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SMU1213

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Everything posted by SMU1213

  1. SMU1213
    Bring the Astrodome down to it's steel studs and put a park in the middle of it. Next question.
  2. SMU1213
    They should have artists paint murals on the columns at that overpass. Could be really cool.
  3. SMU1213
    I really like this building. It looks great.
  4. SMU1213
    Hanover is doing the work in partnership with the TIRZ and city.
  5. SMU1213
    Anyone have any idea on an expected completion date?
  6. SMU1213
    Per HCAD, Apache owns the entire block outside of 6 Blvd Place and Metlife owns the block surrounding the pocket park.
  7. SMU1213
    Or because no one over the age of 30 wants to live in Midtown and people under the age of the 30 don't pay the rents necessary for a succesful highrise development.
  8. SMU1213
    This project is looking great. I can't wait for it to open.
  9. SMU1213
    Hanover is burying the power in front of their development. I'd imagine that anything like the above is temporary but who knows.
  10. SMU1213
    The one on the road is going away. Having it off of the road and under the trees is 100x better than what was there.
  11. SMU1213
    My uncle new a guy that was in the band for a while. CB Hudson
  12. SMU1213
    Except for the fact that carry costs (including pref and or/opportunity costs) on that expensive of land is millions of dollars a year. Heck, the taxes on that property alone are half a million a year.
  13. SMU1213
    Probably true but Kirby Ice House has a higher NOI (and a much higher return due to the difference in cost) than the proforma for the shelved multifamily development that was planned on the site, so you never know.
  14. SMU1213
    Glass half full view - this will be a great redevelopment site in 30-40 years!
  15. SMU1213
    Axiometrics has them at 53% occupied and The Travis at 41% occupied. ApartmentData has them at 53% occupied and the Travis at 39% occupied. Based on what I can tell from the occupancy schedule on the website, Drewery opended in July '19 and The Travis opened in April '20. For comparison, Apartment Data has The Driscoll and Colombe D'or both opened in August '20 and are 60% occupied 45% occupied respectively.
  16. SMU1213
    Yes, but they are significantly lower than most of the other highrises that are going through the same pandemic.
  17. SMU1213
    I would actually argue that they made it harder for future highrise development in Midtown because The Drewery's rents are so low. Their effective rents are low enough that developers would struggle to make a podium development underwrite, much less a high rise. Also, they haven't been able to get past 65% occupied even with their low rents. The Travis is a much better story for Midtown.
  18. SMU1213
    Someone should have converted it into a comedy club...The fact that all Houston has is The Improv at the Marq*E is embarrassing.
  19. SMU1213
    No. There are multiple tracts that are on the market in that area that I know the pricing of and it is nearby, so it is a good data point.
  20. SMU1213
    Lower Heights District is less than a mile away and you could build an additional 50 affordable units for the increase in land cost. Hopefully the city would rather have 50 additional units than build at a spot with some of the highest land values in the city less than a mile away.
  21. SMU1213
    You realize that land by the bayou is worth about twice as much as land less than a mile away right? They could put affordable housing by the lower heights district for land about 40% less than this site.
  22. SMU1213
    TIRZ 5 has plans to remove the concrete in White Oak Bayou. It's part of their next major project.
  23. SMU1213
    You mean like Hanover Rice Village?
  24. SMU1213
    John Moore's (ex-owner of the Padres, from San Antonio/Houston) investment company (JMI) masterplanned and developed the area around the Padres' stadium.
  25. SMU1213
    Why do you think that? Has Midway ever done workforce housing? Market rate units tend to underwrite better regardless of a tax credit. And if they are going to try to push the retail rents, they are going to want as high of an average income as possible in their multifamily projects to show any potential retail tenants.
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