Urbannizer

Development List for Buildings in Houston - March, 2014

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1 hour ago, Twinsanity02 said:

Census bureau July 2016 MSA  population estimates.   Houston  MSA 6,772,000 an increase of 125,000 people from 2015

 

It was interesting to read about Harris County, more than 16,000 people moved out but 50,000 more births than deaths and almost 30,000 foreign-born let it place second to Maricopa. The county is getting so large, Cook County, actually appears like we could catch it, if Maricopa doesn't pass us and take the number 2 spot behind LA first, they are always nipping at our heels.

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On 9/4/2014 at 10:08 AM, Houston19514 said:

It does appear that is what he said.  Understanding that he is in the business of marketing office space (so it's in his interest to exaggerate the scarcity) but still that seems like a wild exaggeration.   Even if you consider that he may have meant only three good office sites besides those already spoken for (so excluding the sites for 6 Houston Center, 5 Allen Center, 1500 Smith, Allen Center Clay Street, the 50-story Chevron tower, the adjacent block(s) owned by Chevron, Capitol Tower, One Market Square)... So excluding those 9 or so good office sites, are there really only 3 good office sites left in downtown Houston?

 

What about...

Block 142 (Milam, Louisiana, Walker, McKinney)

Block 97 (Rusk, Walker, LaBranch, Austin)

Block 251 (Lamar, Dallas, LaBranch, Austin), which would in turn open up 275 and 276, which would  in turn open up 291 and 292

Block 319 (Clay, Bell, Milam, Travis)

Block 318 (Clay, Bell, Travis, Main)

Block 317 (Clay, Bell, Fannin, Main)

Block 335 (Bell, Leeland, Travis, Main)

Block 352 (Leeland, Pease, Travis, Milam)?

 

And that's without getting into blocks that are/will be candidates for tear-downs (e.g. Block 257).

 

Too bad this Chevron building in dead. 

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On ‎10‎/‎16‎/‎2017 at 10:53 AM, txtiger said:

 

Marquette 24 story building planned to start 2Q 2018... was there some news on that that I missed? Did they get their financing?

 

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4 hours ago, H-Town Man said:

 

Marquette 24 story building planned to start 2Q 2018... was there some news on that that I missed? Did they get their financing?

 

 

I haven't seen anything either. Last I recall hearing was that it was dormant and they re-paved the block.

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22 minutes ago, Nate99 said:

 

I haven't seen anything either. Last I recall hearing was that it was dormant and they re-paved the block.

 

Ok, in the January map they had the start date as 1Q 2017, so it looks like they bump it up every once in awhile.

 

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All these areas are available for high rise development if I'm not mistaken, wouldn't it be great if they all happened we could have our mini version of Central Park. Anyone else know of any properties around the bayou not included here?

 

39348228522_38746da39b_h.jpgfullsizeoutput_2197 by David, on Flickr

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4 hours ago, hindesky said:

All these areas are available for high rise development if I'm not mistaken, wouldn't it be great if they all happened we could have our mini version of Central Park. Anyone else know of any properties around the bayou not included here?

 

39348228522_38746da39b_h.jpgfullsizeoutput_2197 by David, on Flickr

Available like lot is up for sale? Or unannounced plans?

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WSJ today says $80 per barrel oil possible this year due to rising demand. Todays price is $64. That has to be good for Houston getting new buildings out of the ground - Market Square anyone? If it goes even higher will Hines pull the trigger on the parking lot?

Edited by Timoric
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I'm hoping to see some brand new proposals soon as quite a few of the buildings proposed in the last building cycle has been built/ under construction.

The market isn't back yet for office and we have had so many wonderful conversions to hotel I think we due for some more residential towers as the Discovery Green and Root Square towers are getting off the ground the proposed list is getting slim.

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3 hours ago, Timoric said:

I read on here that Miami would pass Houston for number of skyscrapers, looks like that has happened now.  Definition is 490 feet +

 

https://www.worldatlas.com/articles/us-cities-with-the-most-skyscrapers.html

 

 

tall buildings.jpg

 

Houston has at least 40 buildings at that height and above.  As with many of these rankings, it depends on what you measure.  Why 490 feet (150 Meters)?  Why not 200 meters (656 feet)?  If we use that as the cutoff, Miami has 4 buildings and Houston has 15.

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On 12/29/2017 at 5:16 PM, hindesky said:

All these areas are available for high rise development if I'm not mistaken, wouldn't it be great if they all happened we could have our mini version of Central Park. Anyone else know of any properties around the bayou not included here?

 

39348228522_38746da39b_h.jpgfullsizeoutput_2197 by David, on Flickr

 

The lot on Jackson Hill is becoming an "Inner Loop City Centre" and the one off Gillette is the one by the Chinese developer that contains 3 towers I thought. Additionally, there was a tower just north of Spotts Park but I think it may have been placed on hold or cancelled entirely. Dunvaly and Dallas is Regent Square.  The odd shaped one where KHOU used to be on Stanford has been bought by SCI and they may be expanding of some sort soon.

Northbank (Jackson Hill) - http://forum.skyscraperpage.com/showthread.php?t=216569

The Allen (Gillette) - http://swamplot.com/your-best-look-yet-at-the-shiny-high-rises-fitting-between-allen-parkway-village-and-the-federal-reserve/2017-12-04/

Spotts Park - https://www.houstonchronicle.com/business/columnists/sarnoff/article/High-end-office-building-underway-west-of-downtown-5920360.php

Regent Square - http://regentsquarehouston.com/

Edited by pm91

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So just some inside info.

 

I'm hearing about a lot of contractors who are pushing architects who are then pushing clients to activate projects as soon as they can. Contractors are getting a bit spooked by the upcoming tariffs on steel and aluminum.

 

While the market has been great and is asking for more construction, I think the upcoming tariffs are possibly pushing people into build mode now while costs are lower and the boom is on.

 

What happens when the tariffs take full effect? Any buddies guess. I think we might experience a quick slow down, but will go to normal building mode afterwards.

 

Anybody else been hearing the same kind of things? Anybody have an opinion about the tariffs and what that might do to the market?

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Can't help to think that a lot of projects will be shelved for a while To see if the market can correct itself.  If not, projects will be "adjusted". But, no way that tariffs like these will help the construction industry.  

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I wonder if we’re seeing a stall with our tiangqing buddies on The Allen due to these issues...

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Not necessarily an "update", but Google just updated their maps. It now includes a lot of the recent developments that have happened in town over the past couple years. In particular its fun now seeing things like Mid Main and MATCH now officially in the satellite images. A lot of the stuff around Minute Maid park is also filled in. Seems like the images were taken this past summer. I'm assuming this is the case because, for example, the new urban HEB on Washington and Heights Blvd is just starting to have its foundation poured which happened earlier this summer.

Edited by Luminare

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Seems they haven't fully rolled out that new imagery yet.  Google Earth is still not allowing dates after 10/2017 to be chosen, and in Google Maps for me, when the "globe" mode is turned off, it still only shows the 10/2017 imagery.  With "globe" mode on, Google Maps still shows the even older, undated (but apparently late 2014 from construction status) imagery.

 

Can you post a screenshot of the new imagery?  As you can see, for me it's still showing the 10/2017 imagery (Midtown shown here), which has been online since at least this spring:

 

https://i.imgur.com/8cWWiaK.jpg

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On 12/21/2018 at 6:09 PM, hindesky said:

Updated my little map of potential lots for development.

45688575344_c90d08366b_k.jpgAD9427DA-D401-4365-8D29-EEEE62E4B98F by David, on Flickr

The question I have with one year left in the 2010s is will we beat the what, 80M square feet constructed in the 1980s?

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Does it seem fair to say we are in another real estate boom here? I remember a lot of forecast back in 2014 and 2015 (especially here at CBRE) saying 2019 was the big year for recovery in the Houston market ever since the downturn in the oil market. Those discussions are probably even in this forum. The development this time seems to be throughout the city. Downtown doesn't seem to be getting as much love but I'm sure the Downtown Living Initiative played a major role in that in the last boom.

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3 hours ago, Triton said:

Does it seem fair to say we are in another real estate boom here? I remember a lot of forecast back in 2014 and 2015 (especially here at CBRE) saying 2019 was the big year for recovery in the Houston market ever since the downturn in the oil market. Those discussions are probably even in this forum. The development this time seems to be throughout the city. Downtown doesn't seem to be getting as much love but I'm sure the Downtown Living Initiative played a major role in that in the last boom.

 

If we had to list the top 10 big time developments that are kicking off this year or finishing, etc... What would they be in y'alls opinion?

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On 1/9/2019 at 11:23 PM, Urbannizer said:

Found some renderings of a mixed-use project by Gensler.

 

http://terraloom.com/

 

GENSLER_Houston_1_Full.jpg

 

GENSLER_Houston_2_Full.jpg

This is just conceptual and not an actual build right?

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On 1/9/2019 at 11:23 PM, Urbannizer said:

Found some renderings of a mixed-use project by Gensler.

 

http://terraloom.com/

 

GENSLER_Houston_1_Full.jpg

 

GENSLER_Houston_2_Full.jpg

This is just conceptual and not an actual build right?

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43 minutes ago, pablog said:

This is just conceptual and not an actual build right?

 

Probably, yeah. Two giveaways, lots of curves and foliage.

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1 hour ago, lockmat said:

 

Probably, yeah. Two giveaways, lots of curves and foliage.

 

haha kinda, but not really. Now if it was all roof top gardens then maybe.

 

More like click the link. This is from a architecture visualization office. Notice the tag line about "digital storytelling". They exist to help put to page grand visions when they need to be farmed out to others out of office. Its pretty common actually.

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7 hours ago, Luminare said:

 

If we had to list the top 10 big time developments that are kicking off this year or finishing, etc... What would they be in y'alls opinion?

 

Great question....so many to choose from. My favorites would be:

 

1 - TMC Research Campus 

2 - Sears building conversion to Houston's Innovation District

3 - MFAH expansion project

4 - Cayden's 3 towers for midtown

5 - McNair mixed use at Post Oak & Richmond (former design by Munoz + Albin)

6 - Hanover mixed use at 3540 W. Dallas

7 - Block 58 - Hines 47 story office building on old Houston Chronicle site

8 - The Allen mixed use at Allen Pkwy & Gillette

9 - Capital Tower (hoping street interaction will be as good as advertised)

10 - HSPVA

 

Honorable mentions:

 

3300 Main

Block 42 - Hines 46 story residential tower

The RO at West Alabama & Buffalo Speedway

Equinox Hotel and the residential tower in ROD

Medistar 48 story mixed use tower in the med center

The Driscoll (Hanover)

Hanover Post Oak

40 story residential at 1660 Post Oak

Hanover River Oaks

La Colombe d'Or Hotel in Montrose

 

* Would love to see the Grocers Supply, 7200 Main and Kingwood Herons projects happen.....but unless I'm missing something (which is quite possible, if not straight up "probable"), it seems like none of these are realistic in terms of happening this year.

 

That's my "10."

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I agree pretty much fully with your post. However I'd put the KBR site by Midway in the top ten. Other than that its pretty much exactly what I'd put.  

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2 hours ago, jmitch94 said:

I agree pretty much fully with your post. However I'd put the KBR site by Midway in the top ten. Other than that its pretty much exactly what I'd put.  

 

LOL I knew I was forgetting at least one.

 

Good catch!

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8 hours ago, por favor gracias said:

 

Great question....so many to choose from. My favorites would be:

 

1 - TMC Research Campus 

2 - Sears building conversion to Houston's Innovation District

3 - MFAH expansion project

4 - Cayden's 3 towers for midtown

5 - McNair mixed use at Post Oak & Richmond (former design by Munoz + Albin)

6 - Hanover mixed use at 3540 W. Dallas

7 - Block 58 - Hines 47 story office building on old Houston Chronicle site

8 - The Allen mixed use at Allen Pkwy & Gillette

9 - Capital Tower (hoping street interaction will be as good as advertised)

10 - HSPVA

 

Honorable mentions:

 

3300 Main

Block 42 - Hines 46 story residential tower

The RO at West Alabama & Buffalo Speedway

Equinox Hotel and the residential tower in ROD

Medistar 48 story mixed use tower in the med center

The Driscoll (Hanover)

Hanover Post Oak

40 story residential at 1660 Post Oak

Hanover River Oaks

La Colombe d'Or Hotel in Montrose

 

* Would love to see the Grocers Supply, 7200 Main and Kingwood Herons projects happen.....but unless I'm missing something (which is quite possible, if not straight up "probable"), it seems like none of these are realistic in terms of happening this year.

 

That's my "10."

 

Great list. Pretty much agree with it. However, some addendum's with explanation:

 

1 - TMC Research Campus 

2 - Sears building conversion to Houston's Innovation District

3 - MFAH expansion project

4 - Cayden's 3 towers for midtown

5 - Block 58 - Hines 47 story office building on old Houston Chronicle site + Block 42 - Hines 46 story residential tower

6 - Hanover mixed use at 3540 W. Dallas + The Allen mixed use at Allen Pkwy & Gillette (Allen Pkwy Major Developments)

7 - McNair mixed use at Post Oak & Richmond (former design by Munoz + Albin)

8 - KBR / East River Site

9 - Upper Kirby / Greenway Major Developments: The RO, Hanover Post Oak, etc...

10 - Major Infrastructure Overhauls: 59/45 Reconstruction + Downtown Greenbelt + Bayou Canal, The Blvd Project, Lower Westheimer Project, METRO Next (even though it leaves a lot to be desired. Its still something), HSR Station at Mall Site.

 

Honorable Mentions:

 

Westcreek Lane Major Developments: Hotel and Residential Tower ROD

HSPVA

Captial Tower

3rd Ward Major Developments

Jones Plaza + Bagby Street Redevelopment

Memorial Park Redevelopment

 

Instant Top Ten if announced/revived/updated renders/boots on the ground:

 

Post HTX

Regent Square

Grocery Supply Site

 

 

 

For me, Projects that don't immediately have boots on the ground moving dirt fall in the list, for now. Projects like McNair, KBR, and the Allen Pkwy Major Developments fall short because they still haven't kicked off, but make the list due to future impact. This moves up Hines developments in town because they are hauling a$$.

 

Yes, some of these infrastructure projects might not get fully off the ground or finish this year, but it can not be denied just how major these projects will be for the city and so they have to make the list.

 

HSPVA and Capital Tower, while important completed projects, in a big potential development year like this will pale in comparison. However, I think we will see impact from this projects soon.

 

3rd Ward. Call it a hunch, but I think this district takes off in a profound way this and next year. Market forces seem to be pushing that way.

 

Park development could jump into the list if we start seeing dirt moving. Both listed in Honorable have major impact potential.

 

The final three, are the usual suspects, but all they need is a major update to jump back in.

 

Its interesting thinking on all of these developments and you forget just how many high profile projects are about to go off. Just to many to potentially fit into a Top Ten. Really exciting. Its why I can justify lumping whole areas together because there is major concentrations of development happening everywhere right now.

 

EDIT: I think what would be interesting is if someone had a smaller more local project in a top ten and can justify it. Not a skyscraper or massive site, but a smaller project that might be top ten worthy simply due to impact community wise.

Edited by Luminare
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5 hours ago, Luminare said:

 

Great list. Pretty much agree with it. However, some addendum's with explanation:

 

1 - TMC Research Campus 

2 - Sears building conversion to Houston's Innovation District

3 - MFAH expansion project

4 - Cayden's 3 towers for midtown

5 - Block 58 - Hines 47 story office building on old Houston Chronicle site + Block 42 - Hines 46 story residential tower

6 - Hanover mixed use at 3540 W. Dallas + The Allen mixed use at Allen Pkwy & Gillette (Allen Pkwy Major Developments)

7 - McNair mixed use at Post Oak & Richmond (former design by Munoz + Albin)

8 - KBR / East River Site

9 - Upper Kirby / Greenway Major Developments: The RO, Hanover Post Oak, etc...

10 - Major Infrastructure Overhauls: 59/45 Reconstruction + Downtown Greenbelt + Bayou Canal, The Blvd Project, Lower Westheimer Project, METRO Next (even though it leaves a lot to be desired. Its still something), HSR Station at Mall Site.

 

Honorable Mentions:

 

Westcreek Lane Major Developments: Hotel and Residential Tower ROD

HSPVA

Captial Tower

3rd Ward Major Developments

Jones Plaza + Bagby Street Redevelopment

Memorial Park Redevelopment

 

Instant Top Ten if announced/revived/updated renders/boots on the ground:

 

Post HTX

Regent Square

Grocery Supply Site

 

 

 

For me, Projects that don't immediately have boots on the ground moving dirt fall in the list, for now. Projects like McNair, KBR, and the Allen Pkwy Major Developments fall short because they still haven't kicked off, but make the list due to future impact. This moves up Hines developments in town because they are hauling a$$.

 

Yes, some of these infrastructure projects might not get fully off the ground or finish this year, but it can not be denied just how major these projects will be for the city and so they have to make the list.

 

HSPVA and Capital Tower, while important completed projects, in a big potential development year like this will pale in comparison. However, I think we will see impact from this projects soon.

 

3rd Ward. Call it a hunch, but I think this district takes off in a profound way this and next year. Market forces seem to be pushing that way.

 

Park development could jump into the list if we start seeing dirt moving. Both listed in Honorable have major impact potential.

 

The final three, are the usual suspects, but all they need is a major update to jump back in.

 

Its interesting thinking on all of these developments and you forget just how many high profile projects are about to go off. Just to many to potentially fit into a Top Ten. Really exciting. Its why I can justify lumping whole areas together because there is major concentrations of development happening everywhere right now.

 

EDIT: I think what would be interesting is if someone had a smaller more local project in a top ten and can justify it. Not a skyscraper or massive site, but a smaller project that might be top ten worthy simply due to impact community wise.

Don’t forget Heights MKT, Buffalo Heights District, and Heights Waterworks and Lower Heights District. All mixed use sites. 

Edited by j_cuevas713
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5 hours ago, Luminare said:

10 - Major Infrastructure Overhauls: 59/45 Reconstruction + Downtown Greenbelt + Bayou Canal, The Blvd Project, Lower Westheimer Project, METRO Next (even though it leaves a lot to be desired. Its still something), HSR Station at Mall Site.

To this list I'd add Caroline Street Reconstruction.
(btw, does anyone know if the final plan and rendering is available online? My understanding is that the preliminary imagining of the project has been scaled back somewhat.)

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6 hours ago, Luminare said:

 

Great list. Pretty much agree with it. However, some addendum's with explanation:

 

1 - TMC Research Campus 

2 - Sears building conversion to Houston's Innovation District

3 - MFAH expansion project

4 - Cayden's 3 towers for midtown

5 - Block 58 - Hines 47 story office building on old Houston Chronicle site + Block 42 - Hines 46 story residential tower

6 - Hanover mixed use at 3540 W. Dallas + The Allen mixed use at Allen Pkwy & Gillette (Allen Pkwy Major Developments)

7 - McNair mixed use at Post Oak & Richmond (former design by Munoz + Albin)

8 - KBR / East River Site

9 - Upper Kirby / Greenway Major Developments: The RO, Hanover Post Oak, etc...

10 - Major Infrastructure Overhauls: 59/45 Reconstruction + Downtown Greenbelt + Bayou Canal, The Blvd Project, Lower Westheimer Project, METRO Next (even though it leaves a lot to be desired. Its still something), HSR Station at Mall Site.

 

Honorable Mentions:

 

Westcreek Lane Major Developments: Hotel and Residential Tower ROD

HSPVA

Captial Tower

3rd Ward Major Developments

Jones Plaza + Bagby Street Redevelopment

Memorial Park Redevelopment

 

Instant Top Ten if announced/revived/updated renders/boots on the ground:

 

Post HTX

Regent Square

Grocery Supply Site

 

 

 

For me, Projects that don't immediately have boots on the ground moving dirt fall in the list, for now. Projects like McNair, KBR, and the Allen Pkwy Major Developments fall short because they still haven't kicked off, but make the list due to future impact. This moves up Hines developments in town because they are hauling a$$.

 

Yes, some of these infrastructure projects might not get fully off the ground or finish this year, but it can not be denied just how major these projects will be for the city and so they have to make the list.

 

HSPVA and Capital Tower, while important completed projects, in a big potential development year like this will pale in comparison. However, I think we will see impact from this projects soon.

 

3rd Ward. Call it a hunch, but I think this district takes off in a profound way this and next year. Market forces seem to be pushing that way.

 

Park development could jump into the list if we start seeing dirt moving. Both listed in Honorable have major impact potential.

 

The final three, are the usual suspects, but all they need is a major update to jump back in.

 

Its interesting thinking on all of these developments and you forget just how many high profile projects are about to go off. Just to many to potentially fit into a Top Ten. Really exciting. Its why I can justify lumping whole areas together because there is major concentrations of development happening everywhere right now.

 

EDIT: I think what would be interesting is if someone had a smaller more local project in a top ten and can justify it. Not a skyscraper or massive site, but a smaller project that might be top ten worthy simply due to impact community wise.

 

Damn, I like your list more than mine now. I can't believe Post HTX and KBR/East River sites didn't come to mind for me, but you're right....there are so many justifiable candidates for this list. It's a very exciting time for our city, no doubt. I love how Houston has invested more and more into downtown over the last couple of decades. It's already a sea change in atmosphere since then, and it's only going to get better over time (at least for those of us who want a more urban atmosphere).

 

Could not agree more with your take on McNair, KBR and Allen Pkwy developments, as well as HSPVA and Capital Tower. They made my list because I like their individual impacts downtown (again, hoping that the street/tunnel interaction is as good as advertised for the Capital Tower). I made my list based on the "criteria" of projects that have their own thread on this site, but I like how you alluded to lumping certain areas together. That allows for more room elsewhere for a seemingly more and more prestigious list by the day. Again....lots of deserving candidates.

 

The 59 reconstruction project might have the biggest impact of all outside of TMC Research. It's going to have an enormous "trickle-down" impact on future development around the upcoming Innovation District and the Convention Center areas. Is the Pierce Elevated scheduled to be demolished? I sure hope so....excited to watch all of these projects unfold.

Edited by por favor gracias
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1 hour ago, por favor gracias said:

 

Damn, I like your list more than mine now. I can't believe Post HTX and KBR/East River sites didn't come to mind for me, but you're right....there are so many justifiable candidates for this list. It's a very exciting time for our city, no doubt. I love how Houston has invested more and more into downtown over the last couple of decades. It's already a sea change in atmosphere since then, and it's only going to get better over time (at least for those of us who want a more urban atmosphere).

 

Could not agree more with your take on McNair, KBR and Allen Pkwy developments, as well as HSPVA and Capital Tower. They made my list because I like their individual impacts downtown (again, hoping that the street/tunnel interaction is as good as advertised for the Capital Tower). I made my list based on the "criteria" of projects that have their own thread on this site, but I like how you alluded to lumping certain areas together. That allows for more room elsewhere for a seemingly more and more prestigious list by the day. Again....lots of deserving candidates.

 

The 59 reconstruction project might have the biggest impact of all outside of TMC Research. It's going to have an enormous "trickle-down" impact on future development around the upcoming Innovation District and the Convention Center areas. Is the Pierce Elevated scheduled to be demolished? I sure hope so....excited to watch all of these projects unfold.

Lists are good, the World Book Almanac list of tall buildings by city was a favorite as a kid, Houston had lots of new ones in the 80s

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6 hours ago, Timoric said:

Lists are good, the World Book Almanac list of tall buildings by city was a favorite as a kid, Houston had lots of new ones in the 80s

 

In that case, we might be soulmates. All those years and I thought I was the only one...

 

I remember the building height stopped at 450 feet for Houston, but other cities had buildings listed at 400 ft. Not sure if it's still the case, but I always felt like despite Houston having the 3rd largest "list," we were being somewhat shafted by their seemingly subjective criteria. Then again, I was like 12.

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On 1/31/2019 at 2:25 PM, Timoric said:

Lists are good, the World Book Almanac list of tall buildings by city was a favorite as a kid, Houston had lots of new ones in the 80s

Loved reading the Almanac myself. Full of information and yes I would read the section on skyscrapers, populations etc.

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There is a seriously large amount of development going on right now. Multi family seems to be exploding. I’m almost worried that it’s a bubble. Oil hit $55 this week and people in the know seem to think it will keep rising for now. If we’re seeing this at $50-$55 Imagine if we get to $80 this year. 

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There is a seriously large amount of development going on right now. Multi family seems to be exploding. I’m almost worried that it’s a bubble. Oil hit $55 this week and people in the know seem to think it will keep rising for now. If we’re seeing this at $50-$55 Imagine if we get to $80 this year. 

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10 hours ago, jgriff said:

 Oil hit $55 this week and people in the know seem to think it will keep rising for now. If we’re seeing this at $50-$55 Imagine if we get to $80 this year. 

 

I don’t think anybody is expecting oil to go much highe that the mid $60s anytime soon.

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20 hours ago, jgriff said:

There is a seriously large amount of development going on right now. Multi family seems to be exploding. I’m almost worried that it’s a bubble. Oil hit $55 this week and people in the know seem to think it will keep rising for now. If we’re seeing this at $50-$55 Imagine if we get to $80 this year. 

 

I can understand your position here, but an quickening pace of multifamily development doesn't mean a bubble. Not if we look at the numbers and context.

 

I think the most obvious building bubble is China for instance. Lots of building and development, but very low occupancy rates, and once the buildings are built its hard for people to afford to move into them.

 

If we look at Houston. Lots of building and development, but occupancy rates are very high nearly 95%, and people can afford to move into these new developments.

 

A bubble happens when everything is produced due to speculation that a demand will happen. The opposite is true when everything is being produced due to real time demand.

 

The fact that we are seeing massive developments getting the green light at $50 a barrel for oil shows how much more robust the Houston market has become when people only expected development to hit this city whenever oil was above $100 a barrel.

 

Again, I understand your position. Its healthy skepticism, but the numbers just don't indicate as anything other than developers seeing a massive demand when occupancy rates are so high and people can afford to move into to new developments.

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6 hours ago, Luminare said:

 

I can understand your position here, but an quickening pace of multifamily development doesn't mean a bubble. Not if we look at the numbers and context.

 

I think the most obvious building bubble is China for instance. Lots of building and development, but very low occupancy rates, and once the buildings are built its hard for people to afford to move into them.

 

If we look at Houston. Lots of building and development, but occupancy rates are very high nearly 95%, and people can afford to move into these new developments.

 

A bubble happens when everything is produced due to speculation that a demand will happen. The opposite is true when everything is being produced due to real time demand.

 

The fact that we are seeing massive developments getting the green light at $50 a barrel for oil shows how much more robust the Houston market has become when people only expected development to hit this city whenever oil was above $100 a barrel.

 

Again, I understand your position. Its healthy skepticism, but the numbers just don't indicate as anything other than developers seeing a massive demand when occupancy rates are so high and people can afford to move into to new developments.

I remember when Houston had more single family home starts than the state of California several years back. It seems to me that if 50,000 of those buyers want urban experience - it is not a problem for a metro of 7 million and growing over 100K every year. Right?

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4 hours ago, Timoric said:

I remember when Houston had more single family home starts than the state of California several years back. It seems to me that if 50,000 of those buyers want urban experience - it is not a problem for a metro of 7 million and growing over 100K every year. Right?

 

Speaking of housing... Now that was a bubble. Speculative demand and building practices + people not being able to afford them unless they picked up even more speculative and risky mortgages.

 

Multi-family is a more sound investment because its not all your money on just one building for one family, but many many families in one building. I also don't forsee people taking out loans or putting down a mortgage for a lease on an apartment. An apartment (even in more expensive cities than Houston) is meant to be easier for entry than a single family house.

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On 7/20/2018 at 10:25 AM, pm91 said:

Additionally, there was a tower just north of Spotts Park but I think it may have been placed on hold or cancelled entirely.



It's back on. From Houston Business Journal today

 

Houston Endowment Inc. closed on 1.5 acres near Buffalo Bayou and Memorial where it will build its new office.
 

The organization bought land at 3615 – 3683 Willia St., near the intersection of Memorial and Waugh on a site that overlooks Spotts Park. The seller and financial terms were not disclosed.

Houston Endowment will relocate from its current office on the 64th floor of the JPMorgan Chase Tower at 600 Travis St. once construction is completed.
 

Ann Stern, president and CEO of Houston Endowment Inc., told the Houston Business Journal that while this project is still in its earliest stages, the nonprofit hopes to occupy its new office building by around 2022.
 

Houston Endowment will build a 35,000- to 40,000-square-foot, single-use office space on the site. Stern said that an architect to design the new space has not yet been selected, but San Francisco-based Gensler helped Houston Endowment in assessing various locations in Houston during its land search, according to a Feb. 7 release from Houston Endowment.

https://www.bizjournals.com/houston/news/2019/02/07/houston-endowment-buys-buffalo-bayou-land-near.html

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