Howard Huge Posted October 24, 2015 Share Posted October 24, 2015 lol until the houston economy gets better we arent seeing no 100 story building. cmon lolYeah, I think that's pretty much the plan. Who said they were breaking ground tomorrow? Quote Link to comment Share on other sites More sharing options...
lockmat Posted October 24, 2015 Share Posted October 24, 2015 Im sorry but this Ralph Bivins guy seems like hes just playing crap shoot guesstimating the date.. Not sure why anyone is putting stock in what he has to say. Ralph is a long time Houston real estate reporter and probably knows a little more than the average HAIFer. I'm not saying take what he says to the bank but I think he has a good reputation. Plus, I think what he says makes perfect sense anyway considering current economic conditions. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted October 24, 2015 Share Posted October 24, 2015 (edited) Ralph is a long time Houston real estate reporter and probably knows a little more than the average HAIFer. I'm not saying take what he says to the bank but I think he has a good reputation. Plus, I think what he says makes perfect sense anyway considering current economic conditions.Edit: I don't know whT I'm saying anymore. Married my cousin off earlier. Lol Edited October 24, 2015 by cloud713 2 Quote Link to comment Share on other sites More sharing options...
lockmat Posted October 24, 2015 Share Posted October 24, 2015 Im sorry but this Ralph Bivins guy seems like hes just playing crap shoot guesstimating the date.. Not sure why anyone is putting stock in what he has to say. And Lockmat, what do you mean that doesn't mean "Hines doesn't know what they have.."? Are you implying Hines dropped $55 million on a random property in hopes that their investment plays out? Lulz What I meant is they do know what they have. They don't care what current conditions are. They know the value of the site. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted October 24, 2015 Share Posted October 24, 2015 What I meant is they do know what they have. They don't care what current conditions are. They know the value of the site.Ah for sure. Why should they care? The best time to invest is when the market is down. Quote Link to comment Share on other sites More sharing options...
wxman Posted October 24, 2015 Share Posted October 24, 2015 Not to mention if this IS a 100+ story building, it would take years to complete anyway. Far longer than any project to date in this city probably. What? 3 years maybe? It's hard to forecast market conditions for next year much less three years but it only stands to reason we won't be in the oil slump we're in now at that time. Quote Link to comment Share on other sites More sharing options...
lockmat Posted October 24, 2015 Share Posted October 24, 2015 Not to mention if this IS a 100+ story building, it would take years to complete anyway. Far longer than any project to date in this city probably. What? 3 years maybe? It's hard to forecast market conditions for next year much less three years but it only stands to reason we won't be in the oil slump we're in now at that time. As long as the global financial collapse doesn't happen in the next couple of years, yes.  What I'm curious about is, what would a garage podium look like or be incorporate to a 100+ tower in Houston. If he could put a good portion of it in the ground that would be good. Quote Link to comment Share on other sites More sharing options...
Popular Post Sunstar Posted October 24, 2015 Popular Post Share Posted October 24, 2015 Wish we still had this: Â 12 Quote Link to comment Share on other sites More sharing options...
lockmat Posted October 24, 2015 Share Posted October 24, 2015 Did they even make ugly buildings back then? I almost wouldn't believe that was Houston except for the sign. Was this the Chronicle site? 1 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted October 24, 2015 Share Posted October 24, 2015 I tend to not take financial advice from lockmat...just saying. 5 Quote Link to comment Share on other sites More sharing options...
rechlin Posted October 24, 2015 Share Posted October 24, 2015 No, that photo is of what is now the JW Marriott. It basically looks the same today, just without the clock and with a couple light rail lines on either side. Quote Link to comment Share on other sites More sharing options...
Sunstar Posted October 24, 2015 Share Posted October 24, 2015 So there was another Majestic there too? Quote Link to comment Share on other sites More sharing options...
rechlin Posted October 24, 2015 Share Posted October 24, 2015 I don't know how many there were. All I know is that photo is looking down Rusk from Main towards Travis, and there is the Second National Bank and Majestic Theater on the left side of Rusk there. The Chronicle building is 2 blocks to the right of that photo. 1 Quote Link to comment Share on other sites More sharing options...
mkultra25 Posted October 25, 2015 Share Posted October 25, 2015 There were three different Majestic theaters in Houston. The Majestic Metro that survives was not one of them - it was originally the Ritz. http://cinematreasures.org/theaters/1672 http://www.cinemahouston.info/mmetro.shtml 1 Quote Link to comment Share on other sites More sharing options...
astros148 Posted October 25, 2015 Share Posted October 25, 2015 Small town businesses are closing ship in downtown, you have a new office tower on capital waiting to be build with the foundation already set in place. On top of this you have 609 main in the mix, you have a prolonged oil slump which forecasters have predicted once the Iranian oil market hits, the saudis will have no intent on playing ball again. This 100 story tower isnt going to get built for years, the houston economy is in the DUMPS right now. Get a gasp of reality some of you guys. Theres a reason why Cheveron shelved their skyscraper and other projects have been put on hold. Small town businesses are closing ship in downtown, you have a new office tower on capital waiting to be build with the foundation already set in place. On top of this you have 609 main in the mix, you have a prolonged oil slump which forecasters have predicted once the Iranian oil market hits, the saudis will have no intent on playing ball again. This 100 story tower isnt going to get built for years, the houston economy is in the DUMPS right now. Get a gasp of reality some of you guys. Theres a reason why Cheveron shelved their skyscraper and other projects have been put on hold. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted October 25, 2015 Share Posted October 25, 2015 Says the guy who is taking these people seriously, who took a joke very seriously. Jesus guys you gotta learn to read sarcasm and/or crappy "jokes" on the Internet 2 Quote Link to comment Share on other sites More sharing options...
Sunstar Posted October 25, 2015 Share Posted October 25, 2015 I don't know how many there were. All I know is that photo is looking down Rusk from Main towards Travis, and there is the Second National Bank and Majestic Theater on the left side of Rusk there. The Chronicle building is 2 blocks to the right of that photo. Glad we still have it then. I was afraid that was what was under the cladding of the Houston Chronicle Building. Quote Link to comment Share on other sites More sharing options...
Popular Post tigereye Posted October 25, 2015 Popular Post Share Posted October 25, 2015 Small town businesses are closing ship in downtown, you have a new office tower on capital waiting to be build with the foundation already set in place. On top of this you have 609 main in the mix, you have a prolonged oil slump which forecasters have predicted once the Iranian oil market hits, the saudis will have no intent on playing ball again.This 100 story tower isnt going to get built for years, the houston economy is in the DUMPS right now. Get a gasp of reality some of you guys. Theres a reason why Cheveron shelved their skyscraper and other projects have been put on holdBENGHouston is DOOMED.AZI 10 Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted October 25, 2015 Share Posted October 25, 2015 Houston is not doomed! Hines most likely will tear down the property and hold it when it is time. Hines then will build another spectacular supertall.  Remember everything he built here and made Houston what it is.    1 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted October 25, 2015 Share Posted October 25, 2015 Yeah Hines typically moves extremely slow, and their due diligence is second to none. There are numberous committees within HInes that pass approval to these projects. I can't reallly comment as much on the hotel, but equity for Multifamily and Office is completely dried up from any domestic investor. The amount of sublease space coming on the market in CBD coupled with new office construction will total a few million square feet of vacancy. In my opinion, the only way this thing finds legs in the next 5-7 years is if they go smaller on the office portion 600-700k SF, and more aggressive on the hotel flag (1000 rooms) and MF/Condo (400-500 units). There are a number of tenants downtown that range in the 250-350k with leases rolling every few years, but not as many whales 500-1000k SF tenants that would leave their current buildings, when they likely already have building signage rights and likely prefer much lower rates. One can only speculate, but maybe EPP has intent to move to this building eventually and wanted to have some ownership through an affiliate - along with their longstanding relationship with Hines. A lot would have to occur for that to happen, but who knows.  Clearly, more interest is coming downtown then before, but my guess is this will be a parking lot for the next 10 years, unfortunately. The Hines effect on surrounding buildings is real, and I think that 609 main and their Market Square MF will change this area of downtown. There are just too many unknowns and not enough demand for this project quite yet and we are years away. Again, this is all my opinion. 9 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted October 26, 2015 Share Posted October 26, 2015 Did they even make ugly buildings back then? I almost wouldn't believe that was Houston except for the sign. Was this the Chronicle site? No, that was the current JW Marriott (806 Main?). Esperson building is in the background, along with a movie theater in between. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted October 26, 2015 Share Posted October 26, 2015 Yeah Hines typically moves extremely slow, and their due diligence is second to none. There are numberous committees within HInes that pass approval to these projects. I can't reallly comment as much on the hotel, but equity for Multifamily and Office is completely dried up from any domestic investor. The amount of sublease space coming on the market in CBD coupled with new office construction will total a few million square feet of vacancy. In my opinion, the only way this thing finds legs in the next 5-7 years is if they go smaller on the office portion 600-700k SF, and more aggressive on the hotel flag (1000 rooms) and MF/Condo (400-500 units). There are a number of tenants downtown that range in the 250-350k with leases rolling every few years, but not as many whales 500-1000k SF tenants that would leave their current buildings, when they likely already have building signage rights and likely prefer much lower rates. One can only speculate, but maybe EPP has intent to move to this building eventually and wanted to have some ownership through an affiliate - along with their longstanding relationship with Hines. A lot would have to occur for that to happen, but who knows.  Clearly, more interest is coming downtown then before, but my guess is this will be a parking lot for the next 10 years, unfortunately. The Hines effect on surrounding buildings is real, and I think that 609 main and their Market Square MF will change this area of downtown. There are just too many unknowns and not enough demand for this project quite yet and we are years away. Again, this is all my opinion.  You mentioned a month or two ago that there might be an announcement soon related to downtown office space. Did what you were thinking of end up happening or fall through, or is it still in process? Appreciate your insights. Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted October 26, 2015 Share Posted October 26, 2015 Small town businesses are closing ship in downtown, you have a new office tower on capital waiting to be build with the foundation already set in place. On top of this you have 609 main in the mix, you have a prolonged oil slump which forecasters have predicted once the Iranian oil market hits, the saudis will have no intent on playing ball again. This 100 story tower isnt going to get built for years, the houston economy is in the DUMPS right now. Get a gasp of reality some of you guys. Theres a reason why Cheveron shelved their skyscraper and other projects have been put on hold. Small town businesses are closing ship in downtown, you have a new office tower on capital waiting to be build with the foundation already set in place. On top of this you have 609 main in the mix, you have a prolonged oil slump which forecasters have predicted once the Iranian oil market hits, the saudis will have no intent on playing ball again. This 100 story tower isnt going to get built for years, the houston economy is in the DUMPS right now. Get a gasp of reality some of you guys. Theres a reason why Cheveron shelved their skyscraper and other projects have been put on hold.Talk about a downer Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted October 26, 2015 Share Posted October 26, 2015 Wish we still had this:  All I can say right now is WOW! 1 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted October 27, 2015 Share Posted October 27, 2015 You mentioned a month or two ago that there might be an announcement soon related to downtown office space. Did what you were thinking of end up happening or fall through, or is it still in process? Appreciate your insights.It was a lead tenant for Capitol Tower and the deal fell through on the goal line. It was close to being signed, but can't really elaborate anymore. There are still some larger tenants in the market downtown, but we'll see with the current condtions. 4 Quote Link to comment Share on other sites More sharing options...
Triton Posted October 27, 2015 Share Posted October 27, 2015 It was a lead tenant for Capitol Tower and the deal fell through on the goal line. It was close to being signed, but can't really elaborate anymore. There are still some larger tenants in the market downtown, but we'll see with the current condtions. Damn. 1 Quote Link to comment Share on other sites More sharing options...
Avossos Posted October 27, 2015 Share Posted October 27, 2015 It was a lead tenant for Capitol Tower and the deal fell through on the goal line. It was close to being signed, but can't really elaborate anymore. There are still some larger tenants in the market downtown, but we'll see with the current condtions.Uggghhhh close the deal!!!! 1 Quote Link to comment Share on other sites More sharing options...
Subdude Posted October 27, 2015 Share Posted October 27, 2015 Yeah Hines typically moves extremely slow, and their due diligence is second to none. There are numberous committees within HInes that pass approval to these projects. I can't reallly comment as much on the hotel, but equity for Multifamily and Office is completely dried up from any domestic investor. The amount of sublease space coming on the market in CBD coupled with new office construction will total a few million square feet of vacancy. In my opinion, the only way this thing finds legs in the next 5-7 years is if they go smaller on the office portion 600-700k SF, and more aggressive on the hotel flag (1000 rooms) and MF/Condo (400-500 units). There are a number of tenants downtown that range in the 250-350k with leases rolling every few years, but not as many whales 500-1000k SF tenants that would leave their current buildings, when they likely already have building signage rights and likely prefer much lower rates. One can only speculate, but maybe EPP has intent to move to this building eventually and wanted to have some ownership through an affiliate - along with their longstanding relationship with Hines. A lot would have to occur for that to happen, but who knows.  Clearly, more interest is coming downtown then before, but my guess is this will be a parking lot for the next 10 years, unfortunately. The Hines effect on surrounding buildings is real, and I think that 609 main and their Market Square MF will change this area of downtown. There are just too many unknowns and not enough demand for this project quite yet and we are years away. Again, this is all my opinion.  Sounds reasonable.  Thanks for a very informative post.  As you say, surface parking seems a likely outcome for a while to come.  It wouldn't be the first time they have used blocks for parking for extended periods. Quote Link to comment Share on other sites More sharing options...
BUfan13 Posted November 10, 2015 Share Posted November 10, 2015 From Realty News Report this morning "Hines also recently acquired the Houston Chronicle building, which is a couple of blocks from Pennzoil Place. The Chronicle will be torn down and replaced with new high-rise development. A timetable for the Chronicle block development has not been set, but Realty News Report is projecting a 2018 groundbreaking and a 2020 completion there." 7 Quote Link to comment Share on other sites More sharing options...
Subdude Posted November 10, 2015 Share Posted November 10, 2015 I didn't realize they planned them so far out, but it makes perfect sense.  They want to be in place for the next real estate development upswing, just like with 609 Main for this one.  Quote Link to comment Share on other sites More sharing options...
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