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Holiday / Days / Heaven On Earth Inn At 801 Calhoun


MontroseNeighborhoodCafe

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  • 4 weeks later...

drove by there sunday, and looking at the north side of the building (from the south) it appears that there is activity inside - either vagrants removed alot of curtains, or they are trying to clean up a little...

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I pass by this building everyday and I have noticed there are more windows missing then there have been. I wonder if this is the start of something or just bums/ people getting up there and breaking them out/ removing them.

If they're aluminum, that's a distinct possibility. Metal prices have really soared recently, and that MD 20/20 doesn't buy itself.

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The former Holiday/Days Inn building was advertised for sale in this week's Houston Business Journal, by the Mahrishi Peace Foundation or whatnot. That seems to indicate the project got axed.

Hmmm... That seems odd. Why can't I find the listing?

It's especially odd given that, according to HCAD records, the "Peace Foundation" does not own the building. It is owned by Landco (Raider).

Edited by Houston19514
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Hmmm... That seems odd. Why can't I find the listing?

It's especially odd given that, according to HCAD records, the "Peace Foundation" does not own the building. It is owned by Landco (Raider).

Wow. This week's HBJ, page 6B. "600 room hotel for sale for $10 million. Great location, stunning skyline views, one block from light rail and the best of downtown and midtown all add up to a unique development opportunity" Maharishi World Peace Fund .

I guess Landco is out.

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Wow. This week's HBJ, page 6B. "600 room hotel for sale for $10 million. Great location, stunning skyline views, one block from light rail and the best of downtown and midtown all add up to a unique development opportunity" Maharishi World Peace Fund .

I guess Landco is out.

TEN million? :blink:

i guess they forgot to mention how they sat on it and let it rot from the inside out for over ten years <_<

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TEN million? :blink:

i guess they forgot to mention how they sat on it and let it rot from the inside out for over ten years <_<

What they are selling is effectively just the steel frame and flooring. Especially given today's prices, any investor would save a bundle with the frame and basic structure already in place, compared to building from scratch. At least this is what someone at the site told me once. In any renovation the interior would be gutted anyway, so they probably don't see any harm in letting it go to pot.

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What they are selling is effectively just the steel frame and flooring. Especially given today's prices, any investor would save a bundle with the frame and basic structure already in place, compared to building from scratch. At least this is what someone at the site told me once. In any renovation the interior would be gutted anyway, so they probably don't see any harm in letting it go to pot.

They want more than 5 mil for the Central Square building according to my sources (and the owner is being an ass about it)...unfortunately, once you've got chunks of concrete falling to the pavement below, that "frame and basic structure" must be substantially renovated. The numbers go downhill from there. The Days Inn site is in the exact same state (although it appears somewhat less militarized).

If the LandCo deal didn't go through AFTER they'd already gone public on it, you can be pretty sure that it wasn't so much a matter of a buyer/seller disagreement as much as it probably was something really really bad that came up during the due diligence process...such as a good honest structural engineer.

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But the deal DID go through. According to HCAD and Harris County Clerk's records, Landco bought the property from the Maharishi in 2004 and Landco still owns the property. One customarily conducts due diligence before recording the deed ;-) I suppose it could be possible that the deal came unwound afterwards, but no reversion to the Maharishi appears in the county records yet...

Is nobody else here the least bit curious about the Maharishi advertising to sell property he does not appear to own?

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But the deal DID go through. According to HCAD and Harris County Clerk's records, Landco bought the property from the Maharishi in 2004 and Landco still owns the property. One customarily conducts due diligence before recording the deed ;-) I suppose it could be possible that the deal came unwound afterwards, but no reversion to the Maharishi appears in the county records yet...

Is nobody else here the least bit curious about the Maharishi advertising to sell property he does not appear to own?

Think seller financing. That may be where the confusion is.

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  • 3 weeks later...
  • 7 months later...
  • 5 months later...
In short, Landco did buy it with seller financing and did recently give it back to the Marharishis. The building does have its problems with structural integrity, but perhaps the prior owners did as well.

so does Marharish really have this building now?

Thanks

Kash

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  • 1 month later...
  • 2 weeks later...
i moved a couple posts from another thread to this one - just above yours.

i think the canopy is just for safety

You know, this is just pitiful. Do nothing about the building, but construct a pedestrian protection barrier since we know that the building is a piece of junk. Is think how to get around safety codes? Is that what an absentee landowner should do to a slum property--just build a gate around it so no one gets in?

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Why don't they just tear it down? The scaffolding make sit even more of an eyesore than it already is.

I wonder if there are any homeless people living in there? I loved that article in the Houston press about people living in and having parties in some of the abandoned buildings downtown. Was this the one they talked about? Anybody have a link to that article?

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  • 3 weeks later...
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The Mahareshi foundation has the property up for sale.

We did our due dilligence on this property back in May of this year and it had structural issues that made in unfeasible for us. We contemplated a complete tear down but it didn't make sense for the area that it is in. We're now accumulating parking lots for our project and getting revenue while we complete our acquisitions.

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We did our due dilligence on this property back in May of this year and it had structural issues that made in unfeasible for us. We contemplated a complete tear down but it didn't make sense for the area that it is in. We're now accumulating parking lots for our project and getting revenue while we complete our acquisitions.

Welcome, NY. So it sounds like this building isn't likely to be reused in the near future. It isn't often that we hear about larger buildings like that having structural issues. I've wondered what will eventually happen to the world's skyscrapers as they become ancient.

Are you able to hint at what your project will be like?

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We're now accumulating parking lots for our project and getting revenue while we complete our acquisitions.

Now that's intriguing...

On the topic of the hotel for a second, I'd always been curious about the structural stability of the building. What were the issues in particular that emphasized this? I know vandalism has come up as a point for those that have seen it from the inside, but is there also just a lot of natural wear and tear that can't be reconciled?

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We did our due dilligence on this property back in May of this year and it had structural issues that made in unfeasible for us

In that case it sounds like it'll be town down at some point, the question is now who is going to buy it and pay for the demolition. Too bad it can't be redeveloped.

The project sounds interesting to me as well. There are a lot of empty lots in Houston to buy up. What sort of project are you working on?

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We did our due dilligence on this property back in May of this year and it had structural issues that made in unfeasible for us. We contemplated a complete tear down but it didn't make sense for the area that it is in. We're now accumulating parking lots for our project and getting revenue while we complete our acquisitions.

welcome to the forum nycapvest. btw, casually mentioning a large project to this forum and not providing details will be considered "cruel and unusual" torture to some who frequent here.

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Yeap. One thing that is amazing about Houston is the number of major buildings that have stood vacant for decades: this one (Holiday Inn), Central Sq, Savoy, Sheraton, Melrose, etc. A lot of the vacancies date from the bust of the 1980s.

I'm still surprised at another on that's at least 20 stories and on the eastern tip of the old proposed Shamrock Tower site at Main & Fannin. The Sterling Building, I think. Older than each of the others you mentioned (with exception to one of the Savoy buildings) as well. Always curious about that one.

Anyway back on topic...

The thought of that building having a prime spot in the fore of someone's view coming in from 527 or any of the streets inbound is depressing. Especially if it's going to be there for an extended period of time. Who knows? In the interim, I always try to approach DT without having to point that one out. Makes me feel better for a moment at least.

Edited by ChannelTwoNews
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Yeap. One thing that is amazing about Houston is the number of major buildings that have stood vacant for decades: this one (Holiday Inn), Central Sq, Savoy, Sheraton, Melrose, etc. A lot of the vacancies date from the bust of the 1980s.

Speaking of the Savoy, I just ran across this little tidbit (which I don't think has been reported here before; if it has I apologize):

"The Savoy Hotel, located in the heart of the CBD, is under contract by an undisclosed buyer for $7 million. Expectations are for a condominium renovation."

(Quoted from Stream Realty's report)

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  • Highrise Tower changed the title to Holiday / Days / Heaven On Earth Inn At 801 Calhoun

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