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Found 13 results

  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. http://www.arch-ive.org/houston/texas1311/hoganallnoch.jpg
  2. 9-Story hotel going propsed at the corner of Lehall Street & Bertner Ave in the Texas Medical Center. There's a rendering on the current Planning Commission Agenda.
  3. 123,306 SF 9 Levels 221 Rooms Anticipated start date of December 2020 Corner of Leeland St. and Crawford St. 1540 Leeland St. Houston, TX 77002
  4. A Hard Rock Hotel & Residences is proposed for the southern end of Uptown, Sage Road & South Rice Avenue (3500 Sage Rd.) SubdivisionPlatPDF_Hard Rock Hotels And Condominiums-Sheet 1 - PP.pdf
  5. Houston Business Journal From the April 11, 2005 print edition Atlanta condo converter makes buy near Medical Center Jennifer Dawson An Atlanta-based firm that specializes in converting apartments into condominiums has completed the first of three planned deals involving a total investment of $86 million in Houston properties. Choice Condominiums spent $24 million last month to buy the Braeswood Park apartments from Denver-based Archstone Smith. The property is located near Main and South Braeswood, near the Texas Medical Center. Choice will spend $2.5 million to renovate the apartments and convert them into condos. The condo converter, which acquires properties through various affiliated companies, is close to buying two additional complexes for $30 million each, says Ron Lozoff, member/manager of Choice Condominiums. Lozoff would not disclose the properties' names, but acknowledges that Choice Condominiums has another 210-unit property under contract in the Medical Center area. The new four-story building that sits atop a two-story parking garage will be purchased once construction is finished in August, Lozoff says. One industry expert speculates that the Texas Medical Center property in play is a project from the Dinerstein Cos. that has not yet been announced. Jack Dinerstein, an executive with the Houston-based apartment development and management company, confirms construction of the new property, but will not say whether it is being purchased for conversion. The Valencia is coming out of the ground at 1711 Old Spanish Trail. Dinerstein believes the high-end apartment units -- located across the street from Woman's Hospital of Texas -- will be popular because of their proximity to Medical Center institutions and the light rail. "We're just hundreds of feet from the rail system," Dinerstein says. "We have tremendous visibility. We're 75 feet tall. We have wonderful views of the Medical Center." Founded in 1955, the family-owned Dinerstein Cos. operates apartment complexes in 27 states, employs more than 400 people and is considered to be the largest builder of off-campus student housing in the country. Meanwhile, Choice Condominiums also plans to complete a deal in May to purchase an unnamed 27-story tower in the Galleria area that contains close to 100 units, Lozoff says. Industry speculation points to The Bristol on McCue as the property that Choice Condominiums is buying. Located at 3350 McCue just south of Richmond, The Bristol was originally constructed as condominiums, but now operates as a full-service apartment building. The 96-unit Bristol was built in 1983 and reportedly has a high occupancy level. Making a choice Apartment complexes on the sales block are attracting quite a bit of attention. A few condo converters are competing for the properties, but most potential buyers are institutions looking to place investment capital. David Mitchell of Apartment Realty Advisors, which represented Archstone Smith in the sale of Braeswood Park, says 30 parties bid on that multifamily complex. "There is a lot of institutional capital chasing real estate deals in the Medical Center," Mitchell says. "That's why we received so many offers." Choice Condominiums was the highest of the bidders -- 10 percent to 15 percent of whom were interested in converting the units to condos, Mitchell says. "Condo converters usually offer a premium versus typical apartment owners," says Mitchell, who brokered the deal with colleague David Oelfke. Butch Novy of Houston-based Novy Investments Inc. represented Choice Condominiums on the sale, which took about six months to complete. Apartment sales take longer and are more complicated when condo conversion is in the works, Mitchell says. The Braeswood Park complex consists of 240 units built in 1985 that will be converted into condominiums. Another 36 units were added in 1999, but deed restrictions prevent those from being converted to condos until 2009. Lozoff plans to sell off those apartment units as a group. Choice Condominiums plans to begin selling units in Braeswood Park in two months for prices between $100,000 and $160,000, Lozoff says. The firm was attracted to the property due to prior accomplishments in the area. "It's directly across the street from City Plaza, where we had great success," Lozoff says. "We really understand and know the Medical Center." The new $86 million local investment does not include the firm's property at 2400 McCue in the Galleria area. Choice Condominiums purchased the 200-unit complex last September for more than $30 million. jdawson@bizjournals.com
  6. There's finally some new lakefront development happening in the Bay Area! I've long thought this area was primed to densify and become a fun waterfront area so long as some higher paying jobs came to the area (which they are thanks to the commercial space companies launching and growing around NASA Johnson). I hope to see the entire waterfront redevelop and densify with apartments, condos, and entertainment uses! Taylor Lake Village Developments Single family home and condo developments with restaurant and retail on the north and south side of NASA Parkway in Taylor Lake Village and El Lago. $90 million development. Hopefully it'll push some redevelopment of other lakefront properties. Residences on Clear Lake Two 5-floor buildings with 20 condos each next to the Hilton on NASA Parkway. Seabrook Planned Unit Development Two hotels, conference center, apartment complex, restaurant and commercial space all built over a parking podium on NASA Parkway (Near Sam's Boat). One of the hotels is a Compass by Margaritaville. Beacon Island Beacon Island development is proceeding. Currently single family homes and an apartment complex are under construction.
  7. Seabrook Town Center "...The Seabrook Town Center, just north of the intersection of State Highway 146 and Repsdorph Road, has been in the works for some years, but finally all puzzle pieces seem to be in place for the project to become a reality. Houston-based HS Development Group, typically focused on multifamily and student housing, acquired the 19.5-acre property earlier this month from Santa Barbara, California-based Pacific Ridge. HS took over the contract from Houston-based WMF Investments in February, HS Development Group COO Steve Helm said... ...The plan includes a four-story, 322-unit apartment complex and 19,000 square feet of retail and restaurants surrounding a plaza with event lawn as well as some office space. “We’ll have a stage. There'll be a turf surface for kids to play ball or whatever on and four … pad sites,” Helm said. “They could be restaurant or retail pads out front along (Highway) 146.” The 19.5-acre development will be called The Edge at Seabrook Town Centre, the spelling of “center” notably different from the overall Seabrook Town Center, which includes a few more acres to the south..."
  8. Suburban-style hotel coming to the TMC, meh. http://www.arch-con.com/division/hilton-garden-innhome2/
  9. http://newregionalplanning.com/upload/property4/610_flyer_email.pdf It's two blocks west of river oaks district and a few north of Westheimer
  10. A dual badge hotel is planned for Crawford between Rusk and Capitol. Hampton Inn with 168 rooms and Homewood Suites with 132 rooms. 14 stories. Plan to break ground early next year and open in September 2015. https://www.google.com/search?q=http%3A%2F%2Fwww.houstonchronicle.com%2Fbusiness%2Freal-estate%2Farticle%2FValue-priced-hotels-planned-for-Houston-4613401.php&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
  11. Drove by the Hilton Americas and I noticed a new sign by that old Ballroom basically it said, "Coming soon: Residential/Retail/Restaurant. Was wondering if anything was set in stone. For those wondering: It's bordered by Caroline, Dallas, Lamar, and Crawford.
  12. HBJ reports that a new set of twins are in the works for Uptown Houston. We have the 40-story Four Leaf Towers; but in the works now is a set of twins 35 stories tall. Any of you guys have renderings? This will definitely impact Uptown Houston's already cool skyline. I wanna see ......
  13. This is on 311 Pierce "The Edge Condominiums, a 6 floor midrise building, 93 Unit, new construction Condominium Building, at the Edge of Downtown Houston. Near vibrant midtown shops, the Trolley, restaurants and hot spots. Construction to begin fall of 2004, occupancy in summer of 2005."
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