or because they prefer a more urban lifestyle, and investors are willing to meet the demand by building highrises then so be it.

42 posted on 04/26/2014 12:13:33 PM PDT by who_would_fardels_bear
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To: AnAmericanAbroad
I (once) lived in a Chicago highrise that was so incredible, my friends started moving into it after coming to visit me. Fantastic: waking up in the morning, throwing on a bathrobe and some bunny slippers, and heading up to the 37th floor to let myself in and "steal" some coffee. Then saying 'hi' to my Armani-clad neighbors on their way to work during the elevator ride back down.

My grocery store didn't sell booze, but I never ran out. My takeout drivers would know to call me when on their way to ask if I needed any.

The pizza driver was so smart that he figured out that, when I called after midnight to order a pizza, I didn't want the pizza. ;)

43 posted on 04/26/2014 12:14:49 PM PDT by 1rudeboy
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To: dfwgator

And we have a lot going up all over in Houston. Ongoing battle between home owners in small, older single family dwellings living within the 610 Loop versus the City and high rise builders. Narrow side streets which currently have maybe 20 homes and 40 cars being replaced by thousands and thousands of high rise residents with thousands of cars. The mayor has to have all those tax dollars.

Drove from Houston to Pottsboro weekend before Thanksgiving last year on Highway 75. Lots of road construction. Thought I’d never get through Dallas and I thought Houston was bad. Won’t do that again.


44 posted on 04/26/2014 12:19:11 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: MinorityRepublican

Along 75 in Dallas, they are everywhere.....$1200 to $2500 for 900 square feet. Ugh.


45 posted on 04/26/2014 12:23:59 PM PDT by Dallas59 ("Remember me as you pass by, As you are now, so once was I, As I am now, so you will be," -Epitap)
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To: MinorityRepublican

Life in “The Hive”.


46 posted on 04/26/2014 12:27:48 PM PDT by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: AnAmericanAbroad

I used to like parking my car in the high-rises garage and the dry cleaners was right inside the door of the building. Pick up laundry, elevator to the 35th, and my work clothes are done for the week.


47 posted on 04/26/2014 12:28:34 PM PDT by glorgau
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To: MinorityRepublican

Tiny cubicals for environmental idiots!!!


48 posted on 04/26/2014 12:30:57 PM PDT by dalereed
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To: who_would_fardels_bear

Obviously there are Demand pressures which have caused a Supply of high rise condo towers in urban areas.

However, there are powers at work here that are far beyond Free Market factors.

For example, it is not uncommon for the developers of these condo towers to receive tax abatements from local governments. It is also not uncommon for HUD and other federal agencies to aid in the financing of these liberal urban condo towers.

It is extremely common to see cites invest transportation funds into public transit and urban roads and bicycle lanes and ignore the funding for expressways to and from central business districts and the suburbs.

And now they are even building HUD housing projects out in the suburbs not far from suburban schools, parks, Christian churches, Bed Bath and Beyond, Applebees, Chucky E Cheese and even fine department stores.


49 posted on 04/26/2014 12:31:56 PM PDT by Oliviaforever
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To: MinorityRepublican

Expensive, vertically stacked, glorified closets in the sky with the concrete jungle down below. No danke.


50 posted on 04/26/2014 12:37:34 PM PDT by tflabo (Truth or Tyranny)
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