Jump to content

Recommended Posts

http://www.houstonchronicle.com/business/real-estate/article/New-apartments-add-to-downtown-boom-6013209.php?t=bd840817c3&cmpid=twitter-premium

 

New apartments add to downtown boom

Project proposing 290 rental units receives approval, which leaves incentive program near its cap

 

Incentive program near its cap... I am not joking, Camden seriously needs to be taken out of the program. This would free up units for a developer who plans to build before the Superbowl which I thought was the initiative of the program... isn't that right? I mean, overall its to get more units downtown but I thought city council also wanted it in specific time period. Guess I should just go to the Camden thread to rant... Maybe we can get KPRC to cover this story.  :P

  • Like 3
Link to comment
Share on other sites

Incentive program near its cap... I am not joking, Camden seriously needs to be taken out of the program. This would free up units for a developer who plans to build before the Superbowl which I thought was the initiative of the program... isn't that right? I mean, overall its to get more units downtown but I thought city council also wanted it in specific time period. Guess I should just go to the Camden thread to rant... Maybe we can get KPRC to cover this story.  :P

 

From the linked article (I know it's not often one finds useful information in a Chronicle article, but once in a while...):

 

"In order to receive the reimbursement, the developers have one year from the date they sign the incentive agreement to get the project into the city permitting department, after which time they have three years to get a certificate of occupancy."

Edited by Houston19514
  • Like 5
Link to comment
Share on other sites

Really?

I wonder why Finger would not go for the incentives. Are there strings attached?

 

The project was announced prior to the creation of the program and is therefore ineligible for the incentives. 

 

"Although Finger was a pioneer in the recent push to build residential in the east Central Business District, he will not get a piece of the Downtown Management District’s incentive-program pie — at least, not on this project.

 

One month after he released his plans, the Downtown Management District announced its Downtown Living Initiative, which the city passed Aug. 22, offering $15,000 per unit in tax rebates to qualifying developers who create homes or multifamily projects in the eastern portion of the CBD. It is intended to double the number of residences downtown and spur development throughout the area by 2016.

“It was a big secret, I didn’t know about the plan,” he said.

Finger completed the 346-unit, 37-story One Park Place development overlooking Discovery Green in 2009. His new ballpark project will be seven stories, with Atlanta-basedNiles Bolton Associates designing the complex.

Finger did not win retroactive incentives from the city, however, Houston City Council did pass an economic development agreement Aug. 15 that gave the Finger Cos. the rights to a stretch of Prairie Street that runs through the land he owns.

“I started knocking on the city’s door to request they abandon the street, and that’s a big deal for the city to close a street, especially one that flows right into the entrance to the baseball stadium,” he said. “But, it’s a street, it’s not $15,000 per unit.”

To be clear, Finger says he is not at odds with the city or the district and he may still try to take part in the incentive program if the opportunity arises before its cutoff date in 2016."

http://www.bizjournals.com/houston/print-edition/2012/12/21/finger-dishes-on-new-project-future.html?page=all

  • Like 9
Link to comment
Share on other sites

http://www.houstonchronicle.com/business/real-estate/article/New-apartments-add-to-downtown-boom-6013209.php?t=bd840817c3&cmpid=twitter-premium

 

New apartments add to downtown boom

Project proposing 290 rental units receives approval, which leaves incentive program near its cap

 

Only 45 units left in the program as of January 12th, 2015 according to this memo:

 

http://www.downtownhouston.org/site_media/uploads/attachments/2015-01-12/150112_HDMD_DLI_Cap_Memo.pdf

 

Edit: According to similar memo dated 12/24/14 only 207 units remained. Between Christmas and Monday 162 units were approved. I wonder what project those units belong to?

 

http://www.downtownhouston.org/site_media/uploads/attachments/2014-12-29/141224_HDMD_Applicant_Memo_on_DLI_Closeout.pdf

Edited by Sparrow
Link to comment
Share on other sites

  • 1 month later...
  • 2 months later...
  • 4 weeks later...
  • 4 months later...

I checked out the lot last night. Doesn't look like there's any holes for soil testing (at least that I saw) but I did notice that there is a distinct hump in the middle of the lot - it was never really paved very well

Are you suggesting they did not soil test? The machine was there so I assume they did...

Link to comment
Share on other sites

  • 2 months later...
  • 2 months later...

http://www.downtowntirz.com/downtownhouston/wp-content/uploads/2016/03/160216_Authority-Meeting-Minutes.pdf

Mr. Leach (authority) introduced the request to authorize the execution of a first amendment to Fairfield Residential's economic development grant agreement. The developer's management team submitted a request to change the name of their owner entity from FF REALTY II, LLC, to BOP 1810 MAIN LLC.

Following discussion, upon a motion made by director Mandel and seconded by director Sanbino, the board voted  unanimously to approve the execution of a first amendment to the economic development grant agreement by and between the Authority, Zone, City and FF REALTY II, LLC, now BOP 1810 MAIN LLC, by the appropriate officers of the authority.

Link to comment
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...