Drewery Place: Multifamily High-Rise At 2850 Fannin St.

[Houston19514]

9 hours ago, BigFootsSocks said:

Anyone taking that comment as anything more than your typical CEO rhetoric to appease investors obviously doesn't understand the importance of overly enthusiastic optimism. Of course he takes a look at cycles, of course he watches whether the market is good or bad; you don't become the CEO of a billion dollar company by ignoring basic market economics. He's gotta sell this new (international) market to investors, and on a surface-level it may look brash and spontaneous and sexy, but be realistic; we're smarter than this. 

 

Except that he's not just CEO.  He's the CEO and Owner, using his own capital.  No investors or lenders to appease or impress.

[samagon]

9 hours ago, H-Town Man said:

 

The "it" in my "less than what it could be" was overall Midtown development, not this particular development. The phrase "especially within 3-4 blocks of the freeway" should have made that clear, but you may have been already excitedly typing your reply before you read that part of the sentence.

 

 

apologies then.

 

Your logic is still flawed: (rise, post, 2222 smith, camden midtown, etc) some of the largest developments in midtown up until recently are all within your radius of the freeway in midtown. 

 

I'd be happy to continue the discussion in another thread, just let me know where.

[BigFootsSocks]

40 minutes ago, Houston19514 said:

 

Except that he's not just CEO.  He's the CEO and Owner, using his own capital.  No investors or lenders to appease or impress.

Ok, good for him, but he's entering into a market that he's never worked in before, and as an owner, that further proves what I was trying to say; he's smart and knows that being abrasive will drum up interest in the project, but let's not entertain the notion that he's ignoring market trends and basic economic logic, and somehow believe that's a good sign. He's unproven and we should be cautious about this project.

[Discography 114]

I'm cautious about every posting I read here. Haif has a proven track record of attracting many posters who don't have a clue.

[Houston19514]

2 hours ago, BigFootsSocks said:

Ok, good for him, but he's entering into a market that he's never worked in before, and as an owner, that further proves what I was trying to say; he's smart and knows that being abrasive will drum up interest in the project, but let's not entertain the notion that he's ignoring market trends and basic economic logic, and somehow believe that's a good sign. He's unproven and we should be cautious about this project.

 

You're putting words in his mouth.  All the article says is: 

"Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand.

"I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad.""

 

Nowhere has anyone claimed that he ignores market trends and basic economic logic.

[BigFootsSocks]

12 hours ago, H-Town Man said:

Here's another article. I'm starting to like this guy.

 

http://www.theaustralian.com.au/business/property/speed-key-to-driving-inner-city-success/story-fn9656lz-1226722231280

 

Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand.

"I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad."

 

15 minutes ago, Houston19514 said:

 

You're putting words in his mouth.  All the article says is: 

"Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand.

"I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad.""

 

Nowhere has anyone claimed that he ignores market trends and basic economic logic.

 

I wasn't so much addressing Mr. Russo as I was addressing what Htown Man said; though by "putting words in his mouth" I assume you mean "smart enough to analyze what Mr. Russo said and why he said it I that specific way"? 

Edited May 4, 2016 by BigFootsSocks

[Timoric]

-

 

Edited July 10, 2019 by Timoric

[j_cuevas713]

12 hours ago, OkieEric said:

I drove by this site tonight on Fannin and saw some "Common Ground" signs (which are also visible in Street View).  Here is the flier for the listings:

 

https://www.dropbox.com/s/x63d4xugyutyaw6/Midtown.3.Acres.pdf?dl=0

 

 

Undoubtedly the block on the lower left is the one indicated in the Caydon brochure, but from this it looks like that Art Supply building wasn't part of the deal?

 

 

I hope not. That Art Supply store has some character and it would be nice to have that in Midtown permanently.

[Triton]

Some current projects:

 

 

 

 

 

 

[Houston19514]

1 hour ago, BigFootsSocks said:

 

 

I wasn't so much addressing Mr. Russo as I was addressing what Htown Man said; though by "putting words in his mouth" I assume you mean "smart enough to analyze what Mr. Russo said and why he said it I that specific way"? 

 

Please enlighten us.  Why did Mr. Russo say what he said in that specific way at that specific time?  ;-)

Edited May 4, 2016 by Houston19514

[H-Town Man]

4 hours ago, samagon said:

 

apologies then.

 

Your logic is still flawed: (rise, post, 2222 smith, camden midtown, etc) some of the largest developments in midtown up until recently are all within your radius of the freeway in midtown. 

 

I'd be happy to continue the discussion in another thread, just let me know where.

 

No samagon, you've convinced me. Having an elevated freeway like the Pierce has no influence on the real estate potential of nearby blocks, as evidenced by Post Midtown Square, Camden Midtown, etc.

 

[BigFootsSocks]

1 hour ago, Houston19514 said:

 

Please enlighten us.  Why did Mr. Russo say what he said in that specific way at that specific time?  ;-)

Who knows mate

 

 

ahhhhh u get it?

[H-Town Man]

3 hours ago, BigFootsSocks said:

 

 

I wasn't so much addressing Mr. Russo as I was addressing what Htown Man said; though by "putting words in his mouth" I assume you mean "smart enough to analyze what Mr. Russo said and why he said it I that specific way"? 

 

Umm, all I said was "Here's another article. I'm starting to like this guy." The rest was a quote from the article.

 

[Houston19514]

2 hours ago, BigFootsSocks said:

Who knows mate

 

 

ahhhhh u get it?

 

Yeah, I get it.  Quite well.  I get that you have been spinning a web of untruths on this topic from the beginning. 

 

Let's play the tape:

 

He said very simply that he doesn't want to have to rely on up cycles to be able to trade.  That's all he said.  He did not (nor did H-Town Man) say any of the other words you attempted to put in his mouth.

 

You claimed he would have said such things (including things he didn't actually say) in order to appease investors.  When it was pointed out he doesn't have investors, you changed the alleged motivation to the fact that he's entering a new market and would say such things in order to sound abrasive to drum up interest in his new project, apparently ignorant of the fact that the quote was made not to a Houston journalist, but to a local Australian journalist regarding Australian projects... in September 2013.

 

Almost every word you've said about this matter has been incorrect.

[BigFootsSocks]

3 hours ago, H-Town Man said:

 

Umm, all I said was "Here's another article. I'm starting to like this guy." The rest was a quote from the article.

 

Yeah I know, and all I wrote was a comment on what you said, asserting my suspicions to his (Russo's) statement that he doesn't take note of cycles and can sell in a market whether it's good or bad. I wasn't assaulting your comments like Houston19514 thinks I've been doing, so I guess I'm sorry (spoiler; I'm not) 

he took it that way? 

 

50 minutes ago, Houston19514 said:

 

Yeah, I get it.  Quite well.  I get that you have been spinning a web of untruths on this topic from the beginning. 

 

Let's play the tape:

 

He said very simply that he doesn't want to have to rely on up cycles to be able to trade.  That's all he said.  He did not (nor did H-Town Man) say any of the other words you attempted to put in his mouth.

 

You claimed he would have said such things (including things he didn't actually say) in order to appease investors.  When it was pointed out he doesn't have investors, you changed the alleged motivation to the fact that he's entering a new market and would say such things in order to sound abrasive to drum up interest in his new project, apparently ignorant of the fact that the quote was made not to a Houston journalist, but to a local Australian journalist regarding Australian projects... in September 2013.

 

Almost every word you've said about this matter has been incorrect.

I'm not gonna address your first paragraph because it's such a wildly inaccurate accusation.

 

As for the 2nd half of your tirade, see what I wrote above. Fine, so he doesn't have investors, he's still the CEO of a billion dollar business; I'm not "putting words in his mouth" like you think I am, because I'm at least intelligent enough to deconstruct what he's saying, which I've already explained above, rather than take everything at face value. The fact that it was to an Australian publication rather than a Houston publication has no impact on what I'm saying. He's a business man, and like many other people who are in the upper-management levels of a major company, speaks in grandiose and "flashy " rhetoric to promote his business. That's how the corporate world works, and if you can't understand that just look up the many various websites of architectural or major development firms. It's all the same rhetoric and is taken from the same dichotomy. Whether he said it in 2013 or now doesn't matter; he can't get his business to the point it's at by ignoring basic economic trends because that's so utterly illogical it's impossible for a man and a company of his stature.

 

I dont care care if you agree with me or not, but what you and I have said today are neither incorrect or wrong, they're our opinions. (Oh look I can italicize words to make my comment seem so dramatic. ) You're trying to argue semantics with me and it's utterly pointless because no one "wins" and no one else here cares. 

Edited May 4, 2016 by BigFootsSocks

[Angostura]

On 5/3/2016 at 9:14 PM, Montrose1100 said:

600 units on one of those blocks with a Piazza? Over exaggeration of the word or a very tall tower. 

 

 

From the article:

 

Quote

He has also bought a second site across the road that will hold more than 600 apartments, with plans including shops and a piazza.

 

 

A site with 600 apartments, shops and a "piazza" sounds a lot like the superblock (albeit off on the number of apartments).

 

I'm guessing the interviewer heard that he bought a second site, and that across the road is a site that will hold 600 apartments, shops and a piazza, and mistakenly conflated the two.

 

 

[Elseed]

Any news on this project?

[BigFootsSocks]

Before I opened this thread I was wondering how the hell we have 4 pages of posts here...and then I realized half of them are mine...whoops...

[Urbannizer]

Subdivision Plat filed! 2850 Fannin (Common Grounds block). Experiencing errors trying to attach the file

 

 

 

[corbs315]

5 hours ago, Urbannizer said:

Subdivision Plat filed! 2850 Fannin (Common Grounds block). Experiencing errors trying to attach the file

 

 

 

Dammit! I've been googling for news on this one every day

[corbs315]

Gah! I missed one day. There was a press release yesterday - not much new info:

 

http://caydon.com.au/portfolio-newsletter-houston-takes-off/

[Urbannizer]

24 minutes ago, corbs315 said:

Gah! I missed one day. There was a press release yesterday - not much new info:

 

http://caydon.com.au/portfolio-newsletter-houston-takes-off/

 

Nice! There's actually some good new info there - Opened an office in Houston, Jan. 2017 start date, 380 units, ZC is the architect and a rendering! Midtown's second residential high-rise!

 

 

[phillip_white]

Maybe the East Midtown curse has finally been lifted. 

[Avossos]

My guess is 21 stories

[DrLan34]

http://www.chron.com/business/real-estate/article/Caydon-planning-Midtown-apartment-development-8506248.php

 

There's a shout out to SkyScraperPage and Urbannizer via the links below at the end of the article.

 

"Caydon could not be reached immediately for more details, but this local real estate forum suggests the sites are along Main Street across from the Superblock."

[H-Town Man]

29 minutes ago, DrLan34 said:

http://www.chron.com/business/real-estate/article/Caydon-planning-Midtown-apartment-development-8506248.php

 

There's a shout out to SkyScraperPage and Urbannizer via the links below at the end of the article.

 

"Caydon could not be reached immediately for more details, but this local real estate forum suggests the sites are along Main Street across from the Superblock."

 

Skyscraperpage, wtf. Nancy you know you read HAIF, don't try to kid around and throw everyone off with a different source. Nancy... come on....

 

[Sellanious Caesar]

This Australian developer purchased the land to build 1,000 units there. Now we have details that their first tower will have 380 units. So basically that leaves 620 units for their future phases after their first tower is complete. Initially the reports seemed to lean towards 2 towers overall, but if there is 620 units to still build out after the first tower, that makes me think that their future development will be 1) multiple towers to split the remaining 620 units with or 2) a very tall and imposing tower that can hold 620 units. 

 

This project is exciting, especially because its in Midtown. I've been spending a lot of time in Midtown recently, wow, its so different than 5 years ago. So much construction everywhere in Midtown. A lot of cranes along Main Street. This will be great. 

 

Long live this developer!

[cspwal]

Or maybe a midrise with very small units

[Houston19514]

On July 28, 2016 at 2:33 PM, DrLan34 said:

http://www.chron.com/business/real-estate/article/Caydon-planning-Midtown-apartment-development-8506248.php

 

There's a shout out to SkyScraperPage and Urbannizer via the links below at the end of the article.

 

"Caydon could not be reached immediately for more details, but this local real estate forum suggests the sites are along Main Street across from the Superblock."

 

Hmmm... the opening paragraph says construction will start in January and then it quotes the developer as saying construction will commence in November...

[corbs315]

Re-plat on the agenda for August 4.

[79ta]

7 hours ago, Houston19514 said:

 

Hmmm... the opening paragraph says construction will start in January and then it quotes the developer as saying construction will commence in November...

 

the developer must be on Australian time...

[MarathonMan]

8 hours ago, Houston19514 said:

 

Hmmm... the opening paragraph says construction will start in January and then it quotes the developer as saying construction will commence in November...

November was the start time the developer mentioned in an article published in March.  January is the updated start time, as stated in the July publication.

[Houston19514]

23 minutes ago, MarathonMan said:

November was the start time the developer mentioned in an article published in March.  January is the updated start time, as stated in the July publication.

 

Link to the March article?

 

In any case, another example of sloppy journalism from the Chron.

Edited August 2, 2016 by Houston19514

[MarathonMan]

10 hours ago, Houston19514 said:

 

Link to the March article?

 

In any case, another example of sloppy journalism from the Chron.

http://caydon.com.au/portfolio-newsletter-overview-from-joe-russo/

[Houston19514]

12 hours ago, MarathonMan said:

November was the start time the developer mentioned in an article published in March.  January is the updated start time, as stated in the July publication.

 

1 hour ago, MarathonMan said:

http://caydon.com.au/portfolio-newsletter-overview-from-joe-russo/

 

 

FWIW, that March newsletter never mentions a November start.  It says "later this year."

[MarathonMan]

2 hours ago, Houston19514 said:

 

 

 

FWIW, that March newsletter never mentions a November start.  It says "later this year."

I don't really care to quibble over semantics.  There was a publication that specifically mentioned a November start date, but after a quick search I couldn't find it.  But, yes, technically you are correct.  It doesn't mention November in the link I posted.

[Urbannizer]

Subscribed article: http://www.bizjournals.com/houston/news/2016/08/05/apartment-developer-from-down-under-expands-to.html

 

*Edit* Looks like the article just goes over whats already been discussed here. https://www.bisnow.com/houston/news/multifamily/australian-developer-wants-in-on-midtown-multifamily-market-63705?rt=23715

 

[phillip_white]

There have been cars parked at the site for the past week or two, but I didn't think too much of it.  Went by today and there is some sort of ventilation system running as well as signs warning that asbestos is present.  Looks like they've either started or are preparing to start the abatement process... which would be a good sign that something is moving forward. A little sad though to lose this quirky graffiti enclave.

[Urbannizer]

http://houston-texas-us.blogspot.com/2016/08/browning-out-weekend-at-mhmra-ruins-in.html

 

 

Cleaning up the graffiti..maybe a sign the building is part of the plan? Why do this if it's slated for demo??

 

 

 

Asbestos warning tape:

 

[cspwal]

Maybe they want it to look clean on the outside while they work on the inside.  It would be strange though if they're going to demolish it

[phillip_white]

So far they have only painted the side facing toward Nouveau and half of the side facing Main.  Up close, the paint is not thoroughly applied and there are globs of dirt and other stuff that were just covered up.  This looks to me like they are just trying to polish it up in the short term... for what reason, I don't know.

[Montrose1100]

29 minutes ago, phillip_white said:

So far they have only painted the side facing toward Nouveau and half of the side facing Main.  Up close, the paint is not thoroughly applied and there are globs of dirt and other stuff that were just covered up.  This looks to me like they are just trying to polish it up in the short term... for what reason, I don't know.

Super Bowl (if it's coming down after)?

[phillip_white]

This may explain the mysterious paint:

 

 

Edited September 19, 2016 by phillip_white
updated URL

[hindesky]

On 5/2/2016 at 5:29 PM, Urbannizer said:

 

Via Streetview:

New murals going up but not finished yet. The rain slowed progress, will go back Sunday to see if they were able to finish.

[

img]http://i.imgur.com/ZGFR1Cp.jpg[/img]

[Urbannizer]

http://www.wylieassociates.com/project/caydon-midtown-apartment-building/

 

Quote

 

New Apartment Building Including:

– Outdoor Pool, Fitness Area, and Club/Meeting Area

– 14,000 SF, Shell Retail Space

– 208,200 SF, Parking Garage

26-floors 

EDIT: Renderings removed at the demand of Large arts in Collingwood, Australia.  —Editor

 

[cloud713]

The pool deck should have a great view of downtown. I wonder if the larger balcony recessed on the top floor will be a common area?

[UtterlyUrban]

I am torn by this project.  

 

On the one hand, I think it's great and I hope that it gets built soon.

 

on the other, in my minds eye, I always thought of mid-town as, "mid-rise and townhomes" and downtown was for high-rises.

 

i am sure that I will be able to get over the latter though!

[MarathonMan]

Very nice!

[corbs315]

I guess that greenspace is the superblock park? Groovy.

[Twinsanity02]

2 hours ago, UtterlyUrban said:

I am torn by this project.  

 

On the one hand, I think it's great and I hope that it gets built soon.

 

on the other, in my minds eye, I always thought of mid-town as, "mid-rise and townhomes" and downtown was for high-rises.

 

i am sure that I will be able to get over the latter though!

Keep in mind there are several high rises going up in the midtown, museum, montrose area ( not to mention the Med Center).