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The Southmore: Hines Museum District Highrise


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Swamplot is reporting that Hines is buying up property near the relatively new Asia Society Texas Center to construct a 20 to 22 story apartment tower.

 

 

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SOURCES are telling Swamplot that Hines is planning to build either a 20- or 22-story apartment tower on the block where this house stands in the Museum District. The house shown here is at the corner of Caroline and Southmore, across the street from theAsia Society Texas Center and just east of the light rail running along San Jacinto. A source says that 3 of the 4 property owners on the block have agreed to sell, and that Hines will be taking those properties over on July 1. And the source adds that Hines might go ahead and build around the holdout. As of this morning, there’s been no word from Hines — though a rep in an email writes: “No deal has been closed so it is too preliminary to discuss,” which sure makes it sound as though there is an “it.”

 

Swamplot article

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From yesterday...                

cant remember if anyone shared this pic on haif    

Now Leasing and now open with a valet service, I saw a family getting their car from valet so people are living here.  

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Looking at Google maps, there are four lots on that block.  The Swamplot article says three are part of the deal, so I'll speculate that the one in the picture is not part of the package (the others don't appear to be as desireable), it is the most photogenic.

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Looking at Google maps, there are four lots on that block.  The Swamplot article says three are part of the deal, so I'll speculate that the one in the picture is not part of the package (the others don't appear to be as desireable), it is the most photogenic.

 

The other three lots that may be part of the deal include a garden apartment dating back to 1923 appraised at $1.29M (SE corner), a residential duplex from 1923 appraised at half a million, and a converted commercial building from 1919 appraised at $875K. The newer 1996 house in the photo is appraised at $743K.

 

Hines must really see a lot of value in this specific block - maybe it's the proximity to the light rail? It is currently one of the prettier blocks in that part of town...I do kind of wish they could find a vacant lot or demolish a block of town homes instead.  

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The other three lots that may be part of the deal include a garden apartment dating back to 1923 appraised at $1.29M (SE corner), a residential duplex from 1923 appraised at half a million, and a converted commercial building from 1919 appraised at $875K. The newer 1996 house in the photo is appraised at $743K.

 

Hines must really see a lot of value in this specific block - maybe it's the proximity to the light rail? It is currently one of the prettier blocks in that part of town...I do kind of wish they could find a vacant lot or demolish a block of town homes instead.  

 

Yea it seems a little odd the block that they picked but I'm sure they calculated that this is the lot to build on. Such nice places to teardown too...

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It would be great to see the Museum District get a little more urban connectivity.  More retail and restaurants are desperately needed. In fact ,even the Cafe Express that is there (on Bissonnet) closes at 5 pm.

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I wonder why builders prefer to tear down buildings instead of building on already empty lots? I've seen plenty of empty lots around town and most of them have been vacant for some time.

 

They are probably vacant for a long time for a reason (the owners want too much damn money for a developer to buy it).  I don't think it's that developers prefer to tear down buildings.

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They are probably vacant for a long time for a reason (the owners want too much damn money for a developer to buy it).  I don't think it's that developers prefer to tear down buildings.

 

The price issue is probably the cause more times than not. Another is the inability to "locate" owners. Sometimes land is owned by trusts whose trustees and beneficiaries are hard to locate.

 

Developers will take the path of least resistance when it comes to acquiring land. For them too time can be just as important as money. In their world the two are one in the same.

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Houston-Museum-District-Caroline-and-Sou

Looks like Swamplot was onto something when it reported rumors that Houston-headquartered real estate company Hines was looking at a Museum District block for a 20- or 22-story apartment tower.

Though no plans have been finalized, George Lancaster, senior vice president of corporate communications for Hines, tells CultureMap that the company is considering the development of a "high-end residential multifamily project" on the land adjacent to the Asia Society Texas Center.

However, Lancaster explained, the developer definitely doesn't own the house pictured in Swamplot's post or the land under it. Swamplot said that three of the four property owners on the block bound by Caroline, Southmore, Oakdale and San Jacinto have agreed to sell.

"We respect the architectural quality of the new Asia Society building, and if we were to build something next door to it, it would be something great looking," said Lancaster, noting reverence for the striking museum structure designed by Japanese architect Yoshio Taniguchi.

"We also think the location, being proximate to the rail line and all those amazing cultural offerings, would be a fabulous and desirable place to live."

http://houston.culturemap.com/news/realestate/06-21-13-a-20-plus-story-luxury-apartment-tower-could-be-rising-next-to-asia-society-texas-center/

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You know what, I was looking really forward to this project until I realized what block they are building it on. I don't mean to be "that guy" and I've liked all of Hines projects but I really wish Hines wouldn't tear down these really nice old homes. I know there's nothing a person on a forum can do but like others have said it would have been great if they built this highrise on an abandoned lot or even a parking lot. It's a shame to see these old homes go:

 

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Again, I know that Spanish tiled home isn't going anywhere (right?) but that I'm going to miss that big ole 5 story home. It has always been nice to see it while riding my bike down Caroline.

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Whelp, looks like they are going to tear down that historic apartment building.... man.

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and more here:

http://www.houstonchronicle.com/business/real-estate/article/Houston-s-apartment-boom-focuses-on-urban-scene-4619878.php

i think i mentioned it before but Hines is very actively looking for core multifamily sites, here and elsewhere. hopefully we get some distinctive architecture out of it.

btw expect the final design of the cafe adobe site to be a value-engineered version of the original rendering.

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Awwww man. Why tear down these old homes? Why not an empty lot in midtown on fannin? Im sure theyve done their demographic homework but is 1-2 minutes closer to downtown a dealbreaker? Or are all those midtown empty lots owned by landholders trying to make a gazillion dollars off of their lot?

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I'm actually really happy that they are having to build around the old mansion. Kinda reminds me of another very Houston situation with the Asia House development process. I think what we will see is something along the lines of what Texas911 said best, "interesting architecture occurs at the boundary lines." 

 

 

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