Six Houston Center At 800 Caroline St.

[swtsig]

all i know is that there are a lot of folks in the know who dont think this building is going up... crescent remains adamant that it is, though.

i hope it does... it's a nice building.

[McGillicuty]

I noticed they park cars there in the evenings for Astros games, but not during business hours. Wonder why that is. They seem too far behind the other two towers.

[GovernorAggie]

Maybe one of the more economically-gifted HAIFers can answer this...does the feasibility of Five Allen Center increase the longer that Six Houston Center is delayed? Or is there no connection?

[WestUdweller]

Hi, I am new to the boards, does anyone know how tall this building is supposed to be? I am on the 33rd floor of 1 Houston Center looking down upon the surface lot which 6 Houston Center is slated for and am curious if this building will block my view? Thanks to any help

[swtsig]

Hi, I am new to the boards, does anyone know how tall this building is supposed to be? I am on the 33rd floor of 1 Houston Center looking down upon the surface lot which 6 Houston Center is slated for and am curious if this building will block my view? Thanks to any help

29, i believe.

[desirous]

Maybe one of the more economically-gifted HAIFers can answer this...does the feasibility of Five Allen Center increase the longer that Six Houston Center is delayed? Or is there no connection?

IMO, only if one books tenants that otherwise would have went to the other tower. That's pretty hard to measure.

[McGillicuty]

29, i believe.

yeah, i heard 29 above grade. you should be ok. i think the 6 HC skybridge will connect to 1 HC though.

[KinkaidAlum]

The good news is that we have two office towers already rising (Discovery and MainPlace).

I was beginning to think there wouldn't be room in this market (nationwide, not downtown) for a third office tower but I am hearing that there is a third tower in preconstruction right now through a contact I have at a local building firm. That firm doesn't deal with 6 Houston Center but they do deal with MainPlace and ______. I am hoping the _______ is 5 Allen Center!

[ricco67]

The good news is that we have two office towers already rising (Discovery and MainPlace).

I was beginning to think there wouldn't be room in this market (nationwide, not downtown) for a third office tower but I am hearing that there is a third tower in preconstruction right now through a contact I have at a local building firm. That firm doesn't deal with 6 Houston Center but they do deal with MainPlace and ______. I am hoping the _______ is 5 Allen Center!

tease!

[The Great Hizzy!]

Exactly!!

Cue the speculation, though!

[swtsig]

6 houston would be nice, but 5 allen would completely alter our skyline.... it is a beautiful building. here's hoping that's what it is.

[wernicke]

6 houston would be nice, but 5 allen would completely alter our skyline.... it is a beautiful building. here's hoping that's what it is.

You can tell 5 Allen is a beautiful building by the fuzzy, low-resolution image that was discussed here?

[Houston2010]

I think what most people have been saying, me included, is that 6HC will not get built 100% spec, like what Cresent has been saying. If a tenant comes along thats big enough and thinks Houston Center is where they want to be...then yes, 6HC will get built. But the story Cresent has been throwing out there of "we're going, regardless of leasing" is total hogwash.

And 5 Allen Center is going to break ground in 2Q09. Its a decent sized building too, but its so far away from anything, I don't understand how it changes the downtown landscape. Its practically in midtown.

[RealEstate]

I have to dispel the rumors that I've been reading on this board. From what I hear, there is ZERO chance 6HC moves forward anytime soon. That's not to say that it won't ever happen, but don't hold your breath on this one.

I base my statement on the following information:

1. I've just heard that Morgan Stanley has put the project on hold and is not moving forward-- this came from senior people involved in the project. More specifically, lenders are no longer married to this project AND construction personnel that had been staffed to this project have now been placed on others.
   
2. In the most recent quarter, Morgan Stanley took a $150m writedown on its investment in Crescent. MS is actively dumping all of the trophy Crescent properties in a bid to raise cash- they currently have Greenway Plaza, Post Oak Central and One Briarlake Plaza on the block and have already sold 5 Post Oak Park to Shorenstein. They need the cash. They need the cash NOW!
   
3. Wall Street firms are in the midst of a deepening credit crisis and MS is thus highly unlikely to take on a large scale spec project in this environment.
   
4. By breaking ground on Main Place and Discovery Tower several months ago, Hines and Crow have already beat them to the punch and they have lost the first mover advantage. Now is not the time that MS will agree to be the last entrant into the spec CBD market.
   
5. There has been no preleasing activity to date. From what I understand, this project will only move forward in the very near future if there is a big chunk of space is preleased. Anything is possible, but Houston tenants tend to plan 12 months out and they will thus likely gravitate toward Main Place or Discovery Tower. Thus, barring an existing HC tenant preleasing space, this project is on ice.
   

I hate to be the bearer of bad news, but this one won't get done ... at least not soon.

[swtsig]

I think what most people have been saying, me included, is that 6HC will not get built 100% spec, like what Cresent has been saying. If a tenant comes along thats big enough and thinks Houston Center is where they want to be...then yes, 6HC will get built. But the story Cresent has been throwing out there of "we're going, regardless of leasing" is total hogwash.

And 5 Allen Center is going to break ground in 2Q09. Its a decent sized building too, but its so far away from anything, I don't understand how it changes the downtown landscape. Its practically in midtown.

agree with you on 6HC.

but you dont see how a sleek 50-story tower right at the "front" of downtown will alter our skyline? this thing will be front row ((((slightly)))) offcenter.... it will battle heritage plaza for prominence when viewing from the west, which is obviously the most recognized skyline view of our city.

imo, of course.

[KinkaidAlum]

I left it blank (_________) because they wouldn't tell me which building it was... They simply said we are building Main Place but we have a second project downtown that is in preconstruction. I know this builder isn't involved in 6 Houston Center and I know that the Discovery Tower is past that stage. So, it is either 5 Allen Center or a project that has flown completely under the radar to everyone on this board; myself included.

[Mister X]

Could they have meant that other Hines Tower supposedly going up 2 blocks north of Main Place?

Edited July 18, 2008 by Mister X

[GovernorAggie]

And 5 Allen Center is going to break ground in 2Q09. Its a decent sized building too, but its so far away from anything, I don't understand how it changes the downtown landscape. Its practically in midtown.

I don't think it's practically in Midtown. Unless Heritage Tower and 3 Allen are considered Midtown. This tower is very much downtown and like swtsig said, would dramatically alter all the western views of the skyline, including northwest from the I-45/I-10 interchange, due west from I-10, Memorial, and Allen, and southwest from 59.

[McGillicuty]

I have to dispel the rumors that I've been reading on this board. From what I hear, there is ZERO chance 6HC moves forward anytime soon. That's not to say that it won't ever happen, but don't hold your breath on this one.

I base my statement on the following information:

1. I've just heard that Morgan Stanley has put the project on hold and is not moving forward-- this came from senior people involved in the project. More specifically, lenders are no longer married to this project AND construction personnel that had been staffed to this project have now been placed on others.
   
2. In the most recent quarter, Morgan Stanley took a $150m writedown on its investment in Crescent. MS is actively dumping all of the trophy Crescent properties in a bid to raise cash- they currently have Greenway Plaza, Post Oak Central and One Briarlake Plaza on the block and have already sold 5 Post Oak Park to Shorenstein. They need the cash. They need the cash NOW!
   
3. Wall Street firms are in the midst of a deepening credit crisis and MS is thus highly unlikely to take on a large scale spec project in this environment.
   
4. By breaking ground on Main Place and Discovery Tower several months ago, Hines and Crow have already beat them to the punch and they have lost the first mover advantage. Now is not the time that MS will agree to be the last entrant into the spec CBD market.
   
5. There has been no preleasing activity to date. From what I understand, this project will only move forward in the very near future if there is a big chunk of space is preleased. Anything is possible, but Houston tenants tend to plan 12 months out and they will thus likely gravitate toward Main Place or Discovery Tower. Thus, barring an existing HC tenant preleasing space, this project is on ice.
   

I hate to be the bearer of bad news, but this one won't get done ... at least not soon.

Just you wait, you'll be eating crow before too long.

[lockmat]

Just you wait, you'll be eating crow before too long.

Is that an educated threat or just wishful thinking?

[McGillicuty]

Is that an educated threat or just wishful thinking?

Educated Thinking

[RealEstate]

Just you wait, you'll be eating crow before too long.

Sir, based on the lack of authority evidenced in your prior posts, it is you who is presently eating the proverbial "crow."

On Monday, January 14th, 2008 @ 3:14pm, you wrote "I heard 6 Houston Center will begin Feb 1 2008 and finish before the MainPlace and Discovery Tower"

On Friday, January 18th, 2008 @ 11:58am you wrote "Crescent is breaking ground on 6 Houston Center in 30 days. "

On Tuesday, February 19th, 2008 @ 4:41pm you wrote "Groundbreaking March 6th. "

On Monday, May 19th, 2008 @ 1:57pm you wrote "it is happening for sure."

Maybe it's time for you to pack up shop and try another board-- perhaps the crow eaters community?

[ricco67]

Sir, based on the lack of authority evidenced in your prior posts, it is you who is presently eating the proverbial "crow."

On Monday, January 14th, 2008 @ 3:14pm, you wrote "I heard 6 Houston Center will begin Feb 1 2008 and finish before the MainPlace and Discovery Tower"

On Friday, January 18th, 2008 @ 11:58am you wrote "Crescent is breaking ground on 6 Houston Center in 30 days. "

On Tuesday, February 19th, 2008 @ 4:41pm you wrote "Groundbreaking March 6th. "

On Monday, May 19th, 2008 @ 1:57pm you wrote "it is happening for sure."

Maybe it's time for you to pack up shop and try another board-- perhaps the crow eaters community?

ouch!

FIGHT!

[desirous]

Educated Thinking

Gee, what high school did you go to? HISD isn't that bad.

[Trae]

Sir, based on the lack of authority evidenced in your prior posts, it is you who is presently eating the proverbial "crow."

On Monday, January 14th, 2008 @ 3:14pm, you wrote "I heard 6 Houston Center will begin Feb 1 2008 and finish before the MainPlace and Discovery Tower"

On Friday, January 18th, 2008 @ 11:58am you wrote "Crescent is breaking ground on 6 Houston Center in 30 days. "

On Tuesday, February 19th, 2008 @ 4:41pm you wrote "Groundbreaking March 6th. "

On Monday, May 19th, 2008 @ 1:57pm you wrote "it is happening for sure."

Maybe it's time for you to pack up shop and try another board-- perhaps the crow eaters community?

Bravo!

[McGillicuty]

Bravo!

Just you wait. All I can say.

[Houston2010]

Clearly - this guy either works for Crescent or the architect or another part of the team that brought forth yet another 90 degree version of the same 20-30 story box. In the past, he's obviously bought into the Crescent continued "We're about to break ground guys!" marketing pitch, despite the real message from Crescent being loud and clear (i.e. "are you crazy? we're not doing this building until a tenant comes along that takes up the whole thing!").

But now, rumors are swirling that they landed a big tenant who loves the mid rise box. And now Crescent will say "I told you we were breaking ground!"

[McGillicuty]

Clearly - this guy either works for Crescent or the architect or another part of the team that brought forth yet another 90 degree version of the same 20-30 story box. In the past, he's obviously bought into the Crescent continued "We're about to break ground guys!" marketing pitch, despite the real message from Crescent being loud and clear (i.e. "are you crazy? we're not doing this building until a tenant comes along that takes up the whole thing!").

But now, rumors are swirling that they landed a big tenant who loves the mid rise box. And now Crescent will say "I told you we were breaking ground!"

No, just a Monday morning quarterback with no skin in the game, just like everyone else on here.

[swtsig]

Clearly - this guy either works for Crescent or the architect or another part of the team that brought forth yet another 90 degree version of the same 20-30 story box. In the past, he's obviously bought into the Crescent continued "We're about to break ground guys!" marketing pitch, despite the real message from Crescent being loud and clear (i.e. "are you crazy? we're not doing this building until a tenant comes along that takes up the whole thing!").

But now, rumors are swirling that they landed a big tenant who loves the mid rise box. And now Crescent will say "I told you we were breaking ground!"

Good for them... it will be a nice addition to downtown. now if brookfield can find someone for 5AC then we'd be talking.

[citizen4rmptown]

its been more than a week,

anybody heard anything?