Skip to comments.High-Rise Apartment Buildings Sprout in Downtowns Nationwide
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 andwith monthly rents ranging from $1,450 for a studio to $9,000 for a penthousecharging 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 2015the 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 ...
Car traffic is becoming so hideous that the suburbs are no longer viable.
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.
Ton of them going up in Downtown Dallas.
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.
Needs a fireplace. And I don’t see the wet bar, but it might be behind the camera.
Where is the nearest grocery store?
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.
That’s already happening in the burbs, thanks to Section 8.
You live in that place? You have your groceries delivered.
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.
LOL! Nothing is stopping them............yet. Minnesota, winter time, tons of fun.
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. :)
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.
Only because liberals won’t let us build more roads and pour money into public transit and trains.
I bet that’s awesome.
We are planning on visiting Prague next year, can’t wait.
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.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.