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New Development Map From Central Houston

lockmat

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lockmat

lockmat

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There is a map in the Central Houston office that looks like it's tracking new developments. Anyone see anything interesting? I believe Central Houston is private, so we can't simply walk in there and look at it.

It looks like the orange spots are of new or recently new deveopments. One orange spot I see is just south of Minute Maid Park, anyone know what that might be?

centralhoustonlauraangiebob.jpg

http://www.bisnow.co...ory.php?p=16165

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ricco67

ricco67

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If you're referring to the TINY spot between the GRB and minute maid, I wouldn't have the slightest clue.

My only guess is that it might be a parking garage, and that's because there is the GRB ramp and a slice of that land is going to be munched on by the light rail.

Currently it's just a surface lot/staging area for the GRB. in fact, that's where they land the helicopters when the convention comes to town.

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lockmat

lockmat

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If you're referring to the TINY spot between the GRB and minute maid, I wouldn't have the slightest clue.

My only guess is that it might be a parking garage, and that's because there is the GRB ramp and a slice of that land is going to be munched on by the light rail.

Currently it's just a surface lot/staging area for the GRB. in fact, that's where they land the helicopters when the convention comes to town.

You're close but I think we're talking about two different plots. I zoomed in on the map and I'm pretty sure it's highlight this plot: http://maps.google.c...&gl=us&t=h&z=20

Also here is a list of Central Houston's planned or anticipated downtown or downtown-adjacent projects: http://www.centralho...andDevelopment/

And some that I found interesting:

- Development – Regional Tourism Center | Reconfigure Avenida de las Americas. Support role to the City of Houston for a reconfigured block between GRB Convention Center and Minute Maid Park, to house a Regional Tourism Center including relocation of the two historic houses. North- & south-bound lanes to be reduced from four- to two-lanes at 600 block of AdlA, with 700 block used for lane transitions. (Could this be the project that we are speaking of Ricco?)

- Downtown High School. Participate in confidential negotiations with HISD Trustees and Administration to identify downtown site for HSPVA.

- Master Planning – Mixed-use Retail Core Area. Project in the first half of 2011 to develop conceptual design to re-vitalize downtown’s Shopping District.

- Master Planning – Downtown | East Downtown Livable Centers. Work with numerous entities and the design consultancy team for a nine-month master planning transit-oriented development project of 168-block area bounded by Preston, St. Charles, Pease and Austin. Coordinate multiple projects and consultants within study area.

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ricco67

ricco67

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- Development – Regional Tourism Center | Reconfigure Avenida de las Americas. Support role to the City of Houston for a reconfigured block between GRB Convention Center and Minute Maid Park, to house a Regional Tourism Center including relocation of the two historic houses. North- & south-bound lanes to be reduced from four- to two-lanes at 600 block of AdlA, with 700 block used for lane transitions. (Could this be the project that we are speaking of Ricco?)

Good eye!

I think that's what we're seeing.

This would be a MUCH better location for that department, but I will hold judgement on what the new street layout would be.

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shasta

shasta

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It is a bit off topic, but I was wondering about #4 on that map... not sure I can recall any proposals regarding a tower near Market Square. Anyone have any insight or a refresher if it's been covered on HAIF?

It seems as if that lot fronting Market Square would be pefect for a residential development with retail facing the square but then I remebered this is Houston, so we'll most likely get a lifeless pedestal office tower in what could be a very urban part of downtown.

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swtsig

swtsig

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It seems as if that lot fronting Market Square would be pefect for a residential development with retail facing the square but then I remebered this is Houston, so we'll most likely get a lifeless pedestal office tower in what could be a very urban part of downtown.

I don't think anyone would complain about the proposed office tower if it was built as designed.

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shasta

shasta

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I don't think anyone would complain about the proposed office tower if it was built as designed.

I'm obviously not going to complain but i'd be disappointed if it didn't have some form of retail fsacing the sqaure. Retail + Residential would be optimal since it is fronting the square.

A pedestal offive building with no dialogue with the urban environmement would be the worst thing (other than undeveloped)

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lockmat

lockmat

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What proposed office tower and what design?

The map shows a proposed office tower and apparently all proposed towers have been reported by the media per the map legend. It seems swtsig has already seen a rendering.

I hope we will like the height as much as the design. 35-40 stories would be nice.

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Houston19514

Houston19514

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I recall an interview with a major Houston developer who owns the subject property. I cannot remember who it was, perhaps Mischer? Anyway, in the interview he said they want to do a really good development on that property. I wish I could find the interview, but I don't remember enough specifics to be able to do a decent search. :-(

Edited by Houston19514
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bachanon

bachanon

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I recall an interview with a major Houston developer who owns the subject property. I cannot remember who it was, perhaps Mischer? Anyway, in the interview he said they want to do a really good development on that property. I wish I could find the interview, but I don't remember enough specifics to be able to do a decent search. :-(

i remember this as well, but do not remember how far back or where!

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Subdude

Subdude

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It is a bit off topic, but I was wondering about #4 on that map... not sure I can recall any proposals regarding a tower near Market Square. Anyone have any insight or a refresher if it's been covered on HAIF?

I remember chatter about it back before the crisis, but to my knowledge there has never been a serious proposal for the block. The map perhaps overstates development by including a "potential" category.

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Houston19514

Houston19514

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A very tantalizing tidbit in the Business Journal yesterday regarding downtown:

 

"The year ended with several good-sized, yet-to-be announced lease transactions. One notable lease will be the announcement of the tenant that has subleased the Devon Energy Corp. (NYSE: DVN) space."

 

I don't have access to the full article behind the paywall.

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ClutchCity

ClutchCity

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Here's the rest of the article before they start talking about renovations to the old Exxon tower, the Marriot Marquis, and the downtown living initiative which we already know about:

"Devon announced it will consolidate its Houston operations back to its headquarters in Oklahoma City, leaving behind more than 500,000 square feet of office space. It was the largest tenant to announce it was leaving downtown in 2012.

“It happened in a matter of 48 hours, the general redirection was very quick,” said Tim Relyea, vice chairman of office brokerage at Cushman & Wakefield of Texas Inc.’s Houston office.

The new tenant has a presence in Houston already, he said, and will move in after Devon leaves in February, although he declined to name the company.

The mystery firm’s presence will bring a net positive absorption for downtown — meaning the company is likely coming from outside the area, said Laura Van Ness, director of business development at Central Houston Inc.

In the first quarter, Relyea said there will be a few other relocations within downtown announced as well — one with about 125,000 square feet and another with about 200,000 square feet.

One of those leases might be TransCanada's Corp. downtown relocation to the Bank of America Center to accommodate its Houston growth plans.

Also, blocks that were vacant through 2012 may start to see activity in the coming months.

“In 2013, I think you’ll potentially start to see construction or announcements on a couple of new buildings and skyscrapers in downtown,” Relyea said."

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KinkaidAlum

KinkaidAlum

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In the last month, several law firms have expanded their presence in downtown and a new law firm based in Pittsburgh announced they were opening a Houston branch.

 

Trans Canada is moving from another downtown tower, but is taking more space.

 

The Devon sublease news is HUGE. If it is already spoken for, then there's no way a new tower wont start rising in downtown proper in 2013. In fact, I'd be willing to be that two projects will make it out of the ground...

 

 

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KinkaidAlum

KinkaidAlum

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I've heard two are def getting off the ground this year.

 

Excellent.

 

My money bet would be;

 

1) Chevron. Everything is pointing to it. Major relocation of workers from California and both Enron Bldgs. so full that they have spillover into neighboring towers they do not own. I'd bet they want more consolidation. Plus, a trophy tower downtown would totally outshine the sprawling campuses their competition is building.

 

2) Skanksa. They have their own money for financing and it would be foolish to remove tenants if you don't have relatively firm plans to go forward. 

 

3a) Hines. I'd like to put Hines above Skanska because Hines does quality work, but I've heard rumors they've cooled a bit on their other Main site @ Prairie. The "cooling" surprised me because BG Group Place is now 94% occupied.... not bad for spec.

 

3b) The Macy's site. Like Skanska above, it would seem odd to remove paying tenants from the Americana Bldg, the Macy's building, and to give up the cash a garage pulls in. Would hate to see these 3 demolished only to have 2 full blocks of nothing right in the center of downtown!

 

5) Brookfield's trio of proposals. They've been fishing the longest but their inability to launch back when Discovery Tower and Main Place did (both started as spec) gives me doubts about their ability to develop in Houston.

 

6) The mystery mixed use development on the South side of Market Square. I know nothing about this plan, including who is behind it. Personally, I'd love to rank this #1 because the empty lot is a major scar whose removal would do great things.

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Houston19514

Houston19514

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Shell actually just gave up a bunch of space in the Pennzoil building at the end of last year, and consolidated into One and Two Shell (cubicles for everyone!), so I doubt it's them.

 

Agreed.  I'd be very surprised if Shell built (or occupied) a new building.  They recently made a long-term re-committment to One and Two Shell, but did not expand their space.  Unfortunately, it seems they are putting all of their growth into the energy corridor.

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ClutchCity

ClutchCity

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http://downtownhouston.org/site_media/uploads/attachments/2013-02-15/2012-4Q_-_Stream.pdf

 

Here's a 4Q report that says Chevron was the one that subleased the Devon Energy space(at least a large majority) and how Hines is looking for pre-leasing for its almost 1 million sq ft, 48 floor tower that they have in the development stages. They also reveal who owns the Market Square block, although I have no idea who Linbeck is. 

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Houston19514

Houston19514

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http://downtownhouston.org/site_media/uploads/attachments/2013-02-15/2012-4Q_-_Stream.pdf

 

Here's a 4Q report that says Chevron was the one that subleased the Devon Energy space(at least a large majority) and how Hines is looking for pre-leasing for its almost 1 million sq ft, 48 floor tower that they have in the development stages. They also reveal who owns the Market Square block, although I have no idea who Linbeck is. 

 

Thanks for the post.  I've been trying to remember the name of the owner of that Market Square block.  I knew it was one of the prominent Houston development or construction companies.

 

http://www.linbeck.com

 

From a 2011 Chron interview with Leo Linbeck III:

 

Q: Your company has owned the downtown block between the Chronicle and Market Square Park for years, but has never developed it. What’s the status of that property?

A: We’re looking at a variety of different options on that. We haven’t settled on a firm development plan but we’ve been having a lot of discussions with folks that have interest in that block. We’re very hopeful of getting something going there very soon but it’s been a tough period for new developments.

Q: Will it be an office tower?

A: It very well could be. Obviously a downtown block is going be very high density and the office market is strong downtown for Class A+ product, so we think there are some really good opportunities.

Q: Would you develop it yourself? Sell it? Joint venture?

A: We’re looking at a bunch of different options. It’s really an important block in the context of downtown because it’s sort of the northern gateway to downtown. We want to make sure it’s done right.

Edited by Houston19514
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ClutchCity

ClutchCity

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Throw this into google and  you'll see Nancy has cataloged the potential office developments downtown. It's too bad that all the buildings are around 800k sq ft or below besides 5AC(Which seems to have little chance of getting off the ground) but I guess you can't really expect much following the "Great Recession". http://www.houstonchronicle.com/business/real-estate/article/Houston-s-downtown-skyline-to-be-reshaped-4364923.php

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ClutchCity

ClutchCity

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http://www.bizjournals.com/houston/print-edition/2013/04/05/downtowns-commercial-real-estate.html?page=all

Although its behind pay wall it has some exciting news on what's to be expected in downtown over the next couple years.

“We are going to see at least two more hotels, two residential developments and probably a third, a new high school, redevelopment of the Pavilions and a couple of new office buildings — that’s a lot of activity for one area,” Van Ness said. “I’m looking forward to counting the number of cranes we see in downtown.”

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ClutchCity

ClutchCity

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A good list of what's going on downtown.

 

 http://www.downtownhouston.org/site_media/uploads/attachments/2013-04-01/Downtown_Real_Estate_Update_2013-1Q.pdf

 

I guess it is important to keep in mind that after Exxon's old building is renovated and hits the market it'll add 1.2 Mil sq ft of vacant space around 2017, which hinders the chances of too many major office developments from happening downtown without more good absorption news. Add that with the possibility that Chevron could vacate 600k+ sq ft around the same time in the Allen complex and I think we can officially say 5 AC will never happen. ;)

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