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JWW

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Everything posted by JWW

  1. So do we feel certain that the demo will not happen before 7am? Taking a few friends down and guess Prairie and Milam intersection is the best place to go
  2. Speaking of lighting, can someone explain the flashing lights on some of the upper floors that occurs nightly? Looks as if a fire alarm is going off...
  3. Regardless of Nate's prognostications and predilections for this tower, it is off the table. Confirmed.
  4. Yep, this 3.7 something acre site has already been under contract for a bit, now. Dean Patrinely - Patrinely Group - has the entire site tied up. For redevelopment. Residential, no surprise. Over 200$/ft.
  5. There are countless land-use restrictions in Houston, and under Bill White and Parker, those restrictions have jumped in number. This is not unusual, much less "highly unusual", at all.
  6. http://swamplot.com/ashby-highrise-developer-knocked-down-fence-was-on-our-property/2013-06-03/
  7. So, now that this thread has become a travesty of a worthwhile HAIF discussion, let's move on with the posts
  8. 1. Of course it would be "wise for the developer to obtain them". It would also be wise for the developer to get first right of refusal on a sale of the remaining McDonalds property. It would be wise for the developer to obtain any restriction he can on the adjacent property - and as I keep telling you, that was not going to happen - because of McDonalds having the LEVERAGE because the site has the value here. If you do not believe it, I could not care less. The only thing silly thing here is that you are talking academically about a deal with details that you do not know about and your generalizing is inaccurate. "Perfectly reasonable that the seller agree..." - not at all. McDonalds has too much leverage in the deal. "Who would probably pay a little more for its lot" - not at all, was not going to happen. Your academic generalizations do not accurately describe this deal and the leverage in it. Of course the buyer wants to institute every restriction he can on the McDonalds site. Of course the buyer wants to put in a height restriction. And, as I said in my post that you have continued to argue with - "No major oversight - no oversight, at all, actually. McDonalds has too much leverage in this deal. The site has the value. Not that it is impossible, but good luck preventing a next-door development from general "adverse effect" of your development....too many things a development can do that can adversely affect your adjacent development." You have gone from taking an academic and obvious approach at looking at how to buy a property to extrapolating what is "nonsense" in this deal, "perfectly reasonable" in this deal, that the buyer would "probably pay a little more" in this deal, and then trying to rebut my comment about "good luck preventing .....general 'adverse effect'..." by stating that some restrictions and covenants are implemented "all the time" - which does not rebut what I said, at ALL - I said good luck preventing GENERAL "adverse effect". When you use subjective "nonsense", "perfectly reasonable", and "probably pay a little more" claims in a deal that you obviously do not know about, that is when your argument goes awry. 2. Your request for a document between the seller and buyer to be posted on HAIF is not going to get any more of a response than this. Get serious.
  9. 1. You obviously have no idea what you are talking about. It was not done, and for the exact reason I stated - the leverage. 2. Who claimed restrictions and covenants are not imposed "all the time" ? You, apparently, did not read or did not follow my statement - so I will repeat one line of it - "good luck preventing a next-door development from general "adverse effect" of your development. "GENERAL 'adverse effect' " - not specific. There is always a way an adjacent development can adversely affect your property.
  10. No major oversight - no oversight, at all, actually. McDonalds has too much leverage in this deal. The site has the value. Not that it is impossible, but good luck preventing a next-door development from general "adverse effect" of your development....too many things a development can do that can adversely affect your adjacent development. I would presume McDonald's owns the land and the franchisee rents from McDonalds. Regarding selling the land, remember the hackneyed Ray Kroc quote about McDonalds being in the real estate business. The best thing the new remaining McDonalds site has going for it is that it is not as large as these other sites - aka it is cheaper. The hard part will be getting something more profitable on that small site that is feasible to build/exist on it.
  11. I think 11 replies to refute Kinkaid's assertions and predictions are enough.... Does anyone see much of a market for mid/high rise condominium living off Post Oak or nearby at a lower density/higher price point than Astoria? (2727, Monetebello, Huntingdon).
  12. Someone know the listing price? Kinkaid Alum is not too prescient...and not familiar with this project's market. Very well put, each of your points.
  13. What is the name of the project? HouDev, I have a question about HUD popping a GC for delays... I will post it in the D and R Estate thread if you feel like responding..
  14. Would you mind reposting your question in "Development and real estate" ? That way people not interested in this project can still see and respond to your more general question. I'm interested, too...
  15. Niche, Thanks for that information. Please consider posting this at "Development and Real Estate" thread, as well, so that people who do not read about this project, specifically, can still learn this knowledge, generally, as it pertains to all sorts of projects. Great post.
  16. Seriously? These "arguments" again? It does NOT MATTER WHETHER YOU THINK IT IS "SMART" OR NOT. It does NOT MATTER WHETHER YOU THINK THE BUILDING IS TOO TALL OR NOT. (As the fact that the proposed project being multi-family is irrelevant here with the current structure's being multi-family) It does NOT MATTER WHETHER THE DEVELOPERS ARE "LUCKY" THAT THEY HAVE BEEN RESTRICTED FROM BUILDING THEIR PROJECT, SO FAR. It does NOT MATTER WHETHER YOU THINK THE DEVELOPERS SHOULD PICK ANOTHER SITE OR HOPE THAT OTHER PROPERTY OWNERS "WOULD TRADE" FOR THIS SITE. It does NOT MATTER WHETHER THIS PROJECT IS SUCCESSFUL, FROM AN ARCHITECTURAL, CIVIC, FINANCIAL, OR ANY OTHER RELATIVE VIEWPOINT. It does NOT MATTER WHETHER YOU LIKE THIS PROJECT. The developers have unrestricted land. If the appropriate governmental authorities (probably courts, in this case) find a legal reason this project can be limited, they will and the project will not go through as currently desired by Buckhead. If nothing is found, the developers may take their chances. Please stop rehashing and repeating the same worthless and immaterial commentary.
  17. Good point? Of course there is a difference between what one is able to do and what you think one should do. IT DOES NOT MATTER WHO ELSE WANTS THIS DEVELOPMENT OR NOT. THEY CAN BUILD IT AS-OF-RIGHT. How many more pages on this thread do we need with more comments about people commenting on what they think the developer should do or not?
  18. Thanks for your sarcastic recommendation about risk to the owners who, like many of us, could not care less what you think about this. Buckhead can build this as-of-right. End of story. Seriously.
  19. Before we jump to conclusions, it might be better not to fan rumors about sales without someone actually getting verification before commenting. When does the building close? I am posting this question on Development and Real Estate too - can anyone explain the process of a building closing (including receiving C/O, financial closings of units, etc).... ???
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