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Skyboxdweller

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  1. Thanks for the information. There is an opportunity to bracket the pocket park that occupies the site of the former fortune teller with a use that benefits from the green space, like an outdoor dining terrace
  2. Does anyone know who owns the building site identified for a future residential tower on San Felipe? If it ever gets designed it would be great to have a multi-use building with more retail/service businesses on the ground level of Post Oak Lane, especially if IW and 3 get built out in the manner of the Whole Foods complex, and a floor or two of office space.
  3. https://www.marketwatch.com/story/apaches-stock-rockets-toward-biggest-gain-in-nearly-50-years-after-company-strikes-oil-2020-01-07 Maybe the vacant lot between La Table and Verizon gets a hq building after all. Apache has a 50% profits interest after cost recovery in a new offshore oilfield discovered off the coast of Suriname, in South America. It's adjacent to a field in Guyana that will be yielding almost barrel of oil a day for each person in that country by mid-decade.
  4. Hanover would be the logical buyer from a defensive standpoint. They may have too much Houston on their plate for the next couple of years, with the Buffalo Bayou project, etc.
  5. The tower rises, shaped like a porpoise heading to the Galleria. Concrete being poured for floor 8 today
  6. Pouring the top of the garage . Planters outlined in rebar on the deck adjacent to the Cosmo. Pool getting walls on the right San Felipe corner. Tower floor framed on the right.
  7. Everything in moderation, agreed. When I look at subsidies for any project meant to serve private interests I wonder why the project couldn't make it on its own. This project is located amid a strip of industrial and light industrial buildings, including a waste transfer station. wedged along Beltway 8. It's probably less than two miles east of see-through high rise office buildings that have no tenants. The developers claim that they are constructing a walkable environment. This is pure hype. It's a parcel surrounded by industrial buildings, far from greenspace and far from shopping and anything of interest to walk to. I walk three to four miles a day in Uptown/Galleria. I have restaurants,supermarkets, clothing stores, and parks along my route. There is a McDonalds on the other side for I-10 that is in walking distance from the Cannon, and not much else. It's clear that this project can't make it on its own without subsidy, that in a city with a large office vacancy situation more office space is not a burning public need and with subdivisions built inside of reservoirs a mile or two west of this development the public would be better served with subsidies directed elsewhere. Re 2008, which is someone what off subject, how many investment bankers, rating agency personnel, portfolio managers and others who packaged,peddled and profited from subprime mortgage debt were brought up on criminal fraud charges? Zero. They are still living in Greenwich, CT. and Bel Air, CA on the proceeds of their ill gotten gain.
  8. It's a future subsidy that substitutes for equity. In order to give the debt capital the required internal rate of return, if the future cash flow was burdened by a normal tax rate it would limitthe amount of debt that the project could bear. The sponsor could have put more equity in order to deliver the required financial ratios ( cash flow to leverage). But instead, you and me are providing a subsidy in lieu of sponsor equity. What do we get out of it? A suburban Disney-land office park that will look and feel dated before the grout on the brick veneer sets. This is what drives me mad about "free enterprise" and "entrepreneurship:" in America. We have socialized risk and privatized gain....See financial crisis 2008 for reference.
  9. The Chronicle statement that the Founder's District is funded by Mark Toon is inaccurate. At least $6M of the funding has now been provided by the City of Houston.
  10. It's outrageous that this development gets a 90% tax abatement for basically providing market rate office facilities in a city that has a 20% + office vacancy rate downtown and nearby in the Energy Corridor. If this project couldn't make it without a subsidy from you and me, Joe Taxpayer, then it shouldn't get built. By giving it a tax advantage it hurts the ability of existing owners of taxable property to fill their buildings, which in turn results in their lower tax valuation, thus a double whammy to the tax base. Follow the money......how many of those elected reps who voted for this corporate welfare directly or indirectly received campaign funds from the developers, their attorneys and/or other interested parties or cut-outs?
  11. You are correct in terms of direction. My apt will face the western elevation, and although I've seen the architectural plans for the other three directions, I've not come across the western one. This building is complex, from the underground parking and podium structure supporting the pool, to the 7th floor garden/lounge areas surrounding the tower. The pool is going to be on the San Felipe side. The base was set about floor 6 1/2 and I can see them creating boxed areas for plantings and/or water features. I believe the building both widens and gets taller as it moves from San Felipe to the Cosmo, and believe that they are angling the northern elevation so that the apartments do not look directly into the Cosmo. In 10 days they should be done with the seventh floor and have much of the 8th floor formed and the mystery will be solved. From then on the structure should rise much more quickly as the floor plates are much smaller than those of the base and no ramps or pools, etc. will need to be built.
  12. The forms for the first tower floor are being built today. I’m curious as his the space is going to be divided among apartments.
  13. The color, texture and coursing of the brick is just beautiful. God is in the details.
  14. If one worked at the Hard Rock Hotel going up across the street, it would be a great commute.
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