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Minute Maid Park Mixed-Use Development


Brandon55

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On 8/19/2019 at 6:00 AM, Angostura said:

 

Basically, yes. HCSA built and owns the stadium, and leases it to the Astros, who retain substantially all revenue generated inside, including naming rights and non-baseball events. In return, they pay a few million dollars a year in rent (now $8.1M, with the lease extension). The team also pays for certain stadium improvements.

 

BTW, an annuity purchased with the $178M naming rights fee paid by Coca Cola would more than pay for the team's lease costs over the 28-year term of the naming rights deal.

 

 

 

Except that all the information I can find indicates naming rights were sold for $100 Million, not $178 Million.  And, more important,  I'm pretty sure that MinuteMaid/Coca Cola did not write a check for the full amount; I think it's paid out over the term of the deal.

 

50 minutes ago, H-Town Man said:

 

The buildings were not owned by the city and I am pretty sure were not part of the sale. Just the vacant land around them.

 

 

You are correct that the buildings were not part of this sale.  However, the entity making this purchase (1800 Texas, LLC) already owns the buildings on the block.

Edited by Houston19514
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20 hours ago, Houston19514 said:

 

Except that all the information I can find indicates naming rights were sold for $100 Million, not $178 Million.  And, more important,  I'm pretty sure that MinuteMaid/Coca Cola did not write a check for the full amount; I think it's paid out over the term of the deal.

 

 

From here

 

Quote

Meanwhile, The Coca-Cola Co.’s (NYSE: KO) naming rights for Minute Maid Park expire in 2029, the Houston Business Journal previously reported. That 28-year sponsorship cost the Atlanta-based company $178 million. 

 

 

...though you're probably right about the payment terms.

 

 

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  • 1 month later...
  • 2 months later...
On 8/14/2019 at 8:20 PM, Brandon55 said:

Anybody know anything about this 

Screenshot_20190814-201810_Samsung Internet.jpg


Late to this party but Crane has had Block 161 land since 2016. When the MMP lease was extended in 2018, it was first mentioned as a site for a ballpark village.

 

On 11/4/2017 at 10:40 AM, tigereye said:

 

Reminder that Crane owns 2 buildings on Texas south of Home Plate (probably the bars on block 161. With Nau Center for Heritage dead, could this be the spot? 

 

http://houston.culturemap.com/news/restaurants-bars/03-30-16-astros-owner-gives-the-inside-scoop-on-his-two-new-restaurants-near-minute-maid-park/#slide=0

 

 

 

On 7/9/2018 at 11:34 PM, tigereye said:


 

Buried in the Chronicle’s article is the first mention of a ballpark village in downtown. The reroute is brought up but Crane already owns property on block 161.

 

 

https://www.chron.com/sports/astros/article/Astros-plans-future-improvements-Minute-Maid-Park-13061261.php


Astros may now own the halfway house site currently being bulldozed. 
 

To recap: Stros now have land outside Home Plate and Center Field gates. 

 
On 12/17/2019 at 12:27 PM, ekdrm2d1 said:

A Cherry representative said Minute Maid is the new owner. I’m not sure if that means the Harris County Houston Sports Authority or Crane and the team.

Edited by tigereye
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  • The title was changed to Minute Maid Park Mixed-Use
  • 9 months later...

Home Plate BBQ closed 1/6. They’re auctioning off their equipment. 

Coupled with the train relocation, something might be happening on this project. Crane owns the land and the Astros already extended MMP’s lease. 

Where does the Cohn house end up? 

https://www.click2houston.com/news/local/2021/01/22/restaurant-equipment-from-home-plate-grill-bar-to-be-sold-at-online-auction/?utm_source=facebook&utm_medium=social&utm_campaign=snd&utm_content=kprc2&fbclid=IwAR1ZlhpBKrEmduJPJrG3JGMnLQ4U9csT28TsUVc8vcoQK4uaBLlnbEkICYs

Edited by tigereye
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On 1/24/2021 at 5:43 AM, tigereye said:

Home Plate BBQ closed 1/6. They’re auctioning off their equipment. 

Coupled with the train relocation, something might be happening on this project. Crane owns the land and the Astros already extended MMP’s lease. 

Where does the Cohn house end up? 

https://www.click2houston.com/news/local/2021/01/22/restaurant-equipment-from-home-plate-grill-bar-to-be-sold-at-online-auction/?utm_source=facebook&utm_medium=social&utm_campaign=snd&utm_content=kprc2&fbclid=IwAR1ZlhpBKrEmduJPJrG3JGMnLQ4U9csT28TsUVc8vcoQK4uaBLlnbEkICYs

I cross my fingers these buildings aren’t torn down. 

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10 hours ago, j_cuevas713 said:

I cross my fingers these buildings aren’t torn down. 

There's no way. Astros have to be particularly attuned to optics right now. 

At least, that is what I'm telling myself. 

Also, won't really miss home plate. Stopped going there after I went there before a game and they had a pint special yet were bringing me 12 oz plastic cups. Waitress/Bartender/Manager all had no idea why I thought that was unacceptable. "This is a pint" "No, that's only 12 oz". 

I think I got mad ticked off enough that I submitted a complaint to Texas Weights and Measures but I don't think it went anywhere 😄

Edited by wilcal
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3 hours ago, wilcal said:

There's no way. Astros have to be particularly attuned to optics right now. 

At least, that is what I'm telling myself. 

Also, won't really miss home plate. Stopped going there after I went there before a game and they had a pint special yet were bringing me 12 oz plastic cups. Waitress/Bartender/Manager all had no idea why I thought that was unacceptable. "This is a pint" "No, that's only 12 oz". 

I think I got mad ticked off enough that I submitted a complaint to Texas Weights and Measures but I don't think it went anywhere 😄

My British friends would have told them a pint is 20 ounces...

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1 hour ago, HOUCAJUN said:

I guess the elephant in the room is asking what are they planning to do with this space by moving these. W Hotel construction staging?

Now would be a great time to build it but hotels are among the hardest hit industries during the pandemic, so I kind of doubt that. Hope to be proved wrong though.

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With a completion horizon being what it is, many years, any one building a hotel now will be well within the safety of 'outside the pandemic' and 'post recovery' by it's completion. The vaccines have all hit the mark as far as efficacy is concerned, the most recent federal orders put us at 300 million by fall.  I think they'd be fine to start now and by then the economy will be roaring. I think all this working from a distance slowly fades back too, there's nothing like meeting in person, talking in person, humans are social apes as much as an introvert like myself wants to pretend we could all work from home I seriously doubt it'll stick. People in most fields will make up any excuse necessary to get people grouped back together again.

 

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4 hours ago, wilcal said:

There was a train-themed area in the park render for NHHIP cap park for this approximate section of 59. I wonder if it might end up there some day.

*assuming NHHIP gets done

**assuming we come up with local money for said park space

Why not Union Station? There’s an empty green area north of the CF gate, across heritage park from Union Station. Seems like a perfect spot for an old locomotive... 

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