3737 Buffalo Speedway: 18-Story Office & 20-Story Boutique Hotel/Residential

[swtsig]

I alluded to this in the 2929 Wesleyan thread but now that bisnow referenced it this morning I figured it was ok to talk about. PM is redeveloping the solvay site by tearing down the existing bldg and replacing it w a hotel/condo and building a 20 story office next door. I can't confirm much re the hotel but it sounds like the office is moving forward and would assume the hotel is as well. Don't expect anything earth shattering architecturally speaking. Should be a nice addition regardless.

There are a few more projects proposed in the immediate area as well, some further along than others, but 3333 sounds like the closest thing to a guarantee.

[TexasGeneral]

This is good news, although I will be sad to see those old oak trees on the Solvay site get torn down.

[TexasGeneral]

I really think Richmond avenue between Buffalo Speedway and Kirby is prime for re-development. There are some old mid-rise offices and a large vacant lot both along Richmond and the 59 access road. Would be great to see some high rise residential.

[Fortune]

Great to see some new development in that area. That's a pretty large lot especially with them tearing down the existing 8 story building. Seems like they could fit more then two buildings on the site unless the two buildings will have large footprints.

[lockmat]

Nice. It was on the commission planning agenda a few weeks ago but I had no idea what they had planned.

Now you've really got me wondering about your "80 story building instead of two 40 story towers" in some other thread. Hint or pure curiosity?

Edited November 21, 2012 by lockmat

[wxman]

New 20-story hotel and apartment tower planned for the corner of Buffalo Speedway and Richmond!

http://swamplot.com/tall-hotel-and-company-will-park-by-greenway-plaza/2012-11-21/

[fatesdisastr]

There are some nice trees on this lot. I hope they are able to save some of them.

[Geoff8201]

This one gives me mixed feelings...

On one hand you have a new 20 story property... would be nicer if it were 30 stories... if you're going to build it make it stand out. Hopefully it will in the architecture.

But then on the other... this is a nice little green space that would be lost. What is the driving factor to warrent the need for another hotel in this area?

[Texasota]

Yeah that grove is amazing. It's a large site though, plenty of room to build the hotel and keep the trees. Not that I expect that, but it's certainly possible.

[lockmat]

Is that even a public green space?

[Triton]

On one hand you have a new 20 story property... would be nicer if it were 30 stories... if you're going to build it make it stand out. Hopefully it will in the architecture.

I certainly agree that it would be cool to see 30 stories. Hell, let's make it 80 stories. That would be pretty awesome too. But based on cost, demand, location, etc. the developers of this hotel determined that 20 stories on this green space would be best for them in this market. And since they are probably targeting functionality, it will probably be an average looking hotel. Not trying to be pessimistic, just realistic. I mean, hopefully I'm wrong on the architecture front but all the construction and proposals that we've seen have simply been for functionality purposes in a growing Houston market with impressive architecture being achieved only if the company has the money. The only exception I can think of at the moment is the proposed convention hotel near Discovery Green. So while it would be cool to see this thing be iconic or something, I think it will likely be just an average building. Either way, it's still great to see more projects in the Houston area nonetheless.

[Fortune]

Yeah that grove is amazing. It's a large site though, plenty of room to build the hotel and keep the trees. Not that I expect that, but it's certainly possible.

I agree it is a large site I don't see the 20 story hotel and the office building taking up that entire site especially since they plan on tearing down the 8 story building on the site. So maybe they will leave the green space or atleast some of the trees. Two buildings won't take up that large of a lot unless thy have very large footprints which I doubt.

[wxman]

I agree it is a large site I don't see the 20 story hotel and the office building taking up that entire site especially since they plan on tearing down the 8 story building on the site. So maybe they will leave the green space or atleast some of the trees. Two buildings won't take up that large of a lot unless thy have very large footprints which I doubt.

It's only one building going up. It's a hotel/apartment building---mix use if you will.

[Fortune]

It's only one building going up. It's a hotel/apartment building---mix use if you will.

No if you look at the post on Swamplot as well as the original article it says that plans for the site also include 400,000 sq ft of office space.

Also a thread was already started for this topic on HAIF.

[SkylineView]

This is 100% office-based occupancy. The Renaissance pulls in some extra business with the church, Rice, and Qantas flight attendants (yum) but realistically this will be filled with business use. The site today is not used as a public space, and the corner, in general, could use some love. As someone who goes through there every day, I support this. My only complaint (if you could call it one) is that this isn't happening on the NORTH side of Richmond, which is a site waiting for a bulldozer.

[Fortune]

This is 100% office-based occupancy. The Renaissance pulls in some extra business with the church, Rice, and Qantas flight attendants (yum) but realistically this will be filled with business use. The site today is not used as a public space, and the corner, in general, could use some love. As someone who goes through there every day, I support this. My only complaint (if you could call it one) is that this isn't happening on the NORTH side of Richmond, which is a site waiting for a bulldozer.

I agree that huge parking lot in front of that building bothers me every time I pass by it.

[swtsig]

This is 100% office-based occupancy. The Renaissance pulls in some extra business with the church, Rice, and Qantas flight attendants (yum) but realistically this will be filled with business use. The site today is not used as a public space, and the corner, in general, could use some love. As someone who goes through there every day, I support this. My only complaint (if you could call it one) is that this isn't happening on the NORTH side of Richmond, which is a site waiting for a bulldozer.

There are redevelopment plans for the NWC of Richmond and buffalo speedway although I heard they recently stalled.

[Fortune]

Oh wow I hate to hear that the redevelopment plans stalled. Any idea why they stalled ? It's good to hear that the site is on the radar for redevelopment though. Hopefully the plans will move forward soon. Do you happen to have any details about the redevelopment ?

[swtsig]

no details other than it is/was planned mixed-use. another developer has a multi-phase office-heavy mixed-use (how's that for hyphen usage!) development planned further east on richmond as well.

[TexasGeneral]

no details other than it is/was planned mixed-use. another developer has a multi-phase office-heavy mixed-use (how's that for hyphen usage!) development planned further east on richmond as well.

Does "office-heavy" mean a new tower?

[swtsig]

Does "office-heavy" mean a new tower?

Yes.

[swtsig]

mods, this thread should probably be combined w the 3333 Richmond thread.

[lockmat]

no details other than it is/was planned mixed-use. another developer has a multi-phase office-heavy mixed-use (how's that for hyphen usage!) development planned further east on richmond as well.

Its somewhat historically significant architecture. Some will be upset if it is torn down.

[TexasGeneral]

Yes.

Any details you can provide on height of the office tower? Are we talking 10 floors, 20 floors, 30 floors?

[Fortune]

And the location ?

[swtsig]

18 stories, approx. 400K sf with ground level retail, looks remarkably similar to BBVA on post oak.

[wxman]

Is anybody a subscriber? There's a story on this development in the Chron...

http://www.houstonchronicle.com/business/real-estate/article/Inner-Loop-site-to-be-redeveloped-4071822.php

[Fortune]

Well a lot of people will be happy that the oaks are staying on the site.

[fatesdisastr]

I know I'm happy about the Oaks. Can anyone grab the rendering from Chron?

[Subdude]

mods, this thread should probably be combined w the 3333 Richmond thread.

Done.

Thanks

Sub

[DrLan34]

http://blog.chron.com/primeproperty/2012/11/new-development-to-transform-inner-city-site/

[Geoff8201]

The Front page Chronicle article was very informative... So there will be TWO buildings, an 18 story office (coming first), and the 20 story hotel/250 upper level apartments (thats a lot of units) ... plus they are going to preserve most of the oaks on the NW corner of the site. Don't think we can ask for more here...

[kdog08]

So are they tearing down the office building on the site?

[wxman]

Tada!

[fatesdisastr]

So are they tearing down the office building on the site?

That is the plan

[Geoff8201]

So are they tearing down the office building on the site?

From my understanding the order of things to come will be:

1. Build new office building

2. Teardown existing building

3. Build hotel/apartments where the old building sat

[Fortune]

So is there a rendering for the hotel/apartments ?

[lockmat]

Looks Westchasish

[rsb320]

Looks Westchasish

Exactly. Nancy of chron.com calls it flashy. Um, I call it flashNOT.

[swtsig]

from what i've been told the hotel/condo plans are not set in stone.

[bluecar(a.f.f.)]

An appropriate moniker for the rendered building would be Two-Face. Or maybe that's just me...

250 units is not a lot and could easily fit in a mid-rise. Though, I think pushing the building higer would help to enhance the Greenway Plaza epicenter. And, who knows, may inspire someone to resurrect the Greenway movie theater.

Edited November 29, 2012 by bluecar(a.f.f.)

[hoothrewpoo]

I've heard the same. The developer is looking for an operator of the hotel/condo before moving forward. There are also a couple of different options for number of stories (for both buildings) being discussed.

from what i've been told the hotel/condo plans are not set in stone.

[hoothrewpoo]

just an update... it sounds like the physical address of the building(s) has changed from 3333 Richmond - to 3737 Buffalo Speedway. My understanding is both phases (hotel/condo and office building) are moving forward.

[capnmcbarnacle]

FWIW, crews have been onsite drilling different locations on the property for the last couple days -- soil samples maybe?

[ClutchCity]

http://www.bisnow.com/commercial-real-estate/houston/pmrgs-bets-big-on-spec-office/

 

The article gives a little bit of information on it but not a whole lot.

[hoothrewpoo]

from the Bisnow email...

 

 

3737 Buffalo Speedway (rendered) will be the first major office development in Greenway in 25 years. It will be on land that PMRG and the Indure Fund (managed by National Real Estate Advisors) acquired when they purchased 3333 Richmond in November. The partnership will break ground on an 18-story, 400k SF tower this year: It's got 85k SF of pre-leasing (including Solvay America, which will relocate from 3333 Richmond) but is looking for a lead tenant to kick off construction. It's slated to complete mid-2015, and the team will demolish the old tower and build a hotel/mixed-use project there.

[lockmat]

Isnt the new building showing it pretty much the same location as the current one? It doesn't seem like the hotel mixed us project will leave many trees if any. Where will the current tenant go during construction?

Isnt the new building showing it pretty much the same location as the current one? It doesn't seem like the hotel mixed us project will leave many trees if any. Where will the current tenant go during construction?

[Texasota]

It looks like they're building on the site of the current surface parking lot.

[hoothrewpoo]

Isnt the new building showing it pretty much the same location as the current one? It doesn't seem like the hotel mixed us project will leave many trees if any. Where will the current tenant go during construction?

Isnt the new building showing it pretty much the same location as the current one? It doesn't seem like the hotel mixed us project will leave many trees if any. Where will the current tenant go during construction?

 

The new office tower will go up in the open area adjacent to the existing building. When the new office building is complete, the current tenant(s) will move into it, and the existing office building will be demolished. The residential/hotel building will sit where the existing office building is.

[Urbannizer]

Another rendering from the FB page of PM Realty Group: