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4411 San Felipe: 8 Story Office Building

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New sign up for the lot behind Arabella at the SE corner of San Felipe and Post Oak Park Dr (aka the Target parking lot access road).

 

IMG_3876.thumb.jpg.7ded2209c91bac0e1d4effeeae5e344c.jpg

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I saw that today as well. It's not the actual Target parking lot but the space behind Arabella and next to the Skyhouse parking garage. I was worried that plot would be forgotten and happy to see it will be filled.

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I think at one point there was supposed to be a high-end restaurant in this building, that would also offer room service to the Arabella. Not sure if that's (still) the case.

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Noticed this today.I always suspected they’d develop this plot and pointed out as much when people would grouse over the Arabella’s parking podium. 

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I doubt this will be built anytime soon. As far as I know, DC partners almost exclusively use EB-5 financing for equity to build their projects. They still need financing for several other projects they have listed on their website. 

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I’m confused.  DC Partners lists Arabella & Marlowe as their developments.  So does Randall Davis.  What’s the relationship?  And if they work hand-in-hand, should we worry about DC’s The Allen???

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The D in DC is Davis. It’s a collaboration with his business partner Robert Contranaous (sp?). On a related note, I know some people don’t like his designs but are there quality issues too? I’m shocked at how low some of his resale’s are like the Astoria which has high end finishes and units in the 450 per sq ft range which seems really low compared to other recent construction. His builder, GT Leech, is same one who built the ultra expensive The River Oaks. 

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3 hours ago, db650 said:

The D in DC is Davis. It’s a collaboration with his business partner Robert Contranaous (sp?). On a related note, I know some people don’t like his designs but are there quality issues too? I’m shocked at how low some of his resale’s are like the Astoria which has high end finishes and units in the 450 per sq ft range which seems really low compared to other recent construction. His builder, GT Leech, is same one who built the ultra expensive The River Oaks. 

 

Roberto Contreras.

http://dcpartnersusa.com/our-team/

 

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4Q 2019 completion

 

http://dcpartnersusa.com/properties/4411-san-felipe/

 

Quote

Situated on San Felipe with easy access to I-610, minutes from the Galleria and Uptown Park and walking distance to River Oaks District, 4411 San Felipe offers the ideal  “park and stay” work environment. The property features three levels of Class A Office Space above high end retail.

The mixed-use mid-rise will be the future headquarters of DC Partners. Eight combined levels in the heart of Houston offers beautiful terrace space for office tenants and an easy commute from anywhere in Houston or the surrounding suburbs.

 

4411.png

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I love how they are using the old "all glass" rendering of Arabella as the backdrop in this.  Hopefully this is a quality project.

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4 hours ago, lockmat said:

Isn't it surprising this isn't a highrise?

 

Not really. Only retail was proposed originally,  demand for office isn't great at the moment and Randy has always owned the site - he wouldn't want to upset his new condo buyers at Arabella. ;)

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Say what you want about him, but he kept his word not to build past the residential floors of Arabella. 

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21 hours ago, lockmat said:

Isn't it surprising this isn't a highrise?

 

not even a little surprising... this isn't a very big site to begin with, the galleria market doesn't call for nor need any sort of high rise project (besides the fact that this is going to be owner occupied), and the last thing the developer  wants to do is a build a highrise that immediately blocks the best views of the condo tower they literally just built.

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20 hours ago, Urbannizer said:

 

Not really. Only retail was proposed originally,  demand for office isn't great at the moment and Randy has always owned the site - he wouldn't want to upset his new condo buyers at Arabella. ;)

 

I didn't know Randall Davis owned this site. Makes perfect sense now.

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So i didn't want to start a new topic for this- but the Target on San Felipe has begun remodeling the interior of the store to fit its new store design. For example: https://people.com/home/target-new-redesigned-stores-are-open-photos/

 

I presume an exterior face lift is also in the works. 

 

Sorry to poo poo on everyone's dream of Target being redeveloped into something else anytime soon. 

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4 hours ago, LBC2HTX said:

They’re hauling away the Arabella sales trailer today. 

 

mh6PPIo.jpg

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On 1/17/2019 at 8:23 AM, LBC2HTX said:

So i didn't want to start a new topic for this- but the Target on San Felipe has begun remodeling the interior of the store to fit its new store design. For example: https://people.com/home/target-new-redesigned-stores-are-open-photos/

 

I presume an exterior face lift is also in the works. 

 

Sorry to poo poo on everyone's dream of Target being redeveloped into something else anytime soon. 

 

I couldn't be happier!!!!!!!!!!!!!!!!!!! I love my Uptown Target! :) 

 

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So is this going to start now. Can they finish this in less than 12 months?

Didn't I see where they were quoting 4Q/2019 completion date.

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Just went shopping at that target a couple days ago, looks like they've completed several noticeable improvements inside.

 

They've removed the logo outside and have banners hanging on the exterior saying they are remodeling, so it looks like it will be a thorough renovation outside and inside.

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2 hours ago, bobruss said:

So is this going to start now. Can they finish this in less than 12 months?

Didn't I see where they were quoting 4Q/2019 completion date.

 

Certainly looks like it. Didn’t think they were starting this soon but if that’s really what’s happening that’s awesome news.

DB96C4D3-5E53-4685-8920-2CDEA35E38F9.jpeg

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What's prompting the question on Skyhouse? The fact that there were 3 built here (whereas every other city they've built in only has one) would indicate they did well. 

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4 hours ago, Timoric said:

Did SkyHouses do poorly in Houston? They did two in Downtown and this one and don't think they did any more, you don't hear much about who the losers were in the oil downturn, I can't think of any real estate or bank failures this time like First City and Texas Commerce for example

 

Putting three buildings in any city, and in a relatively short period of time is pretty successful. Thats hard for anyone to do, but if then compared to what others are doing in this town and it pales in comparison. Not to mention that the portfolio of development kinda sucks. Yeah, fantastic, you built 3 buildings, but they all look the same. Not exactly a great look honestly. They all look the same in every other city that has one. Hanover and Hines are just doing more and have a better wide ranging portfolio.

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Re: Target's remodel

 

Photo from today

 

m3wo0yY.jpg

Edited by ekdrm2d1
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On 1/17/2019 at 8:23 AM, LBC2HTX said:

So i didn't want to start a new topic for this- but the Target on San Felipe has begun remodeling the interior of the store to fit its new store design. For example: https://people.com/home/target-new-redesigned-stores-are-open-photos/

 

I presume an exterior face lift is also in the works. 

 

Sorry to poo poo on everyone's dream of Target being redeveloped into something else anytime soon. 

I wonder if this will be a more pedestrian friendly model for the area. 

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Permit for foundation / sitework for this were filed yesterday. Looks like this one lost a floor too? Permit calls out 7 stories. 

http://www.cohtora.houstontx.gov/ibi_apps/WFServlet.ibfs?IBIF_webapp=/ibi_apps&IBIC_server=EDASERVE&IBIWF_msgviewer=OFF&IBIAPP_app=soldpermits&IBIF_ex=sold_permit_d&CLICKED_ON=&PN=18035094&PT=13

 

 
Project No: 18035094
Date : 2019/03/26 00:00:00
USE : SITEWORK AND FOUNDATION FOR FUTURE 7 STO
Owner/Occupant : *WESTCREEK VP LLC
Job Address : 4411 1/2 SAN FELIPE ST 77027
Valuation : $ 2,000,000
Permit Type : 13
FCC Group : Non-Residential Alteration
Buyer : *GT LEACH CONSTRUCTORS LLC
Address : 1210 w CLAY ST 77019
Phone : (713) 248-8979
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On 2/4/2019 at 8:14 AM, LBC2HTX said:

What's prompting the question on Skyhouse? The fact that there were 3 built here (whereas every other city they've built in only has one) would indicate they did well. 

 

Dallas has 2, Atlanta has at least 4 (not to mention plenty of other developments, but that's where they're based).

 

Novare has at least 4 residential high-rise developments in Nashville, 3 in Charlotte, and 2 in Austin (including a 44-story building).  They may not be called "Skyhouses" but I'm not sure what that has to do with anything.

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Drove past the site again today, almost no change.

 

On a side note, it looks like they wrapped up the Target renovations and it looked spiffy inside and out:

 

IMG_0748.jpg

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