astros148 Posted December 7, 2015 Share Posted December 7, 2015 really hope this doesnt end up staying a parking lot Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted December 7, 2015 Share Posted December 7, 2015 I am puzzled. Economics, Commerce, or Real Estate are not my forte perhaps one of you can explain this. Why are so many supertalls or near supertalls going up in Manhattan ( One Vanderbilt, Hudson Yards. World Trade Center buildings etc ) yet we are struggling to get this building up? I know Manhattan has a huge number of attractions, but it also has a huge number of hassles and very high rent. This site in downtown Houston is not without some charms. It seems like a great site. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 7, 2015 Share Posted December 7, 2015 It's still America, but the local economies of each city has a large enough difference that make the really complicated answer a bit less so. Also, that housing bubble in NYC is gonna crash and burn soon, which hopefully will drive down rents. 1 Quote Link to comment Share on other sites More sharing options...
jmitch94 Posted December 7, 2015 Share Posted December 7, 2015 I am puzzled. Economics, Commerce, or Real Estate are not my forte perhaps one of you can explain this. Why are so many supertalls or near supertalls going up in Manhattan ( One Vanderbilt, Hudson Yards. World Trade Center buildings etc ) yet we are struggling to get this building up? I know Manhattan has a huge number of attractions, but it also has a huge number of hassles and very high rent. This site in downtown Houston is not without some charms. It seems like a great site.The extremely high rents that you mention are one of the biggest driving forces of supertalls. Being able to collect much higher rent per square foot means they can spend more per square foot, ie taller and more architecturally pleasing structures. Also the land costs more there so they must build a decently tall building just to cover the cost of land. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted December 7, 2015 Share Posted December 7, 2015 I am puzzled. Economics, Commerce, or Real Estate are not my forte perhaps one of you can explain this. Why are so many supertalls or near supertalls going up in Manhattan ( One Vanderbilt, Hudson Yards. World Trade Center buildings etc ) yet we are struggling to get this building up? I know Manhattan has a huge number of attractions, but it also has a huge number of hassles and very high rent. This site in downtown Houston is not without some charms. It seems like a great site. The market for such buildings, at least the residential ones, is driven by the 1%. Overall metro economics do not apply. This is true to a lesser extent with high profile office properties, where the companies that choose to rent space there are not subject to the same economics as the overall metro. They are firms that can float between cities and choose where they want to land their feet based on the prestige of the location. Firms like that pick places like Manhattan, not Houston. 1 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted December 7, 2015 Share Posted December 7, 2015 To H-town's point, Manhattan residential real estate is often a hedge by foreign interests trying to stake out something tangible in a stable economy. London, Vancouver and others have similar dynamics. Quote Link to comment Share on other sites More sharing options...
Popular Post Nate99 Posted December 9, 2015 Popular Post Share Posted December 9, 2015 11 Quote Link to comment Share on other sites More sharing options...
monarch Posted December 9, 2015 Share Posted December 9, 2015 ^^^ said structure is enormously well constructed... wow! Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted December 12, 2015 Popular Post Share Posted December 12, 2015 10 Quote Link to comment Share on other sites More sharing options...
bobruss Posted December 12, 2015 Share Posted December 12, 2015 Great job Marathon Man!! Looks like you made the rounds. Hope you didn't get too wet. Thanks for the share! Quote Link to comment Share on other sites More sharing options...
hindesky Posted December 12, 2015 Share Posted December 12, 2015 Great job Marathon Man!! Looks like you made the rounds. Hope you didn't get too wet.Thanks for the share!I had to cut the ride short when it started raining. Quote Link to comment Share on other sites More sharing options...
Popular Post amashgo Posted December 14, 2015 Popular Post Share Posted December 14, 2015 From Saturday: 10 Quote Link to comment Share on other sites More sharing options...
Popular Post Nate99 Posted December 17, 2015 Popular Post Share Posted December 17, 2015 10 Quote Link to comment Share on other sites More sharing options...
hindesky Posted December 25, 2015 Share Posted December 25, 2015 8 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted December 27, 2015 Share Posted December 27, 2015 We've got to be getting close to some sort of closure on the future of this one. What was the enigmatic insider information posed a while back... 12 story parking garage and tower instead of 8 story garage and 2 floor tower?? It looks to me like they're almost to 8 on the garage. Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted December 27, 2015 Share Posted December 27, 2015 They will not start construction on the office component until they secure a lead tenant that will lease 50% of the building. Quote Link to comment Share on other sites More sharing options...
Avossos Posted December 27, 2015 Share Posted December 27, 2015 They will not start construction on the office component until they secure a lead tenant that will lease 50% of the building.Well that isn't happening soon. Thanks a lot for the garage Skanska (not) 2 Quote Link to comment Share on other sites More sharing options...
Popular Post Nate99 Posted December 29, 2015 Popular Post Share Posted December 29, 2015 10 Quote Link to comment Share on other sites More sharing options...
monarch Posted December 29, 2015 Share Posted December 29, 2015 ^^^ the above is such a tease... great job nate99! 2 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted January 7, 2016 Share Posted January 7, 2016 I think they've reached the top of the garage. I don't see any more work being done to get more forms up. I am interested to see what structure goes up to seal off the would-be tower lobby/tunnel entrance side. 8 Quote Link to comment Share on other sites More sharing options...
wxman Posted January 8, 2016 Share Posted January 8, 2016 This project is a damn joke and it's depressing to look at. Please just let this project slip into the bowels of this forum never to be seen again. 1 Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted January 8, 2016 Share Posted January 8, 2016 This project is a damn joke and it's depressing to look at. Please just let this project slip into the bowels of this forum never to be seen again.Did the previous building have structure issues? Was it unleaseable? I don't know much about this area. Trying to figure out the economics of demolishing a building and not sure about being able to deliver a replacement Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 8, 2016 Share Posted January 8, 2016 Did the previous building have structure issues? Was it unleaseable? I don't know much about this area. Trying to figure out the economics of demolishing a building and not sure about being able to deliver a replacement Location, location. If the former building wasn't at the smack dead center of the CBD and tunnel system, it would still be in use. Quote Link to comment Share on other sites More sharing options...
mollusk Posted January 8, 2016 Share Posted January 8, 2016 From the looks of things, this is about the same amount of parking that was there for Those Whose Parking Shall Not Be Disturbed - as a rough guess, about 1/3 of the eventual garage if it goes up according to plan. Re the earlier building: it was pretty much unleaseable. It was about a B-, maybe C building with way more columns than what you'd see in something built more recently, and an extremely low occupancy rate. If it weren't for Those Whose Parking Shall Not Be Disturbed and being a tunnel hub I wouldn't have been surprised to see it either become a ghost building or surface parking once the Houston Club's sweetheart lease from the 50s ran out. We looked at leasing there once, but it was the first building crossed off the list. 1 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted January 8, 2016 Share Posted January 8, 2016 Those Whose Parking Shall Not Be Disturbed I fear for the fate of whoever botched the demolition by a few feet and rendered the temporary garage job useless. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted January 11, 2016 Share Posted January 11, 2016 I fear for the fate of whoever botched the demolition by a few feet and rendered the temporary garage job useless.I'm not sure it really came down to any "one person". I never heard of any repercussions when talking to a Skanska project development manager.. Though he said the mistake cost them "a few million". Quote Link to comment Share on other sites More sharing options...
Popular Post cloud713 Posted January 11, 2016 Popular Post Share Posted January 11, 2016 13 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted January 11, 2016 Share Posted January 11, 2016 I'm not sure it really came down to any "one person". I never heard of any repercussions when talking to a Skanska project development manager.. Though he said the mistake cost them "a few million". I was being a bit tongue in cheek around the whole bizarre accommodation of the parking arrangement. I would imagine it was a calculated risk that didn't work out. It happens... 2 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted January 12, 2016 Share Posted January 12, 2016 (edited) I am interested to see what structure goes up to seal off the would-be tower lobby/tunnel entrance side. Someone mentioned a while back that this block would make a nice location for a park (admittedly, i didn't think about the Gulf Building being on the block to the east, with pennzoil to the west and emperson to the south.. throw in Texas tallest skyscraper to the north and this really would have been a great spot for an urban block park). Maybe Skanska can temporarily sod over the tunnel/lobby and make half the block a park, or public garden space of some kind, until they're able to build the tower? It would of been great to have the whole block be green space, with the tunnel system opening up to the park above, but these properties are way too prime to permanently turn into green space i guess. Edited January 12, 2016 by cloud713 Quote Link to comment Share on other sites More sharing options...
mollusk Posted January 12, 2016 Share Posted January 12, 2016 Well, at least Those Whose Parking Shall Not Be Disturbed will have a more modern garage for the valets to tool around in, while we plebes... well, do whatever plebeians do. Quote Link to comment Share on other sites More sharing options...
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