The Allen: Mixed-Use Development At Allen Parkway & Gillette St.

[jmontrose]

Anyone know what's going on next to the Federal Reserve on Allen Pkway?

[uhlaw09]

Anyone know what's going on next to the Federal Reserve on Allen Pkway?

I've been wondering the same thing. Anyone have some insight?

[lockmat]

What was there before?

[kylejack]

What was there before?

Jeff Davis hospital, then an empty field afaik.

[Northwood]

I am guessing more overflow parking.

[LTAWACS]

^^We're in Houston so... that sounds about right.^^

[skooljunkie]

http://www.chron.com/business/real-estate/article/mixed-use-allen-parkway-eb-5-Houston-8315544.php

 

Quote

A Houston developer who purchased six acres across from Buffalo Bayou Park said he expects to begin construction of a mixed-use development on the site in early 2018.

Roberto Contreras, a Mexican entrepreneur who formerly ran a local distributor of Silestone, said initial plans call for a luxury hotel, housing, shops and an office tower.

Contreras, president and CEO of Houston-based DC Partners, hired the Gensler architecture firm to create a plan for the site on the southeast corner of Allen Parkway and Gillette, next to the Federal Reserve Bank. The company purchased the property from HTX Real Estate Partners. The deal closed in May.

 

[Visitor]

11 minutes ago, skooljunkie said:

 

Was just talking about this site the other day.  Would hope they take the buffalo bayou foot traffic into consideration in the design. There is almost nothing walkable from the bayou in terms of food/beverage.

[Nucleareaction]

Guy in the photo with a world champion jersey on. Just ain't right...

[Urbannizer]

HBJ has more details:

 

http://www.bizjournals.com/houston/news/2016/06/22/mixed-use-development-slated-for-site-near-buffalo.html

 

Roberto Contreras, president and CEO of Houston-based DC Partners, told the Houston Business Journal he plans to start an approximately $500 million mixed-use development at the southeast corner of Allen Parkway and Gillette Street in early 2018. The 6.01-acre project is expected to feature a luxury hotel, housing, shops and an office tower. Gensler designed the overall master plan layout for the site.

 

The company, along with Tianqing Real Estate Development LLC, bought the property from HTX Real Estate Partners in a deal that closed in May. Contreras said he could not disclose the cost of the deal.

Contreras said the luxury hotel, the first phase of the project, would have about 150 to 180 rooms and would open around 2020.

[Urbannizer]

Wow!!! Make this happen please!!!

 

http://www.chinadaily.com.cn/m/gansu/2016-08/22/content_26559908.htm

 

 

Quote

Tianqing Real Estate Development LLC (Tianqing RED), a US subsidiary of one of China's largest real estate companies, has acquired a prime location in Houston to build high-rise buildings of mixed use that will change the city's skyline in the next few years. 

Tianqing RED recently closed on the purchase of the land on Allen Parkway, west of downtown and across from the newly improved green space Buffalo Bayou. It is the last track of undeveloped land of that scale at such a prime location in the city.

"The land is a rectangle with hard corners, sufficient depth and width for development. It has great views all around. To the north there is the Buffalo Bayou, to the south the Texas Medical Center, to the east downtown Houston, and to the west the financial district Galleria. We are very happy to be able to get our hands on it," said David Du, president of Tianqing RED.

 Tianqing RED is a US subsidiary of Tianqing Group Real Estate Company, Ltd ( Tianqing Group), the largest real estate company in China's Gansu province.

A total of $500 million will be invested in the project. The planned first phase includes a luxury hotel of 150-180 rooms and a high-rise condo. Construction is expected to start by the end of 2017 or early 2018. Another high-rise condo, a class-A office building and possibly a luxury senior-living building will be built later.

 Upon completion, there will be two condo towers with a total of 180 units along with the hotel, an office building and ground-level retail spaces. The project aims to become a new landmark in Houston.

 Tianqing RED, as the major stakeholder, is partnering with Houston developer DC Partners on the project. The master plan will be designed by Gensler, which designed China's tallest building, the Shanghai Tower.

 
"Working with a local partner enables us to readily gain access to the local contractors, connections, talents and other resources. It also helps to reduce our risk somewhat," said Du.

 Du said Tianqing RED had looked around the US for opportunities and eventually picked Houston because of its thriving economy.

 "Texas is number one in the US in GPD growth, population growth and job creation. Houston's economy is much diversified. The people here are open and welcoming. In addition, the government policy provides a favorable business environment. To us, Texas is like the California of 1990s or China's Shenzhen," he said.

 Du said Texas' welcome was evident when Tianqing Group's chairman of board Han Qing visited here in May this year. He was well received by Houston Mayor Sylvester Turner and state officials. All expressed support for the project that will stimulate the local economy.

 "The consul general of China in Houston, Li Qiangmin, also gave us a lot of help by providing some useful suggestions," added Penny Sizemore, vice-president of Tianqing RED.

 EB-5, the popular immigration investment program among Chinese, will be used to raise part of the money for the project.

However, Du said Tianqing RED will not rely heavily on EB-5 for financing. When it gets ready to start construction, parent company Tianqing Group will guarantee and provide the remaining funds for the project, he said.

 

[EllenOlenska]

And my dream of the west-facing view of Downtown getting a little less monolithic and a little more three dimensional is nudged closer to reality. 

[terra002]

That would be great. Maybe then we can get rid of Allen Parkway Villages. 

[Triton]

25 minutes ago, terra002 said:

That would be great. Maybe then we can get rid of Allen Parkway Villages. 

I'll let Houston19514 correct me here, but that can't be torn down because they fought to make them historic. I believe the central buildings are from the mid-1940s. I have a feeling those will be there for a while.

 

[terra002]

That's a shame...

[Nucleareaction]

My fantasy, along the lines of this project, is something happening to the site at Montrose & Allen Parkway. If the Khan Foundation ever gives it up, I'd love to see a multi-purpose mall/residence/office space there. Tiers of restaurants facing the Bayou, sidewalk access, etc. At least this prime plot is getting the project it deserves!

[Montrose1100]

Financial District Galleria has a nice ring to it.

 

Cool project but comparing us to Shenzen is a stretch.

[Urbannizer]

Resized for a better look:

 

[Sellanious Caesar]

I count between 35 to 45 stories for both. That is substantial height for Neartown. I'm excited for this and the developer mentioned two more towers that aren't in the rendering for the future after phase 1.

Edited August 25, 2016 by Sellanious Caesar

[H-TownChris2]

Woooooooooooooowwwwww, that's great news!!!!

[monarch]

^^^ nice!

so china's not so bad after all....

[Urbannizer]

Guess this was the previous design? It comes from a Chinese article published back in March. Both look great!

 

http://www.jiayuan5.cn/news/show-7907.html

[invisibletrees]

4 hours ago, terra002 said:

That's a shame...

 

Hey, it's a good selling feature for those who'll be interested in a condo here! Views of Downtown that will never be obstructed.

 

I love how they've placed so much on 6 acres, utilizing the plot very well. This is how you do a mixed-use development.

[H-TownChris2]

2 hours ago, Urbannizer said:

Resized for a better look:

 

Is it me or do the buildings look like they were created in minecraft but with a texture/resource pack? 

[jgriff]

Isn't $500 mil a little lite for a project like this? Sounds like they are going cheap.

[wxman]

Wow! That would do wonders for connecting the uptown and downtown skylines. Sexy AF.

[Sellanious Caesar]

I was just thinking last week that it would be great if Neartown's skyline doubled in size. 

 

Then today we find out about this!! 

 

* Neartown is the neighborhood west of DT on Allen Parkway. It's anchored by the cluster of office and condo buildings with the AIG building in the middle of it. It's the tall building with the flag pole and US flag on it and the surrounding skyscrapers and high rises. 

 

Also I look forward to the day when Upper Kirby and Neartown converge. Upper Kirby and Greenway Plaza already have converged. 

Edited August 26, 2016 by Sellanious Caesar

[Texasota]

Neartown is a made-up name. Let's really not encourage it.

[Luminare]

Jaw literally came off this morning! Fantastic news! True signs that Houston has defeated the Boom Bust cycle. Our city is growing up everyone. Enjoy.

[Urbannizer]

@CrockpotandGravel ??? I'm not sure I understand what you're getting at because that's what I posted originally in that thread, with a redirect link. You even quoted me the same day I made the comment.

[wilcal]

Is this going into that lot at Dunlavy maybe?

http://www.chinadaily.com.cn/m/gansu/2016-08/22/content_26559908.htm

"Tianqing RED, as the major stakeholder, is partnering with Houston developer DC Partners on the project. The master plan will be designed by Gensler, which designed China's tallest building, the Shanghai Tower."
 

"A total of $500 million will be invested in the project. The planned first phase includes a luxury hotel of 150-180 rooms and a high-rise condo. Construction is expected to start by the end of 2017 or early 2018. Another high-rise condo, a class-A office building and possibly a luxury senior-living building will be built later.

Upon completion, there will be two condo towers with a total of 180 units along with the hotel, an office building and ground-level retail spaces. The project aims to become a new landmark in Houston."

[Nole23]

 

[wilcal]

Weird that there is a different developer now! I searched Jianqing and nothing came up :/

 

Thanks though

[Nucleareaction]

It's this project, different developer now. The Dunlavy one is still Regent Square as far as anyone knows.

[Urbannizer]

dup topics merged

[Luminare]

19 hours ago, jgriff said:

Isn't $500 mil a little lite for a project like this? Sounds like they are going cheap.

 

No. This is pretty good pricing for a project like this. I've been on projects for large high schools that price at $145 mil. and they are enormous. They were also masonry. From the renderings it looks like they are going with much better and much cheaper contemporary materials. The scope seems like something that would be at around $500 mil.

[Urbannizer]

http://swamplot.com/the-mixed-use-towers-that-may-rise-from-the-ashes-of-allen-parkways-former-waste-incinerator-site/2016-08-26/

 

http://tqgroup.net/tianqingloupan/xiusidunshi/dekesasi/2016-07-19/8.html

 

 

 

[monarch]

^^^ i do not believe that the above illustrations are set in stone.  i believe that GENSLER is currently working on the ACTUAL renderings to be revealed at a later date.  i am almost certain that all provided illustrations are nothing but concepts.....

[Texasota]

Renderings are never set in stone. These do appear to have been done by Gensler though and may very well represent the current design. I would not be at all surprised if that design changes, but these appear at least to have been done for this site specifically rather than showing generic fancy glass towers for purely conceptual purposes.

[swtsig]

19 hours ago, Luminare said:

 

No. This is pretty good pricing for a project like this. I've been on projects for large high schools that price at $145 mil. and they are enormous. They were also masonry. From the renderings it looks like they are going with much better and much cheaper contemporary materials. The scope seems like something that would be at around $500 mil.

 

I think $500m might be a little on the low side for what's shown but probably not too far off. i'm not privy to a lot of estimating but ground up construction for class A+ office is probably in the $500/rsf vicinity, condo/mf maybe $200-$250/sf (not as certain) - excluding land costs. I think you could definitely get 2 high rise residential and a 10-12 story office for $500m, a 4th tower is probably stretching it.

[AREJAY]

http://www.bizjournals.com/houston/news/2016/09/06/more-details-revealed-for-500m-mixed-use-project.html

 

Quote

Plans for the mixed-use project are still in the works, said Acho Azuike, COO and managing director of DC Partners, a local real estate investment and development firm that specializes in foreign investors.

The joint partnership is meeting with several architects, including Gensler, Powers Brown Architecture and HOK, to develop a master plan for the project. However, Azuike outlined preliminary plans for the unnamed mixed-use project:

• Luxury hotel, which will have between 150 and 180 hotel rooms. The joint venture is now negotiating with boutique hotel operators.
• Office tower: The building would have 200,000 to 250,000 square feet of Class A office space
• Retail: square footage has not been determined
• Residential condo/apartment tower, or a mixed-use hotel-condo-apartment tower: This tower would have between 80 and 100 condo units and more than 100 apartment units.

 

[swtsig]

it sounds like this development will have a hotel but allen center (ie Brookfield) is also under contract to buy the doubletree. it will undergo a massive renovation/rebranding to a more high end, boutique concept.

[LTAWACS]

Is this still on?

[Urbannizer]

Hotel flag announced for $500M Buffalo Bayou mixed-use

 

A new-to-Texas hotel chain is planting its flag in Houston at a $500 million mixed-use development near Buffalo Bayou Park.

 

Thompson Hotels, a New York-based luxury hotel chain, plans to build the Thompson Houston at Tianqing Real Estate Development LLC and Houston-based DC Partners' mixed-use development at the southeast corner of Allen Parkway and Gillette Street, a hotel spokesperson said in an email. A construction timeline wasn't provided, but DC Partners CEO Roberto Contrerassaid in June that the project's then-unannounced luxury hotel would have between 150 and 180 rooms and would open around 2020.

 

The hotel will offer "a locally inspired Texas experience that incorporates the Thompson brand DNA," the hotel's spokesperson said.

 

Thompson Hotels has properties in New York City, Chicago, Seattle and Nashville, as well as one in Toronto and three in Mexico, according to its website.

[monarch]

^^^ can't wait to reference the renders/concepts.....

[KinkaidAlum]

I've stayed at the Beekman in Manhattan. Nice place. Just looking at their "new" builds in Toronto, Nashville, and Seattle and it seems like we might get a decent place. They all look clean, modern, and glassy on the exterior with fun interiors. I'm hoping they don't get carried away with a Texas-design theme though!

[BigBlueContractor]

On 8/26/2016 at 4:23 PM, Luminare said:

 

No. This is pretty good pricing for a project like this. I've been on projects for large high schools that price at $145 mil. and they are enormous. They were also masonry. From the renderings it looks like they are going with much better and much cheaper contemporary materials. The scope seems like something that would be at around $500 mil.

You need to look at the whole market. Softening conditions might make it close to that. Especially, since it does not look like they are going underground for parking!

[Sic'EmBears]

Congratulations.

[Urbannizer]

Bit more details from chron:

 

http://www.houstonchronicle.com/business/real-estate/article/Boutique-Thompson-hotel-planned-near-downtown-10884414.php#photo-12255687

 

Architecture firm HOK is working on the design for Thompson Houston. The hotel is expected to have 180 rooms and a restaurant connected to a local chef.

 

"We like to bring locally relevant chefs and restaurateurs into the experience so we bring in a lot of the local community and hotel guests feel more connected to Houston," Leondakis said.

[wxman]

I work one block from this site and it does NOT look like it could house the opulent and expansive idea of several high rise towers. I may be wrong. I was about the Titan.