Jump to content
Urbannizer

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

Recommended Posts

3 hours ago, cspwal said:

 

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

 

 

Really I may consider moving downtown!!!!  I'm paying right at 1000.00 for 1 bedroom in Galleria area

  • Like 2

Share this post


Link to post
Share on other sites
2 hours ago, htownbro said:

 

 

Really I may consider moving downtown!!!!  I'm paying right at 1000.00 for 1 bedroom in Galleria area

Warning: they currently are renovating, so they have free mandatory valet parking (or an offsite garage) and the pool is closed.  But it is a good deal

  • Like 2

Share this post


Link to post
Share on other sites

The fact that these buildings are going forward indicates to me that lease-up at the DLI buildings finished so far must be moving along fairly well. These decisions are made with all available intel and detailed market projections. This is the first really positive news about the high-end residential market we've seen after all the news about 3 month rent concessions. Residential seems to be doing much better than office.

 

  • Like 8

Share this post


Link to post
Share on other sites
On 8/5/2017 at 10:19 AM, Sunstar said:

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

 

People in need of affordable housing were not the demographic DLI was hoping to attract.

 

Also, commercial rents kind of establish a price floor below which it doesn't make sense to build residential. If a developer can get $30/sf for Class A commercial space, that's roughly the equivalent of $2500/month for a 1000-sf apartment. As residential and commercial rates fluctuate relative to one another, the mix of new development should shift accordingly.

  • Like 4

Share this post


Link to post
Share on other sites
24 minutes ago, Angostura said:

 

People in need of affordable housing were not the demographic DLI was hoping to attract.

 

Also, commercial rents kind of establish a price floor below which it doesn't make sense to build residential. If a developer can get $30/sf for Class A commercial space, that's roughly the equivalent of $2500/month for a 1000-sf apartment. As residential and commercial rates fluctuate relative to one another, the mix of new development should shift accordingly.

 

I think he means, how was the city politically able to subsidize residential development without making the developers promise a certain amount of affordable housing. Since this is normally what cities do across the U.S. when they intervene in residential development.

 

Of course affordable housing in a place like downtown does not make sense from a purely economic standpoint. That's why cities typically intervene and give tax breaks - to make happen what wouldn't otherwise happen.

 

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, H-Town Man said:

 

I think he means, how was the city politically able to subsidize residential development without making the developers promise a certain amount of affordable housing. Since this is normally what cities do across the U.S. when they intervene in residential development.

 

Of course affordable housing in a place like downtown does not make sense from a purely economic standpoint. That's why cities typically intervene and give tax breaks - to make happen what wouldn't otherwise happen.

 

 

It almost certainly would have taken a lot larger subsidies to get affordable housing in the deal. I doubt you'll find many (if any) downtown residential developments (in a downtown anything like Houston's) across the U.S. that provided affordable housing with a subsidy rate of only $15,000 per unit.

  • Like 2

Share this post


Link to post
Share on other sites
On 8/7/2017 at 5:32 PM, UtterlyUrban said:

Is Houston House fully fire protected (sprinklers) in all units?  

Yes it is - though I suspect the old days inn isn't anymore :wacko:

  • Like 1

Share this post


Link to post
Share on other sites
6 minutes ago, Houston19514 said:

 

It almost certainly would have taken a lot larger subsidies to get affordable housing in the deal. I doubt you'll find many (if any) downtown residential developments (in a downtown anything like Houston's) across the U.S. that provided affordable housing with a subsidy rate of only $15,000 per unit.

 

Likely not $15,000 per subsidized unit, but $15,000 per unit spread across the whole building, with a requirement that 10% of units be affordable? I have no idea if that would work, and haven't really studied affordable housing.

 

Share this post


Link to post
Share on other sites
Just now, H-Town Man said:

 

Likely not $15,000 per subsidized unit, but $15,000 per unit spread across the whole building, with a requirement that 10% of units be affordable? I have no idea if that would work, and haven't really studied affordable housing.

 

 

I haven't studied it much, but have looked at some examples primarily in Dallas.  $15,000 doesn't even come close. 

  • Like 1

Share this post


Link to post
Share on other sites
1 minute ago, MarathonMan said:

Block 330 is getting prepped for Camden’s 20 story residential highrise adjacent to Toyota Center.  Sidewalk scaffolding is going up.  Block 346 is fenced off for staging/construction management.  This project will be good for south downtown!

92A8AA9A-2D87-47E1-99F5-5F0F8A9B48E2.jpeg

 

Houston architecture enthusiasts appreciate this post.

 

Anything happening on Block 98? (block west of Marriott Marquis)?

 

Share this post


Link to post
Share on other sites
4 minutes ago, H-Town Man said:

 

Houston architecture enthusiasts appreciate this post.

 

Anything happening on Block 98? (block west of Marriott Marquis)?

 

 

5 minutes ago, H-Town Man said:

 

Houston architecture enthusiasts appreciate this post.

 

Anything happening on Block 98? (block west of Marriott Marquis)?

 

Nope.

Share this post


Link to post
Share on other sites

I saw the fencing and trailers yesterday too and thought the same thing about the Camden building but the Red Cross was using this block for a staging yard during Harvey recovery and I wondered if they were just finally moving out?

  • Like 1

Share this post


Link to post
Share on other sites
4 minutes ago, hindesky said:

I saw the fencing and trailers yesterday too and thought the same thing about the Camden building but the Red Cross was using this block for a staging yard during Harvey recovery and I wondered if they were just finally moving out?

No.  They’re definitely moving equipment in.  

  • Like 2

Share this post


Link to post
Share on other sites

What is the orientation of the pool/podium parking? Will it face north where it won't ever get sun or south where it will get some sunlight?

Share this post


Link to post
Share on other sites
1 minute ago, hindesky said:

What is the orientation of the pool/podium parking? Will it face north where it won't ever get sun or south where it will get some sunlight?

 

Building faces north to Root Park, pool/parking face south.

 

  • Like 2

Share this post


Link to post
Share on other sites
27 minutes ago, H-Town Man said:

 

Building faces north to Root Park, pool/parking face south.

 

 

The park should expand 1 block north and kill that street in between. Park would become much more substantial... Could spur more development.

 

Also - I am not a fan of Toyota Center... Would love to see this redesigned.

  • Like 2

Share this post


Link to post
Share on other sites
1 hour ago, hindesky said:

Will Camden qualify for the tax abatement or did they miss the window?

It will be interesting to see how this works out considering the relationship Ric Campo in his role as head of "Houston First", the super bowl committee,  and an active member of the downtown community and his relationship with Bob Eury's group which set up the initiative program. I have the utmost respect for Bob Eury but it will be interesting to see how this ends once the dust settles. 

I thought it was pretty much settled earlier that they were no longer eligible since the deadline had passed.

Share this post


Link to post
Share on other sites
2 hours ago, hindesky said:

Will Camden qualify for the tax abatement or did they miss the window?

 

Camden as well as Trammell Crow (Block 98) received an extension. 

  • Like 4

Share this post


Link to post
Share on other sites

What about Marquette Urbannizer? The Downtown Houston website shows a 2Q 2018 start?

 

A 304-unit, 24-story apartment tower, bounded by Commerce, Jackson, Franklin and Chevenert. The propsoed project is a half-block tower and garage on the western half, with the block remainder as surface parking. 

DEVELOPER

Marquette Companies

TIMELINE

Estimated construction start 2Q 2018. Estimated completion 2Q 2020

BLOCK

114

  • Like 3

Share this post


Link to post
Share on other sites
4 hours ago, hindesky said:

What about Marquette Urbannizer? The Downtown Houston website shows a 2Q 2018 start?

 

Fairfield Rsidential received an extension of for 1810 Main, but I dunno any new info regarding Marquette's proposal.

  • Like 6

Share this post


Link to post
Share on other sites
1 hour ago, hindesky said:

Excavation has begun and the site's fencing will make it hard to see the progress.

Pycliht.jpg

i36OgI0.jpg

We’ll just have to bribe the Roach Coach driver for excavation status details!

  • Haha 1

Share this post


Link to post
Share on other sites

I for one was critical of the way they sat back during several cycles when they could have pulled the trigger on one or two different projects that had been announced, in particular the city tax incentive that they applied for initially with this project, because I felt like they had reneged on their opportunity to build what they had  signed up to do. There were a limited number of units that could qualify for the incentive and they were holding several hundred of these units in limbo.  I did say that it made sense to hold up during the middle of the glut and economic downturn to sit on the fence.

It was very frustrating to hear about these projects and then have them put on hold. I'm interested to know how Ric Campo and Trammel Crowe were able to qualify after not meeting the deadline for the tax incentives.

I'm just glad to see this project in a go position.

It will be a fine addition to the southeast corner of downtown joining the growing community around the cathedral.

As of now we have two sky houses and the midrise at the train station that took forever, two new mid rise residential buildings adjacent to the cathedral, the apartment midrise that flanks the pearce elevated and now this project joining the Houston House and 2016 Main. When you think about it thats an amazing amount of growth for an area that was pretty much a sea of parking lots five years ago.

  • Like 8

Share this post


Link to post
Share on other sites
8 hours ago, bobruss said:

It was very frustrating to hear about these projects and then have them put on hold. I'm interested to know how Ric Campo and Trammel Crowe were able to qualify after not meeting the deadline for the tax incentives.

 

 

It has been reported that Trammell Crow Co. received an extension on their participation in the Downtown Living Initiative. "Trammell Crow Co. received an extension on its agreement to build a project through the Downtown Living Initiative program. Now, the company is expected to begin construction at 800 Walker early next year, and it must have a temporary certificate of occupancy by May 28, 2020, to receive the incentive, per the Chronicle.https://www.bizjournals.com/houston/news/2017/08/04/another-downtown-apartment-project-expected-to.html

 

If the Camden project is still in the program, presumably they also got an extension. (FWIW, extensions in these types of programs are pretty much par for the course, and not just in Houston.

  • Like 6

Share this post


Link to post
Share on other sites

Once the Randall Davis tower is finished and they sell the remaining units it might spur more condo growth.

The tax incentive is gone so now it just depends on how well these new downtown markets do before I see more development.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...