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Daily Real Estate News | May 6, 2002 |
Lofty Condo: High-Rise Ownership Catches On
An increasing number of homebuyers are flocking to luxury high-rises in big cities such as Boston, Miami, Las Vegas, Los Angeles, Atlanta, and Dallas. Why? To live the city life.
Diminishing land in urban areas is another driver of the trend. As the amount of available land diminishes in dense housing markets, especially in Nevada, California, and Florida, residential towers will become more commonplace.
According to Blaine Weber of the Seattle-based architectural firm Weber + Thompson, homebuyers often choose their high-rise apartment, condominium, townhouse, or penthouse based on the facility's amenities.
For that reason, high-rises must offer the right amenities, including an upscale lobby, exercise facilities, and high-quality furnishings. Many may also feature gourmet restaurants, concierge, room service, maids, and even limousines.
Though many residents are older homeowners trading up, many single professionals and young families are choosing vertical living as well. That's because many luxury high-rise owners view vertical living as the good life--proof that they have made it to the top.
Source: Unique Homes (05/02); Paist, Frances Maguire
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