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Australian Developer Planning Five High-Rises for Midtown


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https://www.chron.com/business/real-estate/article/Kimpton-Hotels-to-open-first-Houston-property-in-14488855.php            

324' feet 379 units 481 parking spaces  216 bicycle spaces 13,888 square feet of retail   EDIT: Renderings removed at the demand of Large arts in Collingwood, Australia.

Project: Tower A (Hotel and Condos) Address: 2701 Main Street Houston, TX 77002   Architect: Preston Partnership   Information: A 32-story hotel/co

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39 minutes ago, htownbro said:

Here's a rendering of what the tower would look like.  27 stories

 

That's the wrong tower. The rendering you posted is for the tower Caydon (the Australian company) is building. We have already received renders of their 27-story tower.

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12 hours ago, BigFootsSocks said:

Caydon has three towers going up? Well damn.

Their stuff in Melbourne looks quite nice.  I'll feel a lot more confident about these towers if Caydon can get a construction loan for The Midtown to move forward on that.  Some of what I've been reading (can't remember the source but it was one of Swamplot's linked articles) suggested Houston could turn into a landlord's market by late 2019.

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On 7/22/2017 at 9:59 PM, houstontexasjack said:

Their stuff in Melbourne looks quite nice.  I'll feel a lot more confident about these towers if Caydon can get a construction loan for The Midtown to move forward on that.  Some of what I've been reading (can't remember the source but it was one of Swamplot's linked articles) suggested Houston could turn into a landlord's market by late 2019.

Bisnow article:  https://www.bisnow.com/houston/news/economy/waiting-for-the-bounce-as-houston-rebounds-back-76781

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1 hour ago, H-Town Man said:

 

Paywall... any relevant quotes you can give?

 

Oh sorry! It's not if you google news search it. Here:

 

Quote

Private lender Development Fin­ance Partners is backing ­Melbourne developer Caydon Property Group with a funding injection of more than $100 million.

 

Caydon’s projects include suburban Melbourne apartments, as well as developments in the US where it is building a 27-storey, 357-apartment and retail project in Houston, and a 30-storey, 200-apartment site in Seattle.

 

The DFP deal comes as bank funding becomes more difficult to access for some developers, due to tighter lending restrictions placed on banks by APRA. The clampdown has forced some developers to turn to alternative lenders.

 

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  • 2 weeks later...

Looking at the text a bit more closely, it appears Caydon is not moving forward with additional towers on these sites, at least not in the near future--the Greensheet building is being renovated, for example.  However, additional retail and residential is most welcome in that area.

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57 minutes ago, houstontexasjack said:

Looking at the text a bit more closely, it appears Caydon is not moving forward with additional towers on these sites, at least not in the near future--the Greensheet building is being renovated, for example.  However, additional retail and residential is most welcome in that area.

The Greensheet building being renovated does not mean they are not moving forward - the Caydon site surrounds the building and is excluded.  If anything, I would guess they start working on plans sooner rather than later.

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31 minutes ago, corbs315 said:

This is all good news but what's the story with greensheet?  I know they announced something a while ago but doesn't look like it's been touched. 

 

My guess is that they are waiting for tenants to sign leases before moving forward with the renovation, and having trouble with that since the city's office market is in the dumps and new office product was just delivered in Midtown a few blocks away. But having a bunch of residential towers materialize out of thin air around them won't hurt.

 

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1 hour ago, CREguy13 said:

The Greensheet building being renovated does not mean they are not moving forward - the Caydon site surrounds the building and is excluded.  If anything, I would guess they start working on plans sooner rather than later.

Interesting.  That might explain the height of the FAA filing that we got on this one.  The building could be a tall-skinny tower next to Greensheet, and would need the height to get in a larger number of units.  

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2 hours ago, Angostura said:

With the additional density added to this area in the last several years, it's time to extend the CBD's exemption from parking minimums at least to Elgin between Bagby and 59, if not the entire "crotch" between the Spur/Bagby and 59. 

 

The good news is... I think It already goes to McGowen

Edited by Houston19514
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I was looking through old MRA/MMD documents and came across this in the June 29th MRA minutes. I'm wondering if the half acre park is in reference to Midtown Park or if they will use their other land as a park until it's ready for development. The Sky Bar sounds cool, but I think we've heard of several others currently in the works.

 

Keep in mind this is almost two months old.
 

The Midtown Info - MRA Minutes 06.29.2017

 

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  • 1 month later...

Does anyone have recent photos of the site? I stopped by this lot after checking out the now-open Midtown Park. It appears there is a gravel drive for heavy trucks (looks like it's been there a while), but next to it is what appeared to be a freshly unloaded pile of sand. This is the first change I've seen in months.

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2 hours ago, corbs315 said:

Any concern that they're spooked by Harvey?

 

You mean, since Midtown didn't flood and all the apartments in Houston suddenly got leased afterward? I bet they wish it was already under construction.

 

The only way that Harvey could be a negative for upcoming developments in non-flooding areas is if construction prices go up due to the demand for skilled labor.

 

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25 minutes ago, H-Town Man said:

 

You mean, since Midtown didn't flood and all the apartments in Houston suddenly got leased afterward? I bet they wish it was already under construction.

 

The only way that Harvey could be a negative for upcoming developments in non-flooding areas is if construction prices go up due to the demand for skilled labor.

 

Haha fair. Leave me be with my pessimism.

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  • 3 weeks later...

So did this one lose 2 floors and 20+ feet?

 

So glad to see it coming to fruition. This is what Midtown needs along the rail corridor. I can envision a "wilshire" like stretch of high rises connecting downtown and Hermann Park some day. 

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5 hours ago, nate4l1f3 said:

I’m confused on the title of the thread. Is there renderings for all 3 towers?

There's renderings for 2850 Fannin and FAA filings for two additional towers.  Very glad to hear 2850 Fannin is going forward. I saw plastic barriers up around the site on the drive home tonight, and the chain link fence that previously blocked it off has been taken down.

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