H-Town Man Posted February 5, 2019 Share Posted February 5, 2019 2 hours ago, Urbannizer said: This comes in at #1 when complete Urbannizer sourcing Urbannizer. I like it. 6 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted February 5, 2019 Share Posted February 5, 2019 12 hours ago, Houston19514 said: Source? (Emporis had it at 468 feet) You are correct. I overlooked One Park Place. Edited my post to correct. The Emporis height was from when 2929 Weslayan was originally supposed to be 35 stories, I believe? 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 5, 2019 Share Posted February 5, 2019 25 minutes ago, cloud713 said: The Emporis height was from when 2929 Weslayan was originally supposed to be 35 stories, I believe? No. Read my later post. The Emporis height is the completed height of the building according to the filings with the FAA. 1 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted February 6, 2019 Share Posted February 6, 2019 11 hours ago, Urbannizer said: This comes in at #1 when complete This is the height stated on Emporis Houston for this building. 1 Quote Link to comment Share on other sites More sharing options...
bobruss Posted February 6, 2019 Share Posted February 6, 2019 I thought I read somewhere on haif, that those numbers from the FAA included sea level so where does this fit in with these numbers. I could be confused but I just want to know for sure. Quote Link to comment Share on other sites More sharing options...
Angostura Posted February 6, 2019 Share Posted February 6, 2019 On 2/4/2019 at 3:24 PM, Triton said: Just curious, what are the type of people who get these units? Are these people that usually move around the country that prefer not to buy a home and want a downtown view? I mean, I'm trying to figure out the math... at $3900 a month, why not just pay a mortgage and own a home? People who don't know where they'll be living in a few years. Let's say you have $3900/month to spend on housing, and plan on staying in the same place for four years. If you have $100k on hand for a down-payment, you can buy a $500k townhouse not too far a commute from here (probably EaDo, realistically) for a PITI of $3100. Add $200/month for maintenance, water/sewer and gas, and you're at $3300. Add in the foregone interest income on your down-payment, and it's $3600. Spread your closing costs over 48 months and you're at the same $3900 you'd be paying in rent. "But what about the equity you're building?" OK. After four years, you've paid off about $30k in principal. Guess how much a 6% commission is on the sale of your $500k townhouse? So it's pretty much a wash, UNLESS you see significant appreciation in the sale price four years down the road. Now, if you can live car-free in a $3900/mo apartment, but not in a $500k townhouse... 7 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 6, 2019 Share Posted February 6, 2019 12 hours ago, bobruss said: I thought I read somewhere on haif, that those numbers from the FAA included sea level so where does this fit in with these numbers. I could be confused but I just want to know for sure. The FAA documents include site elevation, height of the building above grade and total height above sea level. The 549' is the height of the building above grade. 3 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted February 19, 2019 Share Posted February 19, 2019 Height of 648' for the crane Work Schedule: 10/01/2019 to 10/01/2021 https://oeaaa.faa.gov/oeaaa/external/searchAction.jsp?action=displayOECase&oeCaseID=396423575&row=16 7 Quote Link to comment Share on other sites More sharing options...
Avossos Posted February 19, 2019 Share Posted February 19, 2019 20 minutes ago, Urbannizer said: Height of 648' for the crane https://oeaaa.faa.gov/oeaaa/external/searchAction.jsp?action=displayOECase&oeCaseID=396423575&row=16 OK, help me out here. Work schedule seems tight - only 2 years to build a 45 story tower. But starting in October? I would think they need to do demolition of the garage and prep work before the crane is needed. So despite being 7 months away, we should see movement on the site probably this summer? 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted February 19, 2019 Popular Post Share Posted February 19, 2019 Timeline given is for the crane (when it will be erected and when it'll be dismantled). Site work for The Preston begins next month. 17 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted February 26, 2019 Share Posted February 26, 2019 This was ZC’s design concept for Block 42: 6 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted February 26, 2019 Popular Post Share Posted February 26, 2019 (edited) I like the design they went with MUCH better than the ZC design. Hopefully this is an indication that artistic flair will become standard for new projects in Houston down the road. Edited February 26, 2019 by MarathonMan 16 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted February 26, 2019 Share Posted February 26, 2019 Looks like the full color image on the bottom left is Aris Market Square, so we just have the model to show us their Block 42 concept. Agreed that the Munoz Albin design is a step forward for downtown residential over the conventional rectangular stuff that this represents. 6 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted March 10, 2019 Share Posted March 10, 2019 Found something peeking out in this Texas Tower image. 8 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted March 12, 2019 Popular Post Share Posted March 12, 2019 Garage is closed and barricades are going up! The Texas Tower project next door will be interesting, but I’m most intrigued by The Preston. I think it truly raises the bar for residential high rises in Houston. 😁 21 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted March 13, 2019 Share Posted March 13, 2019 Those of you old enough may remember the area of Market Square park 25 to 30 years ago. It was crowded with winos and homeless people. This change is not as surprising as the collapse of communism in the 80's, but as a local event it is astonishing. If the international tower is ever built that will be icing on the cake. 5 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted March 13, 2019 Share Posted March 13, 2019 Or if something better and more fittting goes up than the international tower. 7 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted March 14, 2019 Share Posted March 14, 2019 On 3/12/2019 at 7:09 PM, Twinsanity02 said: Those of you old enough may remember the area of Market Square park 25 to 30 years ago. It was crowded with winos and homeless people. This change is not as surprising as the collapse of communism in the 80's, but as a local event it is astonishing. If the international tower is ever built that will be icing on the cake. It still is. Winos are now bar hoppers, and the homeless* are still around. It’s not nearly as unwelcoming even 15 years ago. 4 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted March 20, 2019 Share Posted March 20, 2019 Adding to MM's documentation, but it looks like the song of the jackhammers will re-commence soon. I wonder if they'll just drive Bobcats up the ramps and chip their way down. 7 Quote Link to comment Share on other sites More sharing options...
bobruss Posted March 20, 2019 Share Posted March 20, 2019 They're going to have to be very careful not to damage the Hogg lofts. I'd hate for that building to be disturbed. It was one of the first lofts downtown. 3 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted March 31, 2019 Popular Post Share Posted March 31, 2019 (edited) Prepping the building for demolition. Notice where part of the Hogg building juts out to the garage hopefully it's not someone's bedroom. Edited March 31, 2019 by hindesky 10 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 1, 2019 Share Posted April 1, 2019 I had previously thought that this project was unsubsidized. Turns out that it is being built in an Opportunity Zone, a program created by Trump's 2017 tax cut to increase investment to lower-income areas. Investors in such properties can avoid all capital gains tax if they hold their investment for ten years. Warms my heart to see the flow of funds to this lower-income area. http://realtynewsreport.com/2019/04/01/the-first-fruits-46-story-tower-breaks-ground-in-opportunity-zone-in-downtown-houston/ Looks like official groundbreaking might have been today? 3 1 4 1 1 Quote Link to comment Share on other sites More sharing options...
LBC2HTX Posted April 1, 2019 Share Posted April 1, 2019 1 hour ago, H-Town Man said: Investors in such properties can avoid all DEFER capital gains tax if they hold their investment for ten years. For a map of opportunity zones see here: https://www.cims.cdfifund.gov/preparation/?config=config_nmtc.xml Filter the layers menu on the right hand side. 4 Quote Link to comment Share on other sites More sharing options...
Texasota Posted April 1, 2019 Share Posted April 1, 2019 That link appears to require Flash. Since it is no longer 2007, here is a link to an ESRI-hosted map: https://esrimedia.maps.arcgis.com/apps/View/index.html?appid=77f3cad12b6c4bffb816332544f04542 1 1 Quote Link to comment Share on other sites More sharing options...
LBC2HTX Posted April 1, 2019 Share Posted April 1, 2019 Even better 😎 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted April 2, 2019 Share Posted April 2, 2019 4 hours ago, H-Town Man said: I had previously thought that this project was unsubsidized. Turns out that it is being built in an Opportunity Zone, a program created by Trump's 2017 tax cut to increase investment to lower-income areas. Investors in such properties can avoid all capital gains tax if they hold their investment for ten years. Warms my heart to see the flow of funds to this lower-income area. http://realtynewsreport.com/2019/04/01/the-first-fruits-46-story-tower-breaks-ground-in-opportunity-zone-in-downtown-houston/ Looks like official groundbreaking might have been today? On April 1st, it's hard to take some things seriously.😂 2 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 2, 2019 Share Posted April 2, 2019 2 hours ago, LBC2HTX said: For a map of opportunity zones see here: https://www.cims.cdfifund.gov/preparation/?config=config_nmtc.xml Filter the layers menu on the right hand side. From the article I cited: "If an Opportunity Zone investor holds the property for 10 years, the investment will be excluded from paying capital gains tax." From the Wikipedia entry: " Capital gain taxes are deferred for investments reinvested into investments in these zones and, if the investment is held for ten years, all capital gains on the new investment are waived." Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 2, 2019 Share Posted April 2, 2019 18 minutes ago, hindesky said: On April 1st, it's hard to take some things seriously.😂 That's what the article said... Quote Link to comment Share on other sites More sharing options...
Popular Post Twinsanity02 Posted April 2, 2019 Popular Post Share Posted April 2, 2019 Can't wait for this project to start. The market square area has turned into a real jewel for Houston. 10 Quote Link to comment Share on other sites More sharing options...
cspwal Posted April 2, 2019 Share Posted April 2, 2019 18 hours ago, H-Town Man said: I had previously thought that this project was unsubsidized. Turns out that it is being built in an Opportunity Zone, a program created by Trump's 2017 tax cut to increase investment to lower-income areas. Investors in such properties can avoid all capital gains tax if they hold their investment for ten years. Warms my heart to see the flow of funds to this lower-income area. http://realtynewsreport.com/2019/04/01/the-first-fruits-46-story-tower-breaks-ground-in-opportunity-zone-in-downtown-houston/ Looks like official groundbreaking might have been today? Why is downtown an Opportunity zone? I'm all for more investment downtown, but it's not exactly a "lower-income area" 2 Quote Link to comment Share on other sites More sharing options...
MarathonMan Posted April 2, 2019 Share Posted April 2, 2019 (edited) 15 minutes ago, cspwal said: Why is downtown an Opportunity zone? I'm all for more investment downtown, but it's not exactly a "lower-income area" Could the true “Opportunity” in Opportunity Zone refer to the windfall extended to real estate developers by our real estate developer President? Conflict of interest? Or mere coincidence? You decide. Regardless, I’m glad Hines is stepping forward to help lift Market Square out of its depression. Edited April 2, 2019 by MarathonMan 2 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 2, 2019 Share Posted April 2, 2019 18 minutes ago, cspwal said: Why is downtown an Opportunity zone? I'm all for more investment downtown, but it's not exactly a "lower-income area" I don't know how all of downtown was designated an Opportunity Zone given that it has the highest land values and office rents in the city. All I can guess is that someone was smart and moved the right levers. This is not typical of OZ's in other cities. In Dallas, only the southernmost part of downtown (around City Hall) is designated, which makes sense there. In Austin, none of downtown. San Antonio has most of its central downtown (including Riverwalk area) designated, but the office market there has long been stagnant. Atlanta has a small area of its downtown designated around the Five Points. At any rate, let's enjoy the windfall of cash that this will bring downtown. (Also EaDo, north downtown warehouse district, and Midtown east of Main.) I wonder if the Marriott Moxy is an OZ investment? Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted April 2, 2019 Share Posted April 2, 2019 4 minutes ago, H-Town Man said: I don't know how all of downtown was designated an Opportunity Zone given that it has the highest land values and office rents in the city. It's Trump. You do the math... 2 1 Quote Link to comment Share on other sites More sharing options...
iah77 Posted April 2, 2019 Share Posted April 2, 2019 All of near nothside, most of 5th ward, 3rd ward, and midtown are opportunity zones. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 2, 2019 Share Posted April 2, 2019 2 hours ago, toxtethogrady said: It's Trump. You do the math... I don't think he personally designated the zones. Probably officials in Texas. Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted April 2, 2019 Share Posted April 2, 2019 Very happy with the Preston going up and the awful garage going down. I hope these OZ's includes the south- southeast portion of the downtown. The Hamilton looks lonely out there by itself. 5 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted April 2, 2019 Share Posted April 2, 2019 7 minutes ago, Twinsanity02 said: Very happy with the Preston going up and the awful garage going down. I hope these OZ's includes the south- southeast portion of the downtown. The Hamilton looks lonely out there by itself. As was stated above, all of downtown Houston is an OZ. 3 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted April 2, 2019 Share Posted April 2, 2019 For anyone actually interested in the OZ designation process, here is some great information. In brief summary, yes the zones were nominated by the Governor of each state, and eligible census tracts are: -- Tracts in which the poverty rate is at least 20 percent, or -- Tracts in which the median family income does not exceed 80 percent of the statewide median family income if located outside of a metropolitan area, or -- Tracts in which the median family income does not exceed 80 percent of the statewide median family income or the metropolitan area median family income, whichever is higher. Special Rule: In order to provide real-world flexibility in assembling economically meaningful zones from individual census tracts, governors are permitted to substitute a small percentage of non-low-income census tracts in their nominations, as long as the tracts are contiguous with other nominated low-income tracts and the median family income does not exceed 125 percent of the adjacent qualifying tract. Not more than 5 percent of the total number of designated tracts in a state can qualify under this criterion. 5 Quote Link to comment Share on other sites More sharing options...
Tumbleweed_Tx Posted April 3, 2019 Share Posted April 3, 2019 so anyway, back to our regularly scheduled programming. Are they going to jackhammer the garage to death or are they going to blow it up? 5 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted April 3, 2019 Share Posted April 3, 2019 9 hours ago, Tumbleweed_Tx said: so anyway, back to our regularly scheduled programming. Are they going to jackhammer the garage to death or are they going to blow it up? Either way, the folks in the Hogg lofts are going to have a bad time. 2 2 Quote Link to comment Share on other sites More sharing options...
DrLan34 Posted April 3, 2019 Share Posted April 3, 2019 10 hours ago, Tumbleweed_Tx said: so anyway, back to our regularly scheduled programming. Are they going to jackhammer the garage to death or are they going to blow it up? I can see them starting off with jackhammering. I'll try to take photos when I can. 6 Quote Link to comment Share on other sites More sharing options...
mollusk Posted April 3, 2019 Share Posted April 3, 2019 Considering the issues they had with imploding part of the unoccupied Houston Club building, I can't imagine that they would have an implosion when there are people living a foot away. 3 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted April 3, 2019 Share Posted April 3, 2019 They are going to be extremely careful in taking this down, so zero chance for an implosion. I believe it is separated from Hogg Place by a few inches. 4 Quote Link to comment Share on other sites More sharing options...
Timoric Posted April 3, 2019 Share Posted April 3, 2019 (edited) - Edited July 12, 2019 by Timoric 2 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted April 3, 2019 Share Posted April 3, 2019 New exterior shutters going up at Hogg lofts courtesy of Cherry Demolition (or whoever is doing the work). 7 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted April 3, 2019 Share Posted April 3, 2019 Now that I think about it, I wonder if they will have to do something more permanent to these windows in that East facing wall to accommodate the new tower that will be there inches away. 2 Quote Link to comment Share on other sites More sharing options...
cspwal Posted April 4, 2019 Share Posted April 4, 2019 On 12/3/2018 at 2:57 PM, Urbannizer said: How far will it be set back from Hogg lofts? This rendering just shows it as a blank brick wall 3 Quote Link to comment Share on other sites More sharing options...
Luminare Posted April 4, 2019 Share Posted April 4, 2019 17 minutes ago, cspwal said: How far will it be set back from Hogg lofts? This rendering just shows it as a blank brick wall From the renderings and just from my back knowledge, I would say that they will build right up to the building line (aka the building next door, aka Hogg Lofts). Every inch of real-estate matters in downtown. Could be wrong though. 1 Quote Link to comment Share on other sites More sharing options...
cspwal Posted April 4, 2019 Share Posted April 4, 2019 Sucks for the people who had windows 2 Quote Link to comment Share on other sites More sharing options...
Luminare Posted April 4, 2019 Share Posted April 4, 2019 (edited) 57 minutes ago, cspwal said: Sucks for the people who had windows Maybe not. Did this quick sketch: Notice the jog the podium takes at one point. Notice how the building is oriented away from the windows. I understand the primary objective of the twist in the tower was for better views for the occupants of the building itself, but I'm sure before approval they might have had to do some adjustments to allow light into those other windows. My guess is that there is a shaft that gives a bit of separation at that moment where windows in Hogg Lofts occur. Not 100% sure. I mean this is from an interpretation of the rendering, but it wouldn't be out of the question. Edited April 4, 2019 by Luminare 6 1 Quote Link to comment Share on other sites More sharing options...
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