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CREguy13

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Everything posted by CREguy13

  1. 1000%. Too many downtown corporations, local foundations, and uber-wealthy Houstonians that will be interested in naming rights and want to play a significant role in a transformational project for the city.
  2. That's my point. These have always been private projects and I think they can raise the funds relatively quickly. Never let dollars that want to find a home remain on the sidelines..
  3. Your second point is the right take imo. There's a really strong push on the elevated park, which would make everything within a few blocks of Pierce much more valuable immediately if plans become public. I'm certainly in the camp of retaining the structure. The opportunities to integrate buildings at the park level whether it be office, MF, Condo, or hotel would be a game changer - in addition to activating the ground level below. Central Houston badly wants this to happen. Given the tremendous amount of wealth being made in this city right now (and no other big projects on the docket) they should be able to get private individual/corporate dollars secured for both this and the Eado Capped park... or at least that's the hope. Fingers crossed!
  4. I really hope this developer has the expertise, able to source the necessary capital, and receives a substantial credit from CHI to produce a very quality MF conversion. This building has a lottt of issues, but the opportunity is so huge for this area if they do it right. If Chevron moves their HQ and starts construction on a new building, along with this, that'd put a lot of eyes on an area RIPE for major development. If KBR were to move out of 601 Jefferson and that was also converted? Goosebumps
  5. Totally agree. The Preston has a nice ring to it.
  6. This site is 100% For Sale, listed by Cushman & Wakefield.
  7. This W Dallas/Allen Parkway corridor is really going to be something. It's getting hard to keep up with all new restaurants opening...
  8. This is excellent news. Hopefully this gets the ball rolling for more private companies to start signing leases..
  9. As a reminder, Alexandria is investing in a significant way just south of TMC along Fannin. Totally agree on ARE's prowess as a life science developer.. They are clearly betting on Houston, which is awesome!
  10. Looks like this is about to start. Wasn't able to get a picture here, but there was a sign up (that I had not seen before) stating they were 35% presold and breaking ground in January 2023. Checked their website after posting and it reflects both the 35% pre-sales figure and the January groundbreaking.
  11. Wasn't able to take a photo, but the MF has started construction! Several workers on site and they were pretty far along digging the foundation. Such an exciting project and will stand out in a big way.
  12. Happy to finally see this getting closer to opening. It's been frustrating walking by seeing little-to-no activity occurring inside. Great news!
  13. I'm so excited to watch this area grow over the coming years. Fairfield and Hanover breaking ground in the next few months, then Regent Square's next MF hopefully not far behind coupled with the other projects currently going through the design phase... Lots of great new restaurants opening in ROSC too, this pocket has so much potential. Just need stakeholders to make streetscape, sidewalks, walkability, etc. a top priority.
  14. 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
  15. @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.
  16. I'll be shocked if this breaks ground this cycle. Putting this in the Bank of Southwest category.
  17. 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..
  18. 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.
  19. 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.
  20. 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.
  21. Did he mention if Fairfield was one of the 3 starting in the next few months? Great reporting!
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