TxDave Posted April 17, 2006 Share Posted April 17, 2006 Any updates on this one?It is really a shame that this building remains such a blight Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted April 17, 2006 Share Posted April 17, 2006 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. Quote Link to comment Share on other sites More sharing options...
VicMan Posted April 18, 2006 Share Posted April 18, 2006 I would love to see this developed too!Has the project been confirmed yet? I can't tell from the posts already posted. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 16, 2006 Share Posted May 16, 2006 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. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted May 16, 2006 Share Posted May 16, 2006 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... Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted May 16, 2006 Share Posted May 16, 2006 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. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 16, 2006 Share Posted May 16, 2006 (edited) 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 May 16, 2006 by Houston19514 Quote Link to comment Share on other sites More sharing options...
lwood Posted May 16, 2006 Share Posted May 16, 2006 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. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted May 16, 2006 Share Posted May 16, 2006 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? i guess they forgot to mention how they sat on it and let it rot from the inside out for over ten years Quote Link to comment Share on other sites More sharing options...
cabanaboy Posted May 16, 2006 Share Posted May 16, 2006 Further proof that Ed is the nations premier metropolitan developer. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 16, 2006 Share Posted May 16, 2006 TEN million? 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. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted May 16, 2006 Share Posted May 16, 2006 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. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 16, 2006 Share Posted May 16, 2006 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? Quote Link to comment Share on other sites More sharing options...
goodfella Posted May 23, 2006 Share Posted May 23, 2006 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. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 24, 2006 Share Posted May 24, 2006 Think seller financing. That may be where the confusion is.But if that were the case, one would expect a mortgage (or deed of trust) to be recorded. I don't find anything. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted May 24, 2006 Share Posted May 24, 2006 19514 is our very own Columbo. Someone's going to attempt suicide by the time he's done. Quote Link to comment Share on other sites More sharing options...
Houston Retail Posted June 13, 2006 Share Posted June 13, 2006 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. Quote Link to comment Share on other sites More sharing options...
sarolabelle Posted February 11, 2007 Share Posted February 11, 2007 Anyone know what is the latest news with this building? Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted February 17, 2007 Share Posted February 17, 2007 Anyone know what is the latest news with this building?I do not know if this is already posted, but Ii picked this up downtown.THIS BLOWSBYCraig Malisow HOUSTONPRESS Quote Link to comment Share on other sites More sharing options...
houstonfella Posted February 18, 2007 Share Posted February 18, 2007 I do not know if this is already posted, but Ii picked this up downtown.<a href="http://www.houstonpress.com/2007-02-14/news/this-blows/" target="_blank"> THIS BLOWS </a> BY Craig Malisow HOUSTONPRESS The Houston Press does know how to entertain. The Chron could get some pointers from HP. Quote Link to comment Share on other sites More sharing options...
Subdude Posted February 18, 2007 Share Posted February 18, 2007 Moved to the Downtown section, because nothing seems to be "Going Up" here anymore. Quote Link to comment Share on other sites More sharing options...
kash Posted July 28, 2007 Share Posted July 28, 2007 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?ThanksKash Quote Link to comment Share on other sites More sharing options...
Subdude Posted July 28, 2007 Share Posted July 28, 2007 so does Marharish really have this building now?ThanksKashThe Mahareshi foundation has the property up for sale. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted July 31, 2007 Share Posted July 31, 2007 I'm so tired of looking at the crappy status of this building. It's a prominent eyesore looking at the skyline from the southwest (and particularly heading into downtown on Spur 527).And since it's a pretty plain-Jane design to begin with, I wouldn't be upset if they just torn it down. Quote Link to comment Share on other sites More sharing options...
CSOM Posted September 10, 2007 Share Posted September 10, 2007 (edited) Sorry for the confusion. Never trust a headline. ;-)The Days Inn has some scaffolding around it right now on the sidewalk... good news or catching falling debris? Edited September 10, 2007 by CSOM Quote Link to comment Share on other sites More sharing options...
sevfiv Posted September 10, 2007 Share Posted September 10, 2007 The Days Inn has some scaffolding around it right now on the sidewalk... good news or catching falling debris?they are building a "pedestrian protection sidewalk canopy" - presumably to protect pedestrians from the falling debris...lol Quote Link to comment Share on other sites More sharing options...
native_Houstonian Posted September 24, 2007 Share Posted September 24, 2007 Passed by this site yesterday, and noticed some kind of construction going on. Does anyone know what's up? Quote Link to comment Share on other sites More sharing options...
sevfiv Posted September 24, 2007 Share Posted September 24, 2007 Passed by this site yesterday, and noticed some kind of construction going on. Does anyone know what's up?i moved a couple posts from another thread to this one - just above yours.i think the canopy is just for safety Quote Link to comment Share on other sites More sharing options...
GovernorAggie Posted September 24, 2007 Share Posted September 24, 2007 i moved a couple posts from another thread to this one - just above yours.i think the canopy is just for safetyYou 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? Quote Link to comment Share on other sites More sharing options...
Jax Posted September 24, 2007 Share Posted September 24, 2007 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? Quote Link to comment Share on other sites More sharing options...
sevfiv Posted September 24, 2007 Share Posted September 24, 2007 here is the thread about the three abandoned buildings article in the HP:http://www.houstonarchitecture.info/haif/i...?showtopic=9446 Quote Link to comment Share on other sites More sharing options...
Jax Posted September 24, 2007 Share Posted September 24, 2007 Here's the article I was talking about. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted September 24, 2007 Share Posted September 24, 2007 yeah, that's the one Mr. Malisow started the thread about Quote Link to comment Share on other sites More sharing options...
Subdude Posted October 12, 2007 Share Posted October 12, 2007 Note the posts about the Chronicle building were split into a new thread. Quote Link to comment Share on other sites More sharing options...
NYcapVest Posted November 13, 2007 Share Posted November 13, 2007 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. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted November 13, 2007 Share Posted November 13, 2007 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? Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted November 13, 2007 Share Posted November 13, 2007 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? Quote Link to comment Share on other sites More sharing options...
Jax Posted November 13, 2007 Share Posted November 13, 2007 We did our due dilligence on this property back in May of this year and it had structural issues that made in unfeasible for usIn 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? Quote Link to comment Share on other sites More sharing options...
ricco67 Posted November 14, 2007 Share Posted November 14, 2007 And now, you will hear the collective gasp as we await further information. Quote Link to comment Share on other sites More sharing options...
bachanon Posted November 14, 2007 Share Posted November 14, 2007 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. Quote Link to comment Share on other sites More sharing options...
ToolMan Posted November 14, 2007 Share Posted November 14, 2007 Blow it up with the Montagu Quote Link to comment Share on other sites More sharing options...
Subdude Posted November 14, 2007 Share Posted November 14, 2007 What is disturbing is that if there are structural issues hindering redevelopment, then it could well stand vacant another 20 years. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted November 14, 2007 Share Posted November 14, 2007 What is disturbing is that if there are structural issues hindering redevelopment, then it could well stand vacant another 20 years.Great - then it will be on its way to being another Savoy Apartments, but on a much larger scale. Quote Link to comment Share on other sites More sharing options...
Subdude Posted November 14, 2007 Share Posted November 14, 2007 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. Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted November 14, 2007 Share Posted November 14, 2007 (edited) 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 November 14, 2007 by ChannelTwoNews Quote Link to comment Share on other sites More sharing options...
Jax Posted November 14, 2007 Share Posted November 14, 2007 I agree. It's kind embarrassing showing somebody the city and drive past those abandoned buildings on the way downtown. It effects the skyline shots I take from the roof of my parking garage too. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted November 14, 2007 Share Posted November 14, 2007 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) Quote Link to comment Share on other sites More sharing options...
Jax Posted November 14, 2007 Share Posted November 14, 2007 What is the date of that tidbit? Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted November 14, 2007 Share Posted November 14, 2007 (edited) What is the date of that tidbit?It was in their 3rd quarter office market report, so sometime within the last month or so. Edited November 14, 2007 by Houston19514 Quote Link to comment Share on other sites More sharing options...
Jax Posted November 14, 2007 Share Posted November 14, 2007 (edited) That's good news then. I thought I read somewhere that the Savoy was in bad structural shape. Edited November 14, 2007 by Jax Quote Link to comment Share on other sites More sharing options...
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