Hines

[lockmat]

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:

Hines raised the bar by showing that quality and financial success can be mutually attainable.

He was one of the first developers to hire world-famous architects, believing tenants would flock to top-quality buildings, even in a down market.

And architects appreciated his vision.

"Many developers just want to tell the architect what they want," said Gyo Obata, a founding partner of HOK, the company that designed the Galleria. ''I think he's one of the few developers that really listens to the architect."

That's not to say he's not a demanding client.

Hines said he rejected Philip Johnson's first four designs for Post Oak Central, an office complex on Post Oak, because "they didn't make sense economically and real estatewise."

"We like problem areas because other people will normally try to avoid those and we'll try to figure it out," Hines said.

I wonder what the best "probelm area" is prime for taking on right now?

Hines' legacy includes setting a standard of quality. He's obsessive over small details, such as the weight of a door, the feel of a handle or the look of a sign.

Breath of fresh air.

He's pleased with the way Houston has developed but thinks more housing would be good for downtown. "I think dead cities at night are dangerous and cause all kinds of problems and lead to rapid deterioration," he said.

Does anyone know if he's had any recent projects here or if he's currently got one going on?

Edited June 11, 2007 by lockmat

[TexasArchitect]

Gerald Hines looks weird without the 'D' Gerald D Hines, lol

anyway, he's a very respectful figure or at least imo he is. the very first firm i used to work for, we did work for him all the time. actually, he was one of our biggest clients. you can check the Kendall-Heaton website and see if he's doing anything with them. i'll ask some of my friends there and see if they are currenlty doing anything with him and pm u the info.

[Houston19514]

According to his website, he currently has nothing "under development" in Houston. Three projects are listed as "under construction": Shell Woodcreek Campus expansion; Sysco Corporate Offices; and Vertias DGC North Building Addition. (of course, there may be many they are working on under the radar at the moment, such as the oft-rumored downtown project.)

[lockmat]

For those familiar, what's one word or a phrase that captures his arhitectual style?

[TxDave]

For those familiar, what's one word or a phrase that captures his arhitectual style?

That is an interesting question, but I don't think you can really capture Hines' style except to say that he had it (style!), at least in Houston.

His development company hired the architects that designed and built his landmarks in the city, and those architects were generally world class.

The company now has an impressive resume around the world, but I think its "style" remains the spectacular accomplishments in Houston.

Other places may be more hit or miss. In Dallas the main Hines project was the Galleria which was mostly an 80's update of the Houston original - still nice, but not spectacular. Although, meanwhile there are many other great successes in Europe and Asia.

[texas911]

I agree, he wasn't an architect but he knew great architecture. Wish he was still doing big projects in Houston, but am proud that he is from here.

[shasta]

He's pleased with the way Houston has developed but thinks more housing would be good for downtown. "I think dead cities at night are dangerous and cause all kinds of problems and lead to rapid deterioration," he said.

Anyone think this might be a tease as to how the new 47 story downtown building will be designed?

Edited July 16, 2007 by shasta

[nmainguy]

For those familiar, what's one word or a phrase that captures his arhitectual style?

Currently I would say the company's style in Houston would be their Main Street garage. I'm not sure how much he's involved with the company any longer even though he owns the majority of it. You would probably have to direct that question to his son.

[editor]

HARVARD DESIGN SCHOOL AWARDS FIRST EVER

VISIONARY LEADERSHIP IN REAL ESTATE DEVELOPMENT AWARD

TO GERALD D. HINES

(BOSTON) – The Harvard Design School announced today that it has awarded its first ever Visionary Leadership in Real Estate Award to Gerald D. Hines, founder and chairman of the international real estate firm that bears his name. The award was established to honor the lifetime accomplishments of extraordinary leaders in the real estate industry and their contributions to real estate education at Harvard University and the built environment at large.

Mr. Hines was nominated for the award by Richard Peiser, who is the Michael D. Spear Professor in Real Estate Development at Harvard. The International Advisory Board of the Real Estate Academic Initiative (REAI) enthusiastically approved the nomination of Mr. Hines for this honor. The REAI supports interdisciplinary research at Harvard in the field of real estate and urban development, and helps build the community of faculty, students and alumni who are active in the real estate industry. The five primary schools that participate in the initiative are the Business School, Design School, Kennedy School of Government, Harvard Law School and the Faculty of Arts and Sciences, which includes the undergraduate college.

To celebrate the award, a student reception at Harvard’s Knafel Building was held. In attendance were real estate organizations from both Harvard and MIT. Students were able to visit one-on-one with Mr. Hines, and received a copy of his biography “Hines: A Legacy of Quality in the Built Environment.” Following the reception was a fireside-chat forum in the Sackler Auditorium, which was open to the public. Professor Peiser prompted Mr. Hines to discuss his career, leadership in bringing great architecture into commercial development, leadership in sustainable development, and also building one of the most successful international real estate organizations in the world. Mr. Hines’ son, Jeff Hines, who is President and CEO of the firm, joined his father on stage and shared memories about his early days working in the Hines organization, taking over the leadership with his father still being a very strong presence, and the addition of fund investment to development in the company’s focus.

As a close to the event, Mr. Hines was presented a crystal sculpture by Joe O’Connor, the first chairman of the REAI and a personal friend. Dean of the Harvard Graduate School of Design, Mohsen Mostafavi, presented Mr. Hines with a proclamation on behalf of the University which read: “In recognition of his exceptional contributions to higher education in real estate, his innovations in office buildings and mixed-use development, his commitment to design excellence, his inspiration to generations of real estate professionals, both in his own company and in other organizations, and his unique impact on the built environment throughout the world.”

[editor]

Houston real estate legend Gerald D. Hines (think "Williams Tower" and the "University of Houston School of Architecture" has been given an award by the Harvard School of Design.

Read more about it here.

[TJones]

Could we get a moderator to merge this thread please ?!? Geez, Louise !

[editor]

This isn't happening in Houston, but it's a Houston company and a man closely associated with Houston, so I thought it would be of interest.

--------------------------

Alumnus completes $11 million drive for Purdue industry-oriented laboratory

WEST LAFAYETTE, Ind. - Purdue University announced Monday (Sept. 15) a $2 million gift from mechanical engineering alumnus Gerald D. Hines, completing a drive to raise $11 million for a project to expand the university's Ray W. Herrick Laboratories.

The labs - administered by the School of Mechanical Engineering - are a hub of industry-oriented research in areas ranging from advanced automotive technologies to "smart" buildings.

"The Herrick Labs has an impressive legacy of balancing the needs of industry, academics and basic research," said Purdue President France A. C

[editor]

This is mostly a Chicago story, but since it involves one of Houston's biggest developers and reflects the general state of he economy I thought it would be of interest.

Here's the story: Hines has been talking for a couple of years about building a new tower above the Amtrak and Metra tracks next to the Chicago River. But nothing has happened for so long that a lot of people assumed it was dead.

Now we find out from Crain's that the problem is that Hines can't get any banks to lend it money for the new tower, even though (and here's the kicker) Hines already has two big anchor tenants lined up to occupy the place.

Full story here

It's one thing not to be able to get financing for a speculative tower, but this one is on one of only three empty spots left along the river, and has people eager to move in before it's even built. Pretty sad.

Oh, here's a pic:

[Subdude]

Cool-looking building though. The story certainly isn't surprising. If anything you would expect to hear even more stories like these, but developers presumably don't want to publicize it when they can't get financing.

[TheNiche]

Cool-looking building though. The story certainly isn't surprising. If anything you would expect to hear even more stories like these, but developers presumably don't want to publicize it when they can't get financing.

Even in Houston, it just seems like construction timelines are moving sideways. There are very few large new commercial real estate projects still on the radar for a 2009 groundbreaking.

2010 could be a big year, though, if the capital markets improve.

[Jeebus]

Indeed that is a cool looking design, but I swear I've seen it somewhere before..

Oh yeah.. McDonald's Apple Pie:

(Just turn it upright and open the flaps..)

[rbarz]

Wow, its 60% leased and he can't get a loan...

In Houston, the residential projects Sonoma and The Turnberry are side-lined because there has not been enough pre-sold.

[lockmat]

Indeed that is a cool looking design, but I swear I've seen it somewhere before..

(Just turn it upright and open the flaps..)

We talked about it briefly when it was first announced

http://www.houstonarchitecture.info/haif/i...showtopic=12272

[jgriff]

Even in Houston, it just seems like construction timelines are moving sideways. There are very few large new commercial real estate projects still on the radar for a 2009 groundbreaking.

2010 could be a big year, though, if the capital markets improve.

I hope you're right Niche. What are you basing this on though? From what I'm hearing the petrochem industry in Houston is going to almost completely gone in 2010. Won't this put a big crimp in the Houston economy?

[TheNiche]

I hope you're right Niche. What are you basing this on though? From what I'm hearing the petrochem industry in Houston is going to almost completely gone in 2010. Won't this put a big crimp in the Houston economy?

The petrochem industry isn't going to disappear. It's going to stop growing and likely contract some. But E&P firms (upstream) were much more cautious in the last several years than they had been in the 70's and early 80's. They didn't hire or expand nearly as much in this cycle, they didn't speculatively lease a glut of excess office space, and a lot of them have hedged positions to keep speculative projects financially feasible. Refiners (downstream) have expanded plant capacity somewhat in the last several years but have only modestly participated in the increase of regional employment. They may seek to trim the fat a little, but that's a slow bleed as they try to find ways to increase automation and otherwise become more capital-intensive.

Office demand is going to be off for a year or so, and top rents are going to have to come down. It'll be a tenant's market again, possibly well into 2011. Still, we've seen worse and we don't have a glut of empty sublease space (yet). Since large office projects can take up to two years to complete, players like Hines and Trammell Crow will probably try to break ground before the market is prime again. This is part of why I say that 2010 could be a good year, is because they're building for 2012.

Industrial demand still seems to be holding up, but there are a couple submarkets with excessive vacancy and too much under construction; there was an expectation that container terminals would justify many millions of new square feet out in Deer Park, La Porte, and Baytown--and they do, only not all at once. The strengthening of the US Dollar hasn't helped those areas (yet), and it won't in the short term. However it does encourage increased export activity, and that may help us if investors believe that the strong Dollar is more permanent than I personally think it is.

But the big shake-out in commercial real estate is going to be in the retail sector. Way too many unanchored strip centers were developed in neighborhoods where the demographics are still filling in. Developers' projections did not account for such a precipitous decline in new housing starts or closings, especially in lower/middle-class suburban areas.

Houston's 2009 experience is not going to be 1987, or even necessarily as bad as 2001, where we had Enron (and other scandals), TS Allison, the Tech Bust, relatively low energy prices, and a national recession, practically all at once. Most observers could see a light at the end of this tunnel (before Houston even really entered it) and a clear path back to growth.

The caveat, of course, is that the financial markets first need to become functional and efficient.

Edited December 8, 2008 by TheNiche

[jgriff]

The caveat, of course, is that the financial markets first need to become functional and efficient.

I hope you're right Niche. Everyone in downstream is in panic mode. I'm seeing staffing levels at about 15% of what they are now by late 2009. Huge projects are being canceled or delayed and there are zero new ones getting started. The backlog of projects that were started before the financial crisis will last until late 2009. It will start getting really bad in early 2010 unless something changes very quickly. I don't think we'll be seeing any new cranes going up in the Energy Corridor for the next few years.

[swtsig]

I hope you're right Niche. What are you basing this on though? From what I'm hearing the petrochem industry in Houston is going to almost completely gone in 2010. Won't this put a big crimp in the Houston economy?

please tell me you're speaking in hyperbole.

please.

[TheNiche]

I hope you're right Niche. Everyone in downstream is in panic mode. I'm seeing staffing levels at about 15% of what they are now by late 2009. Huge projects are being canceled or delayed and there are zero new ones getting started. The backlog of projects that were started before the financial crisis will last until late 2009. It will start getting really bad in early 2010 unless something changes very quickly. I don't think we'll be seeing any new cranes going up in the Energy Corridor for the next few years.

I hope I'm right too. And you're probably right that the Energy Corridor is getting overbuilt quick. But I think that that was going to happen with or without the decline in energy prices.

Anyone got a good source of 'at a glance' data on refiner margins or crack spreads?

[jgriff]

please tell me you're speaking in hyperbole.

please.

No, I'm not. All the people that wanted lower gas prices have gotten what they wanted. Unfortunatley that is really bad for Houston. There are no downstream projects in the pipeline. Unless the economy turns around quickly the West side of Houston is in for some trouble. The days of 10% raises every year are over. I think I'll be lucky to get any raise at all for the next two years if I can even keep my job.

[CandW]

I agree with Niche...we are seeing the same things. The big difference between the Houston economy and the national economy is that we had the petrochem industry to stave off the effects of the housing debacle. Slower growth was learned from the 80's, not just by the petrochem industry but by the housing developers. They tried to keep in check with the growth as closely as they could. The retial sector is in for some major troubles, specifically in the suburban market areas. Yesterday mom and dad couldn't spell developer and then with cheap money and seeing the neighborhoods encroaching on the family homestead someone gave them the idea that their corner lot was main and main in suburbia land. Not the case at all. They took the "build it, they will come" attitude. Slow down in the housing market and next thing you know, free rent is being offered in the mom and pop developers centers with noone able to secure financing to expand or develop any new concepts. The strength in the overall Houston economy is still there, but like Niche said, we need the financial markets to correct and start moving construction dollars back into the developers to keep moving forward. I am optimistic that 2nd half 2009 we will see some rapid movement forward on many new projects. I too see 2010 being a solid year for the commercial real estate community as a whole. Housing and retail will be the slowest moving forward. Don't put too much weight into what the national media is saying as it has not been that bad in Houston...overall.

[editor]

More bad news for this Hines project.

http://www.chicagorealestatedaily.com/cgi-...ews.pl?id=33366

Crain's says the lead anchor has bailed because Hines couldn't get financing by deadline. Hines had TWO big tenants lined up for this project and far more commitments than are usually necessary for a tower this size.

So where's the money? Where's the trillion dollars in tax dollars that the banks are supposed to be lending? Oh, right -- they're going to bonuses to the people who ran the companies into the ground for jobs well done.

Commentary from HAIF's sister site, the Chicago Architecture Blog: http://blog.chicagoarchitecture.info/2009/...caled-back.html

[editor]

HINES ANNOUNCES PROMOTIONS IN HOUSTON

(HOUSTON) - The Houston office of Hines, the international real estate firm, is pleased to announce the recent promotions of Jerry Lea and Mark Pojar in the firm's corporate office in Williams Tower.

Jerry Lea has been promoted from Senior Vice President - Conceptual Construction to Executive Vice President - Conceptual Construction. Since joining Hines in 1981, Lea has been responsible for consultants selection and contract negotiation, budgeting, scheduling, management of consultants' designs, and contractor and subcontractor bidding and negotiations for 150 million square feet of commercial, office buildings, retail complexes, hotels, sports facilities, clean rooms, performing arts theaters and museums.

Mark Pojar has been promoted from Pre-construction Manager to Vice President -Conceptual Construction. Pojar joined the firm in 2007 and since then, has been responsible for the MEP pre-construction services for projects including: Takeda Pharmaceuticals North America Inc. in Deerfield, IL; Dr. P. Phillips Performing Arts Center in Orlando, FL; Skyview Corporate Park and Horizon Center in Gurgaon, India; and the ASD project in São Paulo, Brazil. Prior to joining Hines, Pojar was an Engineering Manager with Alvine Engineering for eight years. While with that firm, he worked on numerous Hines projects such as Union Pacific Headquarters in Omaha, NE; One South Dearborn and 300 North LaSalle in Chicago; and 24th at Camelback II in Phoenix, AZ.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,111 properties representing more than 451 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $22.2 billion, Hines is one of the largest real estate organizations in the world.

[Highrise Tower]

Love this company.

 

I was reading their financials the other day.. was in heaven! 

 

They have a new project in Paris’ CBD that amazes me. I'll post photos later

 

Cheers!

 

[Highrise Tower]

HEKLA - Paris-La Défense - Properties – Hines

https://www.hines.com/properties/hekla-paris-la-dfense

 

 

[Highrise Tower]