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CREguy13

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  1. CREguy13
    There was not a date mentioned. There was a motion on the floor and it was passed unanimously. In the middle of the motion, one of the regents made a comment for the record of their deepest appreciation to Marc Watts for working with the regents and helping this project come to fruition. Marc is currently the chair of the Greater Houston Partnership, so clearly a lot of people were active in making this happen.
  2. CREguy13
    Unless I missed something (tuned in at the very end of webcast) all of the items that were needing to be further addressed from the November 2017 meeting were approved, all of the regents were in favor, and the project is moving forward. Can someone else confirm if I missed anything? Otherwise, we'll likely see an article soon. Outstanding news.
  3. CREguy13
    The below two quotes + article from today say otherwise: "Less than a year after opening, Market Square Tower, Houston's tallest residential high-rise, is now over 90% leased." "Despite many in Houston tightening their budgets, especially in the wake of Hurricane Harvey, interest in the property, where rent starts at $2,200/month, has been robust." https://www.bisnow.com/houston/news/multifamily/market-square-hits-90-occupancy-amid-down-market-86022
  4. CREguy13
    I respect your opinion and energy against this project, but Apache renewing their lease and deciding to not commit to a 300m+ project, does not prove your point. The wider sidewalks and trees will encourage developers to incorporate GFR or more of a 'Street Presence' in their projects that front Post Oak Boulevard. I've certainly utilized it a lot more to walk to BLVD Place or Uptown Park for lunch, now that these sections of sidewalks are opening up. As a current office employee and former resident of the area, it definitely has my approval.
  5. CREguy13
    The new sidewalks and trees being installed are really looking great and some of the more completed sections are getting more use. I walked to Uptown Park for lunch the other day and sidewalks are so much wider and makes me want to walk more if heading down Post Oak. Summer will be a different story, but I'm interested to see how this works when the trees provide a lot more shade.
  6. CREguy13
    My thought would be they are going to tear down the existing buildings, but keep the Midtown Sears building. I think MS will be the center of this development and they will bring it back to its original structure, bring it up to building code for an office building. I think it will serve as a large start up incubator, be the new home for Houston Exponential and others - it is approximately 200k SF. They will likely want to start this process as quickly as possible and are in current discussions with Station Houston to try to get them to relocate to this building. Have this first phase be the catalyst and then Rice Endowment, along with city/private officials, can carefully formulate a plan for the next phases of development. Again, this is just my opinion butI imagine there will be more updates in the coming months.
  7. CREguy13
    Agreed, it would be a great addition. I'm still not convinced that another W Hotel won't be built in Galleria, River Oaks District, or Upper Kirby at some point.
  8. CREguy13
    Drove by here over lunch and Crane is going up today.
  9. CREguy13
    Honestly, I think this will turn out as advertised and be a very well done project. The location is too good being adjacent to Discovery Green and within walking distance to ADLA, Minute Maid and Toyota Center. Another great thing that was not always the case, is downtown now has several high-end multi-family options that all have great amenities, service, and quality apartment finishes. This project will have to be up to or exceed that standard of quality. If not, then future downtown residents will live at the Star, Catalyst, OPP, MST, Aris, or any other future high-rise apartment buildings. If they produce an average or below average product and are a long-term holder it will negatively affect their rental income and cashflow and if they are a seller, it will be reflected in the Sales Price. This should be a good one, no doubt.
  10. CREguy13
    so the entire building is coming up for lease..?
  11. CREguy13
    New five-story, 375-unit mid-rise apartment near southwest corner of Summer and Studemont set to start construction next week and expected delivery in 2019. Alliance closed on the land in November 2017 - honestly had no idea this was even proposed, but a great addition to this area. https://www.bizjournals.com/houston/news/2018/02/02/exclusive-new-residential-mid-rise-to-break-ground.html
  12. CREguy13
    As a follow up, from today's HBJ: https://www.bizjournals.com/houston/news/2018/01/31/exclusive-new-owner-shares-first-details-on.html A few highlights: Brookfield's vision for Houston Center, the 4.2 million-square-foot office and retail complex it acquired in late 2017, is a revitalized mixed-use development with street-level retail, outdoor event spaces and white tablecloth restaurants. Hernandez said that until renovation plans are finalized, the team's been executing short-term renewals for the property's retail tenants. He said most of the property's retail tenants are small; the largest retail tenant is Kelsey-Seybold, which occupies 23,000 square feet. "You have people who are extremely loyal, and who have been here a long time," Wilson said. "There were several renewals done prior to the sale with people who, even without the renovation … understand something really good is coming."
  13. CREguy13
    Mat Pour going on right now.
  14. CREguy13
    Good catch. Definitely misstated this!
  15. CREguy13
    I think you nailed it on the head that the city needs to stop talking about it when they have little control outside of incentive programs. The market will dictate and 'Retail follows footsteps' will always ring true. Prior to this cycle retailers had little reason to look at downtown for any different use than daytime office workers. This project, Camden Conte, tellling investors that they will break ground Q4 2017, rather than 2020, because of market dynamics is a good sign. If Trammell Crow and Marquette also break ground this year, as they've stated, that will be a good sign. Unfortunately, it is a waiting game, but the market for retail will be there.
  16. CREguy13
    I disagree, respectfully. Everything is moving in the right direction and downtown's future is very promising. Most of these new apartment projects have leased up quite well. All of the new hotels being built. The Astros and Rockets continue to have success, so the neighborhoods around them will continue to grow (I'm most excited with the potential around MMP). The wider sidewalks and infrastructure are now there along Dallas and Main which is important. Brookfield acquiring all of Houston Center is a good sign as they will activate the street level with retail/greenspace. The new south downtown park will catalyze the remaining blocks around it. There is a lot going for downtown and I honestly believe we are just scratching the surface for demand to live downtown. The great thing is a lot of the major Multifamily players got in on this first building cycle (TC, TC Residential, Hines, Finger, Camden, Marquette). As they all achieve high occupancy and have actual market data to analyze, I think many will look at second sites and new players will enter. I understand the retail/thriving downtown isn't here yet, but it is coming.
  17. CREguy13
    With the work schedule ending October 2022, I assume they're planning to have all 3 towers built by then, so we can expect activity in this area of Midtown for the next 4.5 years?
  18. CREguy13
    Crazy to think parking can work on a site this small, but this project will be awesome.
  19. CREguy13
    Not at all, I was just curious of the source. This would be awesome to rise at the same time as Caydon.
  20. CREguy13
    source?
  21. CREguy13
    Personally, I think this will do extremely well. There isn't a venue like this downtown (that I know of), and it will pull residents from South downtown and Eado, along with the expected business travelers/concertgoers. While this may not be the ideal use of downtown land in the long term, I think it will be great in the near term - especially considering the success that the Astros and Rockets are currently having.
  22. CREguy13
    I'm guessing it will be announced when a certain large bank nears its lease expiration at a closeby building, where it has its current namesake, and such namesake will be transferred to Capitol Tower.
  23. CREguy13
    Not that I don't wish we would build another supertall, but major players are not only focused on building height, but quality, sustainability and return for investors. Especially not Skanska and Hines. We should not criticize these developers that continue to provide our city with A+ assets, even though they are not 1000+ feet tall. Capitol Tower and 609 Main were great additions to our skyline.
  24. CREguy13
    Agreed! With all of the conditions I had to go through it again as well, so you were not alone..
  25. CREguy13
    The TMC3 motion had unanimous approval for UT Health and MD Anderson to move forward on the Project.
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