Sam Houston Hotel Park? Sam Houston Park Hotel?

[Houston19514]

In the course of trying to find out about a splash pad at Market Square Park, I ran across this interesting piece in the May meeting minutes of the Downtown Redevelopment Authority (My best guess is they are considering a hotel/restaurant development at or near Sam Houston Park and someone just accidentally reversed the words "Hotel" and "Park".  How sad is it that this meeting was  2 1/2 months ago and apparently not a single local business journalist has made note of this potential development.

 

Mr. Douglas called on Mr. McCaslin to initiate the presentation by screen-sharing the hotel study performed at Sam Houston Hotel Park in November 2019, Mr. McCaslin noted this study was performed prior to the COVID-19 Pandemic. Mr. McCaslin continued through his presentation, presenting project specifics, including dollar amounts, and renderings. Questions were asked and answered, discussion ensued. Mr. McCaslin then called on Ms. Rosenfeld to begin the restaurant side of the study. Ms. Rosenfeld began her oral presentation by discussing the restaurant and foodservice operations possibilities, one stand-alone location and one located within the proposed hotel. Ms. Rosenfeld presented project specifications, type of service, and opening of the restaurant is suggested at the time of the hotel opening simultaneously.

Edited August 3, 2020 by Houston19514

[Houston19514]

After a little more digging...

 

From the agenda for the Downtown Development Authority's May meeting:

 

They commissioned a study to see if a boutique hotel at Sam Houston Park could generate enough cash flow to pay a lease to the City.  The proposed hotel is 80 rooms with "Unique Bar Centric Restaurant - Rooftop, Poolside or Park View with a Patio, etc." 

 

CONCLUSION:  Boutique Hotel at Sam Houston Park would be able to generate enough revenue to pay a lease to the City

-- The lease payment would be enough to reduce or potentially offset the cost of operating the Heritage Society

-- The lease payment would reduce the returns to a potential developer, making it more difficult to attract a developer to this project

-- Non-cash public incentives could be offered to make project more attractive to a developer, if available

NEXT STEPS:  Market study was completed prior to Coronavirus, as such no analysis of its impact was completed

-- Determine what, if any, incentives would be offered

-- Developer selection process to determine developer interest in the project (beginning in 6+ months)

-- An update to the study can be conducted at a later date, once more project details are determined to re-evaluate market conditions and the impact of Coronavirus and the resulting decline in oil and gas demand

 

[Montrose1100]

The Park is very cute but having it gated is very unwelcoming. I know they're probably afraid of a tent city popping up here, but at least they're looking into future changes. If the 45 ribbons weren't strangling it either, it could very well be the front lawn of the city to tie in with BBP.

 

I really hope they don't add building/hotel structure here. The potential is great for redevelopment. Imagine a Central Library redesign on top of that. 

[j_cuevas713]

On 8/3/2020 at 7:12 PM, Houston19514 said:

After a little more digging...

 

From the agenda for the Downtown Development Authority's May meeting:

 

They commissioned a study to see if a boutique hotel at Sam Houston Park could generate enough cash flow to pay a lease to the City.  The proposed hotel is 80 rooms with "Unique Bar Centric Restaurant - Rooftop, Poolside or Park View with a Patio, etc." 

 

CONCLUSION:  Boutique Hotel at Sam Houston Park would be able to generate enough revenue to pay a lease to the City

-- The lease payment would be enough to reduce or potentially offset the cost of operating the Heritage Society

-- The lease payment would reduce the returns to a potential developer, making it more difficult to attract a developer to this project

-- Non-cash public incentives could be offered to make project more attractive to a developer, if available

NEXT STEPS:  Market study was completed prior to Coronavirus, as such no analysis of its impact was completed

-- Determine what, if any, incentives would be offered

-- Developer selection process to determine developer interest in the project (beginning in 6+ months)

-- An update to the study can be conducted at a later date, once more project details are determined to re-evaluate market conditions and the impact of Coronavirus and the resulting decline in oil and gas demand

 

AWESOME! I have Amazon Smile and everything I buy a percentage goes to them. 

[H-Town Man]

I think if they waited until I-45 was gone, they could do something much better than whatever they could do now. This could have a strong impact on the skyline. Something by American Liberty Hospitality would be a total catastrophe.