Get a load of this multi-chromatic character that’s recently taken shape on York St., between Lamar and McKinney streets: EaDo Storage. Built in place of the Randolph Office Furniture Exchange warehouse that bit the dust in early 2017, the new 107,677-sq.-ft. facility takes up the entire block. It isn’t yet open.
You can see a few cherry-pickers applying the finishing touches to the structure’s exterior in the photo above. If the rendering the business put out last month is to be believed, new trees and hedges should be on the way, too:
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Photo: Eastwood Realty. Rendering: EaDo Storage
EaDo Storage
Every time I see one of these things in a prime location, I can’t help but think what a colossal waste of money and space they are.
It’s fitting given their somewhat neighbors with the Houston Dynamo.
We’re with GlenW on this. Is there a paper or analysis around that generally explains the market forces that render this use of dirt for storage facilities more lucrative than some other use?
I’ve always understood that these things are real estate place-holders to generate modest income (to pay taxes) until something far more lucrative comes along, or prices appreciate significantly. Having said that, some storage place have been around a long, long time.
Storage facilities aren’t a waste of money and space for the people who rent units in them. Modern housing tends to be lacking in storage space, so some people rent units to store seasonal clothing, lawn supplies, etc.
I have a friend who buys in quantity at auctions and resells on eBay. He would have nowhere to store his wares if there weren’t storage units. They’re a lifesaver for people who are between apartments, and would otherwise be faced with losing a lifetime’s worth of possessions.
Storage units are so popular that they have their own TV series. Before condemning them, consider that other peoples lifestyles may be different from ones own.
Storage facilities actually generate a decent amount of money for the land owner. The buildings themselves aren’t that expensive to build and there’s minimal expenses on staff/maintenance. EaDo has the right density of residential, including renters who often can’t fit all their crap in their tiny apartment. And yeah, it’s also not a bad strategy for investment to plop down a storage building to cover property taxes and generate income until the land becomes more valuable.