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arcutech

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  1. This is what i've heard: Ocean Tower is concrete framed; however, it is leaning. No workers allowed in and work has stopped. Anyone else heard this?
  2. I hear from a realtor that Titan pricing will be in the $450 psf range. Anybody know how much 2727 Kirby or Turnberry is selling for? More or less than this?
  3. Had to dig deep for this posting in the archives. Everyone should read the three recent stories on Emerald by the Sea at www.galvnews.com Sounds to me like this Fadi guy has screwed this thing up royally. The posting above was from September 04! Still not ready.
  4. Grapevine News: I hear that McD's on Post Oak is selling off part of its land for a hirise and will stay in place. If i'm wrong, sorry. Pretty sure it's real.
  5. If this were a "fee simple" sale of land, it would have been sold many, many months ago. However, the Shamrock Site (for lack of any other identifying term) has been ecumbered by not one, but TWO ten million dollar liens. When you add to this the multi-million dollar tax liens, interest ticker and mechanics and materialmen's liens, the project has more than $25MM of encumbrances. Remember, it is not even the full city block. There is that awful empty building which takes up a corner of the lot. OH, and McDonalds is still out there with a signed agreement maintaining they must be rebuilt on
  6. It is my guess that she, Nancy, is waiting on the complete implosion of the developer so the "whole story" can be told. Shamrock is but a piece of what is a much more complicated, and frankly more interesting, story that is this guy.
  7. PLEASE trust me on this one....This project dead. Not on life support, not in critical condition, not anything but dead. The note is non-performing and was originally bought using funds from a pyrmamid scheme (allegedly) out of Vegas. The whole thing has unraveled in a nasty court battle in Vegas. Many thousands of people were duped and lost their savings. Ugly scene. The trailer and signage are still there ONLY because no one wants to pay to have them removed. New owner of note and only plan now is for disposition of the asset (this final term used loosely).
  8. That pic Pumapayam uses above gets me every time. Man, that's funny. The Pre-sales ads typically mean they are trying to get a certain number of contracts (not reservations like 2727, but i digress) so they can move forward with construction. I called number and spoke to sales lady who tells me actual project launch is in March. Lots of buzz on this project though. Hope it goes!
  9. Success for hotels is determined by much more than occupancy. Your assertion that this alone demonstrates success for a hotel is very telling. Since you seem to want to know more about my claim, I will expand for your benefit. Convention business is one of the lowest rated fares for a hotel. If you are not the hotel that gets the benefit of also getting the convention space revenue (i.e. you are just tangential in that your rooms are located proximate to the convention space), the rate you get is poor. You do not get the revenue with the space, nor do you get the revenue from food and beve
  10. The idea that building a hotel will in and of itself generate the needed occupancy is a dangerous concept. The idea of hundreds of thousands of sf of convention space is great. However, "if we build it, they will come" doesn't work in the hospitality industry as a rule. You need to build because of demand, not build to create it. My guess is that large conventions are not staying away from that area b/c there isn't a Gaylord hotel in the dome. If the demand for convention hotel space is so strong, there would have been no reason for the taxpayers of Houston to subsidize construction and d
  11. The hotels that are located near the dome and Reliant currently struggle. Adding more rooms to what is a struggling market doesn't sound like a great idea. And, IMHO, the dome is ugly. I know it has history, etc., but wow, it is an ugly building
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