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downtownian

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Everything posted by downtownian

  1. They have already lease 367,000 square feet to Hines (moving their HQ here) and V&E. The total building is 1,000,000 square feet so that's pretty good.
  2. If you believe that a restaurant and food should reflect the local aesthetic and have a sense of place, then it should originate from where it is located. If restaurants can just cut and paste the format, design and food and place their business anywhere, it's just generic and sort of bland.
  3. Agree. There’s a number of austin and Dallas concepts that invade Houston. I’m not aware of many that do the reverse.
  4. Anyone have average rent, current occupancy, number of units currently and number of units under construction?
  5. 100% wishful thinking but love to see a Pearl-style redevelopment similar to what San Antonio did with the old Pearl Brewery and Hotel Emma.
  6. I think it's part of a lot of supply coming online but the overall occupancy and rates seem to be strong. The below is a link to Transwestern's 2017 YE residential report. Some highlights: As of YE 2017, there were 23 apartment buildings in Downtown with 5,951 units Occupancy was 67.1% which is on the low side but think it is due to how many recent openings there have been. Downtown absorbed 1,086 units in 2017 Compare this to YE 2016: 4,819 units open, occupancy of 58.4% This means that 1,132 new units opened in 2017 but occupancy increased by 8.7% Average effective rent is $1,978 and rent / square foot is $2.05. This is 12% higher than Midtown/Montrose/Museum. I think it is a good indicator that rents are higher Downtown than anywhere else in the city https://assets.recenter.tamu.edu/Documents/MktResearch/Houston-Multifamily-TranswesternOutlook.pdf
  7. The video mentions that there will be co-working (1:35) and a food hall (1:38). I feel like downtown is already saturated with these things. We already have 4 food halls open / in planning stages and there is a 10 story WeWork coming to 708 Main...
  8. This building would be perfect for an Ace Hotel or a non-chain, independent boutique like the Wythe in Brooklyn.
  9. Agree with newer cotton exchange building. The building next to the JW is awkward... those long, horizontal windows don't seem very well suited for modern tastes .
  10. It was originally supposed to be residential but then got switched to a hotel in May 2017 (see link below). I really wish it was still going to be residential but I'll take it. http://www.hotel-online.com/press_releases/release/brief-report-historic-downtown-tower-could-become-luxury-hotel-by-2019
  11. My favorite downtown coffee shop design is Prelude. They also have the best coffee
  12. Just broker speculation but thought I would share: Grocery stores will soon have little choice but to breach the downtown market, which has a large-enough mass of residents to support a grocery store, Gaines said. He's skeptical of Randall's, Kroger or Walmart taking the risk of building an urban, multistory grocery store in downtown Houston. "I think H-E-B definitely will," Gaines said. "Whole Foods will." https://www.bizjournals.com/houston/news/2017/11/01/broker-downtown-houston-has-enough-residents-to.html
  13. I'm glad that 1111 rusk got done. If an ugly parking garage for a portion of the block is the price, so be it.
  14. Why? They're still available on swamplot. If they're public, they're public. http://swamplot.com/rem-koolhaas-and-omas-big-plans-to-remake-houstons-central-post-office-into-a-major-downtown-farming-shopping-eating-and-3-d-printing-hub/2017-10-04/
  15. Why? They're still available on swamplot. If they're public, they're public. http://swamplot.com/rem-koolhaas-and-omas-big-plans-to-remake-houstons-central-post-office-into-a-major-downtown-farming-shopping-eating-and-3-d-printing-hub/2017-10-04/
  16. Went on Monday. It's like a more casual oxheart (not tasting menu style) but with the same incredible attention to detail. Menu is a little bit more approachable and it's less veggie-centric. It cost about half as much as Oxheart as well.
  17. Yes, for the pool. I walked over, had brunch at Xochi and then went to the pool. It would have been worth it if not for the kids.
  18. I've done two staycations at the Marquis and both times there were tons of kids on the pool deck so I haven't gone back.
  19. There was a plan (and it was implemented pretty successfully) developed 13 years ago called the "Houston Downtown Development Framework." It called for increased public space and additional residents and aided in the development of Discovery Green and the Downtown Living Initiative (subsidies for 5,000 apartment units). I'm hopeful that this plan will call for and achieve additional parks and public spaces and integrate some of the various patches of downtown. Also hopeful it will have the city partner with private developers to develop a grocery store and more residential.
  20. "KHOU 11 met with the owners on Tuesday. They didn’t want to go on camera, but did say they have nearly completed an $85 million dollar hotel renovation plan. However, they said they are still trying to get financing." http://www.khou.com/news/future-remains-uncertain-for-dangerous-downtown-building/456267629
  21. I'll share my downtown story as well. Moved downtown 4 and a half years ago and nothing but the old standards existed: Warren's, La Carafe, Flying Saucer, Hearsay, etc. They are all great establishments with a lot of history and character but the scene was sleepy and revolved around the local regulars. Fast forward to today: a complete explosion of literally everything downtown. I can't keep track of the number of bar and restaurant openings, the new hotels and office buildings are beautiful, friends are moving downtown into the Skyhouses. Downtown along Main Street on a Friday or Saturday night is like a mini-6th street. I can drink quality coffee from Honeymoon or Local Foods. Innovative projects like the underground food hall Conservatory choose downtown as home. The projects and growth aren't even wrapped up yet. Downtown has just completely blown away all of my expectations when I first moved here. I am very grateful for the Downtown Living Initiative, the OKRA Charity bar which was one of the first in the new wave of downtown bars and the Superbowl...
  22. Went I went on the 609 Main tour, they indicated it would be a restaurant space by the owners of B&B Butchers.
  23. The Star is officially open. First tenants moved in last month. "Units are between about 730 to 1,730 square feet. There are 207 one-bedroom, one-bath units and 79 two-bedroom, two-bath units. The building's first tenants moved in late last month." http://www.bizjournals.com/houston/news/2017/02/14/photos-luxury-downtown-apartment-debuts-in-former.html
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