$450 to $550 seems like the price for detached homes.
For a 2BR apartment at 850 sqft, that's $425,000. In the Bay Area I presume,
Anecdotally, from memory, the price of high quality apartment, globally, varies around the $125,000 to $200,000 USD mark. Depending as you say, on materials. The interesting fact I was told is this price scales linearly with high rise, for quite a long time.
85 stories can and will average out to the magic $200,000.
Even presumably adding a Bay Area markup, a $300,000 cost of construction is eminently affordable.
For 2BR apartments for childless couples, $300,000 is a excellent.
To me, the obstacle is purely zoning and supply side constraints for large high rises. Singapore style high rises given proper zoning would provide umpteenth $250,000 two bedroom apartments, on Singapore sized parcels of land.
Providing sufficient land, construction of high rise units would grossly improve the housing affordability situation.
It's purely a zoning/public services provisioning issue.
For a 2BR apartment at 850 sqft, that's $425,000. In the Bay Area I presume,
Anecdotally, from memory, the price of high quality apartment, globally, varies around the $125,000 to $200,000 USD mark. Depending as you say, on materials. The interesting fact I was told is this price scales linearly with high rise, for quite a long time.
85 stories can and will average out to the magic $200,000.
Even presumably adding a Bay Area markup, a $300,000 cost of construction is eminently affordable.
For 2BR apartments for childless couples, $300,000 is a excellent.
To me, the obstacle is purely zoning and supply side constraints for large high rises. Singapore style high rises given proper zoning would provide umpteenth $250,000 two bedroom apartments, on Singapore sized parcels of land.
Providing sufficient land, construction of high rise units would grossly improve the housing affordability situation.
It's purely a zoning/public services provisioning issue.