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George R. Brown Convention Center Hotel: East Of Highway 59


lockmat

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Fortunately, I don't see this happening. In the short term it is an exciting project, but does Houston really need a hotel on the east side of 59? The answer is no. It wouldn't be successful and if the city is going to support a new hotel it needs to fill in the empty lots between Minute Maid and Disco Green.

This all sounds like fluff anyways, so I'm not too worried.

Somewhat related...what ever happened with Magic Johnson's group and the Icon Hotel?

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  • 11 months later...

Seems like the GRB master plan renderings accurately reflect the 59 convention hotel:

1327687228981.png

The company developing it updating their pdf of the project:

Now TWO city blocks instead of three

1327691786042.png

New rendering with connecting bridge to GRB

1327691907450.png

Biggest "news" is they want to break ground in Q1 of this year!

edit, also found this info:

This project is a 750 room class-A convention center hotel with connecting bridge to the South entrance of the George R. Brown Convention Center

http://www.americare.../Houston-RC.php

project pdf: http://goo.gl/oy61R

Edited by lockmat
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If they are thinking about breaking ground this year, the bridge won't be built for a long time since it will be connecting to the concention center expansion.

If/when it gets built, do yall think they should try to make it somehwat iconic?

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No reason to make it iconic...in the end it is a pedestrian bridge, most likely only accessible from that hotel.

That being said, something like the allen parkway bridges, moo, 59 bridges, ok...Appealing sure, and I could see it happening, Iconic...no way and def overkill

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I'd love to see this happen but I just don't see how they are going to get the cash to build it.

Also, why in the world would they not place the building in a more east/west fashion rather than north/south? If you're gonna be on the other side of 59 you mights as well take advantage of the views of downtown to the west and even the eastern views at night would be nice (ship channel lights).

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  • 1 year later...

I hope they do maybe it will spark the eastern expanison of buildings in that area.. I personally think with the rail running thou it it would,nt be long before High rasies start to pop up

That's would be great. However, I wouldn't hold my breath on the high rises look at midtown.

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  • 1 year later...

http://www.houstonchronicle.com/news/houston-texas/houston/article/Investor-visas-offer-wealthy-foreigners-5940467.php

 

In Houston, developer Dan Nip was one of the state's first entrepreneurs to establish an EB-5 regional center reviving a blighted part of Old Chinatown in 2007. He put together plans to build a 1,000-room hotel across U.S. 59 from the George R. Brown Convention Center and received city approval for tax incentives to encourage the development.

 

But eight years later, construction hasn't started, and Nip said the project is still "in the development end," blaming "market conditions" for the delay. The investor money was returned after disagreement on "some major terms," he said, declining to offer details. Nip said he has another EB-5 development planned, a hospital in Pearland, and that demand from foreign investors is outpacing supply.

"I have people walking into our office daily without appointments," he said.

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No clue whether that hotel will ever happen and I really can't speak to EB-5 but there has been a crazy influx of foreign money targeting houston lately, China in particular. Hard to say if that continues with oil at $65 but it's definitely something to watch.

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No clue whether that hotel will ever happen and I really can't speak to EB-5 but there has been a crazy influx of foreign money targeting houston lately, China in particular. Hard to say if that continues with oil at $65 but it's definitely something to watch.

This.

I don't think people realize just how bad this stand off between OPEC and American shale really is. OPEC didn't cut production for a reason... They want American production knocked out. At $65, this may not be sustainable for us and this will certainly effect Houston as long as the price is that low. I think foreign investors may have waited too long to take advantage of the Houston real estate market.

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If anyone had asked me, there should not have been another highrise built in New York or Miami after 2008, but New York's got several 1,000-foot residential towers rising, and Miami's seen so many new projects it's enough to make your head spin. I don't see any fundamentals supporting them except for EB-5 money, but there they are. There's no reason Houston shouldn't be getting a share of that action, other than the number of bankrollers in this town is incredibly small for all its wealth. A downturn in oil prices is not going to determine whether any more EB-5s get proposed.

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http://www.houstonchronicle.com/news/houston-texas/houston/article/Investor-visas-offer-wealthy-foreigners-5940467.php

In Houston, developer Dan Nip was one of the state's first entrepreneurs to establish an EB-5 regional center reviving a blighted part of Old Chinatown in 2007. He put together plans to build a 1,000-room hotel across U.S. 59 from the George R. Brown Convention Center and received city approval for tax incentives to encourage the development.

But eight years later, construction hasn't started, and Nip said the project is still "in the development end," blaming "market conditions" for the delay. The investor money was returned after disagreement on "some major terms," he said, declining to offer details. Nip said he has another EB-5 development planned, a hospital in Pearland, and that demand from foreign investors is outpacing supply.

"I have people walking into our office daily without appointments," he said.

I thought Nip's Convention Center Hotel plans died when Houston First chose the Rida Development bid for what became the Marriott Marquis. IIRC, After his bid failed, this project became EaDo Place Apts. Same site, same people behind both projects ...Global Century.

http://www.globalcenturydev.com/files/investors_final2.pdf

30adb200927ed4eff4f73e9f1a4d2f34.jpg

The lot has been fenced off in green fencing for a while... no activity on site.

Edited by tigereye
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houstontexasjack,

 

Fracked wells typically produce for 6 months to 2 years before the production slows to a trickle.  So right now it's mostly the oilfield service companies that are hurt, but within a couple years the production companies will start losing even more revenue, too, if they don't resume drilling.

 

But from what I've read, OPEC is more interested in hurting Russia than the US.  Plus, seeing that several OPEC members (particularly Iran and Venezuela) are in serious pain as a result of lower oil prices, with a little luck this drop won't last that long.

 

Somehow we survived $40 oil in the Great Recession, though, and supposedly the wells in North Dakota are now mostly still profitable at $45 (and some still profitable at $30), so hopefully there will be no overreactions.

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Why the hell are we talking about oil, possible recessions, and OPEC nations, in a thread about an East End Midrise? (not just here by the way, but it's happening everywhere!) Just because oil prices drop below $70 doesn't mean this has to be discussed in EVERY thread ad nauseam! Especially those of you doom and gloom guys who at every chance a potential shortfall/crisis happens you see it as a pass to spell doom for a project and it's disgusting. Get over yourselves already.....Leave the over-analysis and sensationalism to the much maligned 24hr News Cycle. 

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Why the hell are we talking about oil, possible recessions, and OPEC nations, in a thread about an East End Midrise? (not just here by the way, but it's happening everywhere!) Just because oil prices drop below $70 doesn't mean this has to be discussed in EVERY thread ad nauseam! Especially those of you doom and gloom guys who at every chance a potential shortfall/crisis happens you see it as a pass to spell doom for a project and it's disgusting. Get over yourselves already.....Leave the over-analysis and sensationalism to the much maligned 24hr News Cycle. 

 

Because we're all experts and want to express our expert opinions.

 

In regards to the former post with retail under 5-6 floors residential... that's not a hotel?  Right?  So are we expecting residential rather than hospitality in this area?  I'd assume any future big hotels would locate in the Downtown district rather than out of it...even if just a block or two away...unless the developer gets some hefty incentives from the city?

 

I think the East End will see (in years to come) some nice smaller scale hotels on par with Hamptons and the like.  Probably just a couple, and probably 5+ years away (though the Super Bowl push is pretty impressive).

 

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