CREguy13

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CREguy13 last won the day on March 22

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  1. These deals are done and this is breaking ground. Will likely be an announcement very soon and I believe Block 42 will rise at the same time.
  2. Block 436 & 437 (Formerly Milhaus Midtown)

    https://www.houstonchronicle.com/business/real-estate/article/Houston-developer-starts-long-awaited-Midtown-13038743.php Per the Chronicle: It looks like the second block will probably be a 21-story high-rise and break ground in late 2019, early 2020. Are we going to have multiple high-rises proposed/constructed in Midtown during this cycle?
  3. The Sophie: 42-unit, 7-story Condo @6017 Memorial

    Crane went up today.
  4. To break ground in 2019, Per HBJ Article this morning: When California-based Spear Street Capital, a commercial real estate investment and development firm, came into the Houston market in 2017, it set off a flurry of office investment activity in the Bayou City. The company has since bought office towers in downtown, Uptown and west Houston, as well as a joint venture with Houston-based Transwestern Development Co. at the site of an old Exxon campus on Buffalo Speedway. The project with Transwestern will be a mixed-use development known as The Ro, which will break ground in 2019, according to marketing materials from Transwestern and Spear Street. Transwestern confirmed the information but declined to comment further. The Ro will be built on 16.88 acres at 3120 Buffalo Speedway, just half a block away from Greenway Plaza and a few blocks away from River Oaks. Tranwestern and Spear Street bought the tract in a partnership in March 2017. Later that month, Spear Street's John Grassi shared more details on the project with the Houston Business Journal. "You can imagine some nice retail users, some nice multifamily users," Grassi said in March 2017. "Even in these tough times, you can imagine a nice office use as well — something a little more creative in appearance and something more boutique-y that would fit with the neighborhood demographics." Grassi also said at the time that the project's development could take a while. Spear Street didn't return requests for comment. The old Exxon campus was comprised of a six-story, 450,000-square-foot, single-tenant office building, a 100,000-square-foot training center, 13 auxiliary buildings and a large parking structure. In January 2017, Spear Street bought the three aforementioned Houston office properties: 5 Houston Center, Energy Center I and 515 Post Oak Boulevard. The 1.2 million-square-foot deal was valued at $272 million, according to a release from seller Atlanta-based Columbia Property Trust Inc. (NYSE: CXP). Spear Street has since begun renovating 5 Houston Center.
  5. McNair Mixed-Use: ~6-acres at 3200 Post Oak Blvd

    Can someone with an HBJ subscription post the rendering? I had trouble copying it. This would be an awesome project From Houston Business Journal this morning: "For its first mixed-use development, Houston-based McNair Interests plans to enter the market with a splash. In 2019, the private investment and management company will break ground on a 1.2 million-square-foot luxury mixed-use development at the intersection of Richmond Avenue and Post Oak Boulevard, McNair Interests' chairman and CEO Cary McNair told the Houston Business Journal. It'll boast all the components of a high-end district: luxury residential units, a roughly 350,000-square-foot Class A office tower, around 30,000 square feet of upscale retail, chef-driven restaurants, green space and a 150-room Rosewood Hotel. "I don’t know that there are very many projects like this around the country," McNair said."We feel like we’ve been a little bit of a rogue investor, and maybe we’re breaking new ground." McNair estimated that the project's cost will be around $500 million. McNair Interests will wholly fund the project through typical real estate finance sources and lenders. "We're having good discussions," McNair said. "Lenders are interested in this project." The project will break ground in 2019 and deliver in 2023. A contractor and any leasing brokerages haven't been selected yet. The development will sit on six currently unoccupied acres between the Best Buy at 5133 Richmond Ave. and the Broadstone Post Oak apartment complex. Chicago-based Skidmore, Owings & Merrill LLP is the architect, and Houston-based Patrinely Group will manage the project. In recent years, the Uptown district has become home to several high-end mixed-use projects, such as BLVD Place, which delivered in 2014 and contains 284,000 square feet of retail, restaurant and Class A office space. That project won the Houston Business Journal’s 2015 Landmark Award in the Mixed-Use Project category. More recently, Tilman Fertitta unveiled his luxury mixed-use development, dubbed The Post Oak. The project is anchored by a $350 million, 38-story hotel, 150,000 square feet of boutique office space, 35,000 square feet of event space and 20 residential units. When asked how his project will compete with the submarket's luxury mixed-use developments, McNair cited a few ongoing projects in Uptown, including the ongoing bus lane project that's been underway for several years. He said it'll be the main stopping point for the transit system; a delivery date on that system is still unclear. And in discussions with the Uptown Management District, McNair said the project has been favorably received. "They’d been hoping something would kick off development at Richmond and Post Oak Boulevard," McNair said. McNair Interests acquired the land from Dubai-based Deyaar Development Corp. back in 2014. It's unclear how much McNair paid for the parcel."
  6. Catalyst: New 28-Story Residential High-Rise for Downtown

    I recently saw that this building is now about 50% leased which is approx. 180 units. Hopefully Marquette is still scheduled to break ground soon on its next project.
  7. This really will be a special project and a ground floor unlike anything existing in Houston currently. Hines is also renovating the ground floor of 717 Texas and their plan is to make it a seamless transition between 717 Texas, Block 58, and Block 42 so they all will complement one another's ground floor experience.
  8. Really neat article in Forbes on this projecet: https://www.forbes.com/sites/cynthialescalleet/2018/05/01/between-an-old-world-hotel-and-new-high-rise-living-in-houston/#2e64dc664c6d
  9. 3300 Main by PM Realty Group: 336-unit high-rise

    That also matches the construction schedule shown above. Can someone grab a picture this week? This is awesome news.
  10. Midtown Sears to Become Houston's Innovation District

    Video of press conference: https://www.houstonpublicmedia.org/articles/news/local/2018/04/12/278818/watch-live-houston-mayor-and-rice-university-president-announce-new-houston-innovation-hub/ Bill Mckeon with TMC talks about how the city is on fire and that a number of things are going to happen this year. I get the sense that TMC3 is delaying its announcement as to not take away from the Midtown Sears announcement, but is coming in the next several weeks.
  11. This will be awesome infill for this area and love the large retail component. It would be great if some nearby retailers relocated to this building, freeing up their freestanding or strip center buildings for more redevelopment. Washington corridor keeps chugging along.
  12. Same here. While it was only preliminary drawings and everything is subject to change if/when this were to break ground, we must remember this is Hines. And if you look at the immediate area with 609 Main, Aris MS, MST and Capitol Tower, these are all of the highest quality in their asset classes and are doing very well. As we've seen time again, the Hines effect is real and we should expect this area to continue to reflect that.
  13. Right so for background, I was able to review Hines Block 58 Marketing book that highlighted all on their new office project (Block 58) in great detail. On a few of the pages where they showed the impact on the skyline from different vantage points, they showed the proposed high rise on Block 42. The proposed high rise was clearly residential and looked to be as tall if not a few floors taller than Market Square Tower, with nearly all glass facing Market Square park. I have no knowledge of the project outside of these renderings - but the impact on the northern portion of our skyline was immense. Hopefully the filing of these plats are a good sign.
  14. When I saw the Block 58 material, they had renderings of the Residential project and it appeared to be as tall if not a couple floors taller than Market Square Tower with a lot of glass. Still subject to change, but this was back in January.
  15. I think the residential component is slated to be 40 - 45 floors. Hopefully they are tearing down the garage and close to a groundbreaking - this is becoming a dense residential neighborhood.