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Parkside Residences: 43-Story Residential High-Rise For Block 98


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Discovery-Tower-Night.jpg

http://www.wylieassociates.com/project/discovery-tower/

667,000 GSF, New Apartment Tower Including:

• 280,260 SF, 251 Apartment Units

• Outdoor Plaza Deck with Pool

• Fitness Area & Club/Meeting Area

• Residential Lobby Area

• 6,700 SF, Retail

• 229,664 SF, Parking Garage

• Pursuing LEED® Certification

So gorgeous, still my most anticipated downtown tower.
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Isn't TC fairly tight lipped about everything?

 

I walk by regularly, the lot is still full of Marriott construction trailers. 

 

nXdedSz.jpg

 

I would like to see a rendering from this angle. DG will be all closed in, which I think is pretty cool.

Edited by Nate99
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Recently saw a start of 1Q 2017 for this one..

 

With the local economy the way it is, I'm thinking 2018 or 19 will be more realistic. Thinking back to the Great Recession, many projects in Houston that were proposed in 2007 did not start until about 2012 and 2013.

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And some of those still haven't.... Regent Square.

 

True but Regent Square probably has the largest footprint of any other project, even larger than River Oaks District. It's going to take a lot of commitment to get that one through.

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Well, looks like they waited too late for this project. New data is showing multi-family is absolutely plummeting in the Houston market, especially the higher-end category.

 

Has it spread to the downtown market yet?  Last I saw was downtown and midtown were still strong, though that was a few months ago

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Has it spread to the downtown market yet?  Last I saw was downtown and midtown were still strong, though that was a few months ago

 

With all the residential about to come online downtown, it's probably hard to judge. I'm really interested to see prices.

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Well, looks like they waited too late for this project. New data is showing multi-family is absolutely plummeting in the Houston market, especially the higher-end category.

 

matter of perspective - i'm sure TC is thanking their lucky stars they didn't start 6-9 months ago.

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  • 6 months later...
17 hours ago, houstontexasjack said:

The Ziegler Cooper description suggests a 34-story tower now.  The rendering still puts it about the same height as the Hess building.  I have to wonder how keen Trammell Crow would actually be to move forward.

Actually, they also mention an 11 story parking garage underneath?  If that's the case, then it will be about 45 floors in total, no ?

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1 hour ago, ArtNsf said:

Actually, they also mention an 11 story parking garage underneath?  If that's the case, then it will be about 45 floors in total, no ?

 

The 11-story parking garage is included in the 40-story floor count.  You can tell by counting the floors in the renderings.

Edited by Houston19514
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2 hours ago, Houston19514 said:

 

The 11-story parking garage is included in the 40-story floor count.  You can tell by counting the floors in the renderings.

Ah, okay, thanks for the correction.  Still 40 stories is pretty tall though.  Looking forward to one or two supertalls someday downtown :) 

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DG as a really neat "sunken" feel to it when you look out toward Hess and Houston Center. This tower would fill it in even more.  If that Camden project in front of Toyota Center ever goes, the continuity of new development would be pretty big in what I vividly remember being a real wasteland pre-GRB.

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4 hours ago, CREguy13 said:

Hopefully we get an update on this project in the coming weeks as the Marriott clears its staging area.  Whether its shelved, delayed, or moving forward, any update would be appreciated.

Agreed.

 

my opinion is that this is tabled for "a bit".   As I recall, this was to be apartments.   It will be interesting to see if the developers switch to condos.... I guess that will largely depend on the Marlowe and its trajectory.

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3 minutes ago, UtterlyUrban said:

Why is this "good news"?  (Not being mean, I just don't understand).

Well, if all of the pricier units are already gone, we can assume that the cheaper units will sell like hotcakes-- even quicker than the others.

 

edit:

(oops i forgot that we were talking about block 98)

I'm assuming that he is hoping for Marlowe to sell out quickly, so Block 98 can rise soon.

Edited by htownboy
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But if cheaper units sells fast, why haven't they already sold?

 

the most in-demand units always sell first.  The less in-demand units sell later and are sometimes hard to sell.  

 

I guess I still don't understand the point the poster was making.  There may very well be "good news" at the Marlowe but I am just not sure what that might be.

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6 hours ago, UtterlyUrban said:

But if cheaper units sells fast, why haven't they already sold?

 

the most in-demand units always sell first.  The less in-demand units sell later and are sometimes hard to sell.  

 

I guess I still don't understand the point the poster was making.  There may very well be "good news" at the Marlowe but I am just not sure what that might be.

Perhaps the good news is there is more of a market for higher-priced, for-sale units downtown.  If that's the case, it could lead to more dynamic developments in the next cycle.

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28 minutes ago, CREguy13 said:

Perhaps the good news is there is more of a market for higher-priced, for-sale units downtown.  If that's the case, it could lead to more dynamic developments in the next cycle.

 

This. 

 

The penthouse units on floors 18-20 are almost sold out. That's where the profit margin lies. It'll encourage more development than if the opposite were true (meaning the cheaper units sold first and the higher priced ones languished on the market). 

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8 hours ago, UtterlyUrban said:

Got it.  I understand the point now.

 

Will it also mean that developers will be building fewer "less expensive" units and more expensive units in buildings?  If what you say is true, I assume so.

That remains to be seen.  As more amenities (restaurants, entertainment, shops, etc.) pour into downtown making it a 24/7 destination, land prices will continue to go up and it will depend on how the developer can make their margins work.  

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22 hours ago, nate4l1f3 said:

They should redisgn the tower to have a huge hole in the middle at eye level of the pool :) to keep the view

 

What I'm hoping happens is that they'll have a great view of soaring towers toward the south/south-west. Lots of potential over there.

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  • The title was changed to Parkside Residences: 43-Story Residential High-Rise For Block 98
  • The title was changed to Parkside Residences: 43-Story High-Rise For Block 98

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