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Urbannizer

Alexan River Oaks, 3015 Weslayan St - 5-story Mid-rise with Retail

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That was for removing the microwave antenna podium (the dark gray tower on the left side of the roof) from the AT&T building.

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On 3/8/2018 at 7:50 PM, Urbannizer said:

It's interesting to note that the surface lot across from this just went on the market. 

 

http://www.loopnet.com/Listing/SEC-WESLAYAN-W-ALABAMA-Houston-TX/11813599/

 

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A parcel of land owned by Dallas-based AT&T (NYSE: T) in River Oaks has hit the market – again.

The 4.6-acre parcel at the intersection of West Alabama Street and Weslayan Street, which is currently being used as a surface parking lot for AT&T employees, is on the market, according to documents obtained by the Houston Business Journal. Cushman & Wakefield's Jim Foreman, who's marketing the land alongside David Chuoke, said AT&T listed the land about five days ago.

 

"They want to monetize the site," Foreman said.

AT&T is currently being used as overflow parking for its 12-story property at 3303 Weslayan, which is formerly known as the Southwestern Bell Building. AT&T has already re-platted the land for commercial development, Foreman said.

This isn't AT&T's first go-around at monetizing that site, though. Foreman marketed the land for AT&T back in 2015, too.

"The market wasn't right for it two years ago," he said. "We're in a much better market today with good fundamentals."

Though the land's only been listed for less than a week, Foreman said interest is strong among different levels of investors. Cushman & Wakefield isn't listing the land with an asking price – they're going to let the market determine the value of the land, Foreman said – and offers are encouraged to be submitted by mid-April.

The land sits across the street from two notable developments. To the parcel's north side is PMRG's 2929 Weslayan: the city's tallest residential tower outside of downtown. The high rise delivered in 2016, stands at 40 stories and won an HBJ 2017 Landmark Award.

"I'd anticipate they'd hopefully have an interest," Foreman said, when asked whether PMRG has plans to submit an offer.

The office building at 3000 Weslayan sits at the parcel's east side. The Class B building was recently acquired by Houston-based Morningside Capital, which eventually plans to redevelop the building into some sort of residential development. When asked what kind of development that land would support, Morningside's co-founder, Chris Calato, suggested more luxury residential for the intersection.

"You don’t have to have a great imagination to see what could go there. You could look right across the street," he said, referring to PMRG's high-rise project.

https://www.bizjournals.com/houston/news/2018/03/15/exclusive-storied-at-t-parcel-near-river-oaks-hits.html

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9 hours ago, Urbannizer said:

6-story midrise for The Heights, exact location unknown.

 

https://www.edi-international.com/alexan-lynn-park

 

This is going in the corner of W. Alabama and Weslyan. Not the Heights...

 

Lynn Park is a neighborhood off W Alabama and the tracks. If you look closely, you can see the telling signs of buildings at that intersection.

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3 hours ago, Avossos said:

 

This is going in the corner of W. Alabama and Weslyan. Not the Heights...

 

Lynn Park is a neighborhood off W Alabama and the tracks. If you look closely, you can see the telling signs of buildings at that intersection.

 

I'm shocked that developers can still pencil out mid-rise buildings on premium land pushing $200psf. 

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Already pulled, though I got a good look at it earlier (and it's still in the Google cache).

 

The renderings seemed to make it pretty clear that it's the lot just north of AT&T.  The size is right, too, as I'd guess that lot to be just under 5 acres.

 

Perhaps the fact they are planning wood construction rather than steel/concrete above the retail implies they don't expect this to last long, and this would be replaced with something using the space better in 30 years or so.

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http://realtynewsreport.com/2019/01/08/crow-buys-greenway-plaza-area-building-for-new-residential-project/

 

Quote

 


HOUSTON – (Realty News Report) – The old Southwestern Bell building on Weslayan near West Alabama has been sold for a multifamily development by Trammell Crow Residential.

 

The building, a 400,000-SF structure, was built in the early 1970s. It was built on a 9-acre tract connected to Kenneth Schnitzer’s famous Greenway Plaza assemblage.

 

Trammell Crow Residential is expected to brand the project with its “Alexan” moniker, naming it “Alexan Lynn Park” after the nearby subdivision. The property is located in the 3300 block of Weslayan.

 

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Site work has been going on for a few weeks.  Probably COH related? This is in between the surface lot and the AT&T building/lot.

 

T74Uhv9.jpg

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While running some errands before work, I saw that all the fences had been torn down. Its weird to see that whole parking lot now accessible to walk all over. If any of yall are around there I would go take a walk. Won't ever be like that again.

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12 hours ago, ekdrm2d1 said:

h3HI2Fb.jpg

 

I think thats COH redoing a bus stop. Thats what it appeared to me while driving by this weekend.

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3 hours ago, Urbannizer said:

Trees coming down now.

 

As I said in another thread, Swamplot needs to do a little more research here or online. HBJ and Realty News Report have articles on Alexan Lynn Park yet Swamplot doesn’t mention the project.

 

http://swamplot.com/atts-weslayan-st-parking-just-lost-tree-coverage/2019-02-28/

 

att-02.jpg

 

Not that Swamplot isn't a good site, but their bread an butter is not in-depth research. Swamplot is all about what is going on "right now" with a dash of voyeurism; What is done in the now that you can drive by and see for yourself. This isn't to say that they haven't done some top notch stuff nor uncovered some good stories, but thats just not the heart of what they do. I go to Swamplot to check out the latest demo's and they do a great job at being an aggregate news site of other latest news. If I want in-depth research, thorough discussion and documentation of a site, then I come here.

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I was taking photos today.  A contractor hollered at me saying he would be glad to go into the site and snap pictures for me.  Hats off to him!

 

A passerby also told me this development will have GFR.  Alexan's typically don't have GFR?

 

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SqiwYsA.jpg

 

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On 4/19/2019 at 6:16 PM, ekdrm2d1 said:

Perfect time to get 2727 Weslayan in the picture.  The crew was off today.

 

Hw4phJy.jpg

nice shot.  too bad this construction site is not another high rise residential tower.

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https://www.bizjournals.com/houston/news/2019/05/16/new-permits-show-apartments-near-river-oaks.html

 

Permits pulled. No new info but the following description confirms previous posts:

Quote

The filing from the state’s licensing and regulation department describes Alexan Lynn Park as a four-story, 383-unit building with a parking garage, retail space, lobby and amenities. It lists Houston-based EDI International as the design firm.

 

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Got my Costco gas early before the crowd hits. Cheapest inside the west loop.

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Rarely head west on my bike but today I decided to "Go West Young Man"

 

2Pv2Eex.jpg

 

 

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My shots from today.  Looks to be a French Potain crane.

 

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daCCyOs.jpg

 

T1tPz5k.jpg

 

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