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fernz

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Everything posted by fernz

  1. That makes sense. The only problem is you can only tell when you hit the bottom of the cycle in hindsight. For all we know, the bottom is a couple of years from now, when all buildinga that are currently under construction are finished, and nothing has broken ground, or leased, in a couple of years.
  2. It's a nice looking rendering. But the building will only look like that if the lights are on in every room of every unit... Not likely to happen, especially since many buyers are foreign nationals.
  3. Yes, and other hotels will be ready, including JW and Marriott Marquis. This hotel was always considered a future addition
  4. It's two different types. Sometimes you drive them, sometimes you drill them. It probably has to do with site and soil conditions.
  5. Wow, all of these comments based on a rumor. Does anyone here know for sure that the store is doing worse than projected?
  6. Doing things differently than in the 80's is a good thing, unless you want investors to run away from Houston real estate again
  7. Very ballsy move in this environment, with the first building 58% leased. That's what you can do when you go all cash!!!
  8. It's possible they are drilling the piles for the hole's retention wall
  9. I hear you...sometimes it seems like there's a special constitutional amendment for Houstonians protecting their rights to surface parking. And no liberal company from Austin can take that away from us!!!
  10. Because most people booking a room in downtown Houston aren't looking for a retractable roof or a sky lobby. They want a good quality hotel with great service, good food, and close to the business they are attending.
  11. I'll be the first one to say the re-design is a huge letdown, and more than anything a missed opportunity - it's a terrible thing to know what we are missing out on. However, from the developer and operator's point of view, it makes sense 100%. Look at the two designs side by side, and think about the huge cost savings from eliminating all those sexy curves. I bet they are saving a few million dollars. And the reality is that no, they don't need to reduce the price per room one cent as a result; these savings are all in the bank - and most importantly, reduce the risk of default in case the economy slows down so much that the revenue drops more than expected. The Valencia Group (operators) knows very well that the exterior design has a minuscule impact, if not zero, on the success of the hotel. Service, rooms, amenities, location, are all much more important. Imagine the conversation, you are looking at both designs, and pondering if the redesign is worth the millions you are saving, and someone says that the hotel won't be as successful if you go with the redesign... Then, you compare the redesign with the hotel Sorella, which you also own and operate. The hotel Sorella which has been wildly successful, made Conde Nast magazine list of best hotels in the world, this hotel Sorella: And you think...If that building, way out in the West Houston, in the corner of I-10 and the Beltway can be so successful, then this building, in Downtown Houston, with everything happening there right now, with the same service, amenities, quality, rooms as the Hotel Sorella, will do just fine. Hell yes, I'll take the millions in dollars in savings, too bad if we don't the make cover of Architectural Record! So as I said, huge disappointment in design, but it is the right thing to do.....and for the record, no, I don't work for Midway.
  12. It wasn't this bad, but pretty close....
  13. You can just click on the link, you know? Anyway, it really has changed. It pretty bland now compared to the old renderings.
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