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RealEstate

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  1. Garces Group. Philadelphia-based restaurant group behind Amada and a slate of well executed eateries. Their brokers are out of NYC, so they're merchandising with many east coast names. I would regard all of it as marketing fluff until announcements are made.
  2. Before you get too excited - their merchandising plan is just a wish list of the tenant types they hope to attract. None of those deals are signed. They may have some luck on the local food and coffee prospects.
  3. The former Subway space occupied by Provisions, LLC will be a new Tex-Mex & tequila concept by a group that owns several bar and food concepts around town. The Thai space will be a new outpost from the owners of Morningside Thai. The area is quickly filling in. This may be the place to be in 2016.
  4. 213 Milam per the broker's flyer. Entrance is to the west and north of Barnaby's.
  5. La Fisheria's relocation will be to the vacant restaurant space next door to Barnaby's (immediately to the West). Market Square is quickly becoming one of the most exciting nighttime destinations in The H.
  6. @HeightsPeep, I would like to offer some additional free advice - you would be far more persuasive if your arguments were based in logic and not in emotion. These forums are meant to be an avenue of discussion about real estate and not avenues for personal attacks. It's very easy to hide behind an alias and make claims of grandeur. But to answer your question, I do own multiple residential and commercial properties in the area. Not "a dozen" like you, but several. And if you count units, I suppose I do own over "a dozen." I've also developed and remodeled properties in the Heights. These factors do not give me any more standing on this forum than my neighbors who own less in the area. @HeightsPeep, buying in the area is as easy as writing a check and that action takes little skill. The vast majority of properties in the Heights do not meet current code and are grandfathered in. Have you ever DEVELOPED a commercial property in the Heights? If so, why don't you share this property and your experiences with us? Again, we can all be heroes behind an online alias. You just said in your prior post that you wanted them to build a large parking garage. But you now want them to "scale back" - which one is it? As a person who spends his life building real estate, I know that developing a property that is the scale of this project is not a simple undertaking. These developers should be applauded for their efforts and LACK of greed. A greedy developer would have built a 20 story high rise structure on the large lot and replaced the smaller buildings with NNN drive-through deals. That's not what the neighborhood wants to see here. Have you ever contacted the developers of this project? I reached out to them after reading about this project and they contacted me within minutes. They couldn't have been any more professional and were genuinely enthusiastic about the positive impact this project will have for the area. @HeightsPeep, commercial land prices in the Heights no longer support the construction of SFR Victorian houses. Have you not seen the architectural atrocities that almost every other developer in the Heights has built? Do you even know what Yale looks like? I cross it every day and it is architecturally horrific. This development would be the single nicest property ever built in my corridor of the Heights. Their architect's portfolio and reputation are beyond reproach. Kudos to the developer for trying to use existing buildings and keeping a multi-parcel development. I really hope the developer reads this message and knows that there are many more of us reasonable, progressive and appreciative Heights dwellers. We will all support your project, so please retool your efforts and resubmit your plans.
  7. @HeightsPeep, you are obviously a neighbor with a vested interest and not a real estate developer. As a person in the construction industry, I'll give you some help. With a speed ramp and structural footings, the developer would need a ground + 4 story parking garage to accommodate the parking on that lot. It would be highly unlikely that they can economically justify a scaled 1 and 2 story retail development with a 5 story parking garage. That is why TCR is building a 6 story project across the street. Based on your prior posts, I'm sure you would also then object to a 5 story garage being built. Even with the garage, many patrons will still opt to park in the head-in parking and neighboring streets. Some people, myself included, just prefer to surface park. As a neighbor who walks and bikes by this property every week, I am ashamed to have allowed people like you to be the voice of the Heights. You do not represent my interests and quite frankly, your emotional tirades discredit your views. I only hope this developer will come up with an acceptable alternative solution so that this project actually gets built.
  8. Yes. Trammell Crow Residential purchased the former Fixtures Unlimited site last year. They're planning on building a second project, the Alexan Yale.
  9. Alright, don't take my word for it, see a shot of the mortgage package below confirming HKS as the project Architect. Bam.
  10. The rendering posted is HKS's handiwork. I'm a fan of the concept. At this point, the Redstone/Stream conceptual plan that you're looking at calls for (1) a 20 story office tower that consists of 12 stories of large floorplate office (each floor over 33k sf, thus approx. 370k sf in total) sitting atop 8 stories of parking, (2) a taller approx. 30 story hotel/resi tower with 297 hotel rooms and 100+ resi units and (3) just under 75k sf of accompanying ground level+ retail. Pretty ambitious in this environment. It will take a minor miracle to get financing for this one, so don't hold your breath here.
  11. Once again McGillicuty, I have to call you out, man. You are quickly becoming a volcano that spews misinformation under the blanket of news from alleged "sources." Have you and your alleged "source" not been reading the news? Lehman filed for Ch 11, AIG got bailed out and MS shares are down over 30% today to sub-$20 levels. Both you and your"source" at Crescent are wishful thinkers. Plus, I spoke with my own "source" earlier today. Who I will add, is a real person that is intimately familiar with the He$$ deal. He confirmed that He$$'s deal at 6 HC is DEAD and has been dead for some time. They are down to two options: backfilling Devon's space at Allen Center or Discovery Tower, with TCC willing to redesign Discovery to accommodate. 6HC is on hold indefinitely and will likely not be built until markets return to normal. I personally wish it weren't so, but it's time to accept reality and move on.
  12. Sir, based on the lack of authority evidenced in your prior posts, it is you who is presently eating the proverbial "crow." On Monday, January 14th, 2008 @ 3:14pm, you wrote "I heard 6 Houston Center will begin Feb 1 2008 and finish before the MainPlace and Discovery Tower" On Friday, January 18th, 2008 @ 11:58am you wrote "Crescent is breaking ground on 6 Houston Center in 30 days. " On Tuesday, February 19th, 2008 @ 4:41pm you wrote "Groundbreaking March 6th. " On Monday, May 19th, 2008 @ 1:57pm you wrote "it is happening for sure." Maybe it's time for you to pack up shop and try another board-- perhaps the crow eaters community?
  13. I have to dispel the rumors that I've been reading on this board. From what I hear, there is ZERO chance 6HC moves forward anytime soon. That's not to say that it won't ever happen, but don't hold your breath on this one. I base my statement on the following information: I've just heard that Morgan Stanley has put the project on hold and is not moving forward-- this came from senior people involved in the project. More specifically, lenders are no longer married to this project AND construction personnel that had been staffed to this project have now been placed on others. In the most recent quarter, Morgan Stanley took a $150m writedown on its investment in Crescent. MS is actively dumping all of the trophy Crescent properties in a bid to raise cash- they currently have Greenway Plaza, Post Oak Central and One Briarlake Plaza on the block and have already sold 5 Post Oak Park to Shorenstein. They need the cash. They need the cash NOW! Wall Street firms are in the midst of a deepening credit crisis and MS is thus highly unlikely to take on a large scale spec project in this environment. By breaking ground on Main Place and Discovery Tower several months ago, Hines and Crow have already beat them to the punch and they have lost the first mover advantage. Now is not the time that MS will agree to be the last entrant into the spec CBD market. There has been no preleasing activity to date. From what I understand, this project will only move forward in the very near future if there is a big chunk of space is preleased. Anything is possible, but Houston tenants tend to plan 12 months out and they will thus likely gravitate toward Main Place or Discovery Tower. Thus, barring an existing HC tenant preleasing space, this project is on ice. I hate to be the bearer of bad news, but this one won't get done ... at least not soon.
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