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


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Snapped this the other day. Slightly wonky since I had to photomerge a multiple photos to get the entire building in the shot.

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.  

The clouds showed up the one time i managed to get downtown... Nevertheless, here are a few shots.          

Posted Images

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.

 

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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 by H-Town Man
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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.

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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 ;)

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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?

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  • 5 months later...
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.

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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.

 

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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.

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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?

 

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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.

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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 by UtterlyUrban
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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

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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).

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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. 

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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.

 

 

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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.

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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 by UtterlyUrban
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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.

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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

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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 by Houston19514
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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.

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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. 

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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. 

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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

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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. 

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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.

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