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It looks like there is a net gain in residential units (when you consider the new Davis Proj. + SkyHouse River Oaks) when compared to the old apartments on that same land. This is a net improvement for the area. Westcreek Ln is really a residential street, it has been for over 35 years now.

River Oaks District was a net reduction in residential units. It looks like these other developments should make up for that loss, with a fair margin. Hopefully, maybe, one of the TBA projects will consider some upper-middle income units instead of going all out total luxury. So many middle of the road units are going/will be going away without replacement - eventually, the market will bear the consequences.

I noticed that as well that there's a net gain housing units with all these projects vs the old apartments.

But it had me thinking about the household size in the old apartments vs these new residentials being built. I would imagine that the household size would be >2 (mirroring areas of DT) vs the old apartments where people probably had kids.

Any ideas?

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does Randy have his own architect or does he outsource architects? personally im excited to see what he comes up with and wish he would build a condo tower in downtown. i guess its just a select few of us on here that like his work.

Look - Randall has good ideas, and a dream. Just not great execution. He has added a lot of residential buildings. My issue is not one of his buildings (Not even ONE) has been well thought out in how it relates to the buildings around it. Many times he forgets that they are tall, and can be seen on four sides. Just spend a bit more and make it right. In the scope of his projects a 2-3% added cost for architecual details (real ones) would make a big difference. He would be great in Vegas or maybe even Beaumont. We deserve better.

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Something tells me the Cosmopolitan downtown won't resemble the corpus design. Corpus is a beach town. Maybe if they were building it in Galveston, but downtown? But I like your enthusiasm for some RD downtown. Downtown could use a few more permanent residences..

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To me, it does seem that RD has done some kitchy stuff, but nevertheless I have enjoyed (and continue to enjoy) some of it.  

 

I have never followed the topic of which architects he uses, but that would be interesting to know.  That said, I do know of one firm that was involved with him, once.  I think it was a painful experience for both parties.

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Whenever I see a Randall Davis project: I'm reminded of that "famous" quote from The Dark Knight about the "hero Gotham deserves...but not the one we need right now"

 

I don't know why, but I just feel like it is appropriate for him?  Except he's sort of the inverse.  If that makes sense?

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Wait, so that would imply this is another one of those shady schemes to effectively sell rich foreigners US citizenship?

What is shady about economic citizenship?

just as long as we are not actively seeking unsavory types I don't necessarily deem the program to be shady.

There are some that are wealthy but feel oppressed in their native country

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What is shady about economic citizenship?

just as long as we are not actively seeking unsavory types I don't necessarily deem the program to be shady.

There are some that are wealthy but feel oppressed in their native country

 

 

And there are many more 1000's of people who are not wealthy, and subject to much worse oppression.

 

If these "EB5" guys were actually coming over here to make legitimate investments in businesses other than that of the condo tower where they plan to live - then maybe I could see the benefit. 

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And there are many more 1000's of people who are not wealthy, and subject to much worse oppression.

 

If these "EB5" guys were actually coming over here to make legitimate investments in businesses other than that of the condo tower where they plan to live - then maybe I could see the benefit. 

 

That reflects a misunderstanding of the EB-5 visa program.  The EB-5 guys don't and can't get visas just by buying themselves a condo.  That's not the way the program works.

 

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And there are many more 1000's of people who are not wealthy, and subject to much worse oppression.

 

If these "EB5" guys were actually coming over here to make legitimate investments in businesses other than that of the condo tower where they plan to live - then maybe I could see the benefit. 

 

so in other words you have no idea what the EB5 program entails. got it.

 

and stop with the pity party.

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That reflects a misunderstanding of the EB-5 visa program.  The EB-5 guys don't and can't get visas just by buying themselves a condo.  That's not the way the program works.

 

 

so in other words you have no idea what the EB5 program entails. got it.

 

and stop with the pity party.

 

 

Then why are these condos being marketed this way - using the term "EB-5", if they do not fit somehow into the scheme?

 

It seems to me that the EB-5 investors could live anywhere they please as long as they met the primary requirements of the program:

 

An investor seeking an EB-5 immigrant visa through a designated Regional Center must generally make a qualifying investment of $1,000,000 USD... Additionally, the foreign investor must demonstrate that the investment created at least 10 U.S. jobs through direct, indirect, and induced effects.

 

I am not sure how my previous remarks constitute a "pity party", but I do admit to misunderstanding the program.

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It seems to me that the EB-5 investors could live anywhere they please as long as they met the primary requirements of the program:

 

An investor seeking an EB-5 immigrant visa through a designated Regional Center must generally make a qualifying investment of $1,000,000 USD... Additionally, the foreign investor must demonstrate that the investment created at least 10 U.S. jobs through direct, indirect, and induced effects.

 

 

Of course you know that no one suggested an EB-5 investor cannot live anywhere they please.  Of course they can.  And as you also know, that is not the point at all.  Of course An EB-5 investor can buy a condo for himself in the West Creek project or in Astoria, or he is free to rent an apartment in the Block 384 project downtown, all of which are being financed, in part, with EB-5 investments.  But neither buying a condo in either of the first two projects or renting an apartment in the third will qualify the person for an EB-5 visa, even if they spend more than $500K or $1 Million on the same.  Neither buying a condo nor renting an apartment is a "qualifying investment".

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What is this marketing of which you speak?

 

 

http://www.houstoneb5.com/project_Westcreek.cfm

 

The title and logo of the page say "Houston EB5". The content is basically "Westcreek". The group's past project is a downtown multifamily building. Therefore, it is a stretch to assume that the "Westcreek" project is also some type of multifamily building.

 

It's not exactly "marketing" - perhaps that is the wrong term. But that site, along with other sites and articles I have read, seem to demonstrate some type of relationship between "EB-5" and condo towers.

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http://www.houstoneb5.com/project_Westcreek.cfm

 

The title and logo of the page say "Houston EB5". The content is basically "Westcreek". The group's past project is a downtown multifamily building. Therefore, it is a stretch to assume that the "Westcreek" project is also some type of multifamily building.

 

It's not exactly "marketing" - perhaps that is the wrong term. But that site, along with other sites and articles I have read, seem to demonstrate some type of relationship between "EB-5" and condo towers.

 

Yeah, that's pretty much what I expected...

 

The content is "basically 'Westcreek'" because your link is to the Westcreek page of the Houston EB5 website.

 

The site is marketing investments in development projects.  It is not marketing condos (or apartments). 

 

Give it up, dude.  Your understanding of the EB-5 program is just wrong.

 

(I'm not sure what you are trying to say with your last sentence.   No one has suggested there is no "relationship" between EB-5 and condo towers and of course you know that.  Of course there is a "relationship".   It's just not the relationship you assumed.  Foreign investors cannot qualify for an EB-5 visa by purchasing a condo.

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