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CREguy13

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  1. CREguy13
    I recently moved to the Heights and agree with your enthusiasm on how great this is turning out. No doubt these sidewalks and bike lanes will be flooded with people that will feel safe and enjoy walking to businesses and restaurants along Shepherd. While still early, 11th Street has been a major success in this regard and is much smaller in scale. Didn't realize that about all the streets between Shepherd and Durham having large sidewalks, but that's fantastic news. An incredible catalyst and blueprint for the continued transformation of Houston.
  2. CREguy13
    Hines is developing the project on behalf of their client, SCI. SCI Capital Holdings, Inc. is the specific entity that owns this land.
  3. CREguy13
    It's a good question. Metro may not have thought that far ahead, or talked to local real estate relationships and were advised against including it in the RFP, or something else entirely... Personally, I'm not sure the immediate area is currently attractive enough and lacks required metrics to warrant the investment. That could change a few years from now.
  4. CREguy13
    I think it's safe to assume both will follow in time. This can't get built quick enough, the amount of workers that don't have a parking spot downtown that may opt for this option will be interesting to follow. Should really increase weekly ridership immediately.
  5. CREguy13
    Yes it does, as @LosFeliz notes. The views of Memorial Park, River Oaks, BBP, Uptown, Downtown will be something from those balconies 🤩
  6. CREguy13
    so moved.
  7. CREguy13
    Marriott Development's Linkedin page posted this render yesterday on the new St. Regis Residences in Houston and linking the Realty News Report article. Can't confirm if this is a 'placeholder' render of an existing St. Regis property or if this is Pickard's design for Houston. That appears to be the Buffalo Bayou bank so I'm guessing this is it. Reminds me a bit of Museum Tower in Dallas, and definitely looks like it belongs in Miami. While I'd prefer more elegance in River Oaks area, I do like this. Especially if this leads to a higher standard of architecture along Buffalo Bayou in the coming years.
  8. CREguy13
    Nah this is moving forward soon.
  9. CREguy13
    Kokoro is great, I used to go to the Bravery location frequently and they are great operators. Good sushi should do well with all of the tenants and visitors to the ION district. Glad that they still show the next phase kicking off in 2024 in these recent leasing materials. Securing a great innovative 'corporate tenant' across the plaza to kick off the office and getting the MF on Fannin financed would really set this area in motion. Hopefully we get an update on the schedule for Phase II when they publicly announce Kokoro is joining the district.
  10. CREguy13
    Definitely not an architectural marvel, but at least the garage is tucked back and not fronting Allen Parkway. In the grand scheme, I care less about a bland office building, and more that it's continued investment along AP, and officially kicks off the first phase of a multi-building development. If Hines is partner in the entire project, I'm more interested in the other mixed-use components and how they plan to integrate the project with the streetscape/Buffalo Bayou Park. If those future buildings have flare and scale, being Hines first investment in this corridor, SCI's building will be of little to no concern imho. As a separate note, this is the first new construction for office on Allen Parkway. Would love if this catalyzed tenant demand, thereby more interest from office developers when the market cool down.
  11. CREguy13
    This ^^^ It makes me wonder how many are kicking tires to enter Houston.. Is Waldorf Astoria Residences snooping around? Our high-end condo market seems to be gaining serious momentum. If Pre-Sales do well and construction starts here, the Ritz Carlton Residences, and the Birdsall (Auberge Collections @ The RO) it'll be really interesting to watch the aftermath effects. Houston changing in front of our eyes.
  12. CREguy13
    Nothing bad is happening. Phase I has delivered, MDA and UTH are now under construction on their buildings. We shall see when the remaining institutions start building, and the other "industry" buildings by Beacon Capital will obviously be driven by demand which there's barely any new Office buildings getting capitalized around the country right now. I expect the hotel mixed-use will get legs when rates and prices come down. Dallas has nothing that comes close to the scale and magnitude of a project like this from a life science front.
  13. CREguy13
    Just an observation, but I find it interesting the new garage planned on West side of ADLA shows a skybridge to the large parking lot that butts up against the Marriot Marquis... I forgot who owns that lot, but would be really neat if Crane had his eyes on that huge parking lot for future expansions. Hopefully Hines is consulting a masterplan beyond just this initial 2-acre phase. Bummer construction isn't expected until after next season at the earliest, but hoping final renderings get released somewhat soon now that more detailed plans are public.
  14. CREguy13
    Ha sure. *IF the HQ is moved here, I'm betting they will opt for new construction opposed to leasing nearby space on a long-term basis. Short-term leases are irrelevant, as there may be an immediate desire to consolidate employees in same area, time to plan long term strategy, and/or being patient for the building market to become more favorable. We may all be a bit longer in the tooth by this time, but my friendly wager is new construction will commence prior to mid-2026, I believe that is roughly when the current Hess lease is set to expire.
  15. CREguy13
    Respectfully, this is the wrong take. One of the largest and most profitable companies in the US is not concerned about contributing to a downtown's vacancy. Attraction and Retention of talent is #1 and a state-of-the-art corporate campus helps with recruiting top talent. This is the crux of my argument for new construction.
  16. CREguy13
    Nothing new to report, but figured it was appropriate to bump this thread on the heels of Chevron's announcement to acquire Hess. To me this all but assures the combined "Mega Major" will be headquartered in Houston given the longgggg list of reasons for such an obvious, strategic move. Which begs the question: Do we see a new design of 1600 Louisiana or a new tower on one of Chevron's other downtown sites? I'm pretty sure the lease in Hess Tower expires in 2026... they'll certainly consolidate all employees to one campus. So unless their recent Bridgeland land grab in Cypress changes to a corporate campus, I think we can safely assume the combined workforce will be downtown and new construction is likely 😎
  17. CREguy13
    Chevron buying Hess all but solidifies the inevitable HQ move to Houston iyam. Houston is Hess's largest employee base, not New York, and aside from all the clear advantages to bringing the combined company here, it really makes zero sense for a new "Mega Major" energy company to be headquartered in New York or California.
  18. CREguy13
    Haha indeed! Although, they're not even worthy of comparison. The DOE hub is many many billion dollars of direct private capital that WILL be invested into the region, jobs, etc. then all the indirect jobs, impacts of this can't quite yet be quantified. This is really big deal and nothing short of an absolute game changer for Houston.
  19. CREguy13
    I'd say there's a 0% chance they keep all 3 and a close to 0% chance they keep any of them. Unfortunately, these buildings have underperformed for many years on the office front (just lost Apache for a considerable portion of the complex) and I don't see a bunch of capital injected into them to remain an office asset. Then how much $$ do you put into a conversion to MF or hotel and how would they expect those to compete with all the new MF and hotels in the area? I've always admired Phillip Johnson and his work, but my gut is Post Oak Central's days are numbered I'm guessing the only reason they put this deal together was for a total demolition of all or nearly all existing structures. However, you could see some short term leasing activity in the near term to generate some additional income before the future plans move forward. Just my take.
  20. CREguy13
    If Autry Park could land a large lead tenant or build-to-suit tenant that would really stabilize and accelerate this area even more. The restaurant/retail and MF demand is palpable, and should really become highly attractive for companies and their employees that want this parkside, walkable, dense dining environment. The issue of course is new construction will likely require the highest rents in Houston to pencil and may have to be all or nearly all equity on Hanover's side.. but there has to be a few companies or firms that are in or soon to be in the market that may be up to it..
  21. CREguy13
    Parkway has acquired Post Oak Central and CityWestPlace in an all cash deal (wonder which billionaire 👀👀) and Midway will oversee the Redevelopments. This is an amazing transaction and I'd heard there was big money behind it because of the opportunity with POC. Truly, anything less than several towers with incredible retail/walkability offerings would be a major disappointment. This is the size of River Oaks District right on Post Oak Blvd. Cheers to potentially the next mega development in Houston 🍾🥂 “Post Oak Central and CityWestPlace are both significant Houston assets that continue to perform, though Post Oak Central has been underappreciated in the market for some time,” said Brad Freels, Chairman and CEO of Midway and Co-Executive Chairman of Parkway, together with Jim Heistand. Regarding Post Oak Central, Freels said, “We see incredible potential in the iconic property. This deal activates and accelerates our plans, and we look forward to reimagining Post Oak Central for the next generation.” https://www.midway.team/blog-posts/parkway-closes-on-two-significant-houston-office-assets-in-one-of-the-largest-u-s-real-estate-transactions-year-to-date
  22. CREguy13
    Yeah, after reflecting on this more and reading into what the Dallas hub may actually end up being and it not being remotely what DC/Cambridge are landing, I am happily eating my words. All the recent groundbreakings at Baylor, MD Anderson, UT Health, and the announcements like Portal Innovations and more players continuing to come to town because of the opportunity they see to invest in companies here are much more important than a customer experience hub. Our tailwinds in Life Sciences, Medical Device, etc. exceed the other Texas cities. Two things I'm very excited about: 1) Historically the energy riches made in boom cycles flow into our hospitals/TMC and that is clearly happening now with the future looking real bright in Energy. Houston thinks big on these types of projects, and we're the best in the world at large scale project management. Is TMC Bioport the next big project the donor community fundraises around/gets behind as Helix Park blossoms on its own and begins to mature? Does a new visionary idea come out of nowhere and we seize that? 2) Very recently I've heard from different people in or connected to the Boston life science ecosystem that there is a consistent and growing buzz about Houston in their circles. Optically, the ARPA-H would have been great recognition and it will certainly benefit Dallas in certain areas in the medical/life science world that may not yet be known. But my money will always be on Houston.
  23. CREguy13
    LOVE these shots @cityliving. It's going to be great watching this Allen Parkway corridor develop over the coming years. The West looking East along the Bayou vantage from your first photo could become a key shot of the Houston skyline in the future!
  24. CREguy13
    Total shock. Sick to my stomach that our leaders couldn't get this done. I really don't understand how Dallas makes more sense than Houston given all of our strengths and advantages in this area. Total failure of leadership from the TMC, city, etc. "Houston originally submitted an independent application but later joined the Dallas-led coalition, said Matt Crommett, who helped lead the statewide effort."
  25. CREguy13
    If Texas wins the 2nd Hub, I'll be SHOCKED if it's Dallas and not Houston. Hub No. 2 is focused on enhancing clinical trials for diverse patient populations. I'm pretty sure TMC performs more clinical trials than anywhere in the world and we're the most diverse city in the United States. I have to assume that all the hospital presidents, major TMC stakeholders, and our represented officials at every level of government are pushing hard because of the opportunity and how perfect a fit Houston is. I don't think Dallas can win this one
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