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Houston is way too big and has way too much empty space in the core to be getting this expensive. My biggest gripe is the loss of character in the near downtown neighborhoods. Wish there was someway to balance progress and history

It seems it would also be too expensive to be running out of developable lots. But that seems to be the chief lament of the developers from Downtown to Conroe.

 

Not only that, but land and materials are getting expensive, and labor is in short supply.

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It seems it would also be too expensive to be running out of developable lots. But that seems to be the chief lament of the developers from Downtown to Conroe.

Not only that, but land and materials are getting expensive, and labor is in short supply.

I can understand the slim pickings in labor and materials, but land???

There are so many undeveloped or underdeveloped land all over the place.

I can understand that speculators sit on land for ages, but this is the time to build. If they still don't sell when prices are so strong they are never going to sell

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I can understand the slim pickings in labor and materials, but land???

There are so many undeveloped or underdeveloped land all over the place.

I can understand that speculators sit on land for ages, but this is the time to build. If they still don't sell when prices are so strong they are never going to sell

I agree, there is plenty of land, from downtown to the inner loop an beyond, undeveloped land is everywhere.

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One would think, but not everything out there is suitable. I see empty auto showrooms on the North Freeway, but nobody's in a hurry to redevelop them.

But that could change.

Actually a lot of the rundown spots on 45n are seeing new action. Its just that they are not concentrated so it doesn't really seem like anything is going on.

But I was mainly talking about the inner city. Downtown and the five or six miles to the south, east and north. Hmmm, that made me just think of something else, but I have derailed the thread enough.

I will get back to Hanover River Oaks.

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according to the folks who document these things, houston will have constructed 18,000 new units this year.  if there are 10,000 more i'm sure the CRBE would like to know.

 

http://www.bizjournals.com/houston/news/2014/08/22/demand-for-houston-apartments-is-at-an-all-time.html?page=2

i share your enthusiasm, however. whatever the number are, the building frenzy will not soon diminish.   i am curious as to how middle income people are supposed to live in the city.  not everyone can afford kirby or galleria highrises. all of this increased density is great, but if all of the low to middle income workers have to commute, density is for the well-off and traffic will continue to be an issue.  it will be an issue regardless, but middle income folks not having to commute helps, but that discussion is for another thread.

i hope the hanover river oaks makes pedestrian connectivity a priority.  if you simply drive in to your home and have little access to the street on foot, you reduce the possibility that developments like west avenue will succeed.  

i really like this tower.  i hope it CONNECTS well with its neighborhood.

 

There are still affordable places, they are just shifting. I think Westheimer, if nurtured properly, could become populated and offer an alternative to inside the loop. I have quite a few friends that live alongside or very close to Westheimer, there are lots of apartments especially at interesections like Fondren, HIllcroft, Gesnner, Wilcirest, Diary Ashford that were once lower income and now being refurbished for under 1000k per month for a 1 BR. 

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My biggest gripe is the loss of character in the near downtown neighborhoods. Wish there was someway to balance progress and history

 

Either deed restricted boundaries or a proactive and responsive local gov't entity (such as a particular arm of the City of Portland, OR) seem to be the only methods to grant neighborhoods the wherewithal to guide their own destiny.  Otherwise, citizens are at the mercy of private interests.  The stigma of government bloat and/or intrusion is palpable until the lack of gov't advocacy personally impacts the individual who previously accepts that tenet. 

Edited by nonenadazilch
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according to the folks who document these things, houston will have constructed 18,000 new units this year.  if there are 10,000 more i'm sure the CRBE would like to know.

 

Here's an update:

 

...Data from the Greater Houston Partnership also shows the the city of Houston hit another record in July for building permits issued. This includes a 27 percent increase for residential permits.

Under construction (red dots on map):

Projects: 85

Total units:23,781

Recently opened (Green on map):

Projects: 72

Total units: 19,923

Proposed Construction (yellow on map):

Projects: 61

Total units: 18,065...

 

http://blog.chron.com/primeproperty/2014/08/multifamily-construction-projects-spread-over-houston-region/#26279101=0

 

Edited by toxtethogrady
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  • 1 month later...

I think Hanover just got financing for their 3400 Montrose project. I'd expect lenders would want data about occupancy in their Post Oak project as well occupancy at some of the other highrises scheduled for delivery in the not-too-distant future before going ahead with this project. I am hopeful this will move forward in the coming years (given the quality of what Hanover has built in Rice Village)--once oil prices start to rise again.

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The Ashley Rug Story closing sign, yes. The Interiors place on W. Alabama I have no clue why it is closing, but it might have to do with the recent announcement that the rest of those apartments on Steel street were to close by the end of the year. Is this that mystical phase 3 west ave? or is Hanover planning something else along with this tower??

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Frankly, this city can't build residences fast enough. Unless oil prices are starting to take a dent out of demand, there are 22,000 rental units being absorbed a year, and 7,000 single family homes a quarter are disappearing. It takes a lot of homes and apartments to support 100,000 new jobs a year.

Edited by toxtethogrady
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I agree the city has need for new housing. However, I do wonder how much more luxury highrise development it can absorb.

 

many "luxury" apartments arent going to be counted as "luxury" after a decade. I know of quite a few buildings that were built in the past five years that are borderline nice now... And new construction inside the loop would be silly if they didnt go "luxury"... It just makes business sense to me that within the loop, more luxury units are built. There is a range. a 1,500 a month unit and a 3,5000 a month unit are likely both considered high end.

 

I still think we wont see a slow down...

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Luxury is a very loosely used term now a days. Every new project going up is considered "Luxury" by the developers. It has become more of a standard term then a actuality. The true luxury properties will stay nice while the others will be low income or middle class. It's a cycle nothing new here.

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This project is almost definitely happening. All of the stores on the property have big red and yellow signs that say "CLOSING" or "GOING OUT OF BUSINESS" an d there's a fence around the back side of the property.

 

How many times in Houston have we seen apartments, houses, buildings and retail centers torn down in anticipation of a nice new highrise or mixed use development only to see nothing happen? I can think of pently off the top of my head.

 

With that being said, I hope that is not the case with this one and the Kirby Collection.

Edited by citykid09
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many "luxury" apartments arent going to be counted as "luxury" after a decade. I know of quite a few buildings that were built in the past five years that are borderline nice now... And new construction inside the loop would be silly if they didnt go "luxury"... It just makes business sense to me that within the loop, more luxury units are built. There is a range. a 1,500 a month unit and a 3,5000 a month unit are likely both considered high end.

 

I still think we wont see a slow down...

Luxury or not, $1,500/month for a one or two-bedroom apartment is a lot of money for most people.

 

Our living standards in the US are so high. Luxury is very common these days. Everyone has granite counter tops these days, anyone can get hardwood or laminate flooring. Luxury has almost become the norm.

 

Twenty years ago, all these luxury apartments that people don't like to consider luxurious now would have been back then. 

 

I understand there is still another level luxury, but these "so called" luxury places people are trying to downplay are still very very nice.

 

Plus, I think the locations themselves are propping them up to luxurious status - that's part of it.

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How many times in Houston have we seen apartments, houses, buildings and retail centers torn down in anticipation of a nice new highrise or mixed use development only to see nothing happen? I can think of pently off the top of my head.

With that being said, I hope that is not the case with this one and the Kirby Collection.

At least it wouldn't be as bad as what Crescent did to downtown in anticipation of building "Houston Center".

What a massive kick in the balls THAT was, a travesty really.

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