Search the Community

Nancy and Rich Kinder ranked in at No. 315 on Forbes' 38th annual World Billionaires List. With an estimated wealth of $8.1 billion, the couple have become synonymous with transformational arts, education, green space and quality-of-life initiatives in Houston. Over the past two decades, the Kinder Foundation has donated more than $20.2 million to downtown urban park non-profit. The Kinder Foundation pledged $50 million in 2013 toward the Houston Parks Board's Bayou Greenways Project. Additional lead gifts include $100 million donation to Buffalo Bayou Partnership, $50 million to the Kinder Institute for Urban Research at Rice University, $70 million to Memorial Park, $30 million to Buffalo Bayou Park, $5 million to 50 SPARK Parks, $4.7 million to Emancipation Park, $4 million to Willow Waterhole, $3 million to Trees for Houston and $2 million to Hermann Park. The Kinders gave nearly $75 million to Museum of Fine Arts, Houston, where Rich Kinder serves as a chairman on the board of trustees. Their gift led to the naming of what is now the Kinder Building, a permanent home for the museum's international collection of modern and contemporary art. https://www.houstonchronicle.com/lifestyle/article/who-are-nancy-and-rich-kinder-19404941.php

DC Partners Acquires NY Firm to Broaden National Scope | Realty News Report "HOUSTON – (Realty News Report) – DC Partners, a Houston-based real estate and development firm, has expanded its national presence with the acquisition of New York-based Design Building Partners. The strategic collaboration between the two firms will integrate development and construction, as well as acquisitions, capital and asset management." The DB Partners website now has a note about the merger on its front page and features a link to the DC Partners Website.

With the announcement of Tilman Fertitta buying the ROD for $500 million made me think of something. I thought, maybe 10 or 15 years ago, Fertitta was having financial problems and was selling off properties. Times change, and the rich get richer, so maybe it doesn't even matter. He actually bought a parcel in Memorial recently as well. Can't wait to see what he does with that! Tilman Fertitta has done a lot for Houston, especially for the University of Houston. Though, some people get a weird vibe from him and his restaurants. I remember the whole fiasco about UT's 307-acre proposal, and how Fertitta sided with UH and got politics involved, thus causing UT to back out of the proposed campus. Anyways, enough about his character. Tilman and his Fertitta Entertainment built the only 5-star Hotel in Houston, The Post Oak Hotel At Uptown Houston. Pretty impressive real estate developer! I look forward to the renovations and additions to the River Oaks District. It's also nice to know that ROD is now locally owned. There are 2 vacant parcels on West Creek Lane, and one old (1990s?) apartment complex. I'd hope for a hotel, or office building since the area already contains high-rise condominiums and apartments. Here's a photo I took today while visiting BLVD Place. TPOHAUH (The Post Oak Hotel At Uptown Houston).

What's going on over at McNair Interests? They had 2 (maybe 3) proposals for Post Oak at Richmond but nothing ever got off the ground. Meanwhile, they started construction on a mixed-use development elsewhere in Houston, and are planning another Mixed-Use development near The Heights. There was also renderings released for the South Post Oak Lane development(s). I wish McNair Interests would complete one project a time, starting with their "legacy" development on Post Oak Blvd at Richmond Road. Someone on HAIF speculated that they are waiting until the 610/59 construction is done before breaking ground. However, that interchange is kind of always under construction. One of my dream proposals for Uptown: Teaser from a few years ago. There was a glass facade mock-up built.

This article was in my Google feed on my iPhone. A 3-year-old company named Vero Sade is getting into the Lone Star multifamily market in a big way, and it brings a little New York chutzpah thanks to the firm’s second home base at 650 Fifth Avenue, the Midtown Manhattan office location of parent company Vero Capital. That’s where Jay Glickman, who turned 30 in November, has spent much of the last three years and counting thinking about the next up-and-coming neighborhoods in Houston and Dallas-Fort Worth (DFW). https://commercialobserver.com/2024/02/jay-glickman-vero-sades-texas-multifamily-us-living/

Chronicle has a good article on him in today's paper. http://chron.com/disp/story.mpl/front/4876742.html Just some quotes I found interesting: I wonder what the best "probelm area" is prime for taking on right now? Breath of fresh air. Does anyone know if he's had any recent projects here or if he's currently got one going on?

Thought I would create a dedicated thread to the company Triten Real Estate Partners. I really like their developments and look forward to seeing more! Here is their website: https://tritenre.com/

I nominate NewQuest Properties for Idiot Developer of the Year. Their penchant for clearcutting and tossing up cheap-looking strip centers is unrivalled. They're developing a heavily wooded parcel behind a neighborhood with million dollar homes over near Grant Rd. & Louetta. It's a nicely wooded parcel and there's really absolutely NO need for any more strip centers as there are numerous brand new centers that lie mostly vacant. So I asked them what they were planning on building at that location..they said "they didn't know"..."not sure yet"..."but we're clearcutting that land"...."you see, the beauty of Texas, rather the beauty of Harris County is that we can do anything we want with the land" Even if that means pissing off the communities you develop in? Pissing off the very customers they ultimately hope to serve by trashing their community with more junk they don't want? Brilliant strategy NewQuest. Brilliant. Good developers create lasting value, and are welcome in the community. NewQuest isn't one of them.

Beacon Capital Partners is a life-science oriented development company based out of Boston, MA. They do amazing projects. Website: https://beaconcapital.com/ I stopped by TMC Helix Park yesterday and noticed the tower crane base for 2 Dynamic Way (formerly 2 Discovery Way) was removed. This is a bad sign for 2nd tower to go up soon. I thought more rebar was being added for the vertical construction? On the latest TMC Helix Park master plan, it appears at one point, Beacon was going to develop parcels E, A, J, and Dynamic 1/2. Hope they are still able to move forward! I also noticed Beacon Capital Partners dropped out of TMC BioPort. Really unfortunate news! It seems as @H-Town Man was correct about the sluggish Life Science sector right now. Hopefully the market gets a boost soon so some of these projects can move forward! Before: After: The BioPort Development Team was a dream!! All-star lineup! Hopefully someone else provides private equity to fund the project. Alexandria Real Estate Equities?

The Star is now being managed by The Morgan Group. I believe this is the same org that handles all of the various Pearl apartment buildings around town. Does anyone have any experience or thoughts about this company? (Staff says that The Star was sold to Morgan, but the official announcement only says the management was changed. I don't know which is true.)

http://www.medistarcorp.com/developments.shtml

From Midway Annual Report http://midwaycompanies.com/media/site-media/Publications/160208-Midway-AR-LO.pdf

I recently learned about Harry Reed & Company. Was this a local Houston firm that specialized in building multifamily apartment complexes? Anyone know the history of this company? I noticed they were not as big as the other Houston apartment developers.

Alexandria Real Estate Equities, ARE, is another life science focused real estate developer. Would love for them to make a big "splash" and move into the area. Their website lists all the infamous Bio Tech clusters but does not mention Texas, or Houston. Hopefully once all our brand new life science space fills up we will be considered a cluster. Website. https://www.are.com/ ARE had their sites on developing the former Sam's Club on South Loop West but I believe the market went sour so they backed out? They recently completed a Bio Tech Campus located in The Woodlands. Here's the campus at 8800 Technology Forest Place in The Woodlands.

Thought it was about time to make a thread about AHC. Great multifamily developer!! https://www.allenharrisonco.com/

I was researching the developer of the Willowbend neighborhood of Houston. It looks like Krist Hubert was the developer of the residential subdivision in Southwest Houston. I believe other important figures in the forming of Willowbend were Frank Burkhardt, and Evera West. Krist Hubert also helped Frank Meyer develop the nearby Meyerland neighborhood as well. Appears he also built homes in Bellaire to. In the magazine House & Home dated February 1958 there was a small detail of the Willowbend neighborhood. Medium Priced: Willowbend is a community of 700 houses in the $16,000 to $20,000 class. Sixty different builders have worked here. Its trees are a big feature, were carefully protected because lots with good trees are scarce in Houston and command a good price. Developer Krist Hubert (like many other developers) got his start in the building business. He was a painting contractor, now owns a lumber yard and builds some houses himself. He helps small builders by selling one lot a a time. He also provides some construction funds. Parade plan book by Houston Home Builders Association dated 1950: Burkhardt and Hubert Construction Co. of 5104 Elm Street in Bellaire - MA-0407 built the 1950s Meyerland home at 5107 Jackwood. The home was designed by L.B. Wooters. Engineering News-Record 1960: Hubert Lumber Co., 5104 Elm St., Houston, Texas. Engineering News-Record 1957: Krist Hubert & Assocs., 5107 Jackwood St. The newspaper The Bellaire Texan dated June 29, 1955 it appears Krist Hubert lived at 5300 Aspen Drive in Bellaire, TX. Last night, Krist Hubert, 5300 Aspen, was installed as the new president of the Bellaire Lions Club at John's Restaurant. Mr. Hubert is a native Texas. He migrated from Halletsville to Houston 26 years ago. In 1948 he came to Bellaire and started a successful career in building homes. He owns the Hubert Lumber Company at 5104 Elm. Aside from building nearly 400 homes in Bellaire and neighboring areas, he has been interested in civic affairs and politics--

I was researching the developer of the Westbury neighborhood of Houston. It looks like Ira Berne was the developer of the residential subdivision in Southwest Houston. Julian Keither also helped Ira Berne with the Westbury Company. (formally known as Berne Company?) Ira Berne also developed the Westbury Square Shopping Center as well. In the magazine House & Home dated February 1958 there was a small detail of the Westbury neighborhood. Westbury is the most active subdivision in Houston's growing southwest. Photo shows a portion of the first section, where 20 builders have erected houses. The finished development will have 5,000 lots. Most houses here sell for $16,000 to $35,000. His wife, Geral Berne, obituary mentions they lived at the Lamar Tower at 2929 Buffalo Speedway. https://www.legacy.com/us/obituaries/houstonchronicle/name/geral-berne-obituary?id=20774692 A truepeoplesearch result also mentioned Ira Berne lived at 2929 Buffalo Speedway: 2929 Buffalo Speedway #2004 Houston, TX 77098 Harris County (Apr 1993 - Mar 2015) From the newspaper The Bellaire Texan dated August 13, 1958: Westbury Will Be Site Of 1959 Home Builders Parade Of Homes The display of new homes, 1959 style, will be on 35 lots on Warm Springs in Westbury Section 3, adjacent to Parkwest. Julian Keither, of the Westbury Company, said homes on display will include both those of the type being constructed in Parkwest and in Westbury- Westbury addition is being developed by Ira Berne. Started early in 1955, the subdivision now has 1600 homes, and consists of Westbury, Parkwest, and Westbury South. Eventually the developers expect 4800 homes will be built on the 1700 acres included in the addition. The subdivision has two elementary school sites, one of which will be ready for this fall, and a senior high school site at Chimney Rock and Luddington. The new junior high school for the South Post Oak area is located adjacent to Westbury. There are also plans for a 50 acre shopping center to be known as Westbury Square at Bellfort and Chimney Rock. From houstonhistorymagazine.org: As the city’s boom continued through the 1950s and 1960s, other developers followed the same formula. In the mid-1950s Ira Berne’s Westbury Corporation developed the large Westbury neighborhood at the end of South Main. Covering three square miles and containing 5,000 homes. Consistent with the social conformity of the 1950s, all of Westbury’s homes were ranch house designs, but they featured a remarkable amount of stylistic diversity. If you can afford $125 or more a month Your family belongs in this picture.. Just picture your family in these wonderful surroundings... full of the warm satisfaction and pride your first fine home inspires. If you're looking for your first time home, and want to invest shrewdly, we suggest you visit Westbury. Take a leisurely look through the homes...walk through Westbury Square with its fine shops, restaurants and class fountain...drive through the miles of beautifully landscaped boulevards compare it with any community you've ever seen! We're sure you'll agree with the thousands of families who have looked...compared...and bought more homes in Westbury than anywhere else in Houston. So, if you're looking for a home...$17,000 to $52,500... drive out today! We're open from 9 'till 7 seven days a week. If you want any information before coming out call us at PA 3-2600. Westbury Post Oak Road at Willowbend Blvd. A Berne Company

It looks like Camden Securities Company has bought a bunch of Fidelis properties. I am seeing these properties that have recently changed hands. Fairway Center River Oaks Plaza Uptown Collection Retail Center West University Marketplace I wonder if Fidelis is having a hard time these days?

Finger Cos. sells 20 apartment properties to Greystar venture in $2B transaction Katherine Feser, Staff writer Oct. 20, 2021 The Finger Cos., a Houston-based apartment developer and operator founded by Marvy Finger in 1958, said Tuesday it will sell 20 properties from its national portfolio for $2 billion. The sale, to a venture led by the international real estate company Greystar, is expected to close in December. As part of the deal, the Greystar venture will keep Finger’s on-site employees. The locations and number of units were not disclosed, but represent roughly half of the Finger Cos. portfolio. The deal results from strong global demand to invest in apartments, which have fared better than office and retail properties, during the pandemic, according to Finger. Investors spent $134.9 billion on apartments in the United States in the first eight months of 2021 through August, nearly double the amount invested during same period in 2020, according to Real Capital Analytics. “I did not go knocking on doors to sell,” said Finger, the company’s CEO. “It’s a moment in time where values went up 40, 50 percent or greater in a very short period of time.” Finger, 85, is known for holding onto most of the properties he develops since opening Colony Oaks, a 317-unit complex on Chimney Rock in Houston in 1959. His formula includes building in prime neighborhoods — what he calls “Main and Main locations” — that attract residents, even during downturns. These are areas with close easy access to stores, services and amenities. “The fundamentals today are no different than they were early on when I started. I didn’t know the word ‘walkability’ early on,” Finger said. “But I can say I have more apartments that are within one to two blocks of a major food market, and I know that’s one thing that truly creates the beehive.” A JLL Capital Markets investment sales advisory team led by Scott Galloway and Dustin Selzer in Houston and Roberto Casas in Dallas is representing Finger in the transaction. The sale includes garden and mid-rise apartment complexes. “Marvy is one of the true icons of the multi-housing industry,” Scott Galloway, executive managing director of JLL Capital Markets, said in a statement. “These assets not only come with prime locations, but they also come with the highest quality product offerings and the best management team in the business. They perfectly complement Greystar’s national portfolio.” Greystar, based in Charleston, S.C., manages more than 748,000 units in the U.S. alone and has $45.1 billion of assets under management. katherine.feser@chron.com twitter.com/kfeser

Did Guefen change names or merge with someone else? Ascendant was announced this week as a new developer but no mention if they were Guefen. They share the same address and suite. https://www.ascendantdevco.com https://guefen.com

I just need a little over $9.5 mill and I would buy it. http://search.har.com/engine/2307-River-Oaks-Bl-Houston-TX-77019_HAR17501491.htm The county records show a major renovation was done in 2007 so I doubt it looked exactly like that in the days he was there but still kind of a cool part of history to own. He actually died in the house in 1993. http://www.chron.com/CDA/archives/archive.mpl/1993_1121241/frank-sharp-dies-in-sleep-at-age-87-success-scanda.html

I guess Randall Davis isn't getting the hang of this newfangled internet thang. If you try to sign up for the company's mailing list on its web site, you'll get a nice error bounced into your e-mail about how the Randall Davis mailbox is full. I wonder how many messages are backed up in there, and for how long. Hundreds? Thousands? You can't even send mail to the general e-mail address (info@randalldavis.com). Note to RD folk: Splashing out on a very slow, very loud Flash web site does not an internet presence make. (Disclosure: I'm a former RD renter)