[Pumapayam]

lockmat, on Thursday, July 24th, 2008 @ 2:55pm, said:

Do we know this already...

Jesse, that tower news is SO May 2008 man!

Just messing.

[lockmat]

Pumapayam, on Thursday, July 24th, 2008 @ 3:46pm, said:

Jesse, that tower news is SO May 2008 man!

Just messing.

A bad memory gets to celebrate things on more than one occassion

[citizen4rmptown]

ChannelTwoNews, on Saturday, June 14th, 2008 @ 11:16am, said:

Not to quote myself only several posts up this very same page, but...

so the balconies are the gray colored part, right?

[Pumapayam]

The layout, I did not see it posted before.

[ingleberg]

This was taken today:

[lockmat]

http://www.bizjourna...04/daily32.html

Whole Foods says Houston store still a go despite plans to cut back

[swtsig]

lockmat, on Wednesday, August 6th, 2008 @ 9:12pm, said:

http://www.bizjourna...04/daily32.html

Whole Foods says Houston store still a go despite plans to cut back

of course it's still a go... this store will make a fortune.

[lockmat]

Colvill Office Properties has been tapped to find tenants for the 350,000 square feet of office space planned for BLVD Place, a mixed-use develop-
ment at the corner of Post Oak Boulevard and San Felipe.

The 1.8-million-square-foot project was designed with a series of four-story buildings — half occupied by shops and restaurants and the rest by offices — with a nine-story office tower of about 180,000 square feet. A hotel and residential tower are also planned.

Assuming there's pre-leasing, the tower could break ground next year with delivery expected in 2010.

"The Galleria is pretty tight on space," said Chip Colvill, president of Colvill Office Properties. "If you're a 30,000-square-foot tenant, there are very limited options out there."

Despite a leveling out of leasing activity across the Houston area, the Uptown office market is more than 90 percent occupied, Colvill said.

Companies are already negotiating leases in the first building now under construction with about 35,000 square feet of office space.

It will also house restaurants Cafe Annie and Americas, as well as other retailers relocating from the adjacent shopping center that will be torn down to make way for a new Whole Foods.

The project's developer, Wulfe & Co., plans to have an office in the new building, Colvill said.

"I can't say who the other tenants are yet, but we're not just making proposals. There are actually tenants that are in lease negotiations," he said.

Office rents at BLVD Place will be in the mid-$30s-per-square-foot range, plus operating expenses.

"It's certainly at the top of the market, but it's going to be top-of-the-market product," he said.

http://www.chron.com...7071.html#Intro

[lockmat]

Not sure if this picture of Whole Foods has been posted...

[swtsig]

no it has not... nice find.

[Montrose1100]

Is that leafs? or is it painted green?

[mls1202]

No, I imagine that it is ivy that is shown, not paint.

[Montrose1100]

mls1202, on Monday, September 29th, 2008 @ 3:51am, said:

No, I imagine that it is ivy that is shown, not paint.

Thank god. lol. Its going to look so amazing. Can't wait to move back to Houston in 2 years!

[wxman]

Condo Tower scraped? Big time downsize of the Ritz??? See for yourself...(I'm inferring this)

http://www.khou.com/...t.d59a8d1b.html

[lockmat]

wxman, on Friday, October 3rd, 2008 @ 10:55am, said:

Condo Tower scraped? Big time downsize of the Ritz??? See for yourself...(I'm inferring this)

http://www.khou.com/...t.d59a8d1b.html

nooooooooo....

I'm no expert, but don't banks still need to continue making loans to a certain extent, regardless of the situation if we want to get out of this mess? If anything, maybe they can look at our healthy economy and invest in it. Especially since we cater to an international market, too.

This could be really bad timing for Houston and development

[swtsig]

making loans with what money? the credit markets are practically frozen right now, especially for projects requiring larger amounts of capital... so no, banks definitely do not need to continue making loans. quite the opposite, in fact... banks are hording whatever cash they do have in order to ensure that their depositors are protected.

and it isn't like this is an American problem, the credit markets across the globe are in serious strain right now, so our international exposure means little, i'd assume.

if the resue plan works, you'll definitely seeing an easing in the capital markets but some projects are bound to get redone, postponed, or scrapped altogether.

[rsb320]

Bailout passes in the House.

[fewellman]

Damn i knew this was going to happen this is really bad news. i was so excited about all the developments going up in Houston. Blvd place was going to be so awesome but if the Ritz its scaled down and the condo is removed it is just not going to be the same. It will just be another mediocre shoping center.

[Pumapayam]

fewellman, on Friday, October 3rd, 2008 @ 1:22pm, said:

Damn i knew this was going to happen this is really bad news. i was so excited about all the developments going up in Houston. Blvd place was going to be so awesome but if the Ritz its scaled down and the condo is removed it is just not going to be the same. It will just be another mediocre shoping center.

Looks like the issue was getting financing, I think the bill passing fixed that.

On a side note, I just despise down-sized projects.

It's like that ugly feeling you got at age 12 when you still have to do homework on Sunday evening.

[swtsig]

nowhere in the article or video did wulfe say they were downsizing the hotel or scrapping the condo altogether... not saying that that won't be the case, but at this point that is purely speculation.

[wxman]

swtsig, on Friday, October 3rd, 2008 @ 4:25pm, said:

nowhere in the article or video did wulfe say they were downsizing the hotel or scrapping the condo altogether... not saying that that won't be the case, but at this point that is purely speculation.

Your right. That's why I said I was inferring....

If you go back and watch the video or read the article, he clearly says that due to the financial crisis, they are going to have to revisit the project. To me, that can only mean one thing....not to mention that he said the Condo market in Houston was very soft. Hmmmmm, if they are going to revisit the project with a condo market that is soft, I figured it would be scraped. But again, Wulfe was not very clear.

This post has been edited by wxman: Friday, October 3, 2008 at 9:20 PM

[Captain Impossible]

This continues to be the best looking development currently being built in Houston.

[maceo9903]

If there is a God in heaven he will awnser my prayers and let this get built to it's original plans. Nothing scrapped or downsized. This is the project in Houston I am most excited about. I dont care if they stop everything else, just please let this one get built right!

[RedScare]

Pumapayam, on Friday, October 3rd, 2008 @ 1:28pm, said:

Looks like the issue was getting financing, I think the bill passing fixed that.

Umm, unless it got fixed on Saturday or today, the bill did NOT fix that. Go back and read your business section. The reason the Dow dropped AFTER the bill passed is because the credit markets did not budge.

[ProHouston]

RedScare, on Sunday, October 5th, 2008 @ 5:42pm, said:

Umm, unless it got fixed on Saturday or today, the bill did NOT fix that. Go back and read your business section. The reason the Dow dropped AFTER the bill passed is because the credit markets did not budge.

Things won't turn in a day.

[beparr]

Financing for a project like this would have been in place years ago. Now is the time to be building it so that by the time it's finished the economic situation will have turned and the project will be fresh for the market.

[totheskies]

maceo9903, on Sunday, October 5th, 2008 @ 9:56am, said:

If there is a God in heaven he will awnser my prayers and let this get built to it's original plans. Nothing scrapped or downsized. This is the project in Houston I am most excited about. I dont care if they stop everything else, just please let this one get built right!

LMAO, are you that serious?? condos and retail, but do we really need the 80-story office tower anyway?? What we need is street-level connectivity, and mixed use projects. The office tower to me is a snooooooze.

[Houston19514]

totheskies, on Friday, October 10th, 2008 @ 11:12am, said:

LMAO, are you that serious?? condos and retail, but do we really need the 80-story office tower anyway?? What we need is street-level connectivity, and mixed use projects. The office tower to me is a snooooooze.

Pay attention. There is no 80 story tower in BLVD Place, office or otherwise.

[totheskies]

Houston19514, on Friday, October 10th, 2008 @ 11:00pm, said:

Pay attention. There is no 80 story tower in BLVD Place, office or otherwise.

OMG... SORRY. 37-story, 40-story, whatever. We need connectivity.

[swtsig]

got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly... they still expected both to happen, but they will be phased in.

[maceo9903]

It's over! Another great project for Houston down the drain!

[Pumapayam]

swtsig, on Wednesday, October 15th, 2008 @ 7:46pm, said:

got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly... they still expected both to happen, but they will be phased in.

As long as the lots remain empty and undeveloped, that's cool. I don't want some low density project built with the promise that it is only temporary, and then it turns out permanent.

[ChannelTwoNews]

maceo9903, on Thursday, October 16th, 2008 @ 9:52am, said:

It's over! Another great project for Houston down the drain!

Yay, LTAWACS Jr!



I'm not surprised at the outcome thus far. It always seemed to like the original plan would deliver a bit too much, too quickly. A phased plan makes a bit more sense in the long run, so hopefully it will follow that course.

[maceo9903]

Im sorry Im of the beleif that it is easier to build the big things and phase in the small things as opposed to the opposite.

[The Great Hizzy!]

People are surprised that there are delays and cancelations of large-scaled mixed-use, residential and commercial projects in THIS economy? Seriously?

[swtsig]

The Great Hizzy!, on Thursday, October 16th, 2008 @ 4:43pm, said:

People are surprised that there are delays and cancelations of large-scaled mixed-use, residential and commercial projects in THIS economy? Seriously?

just wait for the "typical houston" response... that'll be neat.

[houston-development]

swtsig, on Wednesday, October 15th, 2008 @ 7:46pm, said:

got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly... they still expected both to happen, but they will be phased in.

i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

[bcnet]

houston-development, on Monday, October 20th, 2008 @ 11:47am, said:

i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

As a sub on this project I will also confirm this. We have been told at least 6 months of delays.

[marc]

One can only assume that the Trickle-Up phenomenon, as i like to call it, is going to come into effect. i think developers, corps., banks and such are holding their breath, waiting to see how this market mess plays out. At least, that's what i would do. Look around our country; projects almost completed will be; projects half way completed are stalled; projects which only have some sort of foundation work done are on hold indefinately; and anything proposed probably won't come down the pipeline for AT LEAST a year or so. Keep in mind our economy effects the World economy. We borrowed money from the Chinese, Europe, Japan and parts of the Middle East. Because we can't pay them back due to our own domestic shortfall of $$$$, they aren't likely to help us fund any AMERICAN projects any time soon. i think the only thing they would be interested in is taking advantage of our slumped market and either buy up projects or build new ones for THEIR companies and THEIR purposes.

m. What do you all think? Am i off base?

[H-Town Man]

For the last two years as all these cool things were proposed I kept thinking, "Please just get it off the ground before the next crisis comes in to ruin it all." Because that always seems to happen, just like the oil bust of the 80's happened right when we were about to build a tower that would have been taller than the Empire State Bldg. All these mixed-use projects were the spawn of the biggest boom this city has had since that time, and it looks like they're all getting nipped just as they were about to bud.

I wonder if the two downtown skyscrapers under construction will be cut back in height?

This post has been edited by H-Town Man: Monday, October 20, 2008 at 3:58 PM

[TheNiche]

marc, on Monday, October 20th, 2008 @ 1:55pm, said:

One can only assume that the Trickle-Up phenomenon, as i like to call it, is going to come into effect. i think developers, corps., banks and such are holding their breath, waiting to see how this market mess plays out. At least, that's what i would do. Look around our country; projects almost completed will be; projects half way completed are stalled; projects which only have some sort of foundation work done are on hold indefinately; and anything proposed probably won't come down the pipeline for AT LEAST a year or so. Keep in mind our economy effects the World economy. We borrowed money from the Chinese, Europe, Japan and parts of the Middle East. Because we can't pay them back due to our own domestic shortfall of $$$$, they aren't likely to help us fund any AMERICAN projects any time soon. i think the only thing they would be interested in is taking advantage of our slumped market and either buy up projects or build new ones for THEIR companies and THEIR purposes.

m. What do you all think? Am i off base?

Of all the capital allocated to real estate investments, less <5% of it is foreign direct investment (FDI). There is an international story to be told, but it isn't nearly that neat, clear-cut, or reactionary in nature, and it is occuring at a much higher level of finance.

[TheNiche]

H-Town Man, on Monday, October 20th, 2008 @ 3:56pm, said:

For the last two years as all these cool things were proposed I kept thinking, "Please just get it off the ground before the next crisis comes in to ruin it all." Because that always seems to happen, just like the oil bust of the 80's happened right when we were about to build a tower that would have been taller than the Empire State Bldg. All these mixed-use projects were the spawn of the biggest boom this city has had since that time, and it looks like they're all getting nipped just as they were about to bud.

I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

H-Town Man, on Monday, October 20th, 2008 @ 3:56pm, said:

I wonder if the two downtown skyscrapers under construction will be cut back in height?

Probably not. These projects already have financing in place and it would be unwise for the developers to try and rock the boat in this lending environment.

[H-Town Man]

TheNiche, on Monday, October 20th, 2008 @ 4:32pm, said:

I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

Great - fill us in on what Mark Doutzer says. Because obviously I was seriously suggesting that tall buildings were what caused this and the last downfall.

[houston-development]

bcnet, on Monday, October 20th, 2008 @ 1:42pm, said:

We have been told at least 6 months of delays.

i would be absolutely shocked if hanover starts construction in six months. anticipate a two to three year delay. however, if the economy comes roaring back, this could change. hanover is completely changing their business plan. unfortunately, im not at liberty to discuss the specifics but will say that developing highrises, going forward, are doubtful in the near future.

[TheNiche]

H-Town Man, on Tuesday, October 21st, 2008 @ 9:26am, said:

Great - fill us in on what Mark Doutzer says. Because obviously I was seriously suggesting that tall buildings were what caused this and the last downfall.

I never meant to imply that tall buildings cause real estate asset bubbles or the popping thereof. You are confusing correlation with cause. And I am only looking for an indicator.

[H-Town Man]

TheNiche, on Tuesday, October 21st, 2008 @ 10:47am, said:

I never meant to imply that tall buildings cause real estate asset bubbles or the popping thereof. You are confusing correlation with cause. And I am only looking for an indicator.

No, you suggested that I was implying that, and then mocked me for it.

[TheNiche]

H-Town Man, on Tuesday, October 21st, 2008 @ 1:51pm, said:

No, you suggested that I was implying that, and then mocked me for it.

I'm sorry if it came off that way, but that wasn't my intent at all.

[swtsig]

TheNiche, on Monday, October 20th, 2008 @ 4:32pm, said:

I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.



Probably not. These projects already have financing in place and it would be unwise for the developers to try and rock the boat in this lending environment.

did you go to his presentation yesterday at the fed? really wish i could have attended that.

[H-Town Man]

TheNiche, on Monday, October 20th, 2008 @ 4:32pm, said:

I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

That isn't mocking?

[TheNiche]

swtsig, on Tuesday, October 21st, 2008 @ 2:02pm, said:

did you go to his presentation yesterday at the fed? really wish i could have attended that.

Nope, but was planning to as well. He uses a lot of canned presentations, though, and I'd suspect it was pretty similar to the one at the link below:

http://recenter.tamu...101608S1024.pdf

H-Town Man, on Tuesday, October 21st, 2008 @ 2:03pm, said:

That isn't mocking?

No, it was only a musing.