Jump to content
HAIF - Houston's original social media

East River: KBR Site Puchased by Midway


Recommended Posts

  • Replies 1.1k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Phase I is underway, here's our first look:       More renderings can be found in the brochure below:   https://images1.loopnet.com/d2/2hO8ds_6cesMWwAvCHKLz8FOD

One of the buildings at KBR that faces downtown. Really visible from afar.   

Finally an update (from HBJ):   A spokeswoman for Midway said in an email that the company is in discussions with the city of Houston about how the project will be delivered over the next se

Posted Images

bocephes from Swamplot said:

The mystery buyer has been buying other landmark real estate sites in the city. I think he knows what he is doing and has deep pockets, a great combonation! Rumors I hear are this is going to be an office/resi mix…just like city center.

http://swamplot.com/new-mystery-owner-of-136-acres-in-the-fifth-ward/2012-11-28/#comment-350665

I'm still trying to wrap my mind around something high end at this location. It's not so much the physical location as much as it is it's surroundings. The nice townhomes and the bayou are great, but it's hard for me to imagine high end retail and office. Could yall imagine City Centre here? Then again, that's why I'm not a developer.

Link to post
Share on other sites

bocephes from Swamplot said:

http://swamplot.com/...#comment-350665

I'm still trying to wrap my mind around something high end at this location. It's not so much the physical location as much as it is it's surroundings. The nice townhomes and the bayou are great, but it's hard for me to imagine high end retail and office. Could yall imagine City Centre here? Then again, that's why I'm not a developer.

Great access to hike/bike trail, Jensen puts you minutes outside of downtown, great views of the downtown skyline.

these niceties won't change.

that it is situated in a section of town that isn't known as one of the better areas to live in can always change (and as far as the whole of the East End goes, it is changing).

  • Like 1
Link to post
Share on other sites

Their website. Very professional and sleek, hopefully a reflection of their developments, which by the way are not shown on the site, if they even have any yet. Real estate is only a portion of their business anyway. Seems like the're big into oil/energy so they probably do have really deep pockets. Does anyone know if they have already built anything before? They've only been around since 2010.

http://cathexis.com/

In the second quarter of this year, they expanded their office space in Wells Fargo Plaza from one floor to three. http://downtownhouston.org/site_media/uploads/attachments/2012-07-02/Downtown_Real_Estate_Update_Second_Quarter_2012.pdf

Does anyone have any idea what they are registered as in hcad? If they really are buying up other pieces of land in the city, I'd like to find out which ones.

Link to post
Share on other sites

well the site has officially sold and knowing the buyer i'd be shocked if anything other than high density mixed-use was ultimately developed.

Haha you're not going to get that info outta me... But I think it bodes well for the type of development that will ultimately happen.

i was told sold but they very well could have meant under contract. even if it is only under contract i have no doubt it will ultimately close and no doubt something high-density will get developed.

I could tell you but I won't... Lets see your detective skllls :P Btw they have no track record of development bc they've never developed anything.

In previous post you have made on this topic you said that this would be high density mixed use development because of the buyer. How do you know that this will be nothing other then high density mixed use development if the buyer doesn't have a track record of developing anything ?

  • Like 1
Link to post
Share on other sites

I could tell you but I won't... Lets see your detective skllls :P Btw they have no track record of development bc they've never developed anything.

I thought I read the other day it takes a few days for hcad to reflect the change. I thought it would take much longer, but I hope they are right.

Since they are newbies to the development game, at least the company, who knows about the people, hopefully they are cautiously ambitious.

Link to post
Share on other sites
  • 2 weeks later...
  • 1 month later...

The KBR site would be perfect  for A&M if they opened a Houston campus for their expanded College of Engineering. The internships in the area would be great for students if they decided to do so. It'd also be better because you can only have so many mixed-use developments at once. If this got developed into mixed-use it would probably take away from development that could go downtown, BLVD Place, River Oaks, etc.

 

Heres the article about A&M hoping to expand their Dwight Look College of Engineering by 14,000 students in just 12 years. It's ambitious but has support from big energy players Exxon and Chevron:

http://www.bizjournals.com/houston/news/2013/01/23/texas-am-on-mission-to-increase.html

  • Like 1
Link to post
Share on other sites

I totally disagree.

 

1) Having A&M take over would mean a huge reduction in the tax base

 

2) Rice, UH, and TSU all have engineering programs within 5 miles of this site

 

3) UH just started a petroleum engineering program and is spending millions (with corporate backing) to turn the old Schlumberger site into an Energy Research Park. 

 

4) I doubt an Aggie Campus just south of the Fifth Ward would be successful. 

 

  • Like 2
Link to post
Share on other sites

I totally disagree.

 

1) Having A&M take over would mean a huge reduction in the tax base

 

2) Rice, UH, and TSU all have engineering programs within 5 miles of this site

 

3) UH just started a petroleum engineering program and is spending millions (with corporate backing) to turn the old Schlumberger site into an Energy Research Park. 

 

4) I doubt an Aggie Campus just south of the Fifth Ward would be successful. 

 

When you think about it, the competitive perspective doesn't really make sense.  TAMU *is* going to expand and draw in 14,000 more engineering students from all over the state, country, and globe.  They can be based in College Station, or based in Houston.  I would argue it's better for Houston to have them based here.  It should also help TAMU attract those students, since Houston is probably a more attractive city for students than College Station.  Win for the city, and win for TAMU.  Impact on Rice/UH/TSU would be minimal.  In fact, it might be synergistic, with opportunities for collaboration, like what happens in the Medical Center.

 

The tax reduction would be trivial compared to the economic development benefits of a major engineering campus in the city, and it would absolutely transform that east end neighborhood.

  • Like 1
Link to post
Share on other sites

Only works if there is a high speed rail connection between Houston and College Station. No one would go for it.     <_<

 

Christof Spieler, Carroll Robinson, and Tory Gattis Chron Op-ED,

 

 

 

The Brain Train from College Station through Houston to Galveston. Today, cities gain much of their economic strength from their intellectual strength, from engineers, scientists, medical researchers and MBAs. So we can strengthen our region by connecting intellectual centers and employment centers. That's what regional rail can do: one line, connecting Texas A&M, Prairie View A&M, University of Houston-Clear Lake, the Johnson Space Center and UTMB-Galveston to the urban rail network that will include Downtown, Uptown, the Texas Medical Center, Rice University, Texas Southern University, and the University of Houston-Downtown and Central campuses. All that brainpower, connected by fast, convenient, Wi-Fi-enabled trains, creates one connected, more prosperous, region. And the same rail line also carries commuters to work.

 

 

This idea, along with the greener, more effective bayous idea had always stuck in my mind. 

  • Like 1
Link to post
Share on other sites
  • 1 month later...
  • 1 month later...

Not a land hold, btw this is not the same William Harrison you linked to earlier. He's the youngest billionaire I know. ;)

Not a land hold but will it have the same fate as hardy yards and take a decade to develop?

Link to post
Share on other sites

Think the the point at this point would be, to develop what?! At least the Rail Yards had a sketchy vision. Does anyone have any clues, here?

Wondering what we will blooming at by Super Bowl 2017. There will now be lots of visions of what Houston will be looking like in 2017.

Link to post
Share on other sites
  • 2 weeks later...

Tilman would need one!

They are doing lot of digging and making piles of earth...that get covered up. Is this, perhaps, cleaning contaminated soil?

Forgot to post these

post-723-0-15830600-1370292280_thumb.jpg

post-723-0-57937900-1370292438_thumb.jpg

  • Like 1
Link to post
Share on other sites
  • 1 month later...

It's going to be a trick to connect this tract with downtown. Any ideas?

 

 

And as strickn has pointed out, it's not well connected to downtown either.

I'm very pessimistic.

The East End has plans for a street car system that would run through downtown, form a loop around the East End, and eventually connect to the KBR property, so by the time this would be developed they could have a street car service in place, connecting KBR, the East End, and downtown.

Link to post
Share on other sites
  • 3 weeks later...

A resent post my swamplot 

 

SWAMPLOT READER Robert Meaney sends some observations along with these photos from the Fifth Ward of the 136-acre formerKBR industrial property, sold a little more than a year ago and most recently designated for use as a private helistop: “I know they have been excavating for some time to get the contaminated soil out of the area. Currently they are scheduled to be finished digging up the lot by [December of] this year and according [to] the KBR manager I talked to on site the land will be up to commercial and residential standards.”

 

QdUOvcg.jpg

 

 

 

 

jh5KdGJ.jpg

Link to post
Share on other sites

Hey Diggity, I hadn't heard that.  What parcels has Cathexis grabbed?  There are big empty nearby pieces:

1. North of Clinton/East if Bringhurst

2. West of Jensen

3. South of Buffalo Bayou

 

Interesting news if its true.

 

Just what I have heard from some land guys in the area.

Looking at their holdings, it appears that 2800 Clinton was a separate purchase than KBR but I can't be sure of that.

Link to post
Share on other sites

I'm not sure that is true. I've been hearing that Cathexis has been grabbing up more adjacent land rather than selling it off.

Who knows though, they play it pretty close to the vest.

Ya for the amount he paid I found that a little far-fetched... Wouldn't be surprised at all if he wad actively buying adjacent properties, he'd been linked to many. Def the MO

Link to post
Share on other sites
  • 2 months later...

Not much more than a rumor...But...

There was some conversation on Swamplot earlier this week about the possibility of HEB building a store on the KBR Site.  This kind of washes with the proposed 380/Retail Incentive programs being discussed with in the Business Journal.  For what it worth...I saw "Scott" (The guy from the HEB Commercials) at an East Side Restaurant a couple weeks ago.  Has anyone else heard anything about this?  Apparently, there is some kind of meeting on Nov 8th, where this may be discussed.  But, I have no idea what that may be. 

Link to post
Share on other sites

Not much more than a rumor...But...

There was some conversation on Swamplot earlier this week about the possibility of HEB building a store on the KBR Site.  This kind of washes with the proposed 380/Retail Incentive programs being discussed with in the Business Journal.  For what it worth...I saw "Scott" (The guy from the HEB Commercials) at an East Side Restaurant a couple weeks ago.  Has anyone else heard anything about this?  Apparently, there is some kind of meeting on Nov 8th, where this may be discussed.  But, I have no idea what that may be. 

I haven't heard any rumors like that, but I would love it if it was true....I am moving to "EaDo" next week....a short drive from that site.....

Link to post
Share on other sites

I live a half a block of Clinton, I suppose in "Prime Zeta Turff", but I can only guess what you are talking about and how it can have anything to do with HEB or the development of KBR. However, there are few commercial real estate opportunities available close to the CBD and the East End which can support the type of single floor square footage, including parking that a normal size HEB requires. I agree that the density is not great just off Clinton, but it is easy to say that an HEB here, would draw from a far more reaching area. Also, HEB surely has inside information on the intentions of the remaining KBR site. I just hope that there is a landing pad for the ZETA mothership...and a Spec's.

Link to post
Share on other sites

Don't know about it being "zeta turf" but I also doubt this rumor is true. Yes, there are new town homes in that area and it's been improving, but IMO it's just not enough for any grocery chain to justify building a store. Unless there is some kind of huge secret residential plan for the KBR site, then maybe HEB might consider, but even then I doubt it. Like I commented on Swamplot, HEB isn't really known for opening new "pioneer type" stores in less established areas of Houston. HEB's other lower concept stores Mi Tienda or Joe V's are more probable in this scenario. In fact, Lovett Commercial already has a Joe V's Smartshop proposed for the corner of Harrisburg and Eastwood, which makes this KBR HEB rumor even less true since these locations are so close by.

Edited by intencity77
Link to post
Share on other sites
  • 3 months later...

I found another company similar to the one that bought this property, that does the same thing and buys distressed properties like KBRs. Seems like an odd interest. I mean, I know they're in it to make money, but real estate?

 

 
 
Link to post
Share on other sites

As those were being built, people probably griped about how they didn't fit in, weren't the right style, shouldn't have replaced what was there before, etc.

Are you suggesting that in 150 years we'll look at streets lined with garage entrances as nostalgically as we look at these?

Link to post
Share on other sites

It would be interesting for the Cathexis (or whoever the developer will be) to Plat, Subdived, "zone" and issue some Design/material guidelines, so that there is some harmony and some unplanned rendomness.  Then, sell the lots to individual buyers or smaller devlopers and let it develop quasi-organically.  I know this goes against everything we as Houstonian's stand for.  But, it might just be interesting in an area this size.  Maybe the zoning could expire after a period of time...so, that it could be considered part Houston. 

  • Like 2
Link to post
Share on other sites

Half the property is divided on hcad right now towards Jensen. Its a great property with so much potential. Hate to see it held or mis-managed into a crummy shopping center. I'm afraid that the market for 300k+ townhomes are being eaten up quickly all over town. If Hines builds its other community out on the west side near 610 and i-10, it will be hard to fill these. Although a great skyline view and immediate bayou access are hard to pass up

Link to post
Share on other sites
  • Highrise Tower changed the title to East River: KBR Site Puchased by Midway

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...



×
×
  • Create New...