goodfella Posted February 4, 2006 Share Posted February 4, 2006 Wow, he already has 80% reserved? I wonder how long till construction begins. It seems there was more of an interest in this building compared to empire.It is actually the fastest selling building in Houston to date. There are now around 90% reservations on the building, but how that will translate to actual sales...The building will probably be 70-80% sold in pre-construction. I believe they have already submitted for their foundation permits and construction should start in late march/early april. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 4, 2006 Share Posted February 4, 2006 You know though, that is just the kind of overdone marketing that will separate some people from their money. One would think that the person who has made enough money to afford one of these pads would not fall for it, but every day you see average products with extraordinary prices, and a certain demographic has to have it...$100 wine openers, etc. Just yesterday, I saw an article about baby clothes and accessories for "yoga momas"...$129 Italian leather booties and $800 strollers.We may pan some of Randall Davis' designs, but his ability to market to people with more money than taste should not be underestimated.Red Scare...I was wondering if you have ever been into their sales center and seen the design and interior finishes? I don't know that this is a "more money than taste situation." It is, for certain, quite a departure from his previous projects and the materials and design are quite high-end. Quote Link to comment Share on other sites More sharing options...
lwood Posted February 6, 2006 Share Posted February 6, 2006 Red Scare...I was wondering if you have ever been into their sales center and seen the design and interior finishes? I don't know that this is a "more money than taste situation." It is, for certain, quite a departure from his previous projects and the materials and design are quite high-end.We do need to give Randall credit for finding the high rise market that others cannot find. This building and Emerald By The Sea in Galveston are successful. While the price range and high rise lifestyle may not be for me it obviously is right for others. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 6, 2006 Share Posted February 6, 2006 I believe the price range is a function of construction costs. While townhome developers are constructing homes for 60-80/sf, hi-rise developer are subject to commodity costs of steel concrete and petroleum based products - all of which have gone through the roof - and have costs 2-3x what stick construction costs.The problem is that Houston is so undervalued a real estate market, you can still buy a townhome for $130/sf. As land prices have increased over the past few years and the price of single family homes, especially in the best areas have shot up (river oaks is now around $350/sf) the difference between condos and single family homes is getting smaller. As land continues to increase, I think condos will start to be an option for people who can'r afford a single family home and sales will pick up in this end of the market. Quote Link to comment Share on other sites More sharing options...
caroline Posted February 16, 2006 Share Posted February 16, 2006 Heard from the architect's office that the project has been released and drawings are in full swing. Push is to get to permit in the next 60 days. Very exciting.http://www.cosmopolitanhouston.com Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 16, 2006 Share Posted February 16, 2006 Sh-weet!! Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 20, 2006 Share Posted February 20, 2006 I heard they are tearing down the JCI on March 15th, so get you last chili-cheese dogs in while you can. They are now 100% reserved - a record for Houston and will start converting to contracts in Mid March. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 20, 2006 Share Posted February 20, 2006 100%?That's impressive if true. Hell, 85% would be impressive. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 20, 2006 Share Posted February 20, 2006 Some reservations always fall out. So 100% reservations usually amount to about 70% sales - which still isn't bad for pre-construction. Plus, the developer will keep taking reservations (over-reserve) while he converts to contracts. Quote Link to comment Share on other sites More sharing options...
LTAWACS Posted February 22, 2006 Share Posted February 22, 2006 why not in downtown? Quote Link to comment Share on other sites More sharing options...
WesternGulf Posted February 22, 2006 Share Posted February 22, 2006 why not in downtown?are you xelee? Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 22, 2006 Share Posted February 22, 2006 why not in downtown? what do you mean? Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 22, 2006 Share Posted February 22, 2006 why not in downtown? what do you mean?You see, there's a philosophy by some that virtually any and every highrise tower, be it residential or commercial, should be built in the "center" of the city. In Houston, this causes quite a bit of frustration for people who adhere to this philosophy. I imagine they're often ill-tempered as a result.In either case, the Uptown/Post Oak/Galleria area is a no brainer for more upscale highrise construction. The location has established itself. The money is there. The amenities are there. I'd be an utter nut to not acknowledge the benefits that a developer would reap if he were to plan and construct a highrise residential tower in this area of the city.Doesn't mean that DT does have the potential either, but the bottom line, repeated over and over again within the market, is that DT is more speculative, and with speculative projects, it's probably a better idea to make price an inticement rather than a potential obstacle for your potential customer.The Cosmopolitan would be a high-risk development in the DT of today. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 22, 2006 Share Posted February 22, 2006 I agree. As a matter of fact, cosmopolitan would more than likely be a failure in DT of today, as would any project at that price point in DT.Galleria, Uptown has become the virtual dt of this city. It has the offices, as well as the density of high end retail that define dowtown areas in most cities.Also, it seems that most of the succesful high-rise projects in Houston have another thing in common. They are all anchored by high end residential neighborhoods, which is where you get your downsizers from. Montebello, Cosmo and Villa d'este all have tanglewood and memorial. Gotham and Renoir have river oaks etc. Downtown does not have a high-end adjacent neighborhood. Quote Link to comment Share on other sites More sharing options...
zaphod Posted February 22, 2006 Share Posted February 22, 2006 JCI is nasty! Wienerschnitzel Rules!good riddance.... Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted February 28, 2006 Share Posted February 28, 2006 I agree. As a matter of fact, cosmopolitan would more than likely be a failure in DT of today, as would any project at that price point in DT.Galleria, Uptown has become the virtual dt of this city. It has the offices, as well as the density of high end retail that define dowtown areas in most cities.Also, it seems that most of the succesful high-rise projects in Houston have another thing in common. They are all anchored by high end residential neighborhoods, which is where you get your downsizers from. Montebello, Cosmo and Villa d'este all have tanglewood and memorial. Gotham and Renoir have river oaks etc. Downtown does not have a high-end adjacent neighborhood.You are exactly right IMO. Downtown Houston is an enigma. In most cities, even in other Texas cities, downtown markets can command high square foot prices. Not Houston though. In Houston, if you are there after dark, you are lost. That is chaning somewhat, which is great. The new projects announced by the GRB will help significantly if they get off of the ground. However, until we get more residential and more GROUND LEVEL retail, it will be more of the same. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 28, 2006 Share Posted February 28, 2006 Yes. Also, Uptown Houston (uptown-houston.com) is working in a very smart way on the continued development of the uptown corridor. Between their agreements with the city and TX DOT, there are significant imporvements to infrastructure and an ongoing effort to develop and brand uptown as the mixed use center of houston. Look at fast facts at http://www.uptown-houston.com/info/uptownFacts.htmlI wish that the downtown district was as proactive, or that they had such substantial support behind them. Quote Link to comment Share on other sites More sharing options...
elecpharm Posted February 28, 2006 Share Posted February 28, 2006 I wish that the downtown district was as proactive, or that they had such substantial support behind them.central houstonhouston downtowndowntown district Quote Link to comment Share on other sites More sharing options...
torvald Posted February 28, 2006 Share Posted February 28, 2006 elecpharm --- my have missed a post somewhere but what does your name mean? Quote Link to comment Share on other sites More sharing options...
firstngoal Posted February 28, 2006 Share Posted February 28, 2006 Yes. Also, Uptown Houston (uptown-houston.com) is working in a very smart way on the continued development of the uptown corridor. Between their agreements with the city and TX DOT, there are significant imporvements to infrastructure and an ongoing effort to develop and brand uptown as the mixed use center of houston. Look at fast facts at http://www.uptown-houston.com/info/uptownFacts.htmlI wish that the downtown district was as proactive, or that they had such substantial support behind them.Dead on. Uptown is quite unified and progressive in getting the message out. Central Houston is not... they are totally reactive and way behind the times. If you look outside of Houston - and Texas, other downtown organizations seem light years ahead of Houston's downtown groups. Look at San Diego, Seattle, Denver, etc....What is really sad is if you click on the photos at the top of the Central Houston website they discuss the groundbreaking and anticipated completion dates for such landmarks as the Hobby Center, Toyota Center, etc... uh, they do know they've opened now, right? Well, I'm not so sure... Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted April 5, 2006 Share Posted April 5, 2006 Dead on. Uptown is quite unified and progressive in getting the message out. Central Houston is not... they are totally reactive and way behind the times. If you look outside of Houston - and Texas, other downtown organizations seem light years ahead of Houston's downtown groups. Look at San Diego, Seattle, Denver, etc....What is really sad is if you click on the photos at the top of the Central Houston website they discuss the groundbreaking and anticipated completion dates for such landmarks as the Hobby Center, Toyota Center, etc... uh, they do know they've opened now, right? Well, I'm not so sure...James Coney is gone as of yesterday. Quote Link to comment Share on other sites More sharing options...
houstonfella Posted April 5, 2006 Share Posted April 5, 2006 (edited) I'm assuming that because there is a huge residential base in Uptown as opposed to Downtown, that might be the reason that Uptown has "it goin' on" and is more organized that Downtown? Just a thought in this regard. The Uptown facts blow me away. Edited April 5, 2006 by houstonfella Quote Link to comment Share on other sites More sharing options...
Ethanra Posted May 30, 2006 Share Posted May 30, 2006 I drove by the site today and looks like they were preparing to put up the crane. I wonder if this was the official groung breaking? Quote Link to comment Share on other sites More sharing options...
goodfella Posted June 23, 2006 Share Posted June 23, 2006 They are just finishing their pre-sales and have sold 75% of the building in preconstruction and had to add three floors as it sold so quickly. Quote Link to comment Share on other sites More sharing options...
Gary Posted June 23, 2006 Share Posted June 23, 2006 They are just finishing their pre-sales and have sold 75% of the building in preconstruction and had to add three floors as it sold so quickly.So that means it's going to top out at 23 floors? Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted June 23, 2006 Share Posted June 23, 2006 (edited) JCI is nasty! Wienerschnitzel Rules!good riddance.... YOU ARE SO WRONG !!!! BTW, there are still plenty of JCI's around for us loyal followers to get there fix. One question for you Zaphod: Are you from Houston originally or a transplant? The reason I ask is that many transplanted Houstonians do not feel the loyality to Houston's old guard resturants / delis. I am referring to JCI and Antones. I grew up eating those places and there is a nostalgic taste to both. Too bad for you Wienershchnitzel could not make it in Houston. JCI ran their behinds out of town AS for the Original Thread. I think the Cosmo Condos loof fantastic. I was ripping on Randall Davis a few months ago. Since then I have looked at Diamond Beach and now this project. Wow, he is really putting some nice product out there. I wish I were rich. Life sounds good in a chi chi chic condo. Edited June 23, 2006 by Trophy Property Quote Link to comment Share on other sites More sharing options...
goodfella Posted June 23, 2006 Share Posted June 23, 2006 23 floors it is. Plus, the penthouse owner on the top floor gets a private roof terrace above his unit on the 24th floor with a private glass recreation room/lounge. The mechanical tower extends up another 2 stories about from the looks of the model. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted June 23, 2006 Share Posted June 23, 2006 I don't know why I thought the Cosmopolitan was only 15 floors. Even if it's only 21, it will stand higher than what I was thinking. Quote Link to comment Share on other sites More sharing options...
ricco67 Posted August 21, 2006 Share Posted August 21, 2006 just drove by for the first time in awhile and noticed that its been demolished. anyone know whats going up there?i thought it was related to another thread here, but it was the wrong address. Quote Link to comment Share on other sites More sharing options...
Gary Posted August 21, 2006 Share Posted August 21, 2006 just drove by for the first time in awhile and noticed that its been demolished. anyone know whats going up there?i thought it was related to another thread here, but it was the wrong address.Check the link.http://houston.bizjournals.com/houston/sto.../15/story4.html Quote Link to comment Share on other sites More sharing options...
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