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Discovery West: Mixed-Use Development Downtown By Skanska


Moore713

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19 hours ago, cspwal said:

After playing Sim City so much, I thought you were proposing light industrial zones

You would have to download NAM to get Lamar's curve though. Oh the glory days of putting grid patterns everywhere.

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3 minutes ago, Triton said:

You would have to download NAM to get Lamar's curve though. Oh the glory days of putting grid patterns everywhere.

 

Cities Skylines has curved roads and in general no grid that has to be snapped to, but the buildings themselves are still rectangles

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2 minutes ago, cspwal said:

 

 

Cities Skylines has curved roads and in general no grid that has to be snapped to, but the buildings themselves are still rectangles

Yup. I've still been playing that ever since it came out in 2014 and have had to seriously upgrade my system for it (RAM and CPU).

 

Anyway, I actually doubt HEB is going to be coming here. Would be odd for them to leave out grocer in their release unless they planned to include one in their development. But hey, here's to hoping we get a HEB in downtown! When I first moved to this area (north of downtown), there were zero HEBs in my area. Now I have 2 and would be great to have a third in downtown... would probably be my go-to.

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24 minutes ago, Triton said:

Yup. I've still been playing that ever since it came out in 2014 and have had to seriously upgrade my system for it (RAM and CPU).

 

Anyway, I actually doubt HEB is going to be coming here. Would be odd for them to leave out grocer in their release unless they planned to include one in their development. But hey, here's to hoping we get a HEB in downtown! When I first moved to this area (north of downtown), there were zero HEBs in my area. Now I have 2 and would be great to have a third in downtown... would probably be my go-to.

 

I would be very surprised if they have a concrete development plan at this point. This is the kind of thing that will likely be built out in phases as determined by market demand at each stage of the buildout. Think of when Midway first purchased the KBR site, and it took a few years for East River to come together. Or what Caydon is doing with their land in Midtown. They're probably not sure yet if they want a grocer (vs. a Target or something else), let alone whether they can arrive at terms with one.

 

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I think you're right. I think they were able to make a deal on property that has great potential and they just wanted to secure it until they come up with a plan.

In that location they could definitely do a great mixed use development. With so many people either living in the area or just visiting for games conventions the park or just hanging out there are so many unsupported needs in the area. It will definitely be something to keep our ears to the ground for. 

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My initial HEB comment was more in jest than anything. It's plausible for sure, but as everyone says, there's tons more to do before something like that would get settled. HEB is a bit of a presumed evidence of a "permanent thriving neighborhood", or at least wishfully so.  

 

Hope it all works out. 

Edited by Nate99
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1 hour ago, H-Town Man said:

 

I would be very surprised if they have a concrete development plan at this point. This is the kind of thing that will likely be built out in phases as determined by market demand at each stage of the buildout. Think of when Midway first purchased the KBR site, and it took a few years for East River to come together. Or what Caydon is doing with their land in Midtown. They're probably not sure yet if they want a grocer (vs. a Target or something else), let alone whether they can arrive at terms with one.

 

Idk they moved pretty damn fast after tearing down Houston Club

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Anybody else have the feeling the first four land parcels is just a start? I feel like they're trying to develop a larger part of Downtown than that, maybe even all the parking lots that side of the Toyota center. IMO you just don't buy an empty lot without buying the whole thing, especially for a development this size. I'm thinking they're going to acquire even more land, and post details about the development in the coming months. Hopefully this ramps up fast, because this side of Downtown is in need of a gigantic development like this. 

 

Green = What they currently own 

Blue = What they're trying to get 

 

Thoughts.thumb.jpg.037a088f3abb7db411281d32ee4d83da.jpg

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8 hours ago, TheSirDingle said:

Anybody else have the feeling the first four land parcels is just a start? I feel like they're trying to develop a larger part of Downtown than that, maybe even all the parking lots that side of the Toyota center. IMO you just don't buy an empty lot without buying the whole thing, especially for a development this size. I'm thinking they're going to acquire even more land, and post details about the development in the coming months. Hopefully this ramps up fast, because this side of Downtown is in need of a gigantic development like this. 

 

Green = What they currently own 

Blue = What they're trying to get 

 

Thoughts.thumb.jpg.037a088f3abb7db411281d32ee4d83da.jpg

Will the Taiwanese Oil company sell?  As parking lots disappear their returns go up.

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On 10/18/2019 at 2:03 PM, j_cuevas713 said:

Idk they moved pretty damn fast after tearing down Houston Club

 

They had already determined what they wanted before they tore it down.

 

On 10/18/2019 at 5:06 PM, X.R. said:

I don't think you would pay the premium they did just to sit on land. Inherent land value IS growing in that area, obviously, but its not like an Austin-type growth that could make a buy and stash a valid approach for this type of firm. Skanska is known for multi-unit developments/hubs, which fits the profile of multiple pieces of land downtown. I would guess the value proposition was high here, downtown Houston still isn't what you'd expect from the 4th largest city in the country, they get in early for what is probably going to be rapid expansion in the coming years. These type of deals usually come after intense vetting, and there are probably proposals on the table already for the usage. 

 

No one said they were just going to sit on land. I said this would likely be developed a piece at a time. Multi-phase, like most large developments.

 

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18 hours ago, TheSirDingle said:

Green = What they currently own 

Blue = What they're trying to get 

 

Thoughts.thumb.jpg.037a088f3abb7db411281d32ee4d83da.jpg

 

STCL won't sell. That lot is a sticky subject among faculty and administration. When I was at school there, I had a lot of discussions with folks about that lot.

 

EVERYONE it seems wants to do something with it, but no one will. When the city approached them about selling the tiny lot that they have on the block that was home to the Goodyear store, and will now be a park, the school didn't budge. There were whispers that some folks in the administration tried to get the school to sell the small lot, and use the money to fund a garage on the big lot. Didn't happen. Apparently when that big lot was used as part of the super bowl festivities, it was one of the first times in ages that it was used for something other than parking.

 

Long story short, I never got to the bottom of what the hell exactly is the problem with that lot (a slow administration, "waiting for the right price," or an overly restrictive trust owning that lot) but I can promise you, that lot will never be sold.

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7 hours ago, JBTX said:

 

STCL won't sell. That lot is a sticky subject among faculty and administration. When I was at school there, I had a lot of discussions with folks about that lot.

 

EVERYONE it seems wants to do something with it, but no one will. When the city approached them about selling the tiny lot that they have on the block that was home to the Goodyear store, and will now be a park, the school didn't budge. There were whispers that some folks in the administration tried to get the school to sell the small lot, and use the money to fund a garage on the big lot. Didn't happen. Apparently when that big lot was used as part of the super bowl festivities, it was one of the first times in ages that it was used for something other than parking.

 

Long story short, I never got to the bottom of what the hell exactly is the problem with that lot (a slow administration, "waiting for the right price," or an overly restrictive trust owning that lot) but I can promise you, that lot will never be sold.

Honestly the college would be stupid not to sell at the price Skanska is buying at. Now that you say that I could still see them getting the lot in front of the Toyota center, the power station, and the rest of block 276. But we'll have to see what happens, if the lot isn't sold now it's eventually gonna be sold later. Especially with the rising land prices in Downtown, it's just a matter of when. 

 

Also it seems like that Taiwanese oil company is starting to budge on some lots. 

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https://www.bizjournals.com/houston/news/2019/10/18/bank-of-america-tower-developer-buys-downtown.html?iana=hpmvp_hstn_news_headline 

 

Skanska paid $55 million in total for the properties, which were sold by a private citizen, according to an Oct. 17 press release. The parcels total around 3.5 acres, and Skanska plans to develop a mix of office, multifamily and retail on the land.

 

The press release does not identify where exactly the parcels are located, but a spokesperson for Skanska confirmed that one of the parcels is a full city block bordered by Dallas, Lamar, LaBranch and Austin streets, with another just to the south and a third just to the east, wrapping around the Embassy Suites by Hilton Houston Downtown. There's also a small parcel in another adjacent block.

 

Those four properties are all parking lots owned by MIPS Investments LLC and MIPS Parking LLC, according to the Harris County Appraisal District. Combined, they have an appraised value of nearly $30.06 million and span about 3.48 acres, according to HCAD.

 

Skanska plans to begin the master planning process for the sites by the end of the year, which will help determine a development timeline and more details about the project, a spokesperson confirmed.

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51 minutes ago, tangledwoods said:

Could someone share some other major Skanska projects? 

 

Most of those projects were Skanska's construction arm, not development (Skanska was a construction contractor, not the owner or developer).

 

Here are links to projects on which they were/are the developer:

 

https://www.usa.skanska.com/what-we-deliver/invest--develop/commercial-development/office_mixed-use/

 

https://www.usa.skanska.com/what-we-deliver/invest--develop/commercial-development/multi-family/

Edited by Houston19514
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14 hours ago, TheSirDingle said:

 

Honestly the college would be stupid not to sell at the price Skanska is buying at. Now that you say that I could still see them getting the lot in front of the Toyota center, the power station, and the rest of block 276. But we'll have to see what happens, if the lot isn't sold now it's eventually gonna be sold later. Especially with the rising land prices in Downtown, it's just a matter of when. 

 

Also it seems like that Taiwanese oil company is starting to budge on some lots. 

 

Do we want Skanska to acquire all the land in this area? From what I can tell, the high-rises they've built in the U.S., particularly in Houston, have been on the conservative side. Having a large area developed by a single developer generally doesn't result in the most interesting combination of buildings, although it might offer certain continuities (like a line of retail shops) that are beneficial.

 

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They will build what city ordinance requires. Minimum setbacks and parking create the cookie cutter pad sites you referenced (and of course the infamous W Alabama & Shepherd atrocity). 

Different development requirements might produce something more like this. CVS is absolutely conservative and less than creative, but I mostly blame the city.

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Based on that Business Insider article, seems like Skanska is good to go with what they have. I'm sure they would like to secure some more land if it fell into their laps, but the tone didn't seem to reflect more stuff coming their way.

 

I'd rather STCL just build a giant ugly parking garage than have all those parking lots that don't do anything (are they available for parking during Rockets games?). I go to their library sometimes, and those lots are always mostly empty. At least put a tree or two or something in those lots. You'd think they'd want to do something nice for their students with those lots. 

 

I do agree with @H-Town Man. I am a little wary of one developer doing all of the development in that area, especially land that...could shape the weekend Houstonian's experience for years to come. I am happy they are upping the ante and putting pressure on everyone else. Rando thought: Astros announce mixed use around MMP, which makes sense because other baseball teams do it. Tilman buys the Rox, and all of sudden some of the land around the stadium that no one really thought about developing gets sold to a developer who wants to start developing pretty soon? Hmmmmmm

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2 hours ago, Houston19514 said:

 

Most of those projects were Skanska's construction arm, not development (Skanska was a construction contractor, not the owner or developer).

 

Here are links to projects on which they were/are the developer:

 

https://www.usa.skanska.com/what-we-deliver/invest--develop/commercial-development/office_mixed-use/

 

https://www.usa.skanska.com/what-we-deliver/invest--develop/commercial-development/multi-family/

 

This one on Post Oak for example:

 

3009-post-oak

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5 hours ago, DrLan34 said:

https://www.bizjournals.com/houston/news/2019/10/18/bank-of-america-tower-developer-buys-downtown.html?iana=hpmvp_hstn_news_headline 

 

Skanska paid $55 million in total for the properties, which were sold by a private citizen, according to an Oct. 17 press release. The parcels total around 3.5 acres, and Skanska plans to develop a mix of office, multifamily and retail on the land.

 

The press release does not identify where exactly the parcels are located, but a spokesperson for Skanska confirmed that one of the parcels is a full city block bordered by Dallas, Lamar, LaBranch and Austin streets, with another just to the south and a third just to the east, wrapping around the Embassy Suites by Hilton Houston Downtown. There's also a small parcel in another adjacent block.

 

Those four properties are all parking lots owned by MIPS Investments LLC and MIPS Parking LLC, according to the Harris County Appraisal District. Combined, they have an appraised value of nearly $30.06 million and span about 3.48 acres, according to HCAD.

 

Skanska plans to begin the master planning process for the sites by the end of the year, which will help determine a development timeline and more details about the project, a spokesperson confirmed.

 

 

^The phrase "wrapping around the Embassy Suites…" is a key thing to acknowledge.  With that verbiage, suggests the electrical yard will be re-developed/re-incorporated elsewhere, or maybe somehow on the top of new construction?   Regardless, yes:  that's such a prime block to be wasted on ground-level utility.

 


I still wish downtown would receive some sort of an indoor, ticketed attraction, or series of attractions, like our own Nickelodeon Universe (a-la the new one opening up in NY at the Meadowlands - https://www.americandream.com ), or at a smaller scale: a Legoland Discovery Center, Crayola Experience, and/or even a KidZania ( https://kidzania.com/en - the first of which in the States is of course going to the Dallas area, instead).

How neat would a conditioned, indoor park - something like Galaxy Station, but Gulf Coast Texas-themed - be? - https://berjayatimessquarethemeparkkl.com/galaxy-station/ 

 

 

Proper attraction(s) aside… at minimum, I hope a City Target concept gets developed somewhere soon 'round there.

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