ljchou Posted March 18, 2020 Share Posted March 18, 2020 If the president of the GEE is hopeful for an HEB in East River Project then so am I! 1 Quote Link to comment Share on other sites More sharing options...
htownbro Posted March 18, 2020 Share Posted March 18, 2020 I wonder if this project or any other developing projects get stalled if the economy tanks due to this coronavirus situation. 1 1 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Luminare Posted March 18, 2020 Popular Post Share Posted March 18, 2020 4 minutes ago, htownbro said: I wonder if this project or any other developing projects get stalled if the economy tanks due to this coronavirus situation. Depends. It varies wildly between different sectors of the industry, the type of project, the financing for the project, etc... Anyone out there that says otherwise is trying to sell you something, or in this case with it potentially being a down market...buy something. Most projects already under construction will keep going as long as there is financing already wrapped up in contracts. Most will simply push ahead because we have to remember most of your projects last anywhere from 1-2 years on average. These are already long term investments. While this virus could affect us into the summer or even next year (worst case scenario), its more likely we will have to all just suck it up at some point after we flatten the curve and go back to work. The world can not handle just saying...yeah lets just call 2020 in the books. That just won't happen and with the infection rate and death rate so low for this and where it hits a particular age range it will actually be more responsible to just keep moving forward. The biggest reason for these pauses in the economy is again to "flatten" the curve because while the death rate is low the hospitalization rate is high (20%) and nobody can handle that at all. I've been walking around and people are still building houses, doing interior work for renovations, and one person down the street from where I live just started pouring a new driveway. Where you will see slowdown is in planned projects. Spec projects in most sectors will slowdown. Again though, we need to take projections with a grain of salt. Nobody has a clue how long the world will be in this state, and nobody really knows how serious this all is. Some of the overreactions is because nobody knows what to do. We haven't had any real problems with anything in a very long time, so people are definitely spooked, but its probably needed. So if the projections are wild, and nobody knows what they are going to do then that creates volatility because there is just so much uncertainty. I think we all just need to take these next two weeks see how it plays out and then I think we will really know what is going on. My gut feeling is that after these two weeks we will have a moment of clarity where we all accept that this might just be the new normal (living in the world with this virus till a vaccine is made), and just continue on living, and start things back up again. I'm think probably mid-April things will get back into form. All of this mayhem has been started not by bubbles or minerals, or money, but because of one thing we have no clue what to do with. Long story short, its complicated, its context dependent, we will be fine as an industry in the end as its not an industry fault or a markets fault, but just plain bad luck. Oh well. But the Economy after this is done...wow that will be a fun ride to get on. 9 1 Quote Link to comment Share on other sites More sharing options...
Angostura Posted March 19, 2020 Share Posted March 19, 2020 To the extent Houston is still an industry town, I would expect phases 2 thru whatever to slow down. The energy industry is going to get absolutely hammered. Have a look at oil and gas stocks over the last month to see what the consensus outlook seems to be. Predictions are that global oil demand could be 10% lower, and prices below $20, which will decimate free cash flow at operators, who will need to slash capital spending to keep paying their dividends (oil majors are very reluctant to cut dividends), which will have a trickle down effect on the supplier base, much of which is still recovering from the 2015-6 slump. There will be bankruptcies. 1 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted March 19, 2020 Share Posted March 19, 2020 17 hours ago, htownbro said: I wonder if this project or any other developing projects get stalled if the economy tanks due to this coronavirus situation. I am hopeful that TMC3 can start this spring since it is medical. I don't have much hope for any other Houston project that hasn't broken ground yet. 4 Quote Link to comment Share on other sites More sharing options...
cspwal Posted March 19, 2020 Share Posted March 19, 2020 Our company has tried to start a new building 3 times; first was in 2008, second time in 2015, third time was going to be this year I think the new building is cursed 1 Quote Link to comment Share on other sites More sharing options...
X.R. Posted March 19, 2020 Share Posted March 19, 2020 You also would assume no movement at some of the construction sites across town because we aren't supposed to aggregate in a space with more than 10 people, and (hopefully) most people are working from home. So while oil and gas is crazy right now, I also would hope the construction companies are suspending or slowing down construction so they don't have 50 people standing right next to each other every day. 1 Quote Link to comment Share on other sites More sharing options...
Luminare Posted March 19, 2020 Share Posted March 19, 2020 14 minutes ago, X.R. said: You also would assume no movement at some of the construction sites across town because we aren't supposed to aggregate in a space with more than 10 people, and (hopefully) most people are working from home. So while oil and gas is crazy right now, I also would hope the construction companies are suspending or slowing down construction so they don't have 50 people standing right next to each other every day. Your hope unfortunately just doesn't reflect reality in this case. Most people already don't work that close to one another in a construction site, and due to a lot of regulations, already have to take precautions when it comes to people's safety. The only times when they have to get close to one another is to coordinate for various instances whether it is between disciplines, detailing, etc... A construction site isn't a "gathering" of people, but individual people working in tandem with one another. The worst thing they can do right now is suspend operations unless its absolutely necessary. Its easy for someone in a bougie job like myself or someone who works in an office to say, "oh we should just all work remotely", but that just isn't the reality for the vast majority of people. The real tragedy in all this is the regular working class person because there jobs can't be done remotely. Most jobs can't be done remotely. Even if we had the tech for remote access to be possible, all these jobs require human interaction at some level because most info just can't be conveyed via a computer which is what most simply don't understand. We are seeing this issue come up at the office I'm working at. Yeah fine if a person is working on a task where they can just plug away and work continuously on something then that is fine, but design is a very interactive and collaborative process, and one of the biggest components is face to face human interaction. I can understand people taking precautions, and people should be cautious going forward, but suspending everything or canceling everything is a massive overreaction. 4 Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 19, 2020 Share Posted March 19, 2020 Piggybacking off Luminare's post, I'm working from home and I can promise you that 2404 Navigation shows no signs of slowing down. Also, there are definitely more than 10 people people on-site. But like Luminare said, they are all spaced out already, not really in close proximity, and just out there doing their thing. 5 Quote Link to comment Share on other sites More sharing options...
cspwal Posted March 19, 2020 Share Posted March 19, 2020 (edited) I've actually seen more work being done on the old post building renovation in East Downtown Edited March 19, 2020 by cspwal 3 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted March 19, 2020 Share Posted March 19, 2020 43 minutes ago, cspwal said: I've actually seen more work being done on the old post building renovation in East Downtown Same. It’s directly in my work from home view. Quote Link to comment Share on other sites More sharing options...
Efkelly25 Posted March 20, 2020 Share Posted March 20, 2020 (edited) On 3/17/2020 at 2:42 PM, Houstonian4Life said: https://www.bisnow.com/houston/news/economic-development/the-urban-revival-of-houstons-east-end-is-building-on-its-historic-bones-103439?utm_source=outbound_pub_54&utm_campaign=outbound_issue_37040&utm_content=outbound_newsletter1&utm_medium=email&utm_source=outbound_pub_54&utm_campaign=outbound_issue_37040&utm_content=outbound_newsletter1&utm_medium=email#ath Looks like “official groundbreaking” is this summer. Edited March 20, 2020 by Efkelly25 Delete 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Houstonian4Life Posted March 21, 2020 Popular Post Share Posted March 21, 2020 14 Quote Link to comment Share on other sites More sharing options...
Popular Post JBTX Posted March 23, 2020 Popular Post Share Posted March 23, 2020 Not sure if this is the correct thread or if we should start a new one. Soil sampling crews are onsite right now at the Midway site across from Guadalupe Plaza Park and 2404 Navigation. 13 Quote Link to comment Share on other sites More sharing options...
Efkelly25 Posted March 24, 2020 Share Posted March 24, 2020 Wha does that mean? Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 24, 2020 Share Posted March 24, 2020 9 hours ago, Efkelly25 said: Wha does that mean? It depends on how they intend to use the land. I've been unable to find any plans or materials for that lot. That said, soil samples are usually performed before foundations get dug/poured. And they are out there again today. 3 trucks. 3 Quote Link to comment Share on other sites More sharing options...
I'm Not a Robot Posted March 24, 2020 Share Posted March 24, 2020 43 minutes ago, JBTX said: It depends on how they intend to use the land. I've been unable to find any plans or materials for that lot. That said, soil samples are usually performed before foundations get dug/poured. And they are out there again today. 3 trucks. HEB come on down. Keep the building less than five stories please, I like having a view as do hundreds of others who haven't been obstructed yet. A lot of people will basically be set for the future as far as the view of downtown (including the new development across the street) if this lot isn't a tall building. 4 Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 24, 2020 Share Posted March 24, 2020 20 minutes ago, I'm Not a Robot said: HEB come on down. Keep the building less than five stories please, I like having a view as do hundreds of others who haven't been obstructed yet. A lot of people will basically be set for the future as far as the view of downtown (including the new development across the street) if this lot isn't a tall building. I have visions of the first dual-use HEB/Specs. If that happens, I would have literally everything I could ever need at my doorstep. 5 Quote Link to comment Share on other sites More sharing options...
Mr.Clean19 Posted March 24, 2020 Share Posted March 24, 2020 It's the perfect spot for an HEB. Hopefully this doesnt turn into another midtown Fiesta. The homeless population is horrible here 2-3 days a week. 3 Quote Link to comment Share on other sites More sharing options...
Sanjorade Posted March 24, 2020 Share Posted March 24, 2020 30 minutes ago, Mr.Clean19 said: It's the perfect spot for an HEB. Hopefully this doesnt turn into another midtown Fiesta. The homeless population is horrible here 2-3 days a week. I lived at the apartments across from the site for about a year. While it's close to a lot of things, access to the site is a little tricky coming from EaDo or Downtown. Navigation is a one lane underpass from Chartres and Runnels is often slow due to the train. I think this site would be best suited for another apartment complex. GFR would work here since there is a lot going on in the area. I think the best place for an HEB would be is off Leeland where Reece Supply (2606 Bell St, Houston, TX 77003) currently sits. It would be great for EaDo, Eastwood, and Third Ward. Thoughts? 3 Quote Link to comment Share on other sites More sharing options...
Efkelly25 Posted March 24, 2020 Share Posted March 24, 2020 I saw a guy testing soil on the MDI lot next to the city side home development. So maybe they are getting ready to build next to it? 1 Quote Link to comment Share on other sites More sharing options...
thatguysly Posted March 24, 2020 Share Posted March 24, 2020 15 hours ago, Efkelly25 said: Wha does that mean? They are geotechnical crews. They test the makeup and compaction of the soil. This will let the builders know what type of foundation support is required for the type of project. 1 Quote Link to comment Share on other sites More sharing options...
Efkelly25 Posted March 24, 2020 Share Posted March 24, 2020 Ok, I forgot to mention, this guy said he worked for EPA. 1 Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 24, 2020 Share Posted March 24, 2020 29 minutes ago, Efkelly25 said: Ok, I forgot to mention, this guy said he worked for EPA. EPA at the MDI site makes sense. It's right next to a CERCLA site. 1 Quote Link to comment Share on other sites More sharing options...
Ross Posted March 25, 2020 Share Posted March 25, 2020 3 hours ago, JBTX said: EPA at the MDI site makes sense. It's right next to a CERCLA site. MDI IS a CERCLA site. https://semspub.epa.gov/work/06/300117.pdf http://swamplot.com/urban-living-beats-frank-liu-to-the-punch-at-mdi-superfund-site-with-construction-on-inaugural-townhome-cluster/2018-11-13/ 1 Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 25, 2020 Share Posted March 25, 2020 2 hours ago, Ross said: MDI IS a CERCLA site. https://semspub.epa.gov/work/06/300117.pdf http://swamplot.com/urban-living-beats-frank-liu-to-the-punch-at-mdi-superfund-site-with-construction-on-inaugural-townhome-cluster/2018-11-13/ Oh that's right. Couldn't ever if it was by it or in it. Oops. 1 Quote Link to comment Share on other sites More sharing options...
Mr.Clean19 Posted March 25, 2020 Share Posted March 25, 2020 Frank's MDI site development has already started. He will is working from West to East it looks like. There are townhomes going up called Bayou Fifth which is the name for the whole development. Expect this to take the next 5-8 years to totally build out if the market gets better. 4 Quote Link to comment Share on other sites More sharing options...
Efkelly25 Posted March 25, 2020 Share Posted March 25, 2020 Sounds great! Is the bayou 5th project on the MDI site? 1 Quote Link to comment Share on other sites More sharing options...
ljchou Posted March 26, 2020 Share Posted March 26, 2020 There's a separate topic for Bayou 5th/MDI Supersite in the East End forum: 1 Quote Link to comment Share on other sites More sharing options...
JBTX Posted March 27, 2020 Share Posted March 27, 2020 On 3/23/2020 at 4:24 PM, JBTX said: Soil sample crews are back on site again. Interestingly, the Midway signs have been taken down. 5 Quote Link to comment Share on other sites More sharing options...
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