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CREguy13

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Everything posted by CREguy13

  1. So it appears we have our first tenant announcement, but no mention on square footage of the lease... hoping its sizeable. Sino Biological out of Beijing, will be opening its 'Center for Bioprocessing' at Levit Green. Great to finally have a little momentum on this campus. https://www.einnews.com/pr_news/602480783/sino-biological-announces-construction-of-its-new-us-based-center-for-bioprocessing
  2. @Urbannizer this is a perfect explanation from @Houston19514on my comment. I just don't see the new job creation that propelled this crazy development cycle to continue nearly at the rate its been, in the coming years. Local job growth in tech was a primary driver for this boom and the ongoing pullback in the sector may have an impact on financing larger projects like this going forward.
  3. I'll be shocked if this breaks ground this cycle. Putting this in the Bank of Southwest category.
  4. Both concepts are dead, mainly due to the issues you've highlighted I'm told. The good news (from a reliable source) is that both the former Cafe Sophie space and the larger space caddy corner from Brava should have some announcements soon.. I'm not sure on prospects for the former Etta space. I'd hope it wouldn't stay vacant for too long as that corner has a lot of potential for pedestrian activity..
  5. I have no knowledge, but I would put all my money on this being the Buffalo Speedway site. There are many bio-manufacturing companies already in the immediate area along Fannin and Kirby. This is a no-brainer for all parties assuming they can agree to terms.
  6. To be clear I really like Austin and always enjoy that part of TX, so none of my comments reflect a distaste for the city itself. This is solely my opinion and I could be totally wrong, but tech is going to get smacked very hard and its already starting with many companies announcing layoffs, terrible quarterly earnings going forward (Look at what happened to the market after Snap, Inc. reported yesterday 🤨), slowing hiring, cutting capex, etc. + early-stage software/soft-tech capital is seriously contracting and that trend will continue for several verticals. Investors/VCs are tightening their purse strings and will stop pouring tons of money into growth companies that they normally would hope to exit in a few years or ipo, those days (in this cycle) are over in many areas of tech. I think Austin will continue to be a great place to visit and certain people will still want to move there for lifestyle, outdoors, etc. but the job market that propelled it to crazy growth over many years and especially during Covid is about to take a big hit as that's largely been tech-related and industries that are not in growth mode anymore. The city has gotten way too expensive for being located somewhere not on the ocean. Maybe Tech companies will consolidate their bases to Austin more (reducing job losses) and not in Bay area/other tech hubs and that may change a lot of the above. But I believe this growth is unsustainable and they have overbuilt themselves. They've been growing rapidly for a long time and I just don't see why Austin will not be heavily impacted like many other cities in this bad storm approaching. If Google, Facebook, Apple, Indeed, and others start announcing much larger layoffs in the next few quarters and many of them are in Central TX, we will know. All that said, I'm generally biased towards Houston, which I'll always happily admit, and I believe we are entering our golden era and the capital + job growth that will flow here will draw a lot of the national attention to our city over Austin and Dallas (fingers crossed). I view Houston as being the most booming city of this decade for a variety of reasons. Long-winded, but this is a summary of my "cliff comment" and general thinking.
  7. I'm amazed this got off the ground, especially considering (IMHO), Austin's economy is about to fall off a cliff. I'll be very interested to see how this does, but I genuinely could not imagine a worse time to be building a project of this scale in a market that is pretty tapped out and may be headed down in a hurry. We shall see.
  8. Did he mention if Fairfield was one of the 3 starting in the next few months? Great reporting!
  9. Not great picture quality, but was walking by this morning and noticed that the sign was up. Of course would have preferred a retail component, but the ground level really turned out great imo. The sidewalks, lighting at night, the lobby (looks great from street), the signage, etc.
  10. Eater article today on Oche. The IG account for their Oslo location looks pretty sweet. I'm hopeful Midtown's boom as neighborhood is right around the corner... https://houston.eater.com/2022/7/11/23203600/international-norway-darts-hall-oche-houston-midtown-openings
  11. Separate project. This will have a glass facade located along Allen Parkway. Timber construction is still planned for the corner of W Dallas and Buffalo Park, as of now.
  12. Glad to see this is public, a PR should be coming soon. My understanding is the office component (~100k SF) is going on the former proposed 'RH' site across Buffalo Park Drive from Hanover AP. This and the new MF going up will be quite the construction site... The fencing around the central retail pods are coming down and the 'urban chic village' feel is really starting to take shape. Incredibly impressive destination for Houston and can't wait for restaurant/retail tenants to get underway.
  13. My understanding is there is a similar vision of more density for Highland Village, as are being currently planned for at River Oaks Shopping Center. I incorrectly mentioned Kimco as the owner of HV, which is the confusion.
  14. I tend to agree. I think an RH similar to the one they built in Dallas would do really well in Highland Village. Along with the Lululemon destination store, it can really elevate Highland Village... especially with Kimco's vision to build multiple high rises there (assuming that is still the plan post-Weingarten acquisition). Autry Park needs to land another Equinox or even better Equinox hotel flag since it appears the River Oaks District plans for one are dead. Aside from a few on West Gray, there is not a high-end fitness club to service the growing population in this general area. The access to the park and lifestyle this development is hoping to imbue, makes Autry Park an EXCELLENT location for another Equinox-branded project, in my opinion.
  15. I walked by there and spoke with them on Sunday. Sunday evening was friends and family, soft opening is this week, grand opening next week. Correction: Grand opening is this Friday! https://www.chron.com/food/article/georgia-james-chris-shepherd-reopens-houston-17272233.php
  16. For those that were concerned about the sidewalk next to Hanover Parkview along W Dallas, need not be. They did a nice job.
  17. This replat seems very positive... I recall hearing that if Hines leased ~50% of Building 1, that they'd kick off Buildings 2 & 3. I wonder if we'll see a major tenant announcement in the next several weeks... Fingers crossed!
  18. My guess is it's just similar fencing they've placed on their other owned lots for branding the district. This site is slated for a much later phase with other blocks planned to be developed much sooner ie the lot across the outdoor plaza and the existing tenant parking lot.
  19. I was at a breakfast last week where Crane was the keynote. He briefly mentioned their plans and stated a hotel, a lot of entertainment/retail, and possibly high-rise apartments were a part of the plan. I'm excited about the fact he owns several other lots all around the ball park for future phases. This will be a very active part of downtown in the next couple years. Hopefully they release the official plans soon.
  20. Oh I'd feel pretty good about this. I have no knowledge of the development, but it is Hines and they're kicking this off at beginning of a multi-year development cycle with a lead tenant for the first building. Guarantee they secure a great hotel flag, especially now with the Thompson a few blocks away.
  21. These might be my favorite in-fill projects. We need more Reveres, Westmores, Giorgettis, and Lexingtons throughout River Oaks, Upper Kirby, Greenway, etc. Hats off to Pelican for leading this charge.
  22. Fortunately, this will not be the case for site. Skanska is going to build something amazing here, but with that, comes proper master planning and understanding the best overall use/market size for what will be a transformative project for Montrose. Then factor in the Kroger site next door and its a lot to consider, all while engaging numerous community stakeholders.
  23. wow wow wow. This along with AH will be a huge change for the area. The density continues...
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