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lockmat

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The cheapest available unit according to the leasing website is a 621 sq. ft. studio at $1,390.

 

Yup! But there's a catch, the studio unit is facing the garage. Literally, all you see is some sky from the balcony and an entire wall of parking garage.

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Good to know Skyhouse has some type of lighting on top. I know many will complain about light pollution, but I feel like downtown really does need more "cool" lighting. Back shortly after the recession, I remember downtown looking completely dead and dark. 

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Good to know Skyhouse has some type of lighting on top. I know many will complain about light pollution, but I feel like downtown really does need more "cool" lighting. Back shortly after the recession, I remember downtown looking completely dead and dark.

Modern 21st century cities have lighting. We need more lighting.

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Does anyone know what that means?

Is that a "awful", "bad", " average", "good", or "excellent" number? To me that seems a bit low for a "high demand" property. But I have zero experience in these matters.

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I don't know either. Belfiore was 75 percent, I think some of the luxury places are doing well. This is not a luxury building.

Where would you rather live in a high rise?

Memorial

Museum District

Uptown

Greenway

Upper Kirby

Downtown

I don't think Downtown is #1 on many peoples lists

Although it might be on mine if I had season tickets to the Astros and Rockets.

That is why they have the Urban Living Intiative in the first place.

Downtown has some cool stuff like sports, conventions and theater but does it have the other factors that make people want to live there such as lots of cool people, nightlife, energy, music etc?

Not yet, we all hope it is getting there. Maybe it will start with one or two great places and build from there.

You can't compare with Belfiore, which is a condo. Unlike apartments, condos require a high pre-sales percentage (would guess in the 40's or 50's these days) to get their construction financing; so developers spend a lot of money in pre sales before breaking ground.

On the other hand, apartments typically start preleasing only a few months before opening the first phase. In my experience, 25% prelease is actually quite high. Most apartments open with only about 20-30% of units available, so at 25% they are pretty much "sold-out" for phase 1.

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You can't compare with Belfiore, which is a condo. Unlike apartments, condos require a high pre-sales percentage (would guess in the 40's or 50's these days) to get their construction financing; so developers spend a lot of money in pre sales before breaking ground.

On the other hand, apartments typically start preleasing only a few months before opening the first phase. In my experience, 25% prelease is actually quite high. Most apartments open with only about 20-30% of units available, so at 25% they are pretty much "sold-out" for phase 1.

 

 

It probably also has to do with the construction delays.  I know when I first pre-leased back in January/February they were shooting to have the place open no later than June 1.  With the high demand for rental space, I know a lot of places weren't doing month to month lease extensions, so there were probably at least a few people that had to find somewhere else to live when the building wasn't ready on time and their current lease was expiring.

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  • 2 weeks later...

Any word on move ins?

I thought that the original target was June 1. Revised target? Or , are folks already moving in?

End of this month is when folks start moving in. There were some additional delays that pushed everything back. But this is supposed to be the last delay.
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Is the area/ "park" in question the portion to the south of Skyhouse? If so that's always been surface parking I believe. Or has been marked as so in the plans for quite a while. Though there was supposed to be some mini dog park area somewhere I thought?

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actually, things are now looking up a bit.  there is much more painting (earth tones) of the exposed cement than we anticipated.  this effect actually creates a warmer / cleaner feel throughout.  the completed exterior is actually growing upon me.. well done triton!

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Ah, so some people are "pollution."

Good to know.

Certain behaviors are social pollution. If 1 in 10 people smell like urine, people avoid the area. If 1 in 100, that's just city life. I challenge you to find a homelessness or mental illness advocacy organization that celebrates social isolation; mixing is good and dilution of antisocial behavior helps that to happen.

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Certain behaviors are social pollution. If 1 in 10 people smell like urine, people avoid the area. If 1 in 100, that's just city life. I challenge you to find a homelessness or mental illness advocacy organization that celebrates social isolation; mixing is good and dilution of antisocial behavior helps that to happen.

Have you ever been to New Orleans? It smells like urine, trash, or vomit on practically every corner with "homeless vagrants" rampant up and down the streets, but people still congregate in the city..

Edited by cloud713
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Have you ever been to New Orleans? It smells like urine, trash, or vomit on practically every corner with "homeless vagrants" rampant up and down the streets, but people still congregate in the city..

That's a prime example - the undesirable behavior is ignored because there's enough other activity to draw people there. Everyone will benefit if Houston can do the same downtown.

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  • 2 weeks later...

I want to know how well this fills up. Fast might mean more stuff for DT.

 

http://www.bisnow.com/commercial-real-estate/houston/2520-the-future-of-downtown/

 

"SkyHouse Houston's construction cam in 1301 Fannin caught this happenin' corner. Residents started moving into SkyHouse last month—we don't see anyone on that rooftop tennis court just yet, but Novare tells us it's ahead of schedule on leasing and meeting rent projections. (We hear it's asking about $2.50/SF.)" 

Edited by DrLan34
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What metrics should be used on:

1. Rentals

2. Condos

 

For example, do you say rentals will be successful if in 6 months they are 60 percent full and 90 percent full in 12 months? Or due to various prices for different floor plans another metric is used?

 

I would like to learn how this stuff is calculated so I can make a mental note of which towers are successful and which are not.

 

Also, is there a retailer(s) open in Skyhouse on the bottom or will there be? Just curious would like to hear how this much vaunted ground floor retail performs once it comes on line in a few dozen examples being completed soon.

 

I talked to a 30 something dude at the Dog Park yesterday about Texas, he was down for some training all summer in Houston and mentioned just doing a good walk for 20 minutes and he was always soaked by the time he arrived at his destination - a real problem with work clothes. I guess if I walk in DC from Metro Center to say the W Hotel Roof bar, that isn't a problem with urban canyons, trees, and shade to hide in all over the place.

 

We need to be strategic with our sidewalks, landscaping, and building overhangs to provide the best amount of shade - particularly downtown.  When walking in the heart of downtown, the shade from all the surrounding buildings really helps.

 

No GFR yet as I just walked by yesterday.  I am interested to know if anything is planned as well...

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