United States National Bank At 2201 Market St.

[CrockpotandGravel]

This thread was originally created May 7, 2019. I'm reposting this because this post and other content from me are no longer available on the forum. The original thread is archived here.



2201 Market Street in Galveston. This is the site of  the United States National Bank.













 

[CrockpotandGravel]

Originally posted May 7, 2019  in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  Archive links to original thread here.

 

 

 

 

From a 2015 Loopnet listing (archive link) :

 

Millichap and have been exclusively retained by the owner to offer for sale the United States National Bank Building, an irreplaceable Galveston Central Business District redevelopment opportunity, currently operating as a mixed-use property. The asset contains approximately 89,893 gross square feet of office space and retail space, located in the heart of the Galveston Central Business District and walking distance from the historic retail shops on Post Office and The Strand. The property is situated within Galveston's downtown financial hub, located next to Bank of America, Merrill Lynch and Wells Fargo Wealth Management, while being home to Frost Bank, University of Texas Medical Branch, and Kempner Capital Management. Featuring a broad tenant base and is a microcosm of the diverse businesses that call the Galveston submarket home.
 

The largest tenants represent a variety of industries including medical care, banking, non-profit, private wealth management and real estate.The property is caddy corner from the largest structured parking garage on the island, holding approximately 600 parking spaces for a parking ratio of just over eight spaces per thousand square feet of total rentable area, a parking ratio well above its peer group. Due to the size and location of the site, combined with Galveston' s zoning and the dynamic Galveston Central Business District market, this property is ideal for residential or hospitality redevelopment uses.The United States National Bank Building offers investors a true pride of ownership asset with this 12 story granite faced, Italian renaissance style building, while providing strong cash flow and being strategically located just outside the fourth largest city in the United States.Subject property was featured in a music video by Hip Hop artist, DMX.


 

[CrockpotandGravel]

Originally posted May 7, 2019  in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  An archive link to original thread is here.

 

 

 

 

More on The United States National Bank in Galveston at  2201 Market St. This comes from Galveston's newspaper The Daily News this week (behind pay-wall):


 

Major makeover: In other island luxury apartment news, crews are expected to begin demolition work in the 12-story United States National Bank Building, 2201 Market St. downtown, as part of a $14.9 million renovation that will yield 64 luxury apartments.
 

Along with high-end apartments, developer Hadar Goldman plans to add a rooftop event center with a bar and pool, along with a street-level spa, wellness center and yoga studio. Previous street-level tenants already have moved.
 

The building would offer all the modern amenities, while respecting Galveston history and tradition, Goldman said. Frost Bank will continue to lease the second and third floors of the building, while Kempner Capital Management will remain on the 12th floor, Goldman said. Principals of Kempner Capital Management have a long history with the building, inspiring Goldman to allow the firm a lease for as long as it wants one, he said.
 

There’s a historic significance to the Kempner Capital Management continuing as a tenant, Goldman said.
 

The Kempner family originally owned the controlling interest in United States National Bank, an outgrowth of a savings bank in which wholesale grocer, cotton broker and real-estate investor H. Kempner acquired an interest in 1885, according to the Galveston Architecture Guidebook. Kempner’s sons bought a controlling interest in the bank in 1902, and in 1923, one of them, Daniel W. Kempner, directed planning and construction of the modern office building, according to the guidebook.
 

“The height of the U.S. National Bank Building signaled to W.L. Moody Jr., the Kempner brothers’ business rival, their determination not to take second place to his 11-story American National Insurance Building at 21st and Market,” according to the guidebook. The Moodys in the 1970s went on to build a 23-floor skyscraper downtown.
 

Alfred C. Bossom with Sanguinet, Staats & Hedrick was the architect of the building, completed in 1925 and known for its dark granite base, smooth limestone facing, tall arched windows separated by Corinthian pilasters and a clock face above the pediment-capped corner, according to the guidebook. The building was rehabilitated by island architect David Watson in 1990.
 

Renovation of the building has been years in the making and Goldman has amassed what he calls a “superteam,” which includes architect Watson; general contractor Larry Brown Construction; and Adam Halifi, who will lead the demolition, Goldman said. In a note of irony, Moody Bank is financing renovation of the building, which has long housed Frost Bank, Goldman said.
 

Crews will be sensitive in demolition to preserve the building’s history, said Goldman, who acquired the building for cash nearly seven years ago.

“I’ve been working with this so long, it’s worth it,” Goldman said.
 

On Thursday, a $200,000 temporary construction elevator will arrive at the site to take everything up and down, said Goldman, who has holdings in Tel Aviv, the United Kingdom and Chicago.
 

The building will be equipped with all the modern technology, Goldman said.


https://www.galvnews.com/business/buzz/article_2c054e7d-75af-5927-9dc1-b6a7f7850940.html

 

 

 

 

 

[CrockpotandGravel]

Originally posted May 7, 2019  in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  An archive link to original thread is here.

 

 

 

The proposed plan for the United States National Bank mixed-use redevelopment in Galveston, 2201 Market St.

From the website:

https://www.federalbankbuilding.com
(archive link)

 

[CrockpotandGravel]

From  the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  An archive link to original thread is here.

 

 

Originally posted by Reefmonkey, May 7, 2019 in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.


This is exciting! No expected completion date?


 

[CrockpotandGravel]

From  the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  An archive link to original thread is here.

 

 

Originally posted by Crockpotandgravel, May 9, 2019 in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.

 

  On 5/8/2019 at 9:15 AM, Reefmonkey said:

This is exciting! No expected completion date?

I only glanced over the website, so I didn't take a deep dive to find an estimated completion date.

 

[CrockpotandGravel]

From  the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.  It may be helpful to see what was previously discussed or shared before since the original thread and other content from me were removed.  An archive link to original thread is here.

 

 

Originally posted by Crockpotandgravel, June 10, 2019 in the previous thread for United States National Bank | 2201 Market St | Galveston | Mixed Use.

 

Update on the United States National Bank in Galveston at  2201 Market St.

From Galveston's newspaper The Daily News this week (behind pay-wall):

 

Did anyone else notice the plywood crews last week put atop the United States National Bank Building in the island’s downtown? Crews installed the temporary mockup to allow state and federal organizations to determine whether a glass wall would diminish the visual effect of the historic building, 2201 Market St., island architect David Watson said.
 

A glass wall is planned to surround a rooftop event center at the 12-story building, where developer Hadar Goldman plans 64 luxury apartments, street-level retail and a wellness center.
 

The glass wall is meant to block the wind at the rooftop event center, but must be approved by the National Park Service and Texas Historical Commission, organizations that regulate preservation practices.
 

To give the service and the commission perspective of the glass wall’s visual effect, Watson and team last week planned to video record the plywood mockup from the corner of The Strand and 22nd and from 20th and Market streets.
 

They will present the video to the park service and historical commission in a conference call and wait for feedback. If the agencies don’t approve, then Goldman, who has said he’s committed to honoring the building’s history, will regroup and adjust plans for the building’s rooftop, Watson said.
 

Alfred C. Bossom with Sanguinet, Staats & Hedrick was the architect of the building, completed in 1925 and known for its dark granite base, smooth limestone facing, tall arched windows separated by Corinthian pilasters and a clock face above the pediment-capped corner. Watson rehabilitated the building in 1990.
 

Frost Bank will continue to lease the second and third floors of the building, while Kempner Capital Management will remain on the 12th floor, Goldman said.

Meanwhile, the exterior construction elevator arrived last week. That elevator also is temporary, Watson emphasized.


https://www.galvnews.com/business/buzz/article_99992bb3-35ac-5cff-92c0-c0fd5e3aadfe.html

 

 

 

A temporary plywood mockup is visible on the roof of the 12-story United States National Bank Building, 2201 Market St., in Galveston. The mockup will allow state and federal officials to determine whether the glass wall of an event center would diminish the visual effect of the historic building.




Galveston architect David Watson, left, and Hadar Goldman, a developer, talk about the rooftop event center planned for the rooftop of the 12-story United States National Bank Building, 2201 Market St., in Galveston on Wednesday, May 22, 2019. Goldman is also planning luxury apartments, retail and a wellness center for the building.

[Urbannizer]

United States National Bank by Darius Fontenette, on Flickr

 

United States National Bank by Darius Fontenette, on Flickr