Founder's Note: September
From September 2005
Community Comments
Supply and Demand Equals the Truth
by Warren Smith
For native and long-time Sacramentans — and Bay Area refugees moving here for family rooms and three-car garages — the high-rise living phenomena discussed in this month’s cover story is puzzling. Who wants to live 20, 30 or 40 stories up? We wonder who’s willing to give up romps on the grass, grilling and dashing out to retrieve the newspaper in their boxers. I can’t imagine.
I am forced to imagine though where 100,000 new residents every year for the next 10 are going to live. Suburbia is becoming standing room only, and available land is scarce. Harrison Sheppard reports that according to developer John Saca, if a project the size of The Towers (53 stories) was built horizontally in the suburbs, it would take up some 150 acres of farmland, instead of two or three acres of urban infill.
So, are high-rise condos the only option for those getting into real estate too late or young families just starting out?
Apparently not. Sheppard says developers are convinced it’s a choice thing. The interest in high-rise living is among the I-can-live-anywhere set. The mood is swinging. All over the country, suburban professionals are flocking back to the city for quality-of-life reasons. In a polluted environment with chronic traffic congestion, they see easy access to work leaving more time for play. I can personally attest that saying so long to the lawn could also free up some quality time.
Still, I guess I just don’t fit the profile. I’m not a retiring baby-boomer, I don’t have a big commute, and I’m not a DINK (Double-income no kids). High-rise living seems so confining.
My great friend and partner Bob Hemond has an adage that is brilliant in its simplicity. Supply and demand equals the truth. Only time will tell if the high-rise living phenomena takes off, but meanwhile, what an exciting time to live in a city undergoing such a huge transformation.
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Community Comments