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  1. Nothing to report here but was walking by the building today and thought it would make an excellent loft conversion (image below). 500 Crawford (apartments at ballpark development) is two blocks to the east and the downtown development map shows a 28-story residential building by Marquette Land going up one block to the east. If this building converted to lofts, it would make for three consecutive blocks of residential. The ground floor of the building looks like its perfect for retail. However, there are major structural issues with the property and it was almost demolished in 2009: "It could cost $4.7 million to resolve the warehouse's structural issues, according to an August 2008 engineering report. "The problem with the [Hogan-Allnoch] building is that the brick is load-bearing brick," Ellwood says. "Unfortunately, with the settling of the earth, the building basically has been compromised. There are pretty substantial cracks going all the way from the bottom to the top." http://www.preservationnation.org/magazine/2009/todays-news/houston-spares-two-buildings.html The building is four stories and 50,000 square feet. Assuming that just the top three stories are converted to residential, the structural costs would be $125 / square foot before updating and interior improvements. My estimate of the all-in 1111 Rusk conversion is ~$230 / square foot. I'm not familiar with the costs of residential conversions but am wondering if this is a viable project if Harris County gave away the building for free and Houston provided Chapter 380 incentives.
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