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...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.