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

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The idea of taking out the Chron building and replacing it with surface parking as a semi long term place holder makes some sense, but the parking garage is functional (if dirty) and Hines has a unit that exists to run parking garages.  It seems odd they would also take it out immediately if there isn't some sort of relatively short term plan to build on that site.  But then again, Hines doesn't do a whole lot of land warehousing, do they?

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Very interesting.

 

717 Texas (Calpine) is going to be cut off from the tunnels as long as there is nothing on the Chronicle block.  It is managed by Hines, I believe. Not sure if anything should be read into that.

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Definitely a different appearance. Chase is a hideously ugly building that has aged poorly. The only reason why I "like" this building is because it's a supertall and the tallest in Texas. But having a building equal in height could be interesting for sure.

 

it's still the 2nd tallest west of the Mississippi, and only by about 16'.

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that was fast!!! it would not surprise me if Hines has something up their sleeve for another development within the year.

 

Ralph Bivins is speculating that it will be a 2018 ground breaking and 2020 completion.

 

http://realtynewsreport.com/2015/10/20/hines-buys-houston-chronicle-property-in-downtown-houston/

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I think what we are going to be seeing here for the foreseeable future is surface parking. 

 

Wha? Highly unlikely, Hines and surface parking does not compute.

 

I hope they put up a residential high-rise for the parking garage site.

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I don't think there is any question there are two highrises, or at least one, coming our way. It's just a matter of when. Right next to a great park, the historic district and their own project across the street? It's a no doubter.

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Tearing down the garage seems more indicative of something happening to me.  Unless there is something horridly wrong with the elevators that have to be fixed to keep the place open, I can't imagine that its not paying for itself in operating costs. 

 

Is there a reason that the thread title has the address of the garage and not the building, which would be a Texas, Prairie, Milam or Travis address?

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There should be ample demand for parking in the garage, so it does seem odd to tear it down when it could generate a revenue stream. Would Hines have someone lined up for a BTS structure?

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I'm hearing rumors of a mixed use hotel/office/residential tower over 100 stories for this Hines owned block.

You didn't mention the W so I can't tell if you're being sarcastic or not.
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Wha? Highly unlikely, Hines and surface parking does not compute.

 

I hope they put up a residential high-rise for the parking garage site.

 

The reason I think so is that the market for downtown high-rises seems constrained at the moment.  Capitol Tower is uncertain, and 6 Houston Center and International Tower were cancelled for the time being.  Hines has purchased property for long-term development in the past and sat on it, so it doesn't seem that unlikely a scenario.

 

All that said, I would also love to see another residential high-rise in the vicinity.

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Wonder if they will try to buy the adjacent block from Essex. Then you could really start getting creative.

I was wondering that too.. Hines would have 2 full blocks and 2 half blocks all in a cluster for one massive developmemt.

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You didn't mention the W so I can't tell if you're being sarcastic or not.

 

LOL. I think he is being serious.

 

A 3-use tower makes perfect sense for this location. On the garage site I'd put a hotel/residence combo.

 

I also like keeping the tallest towers relatively close to one another, with all of them sloping up to a center like a pyramid. I'll take 'em anywhere, too.

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It could be Gerald Hines swan song

 

I think you're right. Can you imagine how stinkin awesome it would be too? Gonna blow our socks off.

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Definitely a different appearance. Chase is a hideously ugly building that has aged poorly. The only reason why I "like" this building is because it's a supertall and the tallest in Texas. But having a building equal in height could be interesting for sure.

 

Just curious as to why you think it has aged poorly? Is the building in disrepair or has it suffered from neglect that has not been disclosed? I have worked on the 73rd floor going on 6 years now and I think it's one of Houston's more beautiful buildings, inside and out. Tourists queue up sometimes to take pictures on the 60th floor. I also see tourists take selfies outside with the tower in their background. Seems like an iconic, classic building.  

 

Count me in on wishing for a twin tower building being built one day. Not a similar or fraternal twin, but an actual twin tower.

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I'm hearing rumors of a mixed use hotel/office/residential tower over 100 stories for this Hines owned block.

 

 

You didn't mention the W so I can't tell if you're being sarcastic or not.

 

if he had mentioned ground floor retail I'd agree with you on the sarcasm, so it seems he's being serious.

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if he had mentioned ground floor retail I'd agree with you on the sarcasm, so it seems he's being serious.

 

If it didn't have at least a restaurant on the first floor I'd be a little surprised.

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Not sure if Howard Huge is serious but that would make a ton of sense. Just some reasons I can think of:

 

-On the fringe of major office buildings with existing tunnel access

-Next to existing and and new residential

-Next to existing night life/foot traffic

-Next to the theater district

-On one of the most diverse streets in Houston

-Would compliment the height of 600 Travis

 

My only thought about going higher than 600 Travis would be the drop off. We thought it was bad already, imagine if they went taller.

Edited by urbanize713

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Not sure if Howard Huge is serious but that would make a ton of sense. Just some reasons I can think of:

 

-On the fringe of major office buildings with existing tunnel access

-Next to existing and and new residential

-Next to existing night life/foot traffic

-Next to the theater district

-On one of the most diverse streets in Houston

-Would compliment the height of 600 Travis

 

My only thought about going higher than 600 Travis would be the drop off. We thought it was bad already, imagine if they went taller.

 

what do you mean by drop off? Meaning it would be much higher than the others making it look awkward?

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Just curious as to why you think it has aged poorly? Is the building in disrepair or has it suffered from neglect that has not been disclosed? I have worked on the 73rd floor going on 6 years now and I think it's one of Houston's more beautiful buildings, inside and out. Tourists queue up sometimes to take pictures on the 60th floor. I also see tourists take selfies outside with the tower in their background. Seems like an iconic, classic building.  

 

Count me in on wishing for a twin tower building being built one day. Not a similar or fraternal twin, but an actual twin tower.

Yeah I don't get that opinion either. I think this building is awesome.

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what do you mean by drop off? Meaning it would be much higher than the others making it look awkward?

 

I would not say akward but just pronouced drop north of 600 Travis. If they went higher it would just be that much more pronounced, that is all I was saying. With that said I dont care, ha

Edited by urbanize713

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Just curious as to why you think it has aged poorly? Is the building in disrepair or has it suffered from neglect that has not been disclosed? I have worked on the 73rd floor going on 6 years now and I think it's one of Houston's more beautiful buildings, inside and out. Tourists queue up sometimes to take pictures on the 60th floor. I also see tourists take selfies outside with the tower in their background. Seems like an iconic, classic building.  

 

Count me in on wishing for a twin tower building being built one day. Not a similar or fraternal twin, but an actual twin tower.

 

First, it's a very dull building with little aesthetic appeal. Second, especially when you're right up next to it, the building needs power washing. There is black something (mold?) around the windows where the water runs off the building. I dunno, I just don't much care for the way it looks. Nothing personal lol. Love the height tho.

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lol until the houston economy gets better we arent seeing no 100 story building. cmon lol

 

To be fair, he didn't say when it would start. 

 

They've gotta fill up 609 first anyway, so like Ralph Bivins said, I would expect it to start until 2018ish anyway, but that doesn't mean Hines doesn't know what they have and what they can build.

 

HAIFers will be wetting their pants for the rest of their lives.

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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

Edited by cloud713

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lol until the houston economy gets better we arent seeing no 100 story building. cmon lol

Yeah, I think that's pretty much the plan. Who said they were breaking ground tomorrow? :lol:

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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.

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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 by cloud713
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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.

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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.

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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.

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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.

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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?

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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.

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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.

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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.

 

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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

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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. 

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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

B

E

N

G

Houston is DOOMED.

A

Z

I

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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. :D   

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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. 

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