houstontexasjack Posted May 28, 2014 Share Posted May 28, 2014 Topping the Austonian would be nice. Even if not a 'supertall', it would be a nice counterbalance to the Williams Tower on the Uptown skyline. 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted May 28, 2014 Share Posted May 28, 2014 If develpers can't put a 50+ story tower in Uptown, what area besides downtown would this guy see appropriate?i seriously doubt they are going to stop a 50 story tower from being built in uptown. there is already a 64 story tower in uptown, multiple 40 story buildings, and a handful of highrises going up or planned along Post Oak.. stopping this development would mean potentially stopping all the other single story commercial strip malls along post oak from developing into tall mixed use developments. it would kill property values (imo, im no expert so correct me if im wrong) and royally piss off all the developers and investors who have spent a long time sitting and paid a pretty penny for some of these prime properties, just waiting for the right offer to redevelop them into towers.besides the fact that him opposing the BRT completely stands against everything he argued about with the new developments "causing harmful traffic congestion".. obviously BRT (and eventually light rail) is meant to RELIEVE traffic. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted May 28, 2014 Share Posted May 28, 2014 just noticed this when i did a quick search for anything on the new tower.. so i guess it is planned to be condos?http://www.bizjournals.com/houston/news/2014/02/26/amreit-puts-post-oak-property-on-the-market-for.html"The Courtyard at Post Oak property was built in 1994 and was 29.5 percent occupied with Verizon as the only tenant, according to the earnings report.“Similar to the Uptown Park opportunity, we anticipate executing a ground lease with a co-developer who will own the improvements above our retail which we would own in a condominium interest,” AmREIT said in the report." 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted May 28, 2014 Share Posted May 28, 2014 http://www.bizjournals.com/houston/blog/breaking-ground/2014/05/new-pac-opposes-transit-plan-on-post-oak-boulevard.html?page=all So the proposal by AmREIT is the potential supertall? 1 Quote Link to comment Share on other sites More sharing options...
fernz Posted May 28, 2014 Share Posted May 28, 2014 Nothing is being built there soon though. There is a coming soon sign for Persian rug store on the old Ninfa's building, I'll try to take a picture. 1 Quote Link to comment Share on other sites More sharing options...
King Owl Posted May 28, 2014 Share Posted May 28, 2014 are we talking about this conceptual building? It appears to be about 2 feet from the Cosmopolitan 2 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 28, 2014 Share Posted May 28, 2014 just noticed this when i did a quick search for anything on the new tower.. so i guess it is planned to be condos?http://www.bizjournals.com/houston/news/2014/02/26/amreit-puts-post-oak-property-on-the-market-for.html"The Courtyard at Post Oak property was built in 1994 and was 29.5 percent occupied with Verizon as the only tenant, according to the earnings report.“Similar to the Uptown Park opportunity, we anticipate executing a ground lease with a co-developer who will own the improvements above our retail which we would own in a condominium interest,” AmREIT said in the report." No. That only speaks about how they (AmREIT) would own the lower levels of retail while the tower would be owned by someone else. Technically, the term "condominium" is a form of ownership. It does not necessarily mean residential. 2 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted May 28, 2014 Share Posted May 28, 2014 A 'condominium' is a creature of law where the individual unit owners each own a share of the limited common elements. The Texas Uniform Condominium Act expressly applies to. 'commercial, industrial, residential, and other types of condominiums.' Residential is most common, but one could have a commercial condominium ownership structure. AmREIT's proposal wouldn't jive with Fannie Mae condo requirements (which are generally the straw that stirs the drink in the residential mortgage lending world) if this were to be a residential tower. However, I suspect these condos would all go for prices above the Fannie Mae maximum loan limits, in which case private bankers might be making these loans to high dollar clients. 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 28, 2014 Share Posted May 28, 2014 (edited) A 'condominium' is a creature of law where the individual unit owners each own a share of the limited common elements. The Texas Uniform Condominium Act expressly applies to. 'commercial, industrial, residential, and other types of condominiums.' Residential is most common, but one could have a commercial condominium ownership structure. AmREIT's proposal wouldn't jive with Fannie Mae condo requirements (which are generally the straw that stirs the drink in the residential mortgage lending world) if this were to be a residential tower. However, I suspect these condos would all go for prices above the Fannie Mae maximum loan limits, in which case private bankers might be making these loans to high dollar clients. Is there any indication that there are any residential condos being proposed, considered, or even thought of? The only mention of condos was in relation to AmREIT's planned continued ownership of the lower (retail) levels of the development. Edited May 28, 2014 by Houston19514 Quote Link to comment Share on other sites More sharing options...
Triton Posted May 28, 2014 Share Posted May 28, 2014 Looks like something from the 90s... 2 Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted May 28, 2014 Share Posted May 28, 2014 are we talking about this conceptual building? It appears to be about 2 feet from the Cosmopolitan Won't happen, Parvizan or whatever the latest "Going Out Of Business is Good For Business" rug store is going in the Dessert Gallery/Maggie Rita's spot. I doubt they would invest and sign a multi-year lease only to have their location be demolished for a tower. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted May 28, 2014 Share Posted May 28, 2014 lol, yeah. i figured that later when i noticed another article mentioning they were considering office, residential, or hospitality. doh.. 1 Quote Link to comment Share on other sites More sharing options...
lockmat Posted May 28, 2014 Share Posted May 28, 2014 why do we have two topics for this? 2 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 28, 2014 Share Posted May 28, 2014 Won't happen, Parvizan or whatever the latest "Going Out Of Business is Good For Business" rug store is going in the Dessert Gallery/Maggie Rita's spot. I doubt they would invest and sign a multi-year lease only to have their location be demolished for a tower. Do you have any reason to think they signed a multi-year lease? Doesn't Parvizian pretty typically go into short-term situations? Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted May 28, 2014 Share Posted May 28, 2014 I don't get it? He is scared of traffic and he lives where? I don't think you can find a busier one mile radius in Texas than that one mile radius around post oak in Uptown. If he was indeed worried about traffic he would promote more urban/ walkable building codes and push for more public transit like the brt he is fighting against. 2 Quote Link to comment Share on other sites More sharing options...
richfish Posted May 28, 2014 Share Posted May 28, 2014 That PAC is such a total joke. The only reason the PAC was even formed is because the Cosmo guys don't want their property values to get chopped in half when something tall inevitably goes up on the AmREIT lot. 2 Quote Link to comment Share on other sites More sharing options...
arche_757 Posted May 28, 2014 Share Posted May 28, 2014 (edited) ^He is worried about how the traffic will hurt his ability to drive his Maserati willy-nilly around that area. I agree, its ridiculous. He does make a few valid points - namely the additional traffic added to the area. However, that traffic is coming no matter a 2, 20, 40, 60 floor tower next door to the Cosmoplitun. I don't see this site as a great location for a supertall (the one being discussed above). In fact, I'd rather see some taller buildings clustered closer/on Richmond. Edited May 28, 2014 by arche_757 2 Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted May 28, 2014 Share Posted May 28, 2014 why do we have two topics for this?I agree, merge! Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted May 28, 2014 Share Posted May 28, 2014 Do you have any reason to think they signed a multi-year lease? Doesn't Parvizian pretty typically go into short-term situations? He likes to go out of business a lot if that is what you mean... But not sure, he tends to linger around lately...I am indifferent about it all. Quote Link to comment Share on other sites More sharing options...
Sellanious Caesar Posted May 28, 2014 Share Posted May 28, 2014 Not only that but the context of both threads at this point have conversations going two separate directions. It will be an awkward merger. Quote Link to comment Share on other sites More sharing options...
Triton Posted May 28, 2014 Share Posted May 28, 2014 Not only that but the context of both threads at this point have conversations going two separate directions.It will be an awkward merger. I thought the other topic was more about the PAC. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted May 28, 2014 Share Posted May 28, 2014 Is there any indication that there are any residential condos being proposed, considered, or even thought of? The only mention of condos was in relation to AmREIT's planned continued ownership of the lower (retail) levels of the development. I would think residential condos are being considered. My point was that condo ownership of the retail would not necessarily preclude commercial or office use of the tower. AmREIT's proposed ownership structure might make residential condo development a bit more difficult, as Fannie Mae wants the residential unit owners to have sole control over the amenities for the condo project to meet Fannie Mae standards. If this were to be a residential development, these would likely be jumbo (non-Fannie Mae loans), so Fannie Mae guidelines would not have to be as strictly adhered to as in a lower-end development but my experience has been that secondary market investors (who purchase mortgage loans made from originating lenders) get leery when a condo declaration strays too far from the Fannie Mae guidelines. Of course, all this Fannie Mae talk is moot if this will be an office or commercial tower. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 28, 2014 Share Posted May 28, 2014 I agree, merge! Posts from the "Potential Supertall" topic relating to this project have been moved to this thread. Carry on. 3 Quote Link to comment Share on other sites More sharing options...
monarch Posted May 28, 2014 Share Posted May 28, 2014 please jesus... let them update that awful rendering! 1 Quote Link to comment Share on other sites More sharing options...
Timoric Posted May 29, 2014 Share Posted May 29, 2014 (edited) - Edited July 8, 2019 by Timoric Quote Link to comment Share on other sites More sharing options...
native_Houstonian Posted July 2, 2014 Share Posted July 2, 2014 Any new information on this property - 1616 Post Oak?? Quote Link to comment Share on other sites More sharing options...
SkylineView Posted July 2, 2014 Share Posted July 2, 2014 There is a new rug-store in the northern piece. Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted July 2, 2014 Share Posted July 2, 2014 The Verizon store will be moving over to BLVD Place. 3 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted July 11, 2014 Share Posted July 11, 2014 http://blog.chron.com/primeproperty/2014/07/amreit-considers-buyout-offer/How will this effect the 50 story proposal and the Uptown Park redevelopment? 1 Quote Link to comment Share on other sites More sharing options...
arche_757 Posted July 11, 2014 Share Posted July 11, 2014 Could be quite drastic! The company making the offer for AmReit is a grocery/lifestyle center developer out of Jacksonville, Fl. Unless they're looking to start doing some bigger developments then this will probably scale things back considerably. I'll doubt much more will happen to Uptown Park than something like Boulevard Place (not that that would not be a big improvement). Though I'll admit an HEB there - would suck. Quote Link to comment Share on other sites More sharing options...
TowerSpotter Posted July 11, 2014 Share Posted July 11, 2014 (edited) As of today they rejected the offer. Edited July 11, 2014 by TowerSpotter 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted July 11, 2014 Share Posted July 11, 2014 Great news! 1 Quote Link to comment Share on other sites More sharing options...
arche_757 Posted July 11, 2014 Share Posted July 11, 2014 Good to know! I wasn't too thrilled to see them sell to the company that was offering to buy them. 2 Quote Link to comment Share on other sites More sharing options...
Triton Posted July 11, 2014 Share Posted July 11, 2014 As of today they rejected the offer. AmREIT isn't looking to be bought right now. 1 Quote Link to comment Share on other sites More sharing options...
arche_757 Posted July 11, 2014 Share Posted July 11, 2014 AmREIT isn't looking to be bought right now. Yet they considered an offer. What does that say? Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted July 11, 2014 Share Posted July 11, 2014 Yet they considered an offer. What does that say? It says nothing. As a publicly-held company, they are obliged to "consider" an offer. Quote Link to comment Share on other sites More sharing options...
Naviguessor Posted July 11, 2014 Share Posted July 11, 2014 Everything has a price. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted July 11, 2014 Share Posted July 11, 2014 Glad to hear AmREIT said no. I quite like their plans for Uptown Park and am looking forward to seeing what goes up on the San Felipe and Post Oak site. 2 Quote Link to comment Share on other sites More sharing options...
houstontiger Posted July 14, 2014 Share Posted July 14, 2014 I'm pretty sure I saw survey guys on the property this morning, right by the Verizon store. 1 Quote Link to comment Share on other sites More sharing options...
lockmat Posted July 14, 2014 Share Posted July 14, 2014 Could they have been there for post oak construction? Quote Link to comment Share on other sites More sharing options...
houstontiger Posted July 14, 2014 Share Posted July 14, 2014 It's possible, but they were near the store's driveway off San Felipe. Quote Link to comment Share on other sites More sharing options...
swtsig Posted July 20, 2014 Share Posted July 20, 2014 Hearing multifamily. 5 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted July 20, 2014 Share Posted July 20, 2014 Hearing multifamily.That would be huge if it's all MF.. Would be the second tallest residential tower in the state. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted July 20, 2014 Share Posted July 20, 2014 Office or multifamily would be nice. I am more excited about '50 stories.' This might be the 2nd tallest building in Uptown, and would make a nice counterbalance to the Williams Tower in the skyline. 1 Quote Link to comment Share on other sites More sharing options...
lockmat Posted July 20, 2014 Share Posted July 20, 2014 A 50-story MF is more likely to be thinner than office, which I'm happy about. It helps give a different texture to the skyline, especially since office buildings have such big floor plates these days.This seems like a great location to have hospitality in the mix too but MF is good enough. Quote Link to comment Share on other sites More sharing options...
swtsig Posted July 20, 2014 Share Posted July 20, 2014 Fairly certain those renderings on pg 1 were strictly conceptual and are likely in no way indicative of what will ultimately get built. In my opinion, of course. 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted July 20, 2014 Share Posted July 20, 2014 Good point lockmat. The only downside I see is residential is shorter floor plates, so it won't be as tall as say a 50 story office tower. Heh.. Should still be over 600' though, even with a garage podium. And yeah, I too thought this would be a great location for a high end hotel & residences.. I guess time well tell. 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted July 29, 2014 Share Posted July 29, 2014 From the 2Q Press Release AmREIT has entered into a letter of intent with a regional multi-family developer to develop a 40-story, 356-unit residential tower with two stories of retail with respect to 1.58 acres at the northwest corner of Post Oak and San Felipe, known as The Courtyard at Post Oak. AmREIT is currently negotiating a joint venture with the developer as co-sponsors whereby we will seek an institutional equity partner. AmREIT will retain ownership of the 1.58 acres and ground lease the site to the anticipated venture. Total project costs are estimated be approximately $142 million and construction could begin within the next 12 months. 5 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted July 29, 2014 Share Posted July 29, 2014 From the 2Q Press Release 40-stories is not bad. I think that would put this tower in the ballpark of 500'. Here's hoping it features a lighting feature (yes, this is my version of GFR) to add to the Uptown skyline at night. 2 Quote Link to comment Share on other sites More sharing options...
monarch Posted July 29, 2014 Share Posted July 29, 2014 i concur. a 40 story edifice located at that particular site.. shall look spectacular. 1 Quote Link to comment Share on other sites More sharing options...
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