Tucy wrote:But the lack of interest in purchasing units started long before any of that; before the building was slated to be 42 stories, before they selected the highly-reflective glass, before the Pension Fund was involved.
Again, that is why, for years, they could not find anybody willing to invest or loan money to build the tower, until the Pension Fund came along with other peoples' money.
Interesting postulation, that the lack of interest in purchasing units started long before any of that.... We should remember where we're talking about, this is inside the Dallas Arts District. The Nasher Sculpture Center is one of the cornerstones, without which interest in anything in or around the Arts District is diminished. It's a nice circle, there: "Nothing is there; therefore, no interest. Something is there now, but there was no interest before; therefore, no interest. That's the same sort of thought process that got the Pension Fund fat cats in trouble.
Look at this neighborhood. 40 years ago it was an undesirable part of town. No interest. All that was left of the fancy mansion silk stocking row is one house occupied by a Lawyer's Association. So little concern for the neighborhood a big fat gay bar could thrive under the radar while that lifestyle was still punishable by law. Now, we have a beautiful, offensive condo skyscraper that's just about sold out.
The interest in anything is potential energy until a catalyst makes it kinetic. The Dallas Arts Community made the neighborhood possible when everything started moving from Fair Park. Millionaire philanthropists steadily built a collection of Art Venues with appeal domestic appeal. Now, attention is international, and increasing in prominence, stature, reputation.
Spit in the face of your philanthropic best friend, the door will slammed in your face. These folks were in queue to get the first residential building in the Dallas Arts District off the ground. They were turned away.
Museum Tower is finally doing great. Certainly could have been a better start.
Putting all this behind us, Tucy, because there's not an inch of back-up in you and there's not an inch of back-up in me (that's part of why I {forum} love you).... let's get Museum Tower to the point where only 3 or 4 units are for sale, out of 100 units, some will be for sale almost all the time.
What's the one thing that could be done to improve the value of all units in the building? Is there anything at all that would increase the desirability of owning a Museum Tower apartment? Something? Nothing? Wait!!! Cease the reflective damage to the Nasher Sculpture Center, could that help increase the value of Museum Tower?