DrLan34

I don't think a "race to the bottom" will happen, at least with what isn't already there. First time around, Houston sprawled out to an amazing degree, and a lot of cheaply built apartments with many units were done because everyone thought it would keep growing, creating whole areas of apartments that just became slums (Hobby Airport, Sharpstown, Gulfton, Greenspoint). The last big boom mostly focused on inner city buildings which converted older houses and apartment complexes to bigger apartment buildings.

"They became vacant overnight," Finger said of his projects in Bellaire, Webster and toward the Ship Channel. "It was a very difficult time generating enough revenue to pay for the debt service. I said 'Never again would I consider building on any tract of land that I didn't think was a Main and Main location.'"

The old Waddell Furniture warehouse (shown here) is being transformed into “industrial chic” lofts while the old Cheek-Neal Coffee building is being redeveloped into tech offices. 

Read more at: https://www.bisnow.com/houston/news/neighborhood/how-houston-is-making-eado-happen-56787?utm_source=CopyShare&utm_medium=Browser

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Judging by the Travis St. Plaza Apts. and the bus stops in the first rendering above, this appears to be in the same location as the proposed residential at 4510 Main

I noticed that as well.

https://www.bisnow.com/houston/news/office/united-airlines-signs-lease-for-hines-609-main-56602

609 Main at Texas has brought another major lease on board. United Airlines inked 225k SF in Hines to-be-iconic building under construction Downtown.

With 1,600 employees, United Airlines is the 11th-largest employer in Downtown Houston, according to the Houston Business Journal. Its current offices are at 1600 Smith, which it acquired when it merged with Continental Airlines in 2010.

The new 48-story spec office at 609 Main is already home to law firm Kirkland & Ellis, which signed a lease for 62k SF at the top two floors. 

Hines’ new building is expected to be completed in 2017.

 

http://www.bizjournals.com/houston/morning_call/2016/02/first-look-inside-randall-davis-new-astoria-luxury.html

Randall Davis Co. and DC Partners are also under construction on two other luxury condo towers in Houston:

• Arabella, a 33-story, 99-unit tower at 4521 San Felipe, near the River Oaks District in the Galleria area. Units cost between $800,000 to $4 million.
• Marlowe, a 20-story, 100-unit tower at 1311 Polk St in downtown Houston. Units cost between $400,000 and $1.4 million.

New information from nate4If3:

"https://twitter.com/...632260748877824"

Great news.

Crane coming down now.

I heard a coffee shop is going to be built here but not confirmed.
 

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http://houston.culturemap.com/news/restaurants-bars/02-01-16-shuttered-midtown-restaurant-will-be-transformed-into-tequila-and-taco-joint/

"New tequila and tacos joint set to rock Midtown eat and drink scene"

http://www.bizjournals.com/houston/print-edition/2015/12/11/winners-and-losers-in-houstons-job-market.html

Office demand is undeniably decreasing—and will do so more over the next six to nine months as energy M&A and bankruptcies pick up, Bruce says—but leasing hasn’t entirely stopped. Chip says oil companies are on the sidelines, but 50% of Houston’s tenants are non-energy, and they’re on the market looking for better deals. There’s a lot of law firm activity in particular, especially in high-profile Downtown locations. He inked one at 609 Main at Texas recently and says that building is getting strong interest overall. He’s got 500k SF of proposals, all non-energy related. Chip thinks 2016 will be pretty flat (a good time to build relationships for the next cycle, he says), but so far he isn’t seeing rents dip.
 

Read more at: https://www.bisnow.com/houston/news/commercial-real-estate/did-tumbling-oil-prices-save-houston-54965?utm_source=CopyShare&utm_medium=Browser

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Taken 1/23/16

West building

http://www.cnbc.com/2016/01/21/oilfield-services-firm-schlumberger-cuts-10000-jobs-makes-1b-loss-in-oil-price-rout.html

Schlumberger cuts 10,000 jobs amid oil price rout

Dinerstein Mixed-Use 

While this project is still on the down low, we know that Dinerstein is planning a new project at the northwest corner of Post Oak and San Felipe. TRC Capital Partners CEO Steve Lerner tells us the multifamily community will have 30k SF of retail. According to Reality News Report, the project is a 30-story mixed-use tower with two levels of retail and the less than two-acre site was acquired for a pretty penny at $20M. We’re waiting on an official announcement from Dinerstein with all the juicy details. 

Read more at: https://www.bisnow.com/houston/news/commercial-real-estate/5-exciting-post-oak-projects-underway-54544?utm_source=CopyShare&utm_medium=Browser

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http://www.chron.com/business/real-estate/article/SkyHouse-creates-mini-downtown-neighborhood-6758794.php 

"The first tower, SkyHouse Houston, opened last year with 336 units. The building is 78 percent occupied, manager Kristina Cotter said this week on a tour of the property."

ents in SkyHouse Houston start at about $1,500 and go up to $3,300. Units include small studios, one-, two- and three-bedroom apartments. Each has a balcony.

Atlanta-based Novare Group and Batson-Cook Development Company along with local developer Peter Dienna are jointly developing the project, which will include street-level retail. Pizza chain Your Pie recently opened in the first building. SkyHouse Main is expected to open this summer.