Camden Conte: 21-Stories x2 (2 Phases) - Downtown

[Timoric 1557]

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Edited July 11, 2019 by Timoric

[H-Town Man 5008]

23 minutes ago, Timoric said:

I have to say that Randall Davis, the other punching bag on this forum gains my respect for one thing. He doesn't make them pretty but it seems like his stuff sells just fine and he keeps building more - The Marlow selling well made me think; hell, at least he does something and he obviously knows what works or the market would have bankrupted him by now.

 

All true. Although my target wasn't so much the initial attack as it was the rush to save Ric Campo by annihilating the attacker.

 

[BigFootsSocks 3179]

Yeah the target of your posts really need to quit using logic and common sense in their posts. Really irritating when that gets in the way of "I don't care if it doesn't make sense I just want a big tall tower"

[H-Town Man 5008]

4 minutes ago, BigFootsSocks said:

Yeah the target of your posts really need to quit using logic and common sense in their posts. Really irritating when that gets in the way of "I don't care if it doesn't make sense I just want a big tall tower"

 

I'm still optimistic enough about human nature to think that someone can provide logic and common sense to a discussion without calling the other person "stupid" and a "moron."

 

Edited February 10, 2017 by H-Town Man

[BigFootsSocks 3179]

4 hours ago, H-Town Man said:

 

I'm still optimistic enough about human nature to think that someone can provide logic and common sense to a discussion without calling the other person "stupid" and a "moron."

 

Look, no one was called a Nazi anywhere in the discussion, and I consider that a success, Hitler.

 

 

 

 

 

 

 

 

 

 

Damnit.

[Montrose1100 3722]

20 hours ago, Timoric said:

I have to say that Randall Davis, the other punching bag on this forum gains my respect for one thing. He doesn't make them pretty but it seems like his stuff sells just fine and he keeps building more - The Marlow selling well made me think; hell, at least he does something and he obviously knows what works or the market would have bankrupted him by now.

I agree with you. His projects are eye gauging but he's catering to his audience. When you get a chance browse zillow for +$1mil homes and get a first hand glance at what kind of taste these people have. It's a fine line between Steamboat House & Hotel Granduca.

 

His execution is perfect when viewed at his target. Excellent business strategy.

 

Edit: H-town was that article mentioning this forum or swamplot? I feel there is more pettiness & snark there versus here where we maintain grace & civility

[bobruss 4988]

Its a fact, that a very infinitesimal number of people have good taste, but that doesn't mean you can't raise the bar.

They can do whatever gaudy thing they want inside their four walls to create their masterpiece of funk, but why take it out on everyone?

[HNathoo 1186]

Camden announced phase I is a go on their earnings call. Should kick off Q4-2017. It'll be 21 stories, as discussed here.

 

They have no definite plans for phase II.

 

[Texasota 2971]

oh dang y'all. Was not expecting this.

[kbates2 1352]

Awesome awesome news

[kbates2 1352]

From the transcript:

 

"Based on our view that there will be limited completions and competition from new developments in 2019 and 2020, we’ve decided to go forward with the construction of our Downtown Houston project, Camden Downtown. Construction will begin in the fourth quarter of this year with lease-up beginning in the fourth quarter of 2019 and stabilization expected in 2020. Camden Downtown represents a counter-cyclical opportunity to lock in construction costs at a time when it’s difficult for developers to get equity or construction financing."

[Sunstar 608]

Happy Saturday morning!!!

[Sunstar 608]

Is phase 1 the one right next to Root square or the other block?

[kbates2 1352]

Right next to Root Square.

[Twinsanity02 1290]

16 hours ago, HNathoo said:

Camden announced phase I is a go on their earnings call. Should kick off Q4-2017. It'll be 21 stories, as discussed here.

 

They have no definite plans for phase II.

 

HNathoo, I believe you got the good announcement of the week. Thanks.

[Nole23 1450]

Yes!!!!

[hindesky 46798]

Does Camden still qualify for the $15,000 per unit tax abatement for this? I thought there was a deadline date to qualify.

[H-Town Man 5008]

On ‎7‎/‎29‎/‎2017 at 0:41 AM, HNathoo said:

Camden announced phase I is a go on their earnings call. Should kick off Q4-2017. It'll be 21 stories, as discussed here.

 

They have no definite plans for phase II.

 

 

Underrated post.

 

[monarch 3797]

 

^^^ i thought that we needed this....

[lockmat 2292]

There is a garage entrance on the west and north side. Why not put the north entrance on the east side which faces the Toyota Center garage? Instead it's facing the park. Doesn't make much sense to me.

[UtterlyUrban 1677]

9 hours ago, lockmat said:

There is a garage entrance on the west and north side. Why not put the north entrance on the east side which faces the Toyota Center garage? Instead it's facing the park. Doesn't make much sense to me.

Perhaps they are trying not to "interact" with the traffic from event traffic at the  TC?

 

[lockmat 2292]

3 hours ago, UtterlyUrban said:

Perhaps they are trying not to "interact" with the traffic from event traffic at the  TC?

 

 

Maybe so, I'm sure they have a pragmatic reason. Just doesn't lend itself well aesthetically.

[cspwal 3908]

Having the pull off where the address is helps in this age of Ubers and delivery services - the GPS will bring you to the street address

[Purdueenginerd 1491]

Big fan of those curved corner units. They'll have a pretty awesome view of the skyline from that site if I'm correct. 

[UtterlyUrban 1677]

10 hours ago, Purdueenginerd said:

Big fan of those curved corner units. They'll have a pretty awesome view of the skyline from that site if I'm correct. 

I am guessing that youare correct.  They will likely come with a monthly bill that I would need to mug Bill Gates to afford!  Oh well.  Maybe I will head over for a tour when they begin leasing in a few years so I can see the views of the "lucky few"!

Edited August 2, 2017 by UtterlyUrban

[Purdueenginerd 1491]

12 hours ago, UtterlyUrban said:

I am guessing that youare correct.  They will likely come with a monthly bill that I would need to mug Bill Gates to afford!  Oh well.  Maybe I will head over for a tour when they begin leasing in a few years so I can see the views of the "lucky few"!

 

 

Ha, I rented at Camden Travis street back in 2014, I had picked the side that faces downtown specifically. It was like $200 a month extra. The following year they raised my rent $250 MORE. I bought a house 3 months later. $1700 rent at that point was too much. 

 

I only imagine that those units will be upwards of like $2500 or more

[UtterlyUrban 1677]

8 minutes ago, Purdueenginerd said:

 

 

Ha, I rented at Camden Travis street back in 2014, I had picked the side that faces downtown specifically. It was like $200 a month extra. The following year they raised my rent $250 MORE. I bought a house 3 months later. $1700 rent at that point was too much. 

 

I only imagine that those units will be upwards of like $2500 or more

$2500 may be the "entry" rate.  I am told that high rise rentals in downtown start at about $2200 and head up to about $6000 (and possibly more for large units at OPP).

[Purdueenginerd 1491]

This makes me curious how that can be sustained other than through corporate deals. It seems like theres not a lot of condo's within downtown and I feel like that would balance out these units a bit. When property owners start renting out their own units, I'm sure the market would get more competitive. $6000 a month, for a rental-- and its not even a house. Like wow. I could stay in a hotel for $200 a night (200*30 = $6000), and someone would at least do my sheets every day. 

[jmitch94 2033]

I had heard, don't quote me one this, that the penthouses in OPP can be between $10-$15,000. That's like buying a house every year. 

[EllenOlenska 1180]

They must be pretty damned big, then. 

[UtterlyUrban 1677]

1 hour ago, Purdueenginerd said:

This makes me curious how that can be sustained other than through corporate deals. It seems like theres not a lot of condo's within downtown and I feel like that would balance out these units a bit. When property owners start renting out their own units, I'm sure the market would get more competitive. $6000 a month, for a rental-- and its not even a house. Like wow. I could stay in a hotel for $200 a night (200*30 = $6000), and someone would at least do my sheets every day. 

A quick HAR rental search for downtown highrises show an 800 sq ft one bedroom at $2300 per month and larger units up to $6000 at th new place near market square.  OPP did not have any listings. Nor did catalyst.  I have previously been told that the rates shown above are "market" for a "new" downtown highrise.

 

 

[jmitch94 2033]

3 hours ago, EllenOlenska said:

They must be pretty damned big, then. 

 

Up to 3,500 SF. 

[ajgallion 55]

On 8/2/2017 at 10:11 AM, Purdueenginerd said:

This makes me curious how that can be sustained other than through corporate deals. It seems like theres not a lot of condo's within downtown and I feel like that would balance out these units a bit. When property owners start renting out their own units, I'm sure the market would get more competitive. $6000 a month, for a rental-- and its not even a house. Like wow. I could stay in a hotel for $200 a night (200*30 = $6000), and someone would at least do my sheets every day. 

Houston rents are getting out of control. Land downtown is not that valuable. I can find the same rent prices for apartments in downtown Los Angeles and they at least have multiple grocery stores and a Target to walk to.

[UtterlyUrban 1677]

8 hours ago, ajgallion said:

Houston rents are getting out of control. Land downtown is not that valuable. I can find the same rent prices for apartments in downtown Los Angeles and they at least have multiple grocery stores and a Target to walk to.

Keep in mind that a number of factors need to be compared between States when determining the price of housing.  California has an ugly  income tax.  Texas has an ugly real estate tax.  Why does that matter?  Only The real estate tax shows up more directly in the form of higher rental rates for apartments and lower sales prices for homes. 

 

To properly compare housing prices/rents in an income tax State to a Real Estate tax State, one needs to adjust for this difference.

Edited August 4, 2017 by UtterlyUrban

[cloud713 4038]

On 8/2/2017 at 11:00 AM, jmitch94 said:

I had heard, don't quote me one this, that the penthouses in OPP can be between $10-$15,000. That's like buying a house every year. 

 

Out of the 4 penthouses in Market Square Tower, only the westward facing penthouse is still available, at a cost of $18,715 a month.

[Timoric 1557]

2 hours ago, cloud713 said:

 

Out of the 4 penthouses in Market Square Tower, only the westward facing penthouse is still available, at a cost of $18,715 a month.

 

[Twinsanity02 1290]

1 hour ago, Timoric said:

 

The extended version is also humorous. It presses many stereotype of the very rich.

[UtterlyUrban 1677]

7 hours ago, cloud713 said:

 

Out of the 4 penthouses in Market Square Tower, only the westward facing penthouse is still available, at a cost of $18,715 a month.

Woof!

[Sunstar 608]

How is it the downtown living initiative managed to avoid providing affordable housing? Isn't this tax payer supported?

[Twinsanity02 1290]

What are the rents for the Hamilton, block 334 or the other non-highrise apartments? Anyone know? 

[cspwal 3908]

Block 334 is ~$1600/mo for a one bedroom

[cspwal 3908]

I found the DLI info.  Here are the requirements:

• "Participating developers will be expected to preserve or replace streetscapes to a level equivalent to or exceeding the existing upgraded level."
• "Only residential projects generating ten (10) or more new dwelling units will be considered; this includes adaptive reuse of existing buildings."
• "The project is designed to support an enhanced pedestrian environment in accordance with criteria specified in the Guidelines."
• "Any approved agreement shall terminate if project does not commence construction within one year or obtain Certificate of Occupancy within three years of approval of agreement by HDMD or DRA board. "

There's no affordable housing requirement.  There's also no GFR requirement, which I though was required

[Houston19514 4657]

21 hours ago, cspwal said:

I found the DLI info.  Here are the requirements:

• "Participating developers will be expected to preserve or replace streetscapes to a level equivalent to or exceeding the existing upgraded level."
• "Only residential projects generating ten (10) or more new dwelling units will be considered; this includes adaptive reuse of existing buildings."
• "The project is designed to support an enhanced pedestrian environment in accordance with criteria specified in the Guidelines."
• "Any approved agreement shall terminate if project does not commence construction within one year or obtain Certificate of Occupancy within three years of approval of agreement by HDMD or DRA board. "

There's no affordable housing requirement.  There's also no GFR requirement, which I though was required

 

It's apparently something less than an absolute requirement, but the GFR is covered by the design guidelines.

Edited August 6, 2017 by Houston19514

[H-Town Man 5008]

23 hours ago, Sunstar said:

How is it the downtown living initiative managed to avoid providing affordable housing? Isn't this tax payer supported?

 

Welcome to Houston. I've never heard much talk of affordable housing here, I think because the City is so affordable in general. We lack in the image department, not the cost of living department, hence taxpayer subsidies for high dollar highrise residences.

[Sunstar 608]

2 minutes ago, H-Town Man said:

 

Welcome to Houston. I've never heard much talk of affordable housing here, I think because the City is so affordable in general. We lack in the image department, not the cost of living department, hence taxpayer subsidies for high dollar highrise residences.

 

i guess the idea was to get someone living downtown, anyone really. They've succeeded in that they've tapped into a demand for downtown living. I'm not saying they need section 8 housing, but something affordable to working class families would be nice. Especially since there are still so many undeveloped lots downtown, especially north of the ball park and south of the GRB. 

[Sunstar 608]

22 hours ago, Twinsanity02 said:

What are the rents for the Hamilton, block 334 or the other non-highrise apartments? Anyone know? 

 

Looks like the cheapest floor plan at the Hamilton is $1455 for 760 sq feet.

[Texasota 2971]

It looks like you can actually get into Skyhouse for cheaper, albeit with a smaller unit.

 

The thing is, today's affordable housing is yesterday's luxury housing. It is very difficult to make new housing that's genuinely affordable to people. I actually think the DLI is great because it incentivized new housing in an area where it was unlikely to result in the replacement of existing affordable housing with new luxury stock. It just created more housing overall.

 

It will be interesting to see how these buildings age. I kinda think the Skyhouses are the best overall - they're actually borderline affordable now, and, since they're not just stick construction, are likely to still be going strong well after their initial construction costs have been absorbed. 

[cspwal 3908]

22 hours ago, Texasota said:

It looks like you can actually get into Skyhouse for cheaper, albeit with a smaller unit.

 

The thing is, today's affordable housing is yesterday's luxury housing. It is very difficult to make new housing that's genuinely affordable to people. I actually think the DLI is great because it incentivized new housing in an area where it was unlikely to result in the replacement of existing affordable housing with new luxury stock. It just created more housing overall.

 

It will be interesting to see how these buildings age. I kinda think the Skyhouses are the best overall - they're actually borderline affordable now, and, since they're not just stick construction, are likely to still be going strong well after their initial construction costs have been absorbed. 

 

Case in point: Houston House is now below $1000 for pretty much all the 1 bedroom floor plans

[Sunstar 608]

On 8/6/2017 at 11:08 AM, Texasota said:

It looks like you can actually get into Skyhouse for cheaper, albeit with a smaller unit.

 

The thing is, today's affordable housing is yesterday's luxury housing. It is very difficult to make new housing that's genuinely affordable to people. I actually think the DLI is great because it incentivized new housing in an area where it was unlikely to result in the replacement of existing affordable housing with new luxury stock. It just created more housing overall.

 

It will be interesting to see how these buildings age. I kinda think the Skyhouses are the best overall - they're actually borderline affordable now, and, since they're not just stick construction, are likely to still be going strong well after their initial construction costs have been absorbed. 

 

One approach to cheaper housing downtown would be to cut back on amenities like pools, gyms, dedicated parking garages, etc. If someone is looking to live downtown cheaply, they would probably be willing to forgo some of these. Downtown is a central transit hub between rail and bus, so I can't imagine a car is a necessity. 

[BeerNut 2571]

Not downtown but Midmain is a development centered around easy  access to transit.  People love amenities even though some go barely used.  My gf joked about how people would ohhh and ahh over media/theater rooms when doing tours but tenants never used them.