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Houston Pavilions, now Green Street


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About 2 months ago, I posted a block by block look at the overall site as I walked along Polk Street, and shot from the top floor of the Main Garage (Now renamed Pavilions Parking Garage). Here's a bit of an update, with photos taken on Friday (12/7). I tried to shoot from some of the same locations, but was a bit pressed for time.

Main & Polk Block

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Above Polk Street

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Pavilions Tower

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Polk & Caroline Block

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Looking Back

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I'm taking one of my girlfriends there after the Ottmar Liebert concert on the 8th. I'm sure she'll love it.

Uh... ? Anyway. The bartender at the HOB says that they are still working out their kinks. We'll see.

MisterX strongly disagrees with your post! we should all stop our complaining b/c hey, at least the parking lots are gone! what an ungrateful lot around here.... but that;s exactly what should ha

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I can't believe these dudes had the balls to do this. :P

Do what, exactly?

One of the more interesting things that caught my attention in the construction is over on the HOB section where they're actually putting up sheets of wood. Is that supposed to be part of Sound dampening or something?

It truly is a pity that a hotel couldn't be included in there. They would have seen a considerable amount of business.

I still say I pity the managers of employees that work there. The staff is bound to disappear on noon on fridays for bowling at lunch. LOL.

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Do what, exactly?

Build HP.

I don't know about the wood paneling though but here's som random HOB pics. I wonder if our facade will look like this or if they're all unique. What is that, that same tin sheeting those townhomes in midtown are made of?

house-of-blues.jpg

hobmyrtlebeachsc.jpg

hob3.jpg

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Build HP.

I don't know about the wood paneling though but here's som random HOB pics. I wonder if our facade will look like this or if they're all unique. What is that, that same tin sheeting those townhomes in midtown are made of?

I think the timing and location are right. So it should prove interesting as to what HP does, but I think there is enough transient (hotel/convention business) and local (Houston Residents) traffic that it should prove profitable.

What I meant to say was "plywood sheets" that are currently being put in, I assume that this is going to be covered up by whatever facade they have in mind. I'm just puzzled as to WHY.

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I think the timing and location are right. So it should prove interesting as to what HP does, but I think there is enough transient (hotel/convention business) and local (Houston Residents) traffic that it should prove profitable. What I meant to say was "plywood sheets" that are currently being put in, I assume that this is going to be covered up by whatever facade they have in mind. I'm just puzzled as to WHY.

Oh I know its gonna succeed, the Hyatt, Omni, Marriott, Humble Tower, Houston House, Four Seasons and Hilton are all walking distance and the Rockets games are gonna provide the built in night crowd.

Yeah I know the plywood you're talkin about, I guess they can't put up the metal sheeting directly on the metal frame, they have to nail it to plywood?

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I was in Houston for the first time in months this past weekend, and I had the chance to drive by the Pavilions and One Park Place. I have to say even from the initial renderings I was excited, but after driving by the construction process on the Pavilions, I am beyond excited. The scope is so much bigger in real life and just seeing those 3 blocks being entirely taken up by this is pretty amazing!!! It looks like this thing is going to be big!!!

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Seeing those pictures I can hardly contain my excitement about this project up here in NYC!! I can't wait to go check it out in person when I'm down for the holidays. I really hope as has been discussed many times on this forum, that this along with the several other downtown projects establish critical mass for a consistent pedestrian environment and a vibrant urban atmosphere particularly at night after work lets out and in the weekends. It really improves many facets of life to at least have that option in our city(we'll still have plenty of spread out areas and that is fine as well) and will improve this Great City into another tier of world class...

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Looks like the block closest to Main Street has topped out at 2 stories, and the office tower will possibly be topping out this week as well. From the webcam I think I am looking at the 11th story being completed as I write this.

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Looks like the block closest to Main Street has topped out at 2 stories, and the office tower will possibly be topping out this week as well. From the webcam I think I am looking at the 11th story being completed as I write this.

Awsome. I thought all blocks would have 3 levels of retail, but looking at the rendering it does look like the block closest to Main only has 2. Either way it's getting exciting seeing everything top out!

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Awsome. I thought all blocks would have 3 levels of retail, but looking at the rendering it does look like the block closest to Main only has 2. Either way it's getting exciting seeing everything top out!

I could be wrong but i think all 3 blocks do have 3 levels. Perhaps you're confusing the block with the tower to be an extra level maybe?

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The rendering only shows 2 stories on the block closest to Main, which is why I assumed it had topped off.

They finished the first part of it about 3 weeks ago and haven't started a 3rd story, so I think it's only going to be 2.

I wonder how likely it is that they engineered it like the buildings in the medical center, where they can add an additional 10 stories if they want to in the future. I guess not very likely, but it would be cool if they could build a hotel on top of one of the sections that isn't only 2 or 3 stories.

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I could be wrong but i think all 3 blocks do have 3 levels. Perhaps you're confusing the block with the tower to be an extra level maybe?

If you go to their website and look at the renderings it does look like the block on Main only has two stories... I could be wrong but it just looks that way.

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If you go to their website and look at the renderings it does look like the block on Main only has two stories... I could be wrong but it just looks that way.

I think the renderings pretty clearly show only 2 stories on that block. But if anyone has any remaining doubts, go look at the Leasing Plans. There are only 2 stories on that block.

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Interesting news...anyone have access to the whole article?

Denver Pavilions shops for buyer

The Denver Pavilions is for sale. The 350,000 square feet of retail/entertainment tenant mix, located on two blocks of the 16th Street Mall, could have a new owner within 90 days, said Pavilions co-owner Bill Denton of Entertainment Development Group Inc. (EDG) in Los Angeles.

"It will be an institutional buyer," Denton said. "With the state of the U.S. dollar, it might be an overseas buyer."

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  • 2 weeks later...

Just saw the HP Rep being interviewed on Fox26 and has been saying a few things about the development:

Forever 21 will have 25,000 sf Right across from Macy's

he mentioned the stores, BCBG, journey, and lids(sic?). Lids was the one that I haven't heard of before. He also mentioned a Wine bar at the pavilions.

Other than than mentioning Lucky Strike (25,000sf) and that HOB will have( 44,000sf) 2,000 seating capacity there was nothing really new that he mentioned.

I'm glad that he mentioned the seating capacity since, to my knowledge, no one has even gotten that much from the HP site or emails.

I drove by yesterday and saw that they had indeed started the "bridging" process. I am going to assume that that work will only be done during weekends.

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Thanks for the info. I would be interested to know if they are on schedule for an October opening. Did they say anything about that?

I think Lids is a store that sells hats...

Oh yeah, and the webcam is back online!

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This is kind of off subject, but I was thinking the other day about the parking lots on the east side of downtown near Toyota Center, GRB, and MMP. I presume that many of them are still parking lots because the land value is priced so high that it makes it hard for a developer to come in and build. So I guess my question would be why don't these people who own the parking lots, sell them to developers at a lower price, so something could get built, but they keep part ownership of the property to make up for the lower sell price? They may lose money on the sell, but they'll still be invested in the property. Instead of just trying to sell the property for a big upfront paycheck. I have no expertise in this matter, so I was kind of hoping somebody who does could maybe chime in here. Thanks everyone!!

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So I guess my question would be why don't these people who own the parking lots, sell them to developers at a lower price, so something could get built, but they keep part ownership of the property to make up for the lower sell price?
a developer would want total control to avoid any potential future conflicts.
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Looks like they have added two new tenants... nothing exciting.

Yogurberry

Nail Trix

:mellow:

They have also added a few new pics on their website under Renderings.

Thanks for the info.

For those as clueless as me:

http://www.yogurberry.com/

Nail Trix produced several non conclusive results, but seems most likely to be a salon of some sort.

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This is kind of off subject, but I was thinking the other day about the parking lots on the east side of downtown near Toyota Center, GRB, and MMP. I presume that many of them are still parking lots because the land value is priced so high that it makes it hard for a developer to come in and build. So I guess my question would be why don't these people who own the parking lots, sell them to developers at a lower price, so something could get built, but they keep part ownership of the property to make up for the lower sell price? They may lose money on the sell, but they'll still be invested in the property. Instead of just trying to sell the property for a big upfront paycheck. I have no expertise in this matter, so I was kind of hoping somebody who does could maybe chime in here. Thanks everyone!!

Think about it from the owners' perspectives. The value of the raw land is based upon expected net cash flows from the highest and best use of improvements were they to be built within a short period of time from having sold to a suitable developer. The present value of that net cash flow is effectively discounted so that the land owner captures any surplus profits above the developer's minimum IRR.

So the land owner can either sell the land and take a lump of cash up front without taking on risks related to the development, or they can negotiate to contribute part of their land as equity, making them a limited partner, and negotiating terms such that the ultimate payoff from the development is equal in risk-adjusted present value terms to the price of the land. The land owner will not accept anything less than fair market value for the land regardless of how the deal is structured, and the developer will not accept terms requiring them to pay anything more. If either party to the negotiations is unsatisfied, the developer will have to look for alternate sites...and it's still a fairly competitive land market, so that's not too much of a problem.

The net effect is the trend we have now. Downtown grows at a healthy pace. Anything more that what we've got in the works would probably not be supported by market fundamentals, thereafter dooming our CBD to something utterly Dallas-like (i.e. Detroit's office vacancy in a sunbelt market). Architects and their afficianados seem to often think of downtown as merely a sculpture garden--and it is, I suppose, among other things--but who are the true artists if not they that employ building owners, which have employed developers, which have employed architects? You want to see lots developed? Support the Greater Houston Partnership's push to attract jobs, support any and all infrastructure projects throughout our region, support beautification efforts, pressure your elected officials to maintain our competitive advantages as a city especially where affordability is concerned.

Edited by TheNiche
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I second Niche's emotion....

Downtown is growing at a phenomenal rate considering the economic state of our country (you know that "R" word that G-dub is trying to avoid). As impressive as boomtowns like Miami are looking right now, the foreclosure police are already making them pay dearly for the new construction. Houston's growth pace, along with our constant economic malleability just show that the city is stable. I mean CRAP even LA's entertainment industry is in trouble with the Writers' strike. In all honesty, Houston, DC, and Chicago are probably the most economically stables cities in the US.

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Well, Miami is basically just known as an entertainment and florida is basically known as God's Waiting room for the retirement community that is there. On the other extreme, its also a major tourist/entertainment destination. When people start getting a bit tight with funds, travel is usually the first to take a hit.

Remember, during 9/11, every entertainment/tourist town took a major hit while Houston kept chugging along.

As far as Hollywood goes, that's a totally different animal, so I won't even get into that one.

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http://www.chron.com/disp/story.mpl/nb/hei...ws/5476116.html

...the mixed-use, $170 million center expected for completion in October.

...is already about 65 percent leased...

The city of Houston and Harris County have provided, in total, $16 million to The Houston Pavilions for infrastructure improvements in the form of cash and future tax abatements.

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The article was an interesting read but why did it say it was being created over within seven city blocks? Maybe i misunderstood the way it read.

Edited by C2H
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MUCH MUCH BETTER!!!!!

I'm excited about the cool skywalks, but the most important news is the tenants... this project is shaping up to be very family-friendly with a Lucky Strike bowling alley, upscale dining establishments, the House of Blues, Books-a-Million, and trendy fashion stores... tres chic!

This definitely has success potential now. Granted the DT residential population is still very low, but this gives the 50,000 plus student population more alternatives than just the Galleria for some fun. A downtown Books-a-Million will be flooded b/c it's literally 5 minutes away from main campus, and 5 min walking distance from UHD. This project is set to hit right out of the park (Minute Maid park, lol)!

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A downtown Books-a-Million will be flooded b/c it's literally 5 minutes away from main campus, and 5 min walking distance from UHD

Not to mention a 10 minute rail ride from Rice, Baylor, UT/MD Anderson, TWU, Prairie View Nursing, A&M Health Science Center, HCC, and the rest of the universities in the Medical Center area.

According to www.TMC.edu, the Medical Center has 33,150 Full-time students and more than 75,000 part-time students.

Edited by Jax
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Has anyone else noticed this place doesn't have any exterior windows?

Yep. I've been hoping that the concrete textured exterior is not the final finish, but it looks like it is. I love the project but the exterior materials, in my opinon, leave something to be desired.

Edited by capnmcbarnacle
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