But joining the fraternity of cities with supertalls can also be a dubious distinction: Real estate is a lagging indicator, and skyscrapers often arrive after the boom is over, looming half-empty as monuments to a bust. Others, however, are convinced that Austin’s high-rise stampede is just getting started.
Given the city’s emerging significance as a next-gen manufacturing hub this building boom could defy the skyscraper effect.
— Bloomberg
With a slate of high-rises and supertalls, including KPF’s Waterline design and the record-setting Wilson Tower from HKS in the works, Bloomberg asks if the pace of development can be sustained amidst tech’s downturn and the annals of urban economic history. The salvation apparently lies in the influx of manufacturing dollars into the city, along with a downtown area that offers what some consider to be the nation’s highest overall quality of living.
A planned cap-and-stitch project could add even more commercial parcels along a stretch of I-35 downtown beginning in 2025. The risks of repeating the same tax incentive-driven boom-bust cycle that led to so many of Dubai’s architectural headaches a decade ago are not lost on developers. For now, Austin’s only real crisis is the affordability of homes and a dearth of convenient worker housing.
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