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I just got a drone and have been having so much fun touring around Houston up in the sky. by Thomas, on Flickr

So I was flying my new drone tonight...    

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  • 2 weeks later...

Looks like this may be 8-floors and 240 units now. Also, their using the EB5 program, does that mean this will be a condo building?

http://newtelegraphonline.com/houston-eb5-to-nigerians-invest-in-texas-property-get-permanent-residency/

That is one odd article.

It speaks to how the EB5 program helps to finance condos then goes on to describe how it will help finance this "Luxury apartment" building.

Hard to tell actually.

I need to do some research on EB5. First I have heard of this.

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EB5 is an immigration visa that pretty much allows wealthy foreign nationals to "buy" a green card, by investing in a job-producing commercial enterprise. In can be anything, doesn't have to be real estate, doesn't have to be condos - it just needs to be for-profit and create jobs.

From a RE perspective, I do agree with Mr. Contreras that it makes more sense for condos, since traditional financing is so easily available these days for apartments. Condos require pre-sales, and that's where the foreign investors come in.

The big news flash to me was that this is a Randall Davis project. It could be possible, that after his Galveston and South Padre projects were foreclosed, he is having a hard time getting bank financing for these apartments, so he is using this creative alternative which he already knows how to navigate.

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I'm sorry to hear that Randall Davis has come downtown. It's unfortunate. Maybe he can put a David Addickes sculpture of himself on top. Fill it with artwork from Dr. Peter Browns estate and it will be the perfect example of bad taste for the people in the Houston House, Sky House and 2016 Main to look down upon. I'm sorry but he is what I feared would start filling these empty parking lots on the southeast side of downtown.

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I'm sorry to hear that Randall Davis has come downtown. It's unfortunate. Maybe he can put a David Addickes sculpture of himself on top. Fill it with artwork from Dr. Peter Browns estate and it will be the perfect example of bad taste for the people in the Houston House, Sky House and 2016 Main to look down upon. I'm sorry but he is what I feared would start filling these empty parking lots on the southeast side of downtown.

As much as I hate most his work, Randal Davis came to Downtown a long time ago, before anyone ever thought Downtown living could be cool. He developed the Dakota lofts and the Rice Lofts (there may be others I forget) about 15 years ago. And both of those are actually great projects, from RD, believe it or not.

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I'll be the first to agree that his restoration of the Rice, Dakota, Clarke Court on West Clay, and the Hogg Palace, are all exceptional projects that deserve the gold brick he was awarded and all of the accolades he has received. My displeasure with Randall Davis is the designs of his new buildings. Marginal at best. Thats just my opinion and I'm sticking to it.

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I'll be the first to agree that his restoration of the Rice, Dakota, Clarke Court on West Clay, and the Hogg Palace, are all exceptional projects that deserve the gold brick he was awarded and all of the accolades he has received. My displeasure with Randall Davis is the designs of his new buildings. Marginal at best. Thats just my opinion and I'm sticking to it.

I agree. When you say marginal at best, you're being kind.

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slightly bummed this one wont be a high-rise anymore, but ill gladly take the infill/increase in residential population downtown. especially in this part of DT. is number 29 new? the "Planned 5 story by Leon"? i dont remember anything about that one..

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  • 4 weeks later...
  • 3 weeks later...

I am not sure if they are doing soil samples at this site, I saw some red clay on site in small cylinders. Looks like they were drilling into the earth. Didn't see any holes, they might have patched them because it looks like the thing shot up like a geyser. Looks like it sprung up some water.

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  • 1 month later...

And in other news, a city water main was found to have developed a leak... :P

No, I was right. The cylindrical clay drillings were soil samples. I noticed they were at strategic points all scross the lot.

In other news the american fencing company started putting up a fence around the property about half an hour ago and the cherry demolition company is on site too. This building looks like it will be coming down soon

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No, I was right. The cylindrical clay drillings were soil samples. I noticed they were at strategic points all scross the lot.

In other news the american fencing company started putting up a fence around the property about half an hour ago and the cherry demolition company is on site too. This building looks like it will be coming down soon

 

No lie

 

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No lie

Yep. Thanks for the pic.

I was planning on taking one but never got the chance.

The cherry demolition truck didn't stay long, and out doesn't seem like any prep/ work had been done inside the building. It still hasn't been gutted. But the fence is a good sign.I had been noticing mpre homeless sleeping around this building since the glass shop moved in July.

Hopefully the new building goes up quickly

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  • 2 weeks later...
  • 3 weeks later...

their original budget must have collapsed!  this current rendering is discombobulated... just awful!  i am trying hard to be happy that another barren block shall indeed be filled to create density... but geeeez, it was so beautiful beforehand.

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  • 2 weeks later...
  • Highrise Tower changed the title to Eighteen25 Downtown: 8-Story Multifamily Building

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