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The Preston (Block 42) Residential High-Rise: 46-stories

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Tax Break to Help Poor Communities Became a Windfall for the Rich

 

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In Houston, construction recently started on the Preston, with 373 “luxury for rent” apartments as well as a “skydeck” and a resort-style swimming pool. The development is being financed by the investors in Cresset, a multibillion-dollar asset management firm, including one of its founders, Avy Stein.

 

Not sure if this is best thread for this article but it does mention the Preston.   

 

Edited by BeerNut
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2 hours ago, brijonmang said:

I'm not having any luck viewing it... it's keeping me at a login page.  Do you need an account to view them now?

same happening to me when I try to login using any of the login techniques :(

 

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I think it is. It says block 42 and its the same # of floors as the Preston.

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Posted (edited)

I think this might be the opposite of what i'm thinking is happening. This might be a good thing? I mean it looks like construction is still ongoing, but what do they mean by pulling the permit though?

Edited by TheSirDingle
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13 minutes ago, hindesky said:

What does that mean, "Hines pulls the permit"?

 

4 minutes ago, TheSirDingle said:

I think this might be the opposite of what i'm thinking is happening. This might be a good thing? I mean it looks like construction is still ongoing, but what do they mean by pulling the permit though?

 

She is showing that they applied for a building permit, which confirms the floor height and the construction estimate. Even though they've already started work on the foundation, that's not necessarily a green light for going vertical. This is good news that the project is full steam ahead. 

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1 minute ago, phillip_white said:

 

 

She is showing that they applied for a building permit, which confirms the floor height and the construction estimate. Even though they've already started work on the foundation, that's not necessarily a green light for going vertical. This is good news that the project is full steam ahead. 

The word "pulls" scared tf out of me, I thought they were stopping the project all together. Thanks for the clarification though.

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Reminds me of that time in the early 80's when the Bank of the Southwest "pulled" the permits for their building, mwahahahaha!

 

J/k.

 

"Pull permits" means "get permits."

 

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46 minutes ago, TheSirDingle said:

The word "pulls" scared tf out of me, I thought they were stopping the project all together. Thanks for the clarification though.

Did sound worrisome and confusing since the activity on the site didn't connect with "pull out" which is what I thought when I read the post. 

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My heart can’t handle another BOTSWT catastrophe. I’m still heart broken over that building even tho it was proposed and scrapped before I was even born lol

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11 hours ago, phillip_white said:

 

 

She is showing that they applied for a building permit, which confirms the floor height and the construction estimate. Even though they've already started work on the foundation, that's not necessarily a green light for going vertical. This is good news that the project is full steam ahead. 

 

 

Site work permit was issued in May. The permit in Nancy's tweet is for the building shell. There are separate permits for each floor's buildout, the parking garage, the amenity deck, etc., which were also issued last week.

 

You can search here if you really want to see the whole list.

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"When it is finished, The Preston will be the tallest apartment building downtown."

 

Tallest apartment building in Houston... correct?

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24 minutes ago, HtownWxBoy said:

"When it is finished, The Preston will be the tallest apartment building downtown."

 

Tallest apartment building in Houston... correct?

I think that goes to The District when it tops out.

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Posted (edited)

You are correct TheSirDingle. If The District construction goes according to plan, The Preston will hold the title for a short period of time before it is overtaken by The District at 82 feet greater. The Preston will be the tallest downtown but not in the city. Glory is sometimes short lived.

Edited by Twinsanity02
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55 minutes ago, TheSirDingle said:

I think that goes to The District when it tops out.

What is The District? I can't find anything about it.

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Just now, MidCenturyMoldy said:

What is The District? I can't find anything about it.

 

Was about to ask the same thing.  How did I miss this?

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16 minutes ago, HtownWxBoy said:

 

Was about to ask the same thing.  How did I miss this?

 

17 minutes ago, MidCenturyMoldy said:

What is The District? I can't find anything about it.

It's going to be the towers in this project, I think the newest name is Laneways but it used to be called The District.

 

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On 9/30/2019 at 8:27 AM, brijonmang said:

I'm not having any luck viewing it... it's keeping me at a login page.  Do you need an account to view them now?

 

Darn I can no longer find the web-page where I came across the webcam link, it was working there.

 

Edit: https://cressetdiversifiedqoz.com/#investments

 

The webcam was quickly switched to private. :(

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38 minutes ago, TheSirDingle said:

 

the newest name is Laneways but it used to be called The District.   

 

OK. I suspected that that might be the case.

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I'll be curious what type of tenant this attracts now that there are a few thousand residents with disposable income within walking distance.  I wouldn't be surprised if a more high end clothing store set up shop and/or athletic clothing store.

 

I mentioned it a few years back, but I still believe this general area will see more of the desired retail before the area along Dallas Street. In the long term Dallas Street may make more sense, but this area is where the momentum and higher income wants to live/spend time.

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18 minutes ago, CREguy13 said:

I'll be curious what type of tenant this attracts now that there are a few thousand residents with disposable income within walking distance.  I wouldn't be surprised if a more high end clothing store set up shop and/or athletic clothing store.

 

I mentioned it a few years back, but I still believe this general area will see more of the desired retail before the area along Dallas Street. In the long term Dallas Street may make more sense, but this area is where the momentum and higher income wants to live/spend time.

 

I agree with you. Sometimes an area just needs time for the surrounding area to grow. Market square area has the right mix of people, projects, income, history, and nature.

 

Same thing along Washington Avenue near downtown... Not the 'happening side' but the East side of Washington will benefit from these downtown developments, as well as 1st and 6th ward becoming extremely desirable places to live. Dallas St needs the growth to spill over near them, and it can become THE place to go for shopping downtown.

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The drawings look great, and it really shows just how much space is going to be available for lease for retail/food. Seems like a good amount of space.

 

Its just funny how these developers are seemingly taking advantage of the clientele that frequent the arts district, when alot of HAIF'ers might have thought it was obvious. With the Jones plaza reno, you'll have two greener spaces where they used to be none back in the early 2000's, and an incredible amount of food options with the newly opened food halls. If you're someone moving to Houston with a good amount of disposable income and a preference for urban living, this development and some of the others around it would probably be near the top of the list. You have the Met nearby for exercise, the parks/green spaces, the food, and new HEB that opens tomorrow on Washington. You could...actually live in, and enjoy, that area without having to travel too far for day-to-day needs, which is something I don''t think I could have said in 2005. 

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28 minutes ago, X.R. said:

The drawings look great, and it really shows just how much space is going to be available for lease for retail/food. Seems like a good amount of space.

 

Its just funny how these developers are seemingly taking advantage of the clientele that frequent the arts district, when alot of HAIF'ers might have thought it was obvious. With the Jones plaza reno, you'll have two greener spaces where they used to be none back in the early 2000's, and an incredible amount of food options with the newly opened food halls. If you're someone moving to Houston with a good amount of disposable income and a preference for urban living, this development and some of the others around it would probably be near the top of the list. You have the Met nearby for exercise, the parks/green spaces, the food, and new HEB that opens tomorrow on Washington. You could...actually live in, and enjoy, that area without having to travel too far for day-to-day needs, which is something I don''t think I could have said in 2005. 

 

Shhhhhhh! Don't say this too loud. I think I can hear my rent going up!  :) Kidding aside, all of this development near Market Square Park and the surrounding is great! This is also a stone's throw from POST HTX, and the whatever edible things end up in the Lyric Center garage retail space. 

Edited by jermh
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