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Texas Tower (Block 58) by Hines, 47-Story Office Tower

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http://www.houstonchronicle.com/business/real-estate/article/Developer-seeks-reimbursement-in-downtown-tunnel-11217734.php

 

After more than a year of legal proceedings, the owner and developer of the downtown tract that formerly housed the Houston Chronicle's main offices is suing an adjacent property owner over the cost of building a "cocoon" around its basement during demolition in order to provide court-ordered protection for underground facilities.



 

Theater Square LP, an entity affiliated with the Linbeck construction family, said it intended to develop its property into a high-rise tower and wanted to protect access to downtown's extensive underground tunnel system through the section at 801 Texas. It filed suit, citing a 2007 contract with Hearst that granted it limited rights to the section of tunnel there.

 

On June 29, 2016, the court issued a temporary injunction order prohibiting Block 58 Investors from damaging the corridor for the tunnel system through the Chronicle basement. Two weeks later, the court assigned Theater Square responsibility for the costs incurred to protect the basement while the building above was dismantled.

 

Late last month, a judge ruled in favor of Block 58 Investors, deciding the group has the right to demolish and temporarily close the so-called Prairie Tunnel, and ruled that Theater Square LP is "solely responsible for restoring the Prairie Tunnel after demolition."

 

On June 2, Block 58 Investors filed a list of claims against Theater Square, demanding reimbursement for costs incurred by protecting the tunnel corridor during demolition of the Chronicle building, and other costs incurred during legal proceedings. 

 

Attorneys for Block 58 Investors did not respond to queries. A spokesman for Hearst did not return a call for comment. Theater Square declined to comment.

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Looks like it is going to be a classy parking lot, not just your run of the mill throw some asphalt on the rubble of whatever you knocked down type jobs.

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^^ True - it's even more permanent looking than Block 142 (where Bank of the Southwest was going to be).  Let's hope it doesn't stay vacant for anywhere near as long.

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8 hours ago, Nate99 said:

Looks like it is going to be a classy parking lot, not just your run of the mill throw some asphalt on the rubble of whatever you knocked down type jobs.

 

Based on some of the progress pics, it also features a subterranean drainage system that connects directly to the sewer. Fancy, indeed.

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Dammit, Hines does stuff right, including parking lots. I bet there's even an electric car charging station. Couple of them.

 

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28 minutes ago, H-Town Man said:

Dammit, Hines does stuff right, including parking lots. I bet there's even an electric car charging station. Couple of them.

 

 

They do. But I think self interest is a big reason as to why they're making this so nice, since so many of their properties surround it.

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Unfortunately this project for the surface lot looks too nice, lots of money being spent which doesn't bode well for a future high rise anytime soon.

 

qvqoD7y.jpg

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I'm glad that Hines is making a nice parking lot - but even a nice parking lot sucks to walk next to compared to a building or park - all that asphalt just holds in heat

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16 hours ago, hindesky said:

Unfortunately this project for the surface lot looks too nice, lots of money being spent which doesn't bode well for a future high rise anytime soon.

 

I'd guess that the costs sunk in to the parking lot aren't going to move the needle much for a future investment opportunity, whenever that comes around.  I see it more as a nice gesture on Hines' part keeping the place from looking rough like the International Tower block next door was before they started in on it.

 

In 30 years, those trees could nicely shade the sidewalks. one can hope that we won't find out.

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15 hours ago, BigFootsSocks said:

It's just an asphalt overlay and some trees. Much cheaper than a concrete lot.

Is asphalt cheaper than a permeable surface?

Edited by BeerNut
typo
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36 minutes ago, Nate99 said:

 

I'd guess that the costs sunk in to the parking lot aren't going to move the needle much for a future investment opportunity, whenever that comes around.  I see it more as a nice gesture on Hines' part keeping the place from looking rough like the International Tower block next door was before they started in on it.

 

In 30 years, those trees could nicely shade the sidewalks. one can hope that we won't find out.

 

one would think the parking fees will pay for the lot for and then some by the time construction begins.

 

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How old is Mr. Hines?  90?

 

my pure guess is that he will want to get this one finished before he rests the legacy that he has left for Houston.

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asphalt started going in today.

 

so it appears that the worlds longest parking lot project is nearing completion, another 3 months to paint the stripes and it should be open for business.

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41 minutes ago, BigFootsSocks said:

Hey the site works again. Management should create a twitter account to post updates on outages and maintenance periods. 

 

Just a thought.

 

It's only partially working. Search and Latest Posts don't work at all. I'm not sure what's going on here but the site is pretty useless as is.

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It's $20 per day, no hourly rates or in and out privileges.  They also just started offering monthly contracts - IDK how much those cost.  Nevertheless, it's better than the Toyota Center parking that Houston First is using to substitute for The Catacombs (unless one just likes adding a half hour plus each way to the daily commute for those of us in the NW corner of downtown).

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Why is there a clearance sign if it's a surface lot?  The only low clearance object in it is the clearance sign

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31 minutes ago, cspwal said:

Why is there a clearance sign if it's a surface lot?  The only low clearance object in it is the clearance sign

They're just preparing themselves for the flying car parking lot, which is directly above the car car parking lot.

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22 hours ago, cspwal said:

Why is there a clearance sign if it's a surface lot?  The only low clearance object in it is the clearance sign

You have to remember that there's nothing but dirt and asphalt under there; no concrete. A couple over-sized trucks could do more damage than the extra cost of the sign.

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Hines and Stream/Essex/Linbeck, itching and yearning to beat each other out of the ground, especially with the lawsuit animosity. I just hope that Hines does something a LITTLE DIFFERENT this time and not another Pickard Chilton, subtle-variation-on-the-same-blue-glass-theme tower. Not that the first two were bad, but it's getting a little repetitive. Or maybe they'll just keep turning them out and it will be like the 21st century version of all of Mies' tinted glass buildings in Chicago.

 

 

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Didn't the render for 6HC already claim the little wrench? 

 

I'm still interested in what they could accomplish by incorporating the old Chronicle garage spot in to their project. It might just be more garage, but that still could open up the development of the Texas St. block in to something that doesn't have to incorporate 9 levels of parking in its podium.

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17 hours ago, Timoric said:

Little wrench anyone? No seriously, I know that it has been stated Houston can't support super talls anymore at the price per square feet we can garner, but what is the smallest we can expect with amount Hines spent, what did he pay for demo and land $30M?

I believe they paid $50m+ for just the land. 

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2 hours ago, Nate99 said:

Didn't the render for 6HC already claim the little wrench? 

 

I'm still interested in what they could accomplish by incorporating the old Chronicle garage spot in to their project. It might just be more garage, but that still could open up the development of the Texas St. block in to something that doesn't have to incorporate 9 levels of parking in its podium.

 

That could be interesting. That spot also could become another residential tower, or I could easily see demand for a highrise upscale hotel to serve this neighborhood. Although it would be attractive to have an office tower without a garage stuck in, I am not sure that $500/SF land is something that you would put a garage on without anything above it. Also, no one is building office towers with floorplates that take up a full block (since these are high-amenity buildings where tenants want to be near windows), so better to have your garage on the same block with you since you can't build anything else vertical there anyway (so as not to block the views) than across the street where you can build something else vertical. If that makes sense.

 

Hines' original concept for this tower included a very non-parking garage use on the ground floor. But that idea is now gone with the Jones Hall renovation. That's about all I can say on that.

 

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2 hours ago, H-Town Man said:

 

That could be interesting. That spot also could become another residential tower, or I could easily see demand for a highrise upscale hotel to serve this neighborhood. Although it would be attractive to have an office tower without a garage stuck in, I am not sure that $500/SF land is something that you would put a garage on without anything above it. Also, no one is building office towers with floorplates that take up a full block (since these are high-amenity buildings where tenants want to be near windows), so better to have your garage on the same block with you since you can't build anything else vertical there anyway (so as not to block the views) than across the street where you can build something else vertical. If that makes sense.

 

Hines' original concept for this tower included a very non-parking garage use on the ground floor. But that idea is now gone with the Jones Hall renovation. That's about all I can say on that.

 

A Carnegie Hall style tower base? That would've been sublime. 

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7 hours ago, CREguy13 said:

I think the residential component is slated to be 40 - 45 floors.  Hopefully they are tearing down the garage and close to a groundbreaking - this is becoming a dense residential neighborhood.

Wow!

 

 

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This is making me happy to hear.  Full block for Hines to play with on Block 58 so hopefully the ground floor interaction is substantial.

 

Have you guys heard anything about the plans for Block 42?

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10 hours ago, CREguy13 said:

I think the residential component is slated to be 40 - 45 floors.  Hopefully they are tearing down the garage and close to a groundbreaking - this is becoming a dense residential neighborhood.

 

CRE - did you think the residential project will be on block 42 or on block 58? Your comment about tearing down the garage made me think perhaps this is 2 separate towers you saw? Both residential?

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14 minutes ago, CREguy13 said:

Right so for background, I was able to review Hines Block 58 Marketing book that highlighted all on their new office project (Block 58) in great detail.  On a few of the pages where they showed the impact on the skyline from different vantage points, they showed the proposed high rise on Block 42.  The proposed high rise was clearly residential and looked to be as tall if not a few floors taller than Market Square Tower, with nearly all glass facing Market Square park.  I have no knowledge of the project outside of these renderings - but the impact on the northern portion of our skyline was immense.  Hopefully the filing of these plats are a good sign.

 

Wow... I really need to lower my expectations right now because they are sky high!

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