Houston19514 Posted May 9, 2014 Share Posted May 9, 2014 I might be able to provide a little more clarification on the parking situation.As has been explained to me, the parking situation is due to a perpetual easement on the property where the Houston Club now stands. Texas Commerce Bank once owned the JPMorgan Chase Tower, Houston Club Building, and 712 Main (Gulf Building). This of course then became JPMorgan Chase property when the banks became one. When JPMorgan Chase decided to sell the properties via contracts (iron clad) they placed a perpetual easement on the Houston Club property where they must always provide parking. So as it stands that property must always provide parking for the bank There might be a kernel of truth in there somewhere, but there is enough misinformation to cast doubt on the whole story. Texas Commerce Bank never owned JPMorgan Chase Tower and JPMorgan Chase Tower never became the property of JPMorgan Chase. Quote Link to comment Share on other sites More sharing options...
urbanize713 Posted May 9, 2014 Share Posted May 9, 2014 You are correct on the ownership of the Tower. To be absolutely and technically correct it was a capitol lease. The only thing I don't understand is couldn't they temporarily relocate those people to a different garage at their expense? Then once the new garage is done bring them back. I just shared what was explained to me so don't quote me on it but I considered the source pretty reliable. Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 9, 2014 Share Posted May 9, 2014 There might be a kernel of truth in there somewhere, but there is enough misinformation to cast doubt on the whole story. Texas Commerce Bank never owned JPMorgan Chase Tower and JPMorgan Chase Tower never became the property of JPMorgan Chase. You have a point in that JPMorgan Chase Tower (neè Texas Commerce Tower in United Energy Plaza) was built a few decades after the Houston Club building. Howsoever, when it was built the Houston Club building also housed operations for the National Bank of Commerce, the headquarters of which was across the street in the Gulf Building. I haven't chained out the title, but Jesse Jones was up to his eyebrows in the bank and in constructing both buildings, regardless of how many different entities were actually the nominal owners. National Bank of Commerce merged with Texas National Bank to become the Texas National Bank of Commerce (complete with really twangy radio jingle about "all the bank you'll ever need" - thanks for the earworm, Bud), later shortened to Texas Commerce Bank, subsequently assimilated by the Borg Chase singularity. The easement idea makes sense from a legal standpoint. It's creative, and it works. Ya gotta love the mano a mano involved in having a parking space that you simply won't sell at any price under a price where it makes sense to go ahead and literally blow up its previously attached building. Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 9, 2014 Share Posted May 9, 2014 The easement idea makes sense from a legal standpoint. It's creative, and it works. Ya gotta love the mano a mano involved in having a parking space that you simply won't sell at any price under a price where it makes sense to go ahead and literally blow up its previously attached building. Really makes me want to go in to real estate development if one can jump through all of these hoops and still make a profit. Quote Link to comment Share on other sites More sharing options...
KDW Posted May 9, 2014 Share Posted May 9, 2014 The article states implosion of the existing building and garage. The 6 story at Capitol is staying for now. Skanska is paying big $$$ to convert that into a stand alone structure. The ramps for the garage are in the 12 story that is coming down. That's the reason for the steel ramps at Milam. The Demo Contractor is taking a two bay section of the 18 & 12 story out next to the 6 story, this will create space to drop the building in. 1 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 9, 2014 Share Posted May 9, 2014 The 6 story at Capitol is staying for now. Skanska is paying big $$$ to convert that into a stand alone structure. The ramps for the garage are in the 12 story that is coming down. That's the reason for the steel ramps at Milam. The Demo Contractor is taking a two bay section of the 18 & 12 story out next to the 6 story, this will create space to drop the building in. This will be fun to watch. They have already constructed internal walls between the 6 story section and the rest that you can see when they have the big doors open on Travis. Making it ready for implosion will be a neat trick. Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 9, 2014 Share Posted May 9, 2014 Really makes me want to go in to real estate development if one can jump through all of these hoops and still make a profit. That would be a part of the challenge, wouldn't it? I kinda like figuring out how to make the hoops work, personally (though I realize that ain't for everyone)> This will be fun to watch. They have already constructed internal walls between the 6 story section and the rest that you can see when they have the big doors open on Travis. Making it ready for implosion will be a neat trick. aye, Cap'n. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 9, 2014 Share Posted May 9, 2014 You are correct on the ownership of the Tower. To be absolutely and technically correct it was a capitol lease.The only thing I don't understand is couldn't they temporarily relocate those people to a different garage at their expense? Then once the new garage is done bring them back.I just shared what was explained to me so don't quote me on it but I considered the source pretty reliable. No sir. To be absolutely and technically correct, neither JP Morgan Chase nor any of its predecessors either owns or has ever owned any part of JPMorgan Chase Tower (nee Texas Commerce Tower), either by fee simple title, capital lease or otherwise. They are and have always been nothing more than a tenant with naming rights. Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 9, 2014 Share Posted May 9, 2014 M e h. The sly parking deal preceded the tower's construction by a quarter century. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 9, 2014 Share Posted May 9, 2014 M e h. The sly parking deal preceded the tower's construction by a quarter century. Understood. I merely point out the misstatement of fact because it reflects on the reliability of the source. Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 9, 2014 Share Posted May 9, 2014 2 Quote Link to comment Share on other sites More sharing options...
urbanize713 Posted May 9, 2014 Share Posted May 9, 2014 I am not going nine rounds on this. Say that you won or digress I don't care. I enjoy these forums and only post information when I believe it comes from a credible source. The main part of my post was about the parking situation that has puzzled most so let's just stay on that. 2 Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 9, 2014 Share Posted May 9, 2014 ^ And I think that the main point - that they accomplished it by granting an easement - was some pretty darned clever work on the part of whoever thunk it up, elegant in its simplicity. Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted May 11, 2014 Share Posted May 11, 2014 (edited) Picture from today...fully veiled !! Edited May 11, 2014 by HoustonMidtown 1 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 13, 2014 Share Posted May 13, 2014 (edited) Holes punched in the wall for the ramps, and they have taken out portions of the roof. You can see daylight through where it used to be. Edited May 13, 2014 by Nate99 4 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 16, 2014 Share Posted May 16, 2014 (edited) Better (well, different anyway) shot of the stripped out part. Looks like they have two floors worth of frame exposed already on the Capitol side. Sorry about the glare, would have been a better shot a few hours later. Edited May 16, 2014 by Nate99 2 Quote Link to comment Share on other sites More sharing options...
HoustonBoy Posted May 16, 2014 Share Posted May 16, 2014 I wish they could've remodeled and restored the building and on the little lot where the park was put up a tall very skinny tower Quote Link to comment Share on other sites More sharing options...
Sky-guy Posted May 16, 2014 Share Posted May 16, 2014 The last thing we need is another Mercer. 1 Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 16, 2014 Share Posted May 16, 2014 Mercer wouldn't be quite so frugly if it actually had things like windows in it. Quote Link to comment Share on other sites More sharing options...
Mab Posted May 22, 2014 Share Posted May 22, 2014 http://www.khou.com/news/local/Experts-help-reduce-demolition-debris-in-landfills-260195291.html Interesting video on the demolition process 4 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted May 30, 2014 Share Posted May 30, 2014 Website launched: http://capitoltowerhouston.com/ Views: Location: Ground Level: Tunnel Level: 8 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted May 30, 2014 Share Posted May 30, 2014 Those renderings are very attractive. I like the lighting feature up top. Anything to help brighten the view from the ballpark. 1 Quote Link to comment Share on other sites More sharing options...
monarch Posted May 30, 2014 Share Posted May 30, 2014 lovely illustrations. here's hoping that this state of the art edifice, shall change into a myriad of LED colors rather than just stay with a "white glow" throughout the evening / night time. WELCOME TO DOWNTOWN HOUSTON SKANSKA! Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 30, 2014 Share Posted May 30, 2014 Nice that the tunnel level has a lot of open space. It looks like they want it to be another tunnel hub, which makes sense given the number of connections. What does "back of house" mean? Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted May 30, 2014 Share Posted May 30, 2014 It looks oddly located. not quite out of place but not quite fitting in. 609 main will look the same from some angles. Quote Link to comment Share on other sites More sharing options...
Timoric Posted May 30, 2014 Share Posted May 30, 2014 (edited) - Edited July 8, 2019 by Timoric Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted May 30, 2014 Share Posted May 30, 2014 Absolutely Fabulous! I wonder how visible this building will be heading south on I-45. Simple and clean design. If only the Steam/Essex Tower would switch places with this tower, I think it would look nicer along Market Square. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted May 30, 2014 Share Posted May 30, 2014 This building exceeds 6 Houston Center only by being less ambitious and not doing anything kitschy. When the most exciting part of a skyscraper is its first floor, it is not an exciting skyscraper. 1 Quote Link to comment Share on other sites More sharing options...
mollusk Posted May 30, 2014 Share Posted May 30, 2014 It manages to do the crown (which will be pretty much the only part visible from outside downtown) pretty well as crowns go, and the first floor is going to be a game changer for us Mole People by opening up what was the dankest, most non-ADA part of the tunnel system. All in all, I'd say it's a +. Quote Link to comment Share on other sites More sharing options...
Nate99 Posted May 30, 2014 Share Posted May 30, 2014 I like it, but I'm not picky. Quote Link to comment Share on other sites More sharing options...
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