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GreenStreet: Mixed-Use Development At 1201 Fannin St.


MontroseNeighborhoodCafe

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My prediction: a project will happen but they're going to scale the scope of the project back to something more manageable (i.e., no residential component). :(

High land values prevent development at a mediocre scale. If you'll recall, their latest renderings actually ADDED residential units. I anticipated as much. Not having a third tower was just insane.

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It's official, the Houston Pavilions is cancelled.

OK! Trae. I have a very weak heart and am extremely gullible. don't play with me :D

I know the setbacks are very frustrating and i wouldn't be surprised if the groundbreaking was set back again. I think Semiipro did a Semi 180 on us. At first he was saying the project wouldn't happen at all. Now he's saying groundbreaking will happen sometime next year. I'd say he's coming around !

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I told y'all what's going to happen. I'm not being negative. I'm being real. The earlist groundbreaking you might see is probably November, if not, 1st quarter 07.

Semipro, I think you've once again locked up the "most stupid post of the month" award. Very, very impressive. <_<

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i don't know, i'm starting to get a little nervous myself. I just finished browsing on the Houston Pavilions site and noticed that the Project Timeline link had all the information taken out of it as well as the Contact information link. It used to have the e-mail adress posted as well as the phone # and adress info. I'm hoping that this isn't a BAD sign. :(

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i don't know, i'm starting to get a little nervous myself. I just finished browsing on the Houston Pavilions site and noticed that the Project Timeline link had all the information taken out of it as well as the Contact information link. It used to have the e-mail adress posted as well as the phone # and adress info. I'm hoping that this isn't a BAD sign. :(

It could be that too many people were asking about the project and they weren't getting any work done.

I really don't know, I'm just sitting back and waiting. If this doesn't take off in mid Oct we still have the DT Park to look foward to(also scheduled for mid Oct)it seems like it's coming along on time :)

Edited by Houstonian in Iraq
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It could be that too many people were asking about the project and they weren't getting any work done.

I really don't know, I'm just sitting back and waiting. If this doesn't take off in mid Oct we still have the DT Park to look foward to(also scheduled for mid Oct)it seems like it's coming along on time :)

With all the new condos coming up around that lot, something will have to show up, a typical strip center won't cut it for long.

I am crossing my fingers too. :)

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I'll throw in my own bit of second-hand information.....

I know the family that owns the Josephine's Italian Restaurant, near South Texas College of Law (by the "back", non-Main Street, side of the Pavillions). They were told that groundbreaking was going to be conducted in late October, just as the website apparently states.

I forgot who was holding the lottery for guessing the date for this? What is the pot up to these days?

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  • 2 weeks later...
I was right all along. But, every time I get on this thread the dates keeps on backing up. First, y'all said this spring, October, now it's November. Next, someone going to say ground breaking in 2007.

This really is a laughing matter.

Semipro, your always right. I think it's because of your keen insight. Oh, and I think it's hilarious. :P

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My take: either it will get built or not. Bottom line is Houston will not drop into the abyss if it doesn't. But I believe HP will develop and be the catalyst that Houston needs. I'm positive great things are in store for our downtown. Especially since we have vacancy rates that are getting very, very low downtown. B)

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My take: either it will get built or not. Bottom line is Houston will not drop into the abyss if it doesn't. But I believe HP will develop and be the catalyst that Houston needs. I'm positive great things are in store for our downtown. Especially since we have vacancy rates that are getting very, very low downtown. B)

I'm not sure I understand the discussions as to if the project will be built or not. Didn't they already purchase the land and already started signing businesses into the project? It probably won't be built on schedule, but wouldn't the developers lose a lot of money at this point if they closed the project down?

It will probably be delayed a few more times, but it's gonna get done.

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I'm not sure I understand the discussions as to if the project will be built or not. Didn't they already purchase the land and already started signing businesses into the project? It probably won't be built on schedule, but wouldn't the developers lose a lot of money at this point if they closed the project down?

It will probably be delayed a few more times, but it's gonna get done.

I would have to agree with you. Too much money exchanged hands already. They will build this ... even tho delays are inevitable because of whatever.....

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My take: either it will get built or not. Bottom line is Houston will not drop into the abyss if it doesn't. But I believe HP will develop and be the catalyst that Houston needs. I'm positive great things are in store for our downtown. Especially since we have vacancy rates that are getting very, very low downtown. B)

Just to be clear, 15% office vacancy isn't "very, very low". It is moderate. Healthy, but not booming. Just well-off enough to safely support the relatively small office component planned for HP.

If things keep improving, though, and rents keep rising, we're going to start seeing a few more office towers here and there. I personally think that 12.5% is the magic number, but that anything below 10% would set off multiple simultaneous projects.

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Houston Pavilions lands $140M construction financing

Houston Business Journal - 11:09 AM CDT Mondayby Jennifer DawsonHouston Business Journal

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Developers of the Houston Pavilions downtown mixed-use project have secured $140 million in construction financing from North Houston Bank.

The transaction makes it possible for construction to begin on the ambitious three-block development bounded by Dallas, Polk, Main and Caroline. Groundbreaking is set for Nov. 6.

It will take two years to build the $200 million project, which will contain roughly 800,000 square feet of retail, office and high-rise residential space.

William Denton and Geoffrey Jones of Houston Pavilions LP are the developers behind the project, which has already secured the House of Blues and Lucky Strike bowling lanes as tenants.

Jones says it was important to use a local bank on the project, which has been supported by North Houston Bank since it was conceived in July 2003. North Houston Bank is the Houston-based banking affiliate of FBOP Corp.

Mark Sixour, a managing director in the Houston office of Holliday Fenoglio Fowler LP, arranged the loan.

In addition to bank financing, the Houston Pavilions has lined up an $8.8 million development grant from the City of Houston, $5.5 million from Harris County, $1 million from the Downtown District and an undisclosed amount from partner Houston Catalyst LP. The project will be part of the Main Street/Market Square Tax Increment Reinvestment Zone.

Hellmuth, Obata + Kassabaum Inc. is the architect on the Houston Pavilions. Houston-based D.E. Harvey Builders will serve as general contractor for the project. Construction activities will be coordinated and supervised by the Wells Partnership of Denver.

http://www.bizjournals.com/houston/stories...html?from_rss=1

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Well, it's always good to see something in print, with tangible dates backed up by realistic timelines than speculation, panic and BS. Hopefully it will be a smooth construction process with quality build.

This is intersting because it was a pretty good night traffic wise on Saturday and it made me think about the potential impact of the Pavillions and the development slated to the east of there. With northern end traffic being a weekend/late night type thing, it would be great to see HP and the new park development create more of a sense of community that would make that part of DT a daily thing more than just a nightly thing.

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I recieved an e-mail today from a rep from HP. She said their were a zillion complications setting the date back several times, but now financing is set and the ground breaking will be Nov. 6th. It will be completed for the shopping season in Oct.'08. She gave me a link to the Chron. article from Sat, I must have over looked it reading the paper. The article stated an outside company could add two residential towers.

Personaly I feel 95% sure trucks will be on the property on Nov. 6th... When this breaks ground and the park tower with the park, DT is getting a huge upgrade. I am very excited with the things that are going on, things are booming all over the city....

Edited by Ethanra
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This article was in the Houston Business Journal Today...

Developers of the Houston Pavilions downtown mixed-use project have secured $140 million in construction financing from North Houston Bank.

The transaction makes it possible for construction to begin on the ambitious three-block development bounded by Dallas, Polk, Main and Caroline. Groundbreaking is set for Nov. 6.

It will take two years to build the $200 million project, which will contain roughly 800,000 square feet of retail, office and high-rise residential space.

William Denton and Geoffrey Jones of Houston Pavilions LP are the developers behind the project, which has already secured the House of Blues and Lucky Strike bowling lanes as tenants.

Jones says it was important to use a local bank on the project, which has been supported by North Houston Bank since it was conceived in July 2003. North Houston Bank is the Houston-based banking affiliate of FBOP Corp.

Mark Sixour, a managing director in the Houston office of Holliday Fenoglio Fowler LP, arranged the loan.

In addition to bank financing, the Houston Pavilions has lined up an $8.8 million development grant from the City of Houston, $5.5 million from Harris County, $1 million from the Downtown District and an undisclosed amount from partner Houston Catalyst LP. The project will be part of the Main Street/Market Square Tax Increment Reinvestment Zone.

Hellmuth, Obata + Kassabaum Inc. is the architect on the Houston Pavilions. Houston-based D.E. Harvey Builders will serve as general contractor for the project. Construction activities will be coordinated and supervised by the Wells Partnership of Denver.

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