Olshan Lumber Sold

[JBTX]

I was over at Olshan's compound off Commerce picking some stuff up and the lady there told me they had sold the property to someone, but wasn't sure to whom.

Let's begin the wild speculation of who bought it! I'll go first with a wish (HEB), and a real guess (Lovett).

My understanding is this is roughly the area of the Olshan property.

[downtownian]

45 minutes ago, JBTX said:

I was over at Olshan's compound off Commerce picking some stuff up and the lady there told me they had sold the property to someone, but wasn't sure to whom.

Let's begin the wild speculation of who bought it! I'll go first with a wish (HEB), and a real guess (Lovett).

My understanding is this is roughly the area of the Olshan property.

 

 

I'll guess New Hope Housing and 1,000 new affordable housing units

[JBTX]

56 minutes ago, downtownian said:

 

I'll guess New Hope Housing and 1,000 new affordable housing units

Knowing COH HHA, you're probably not wrong.

[Ross]

It looks like the property was sold in October of 2014 by the family that runs Olshan Lumber to a company call BFH Ranching or BFH Mining, with a lease back provision. BFH appears to be owned or controlled by a company called Cathexis. These same companies were heavily involved in buying the KBR property across the Bayou.

Thanks, Harris County Clerk's website!

Edited to add that the BFH entities and Cathexis are companies owned and controlled by the Harrison family, Houston billionaires.

Edited April 18, 2021 by Ross

[ljchou]

Do we know when the lease back provision ends

[Ross]

1 hour ago, ljchou said:

Do we know when the lease back provision ends

That wasn't clear in the documents I saw.

[EaDolivin]

Does anyone have more info on this?  I live in close proximity and am highly interested in what may come of this.

[ljchou]

3 hours ago, EaDolivin said:

Does anyone have more info on this?  I live in close proximity and am highly interested in what may come of this.

Given the full operation of Olshan on all of the lots it occupies and no tidbits of planning for the property, I wouldn't expect anything substantial to appear within the next few years at least.

 

Additionally, looking into Cathexis further, they are truly a holdings company. All local news regarding Cathexis only mentions them selling the land to Real Estate developers (East River land to Midway, some Greenway parcels, etc.)

Last edit: The only real estate transactions listing BFG as the seller, or at all, are from August of 2020 when they sold a parcel of land in the Block 58/59 Swiney Addition to KBRN.

Note: I am pretty sure most of the land in the East End is SM Williams. Any idea where Swiney Addition is?

Edited April 20, 2021 by ljchou

[Ross]

6 hours ago, ljchou said:

Given the full operation of Olshan on all of the lots it occupies and no tidbits of planning for the property, I wouldn't expect anything substantial to appear within the next few years at least.

 

Additionally, looking into Cathexis further, they are truly a holdings company. All local news regarding Cathexis only mentions them selling the land to Real Estate developers (East River land to Midway, some Greenway parcels, etc.)

Last edit: The only real estate transactions listing BFG as the seller, or at all, are from August of 2020 when they sold a parcel of land in the Block 58/59 Swiney Addition to KBRN.

Note: I am pretty sure most of the land in the East End is SM Williams. Any idea where Swiney Addition is?

Swiney is the area to the West and North of the KBR site. You can see Swiney Park on Meadow, South of I-10.

The BFH to KBRN sale was for a piece of land 66x196 at the end of Bayou Street.

KBRN is the owner of the big site, but Midway is one of the members of the KBRN LP, so has an indirect ownership.

[j_cuevas713]

My only hope is that the little red brick building doesn't get demolished. 

[EaDolivin]

On 4/27/2021 at 7:49 PM, j_cuevas713 said:

My only hope is that the little red brick building doesn't get demolished. 

IT would need significant work to retain, but would be nice office space if they demolish all the tin warehouse roofing around it.

[EaDolivin]

On 4/17/2021 at 8:46 PM, Ross said:

It looks like the property was sold in October of 2014 by the family that runs Olshan Lumber to a company call BFH Ranching or BFH Mining, with a lease back provision. BFH appears to be owned or controlled by a company called Cathexis. These same companies were heavily involved in buying the KBR property across the Bayou.

Thanks, Harris County Clerk's website!

Edited to add that the BFH entities and Cathexis are companies owned and controlled by the Harrison family, Houston billionaires.

Would you mind sharing the link to that?

[samagon]

https://www.hctax.net/Property/PropertyTax

look up any address, you just need the number and street, no zip.

so Olshan = 2600 Commerce.

handy tip, you can also use this site to pay for your property taxes.

Edited April 29, 2021 by samagon

[JBTX]

Looks like it's officially out of here.

[ljchou]

Are we sure that the BFH -> KBRN sale was for the end of Bayou street?

The entity that purchased the East River is a midway entity named "KBRN". There was a purchase by KBRN from BFH in August 2020.

As of 2019/2020 in HCAD there's no property north of the Bayou on BFH's ownership list. I'm curious if Midway scooped this land up?

 

[Ross]

On 4/29/2021 at 10:46 AM, EaDolivin said:

Would you mind sharing the link to that?

It's on the County Clerk's site, which doesn't allow linking as far as I can tell

8 hours ago, ljchou said:

Are we sure that the BFH -> KBRN sale was for the end of Bayou street?

The entity that purchased the East River is a midway entity named "KBRN". There was a purchase by KBRN from BFH in August 2020.

As of 2019/2020 in HCAD there's no property north of the Bayou on BFH's ownership list. I'm curious if Midway scooped this land up?

 

The document on the Clerk's site said end of Bayou Street. ~12,000 sq ft. Probably account 0351710000001 on HCAD

[EaDolivin]

the whole Olshan site here is a lot of property.  I wonder if the plan is to just sell it off in portions?

[ljchou]

1 hour ago, EaDolivin said:

the whole Olshan site here is a lot of property.  I wonder if the plan is to just sell it off in portions?

I've scoured every source I can to determine who purchased and I have found nothing. Any ideas where else I can look?

[Ross]

2 hours ago, ljchou said:

I've scoured every source I can to determine who purchased and I have found nothing. Any ideas where else I can look?

Read my post above 

You can look on the Harris County Clerk's site under real property to see the documents. Look for grantee BFH, an entity of the Harrison family. 

[MartiMoser]

There used to be a government site that you could look up the ownership history of an address. My dad bought my grandmother a home in Denver Harbor in 1942. He was 17 and the developer financed. I'd love to see the tax information on value. I have an insurance renewal and the coverage was for total coverage plus garage and contents was valued at $1100.00. The premium was 8.57 for 1 year and she paid it in 52 week increment. A lady with a receipt book would come by to collect for that and life policies she had on all members of the family. Even in 1942 could $1100.00 be right? 

[Ross]

1 hour ago, MartiMoser said:

There used to be a government site that you could look up the ownership history of an address. My dad bought my grandmother a home in Denver Harbor in 1942. He was 17 and the developer financed. I'd love to see the tax information on value. I have an insurance renewal and the coverage was for total coverage plus garage and contents was valued at $1100.00. The premium was 8.57 for 1 year and she paid it in 52 week increment. A lady with a receipt book would come by to collect for that and life policies she had on all members of the family. Even in 1942 could $1100.00 be right? 

There is some ownership history on hcad.org, but it only goes back to the digital conversion in 1987 or 1988(something like that). Here's the ownership history for part of the Olshan site 

It was transferred from Olshan to one of the family members of the owners of Olshan, then sold to BFH.

[EaDolivin]

Drove by today and they've already cleared out all the lumber.

[thedistrict84]

1 hour ago, EaDolivin said:

Drove by today and they've already cleared out all the lumber.

Wow, that was quick. They usually have a bunch of product on hand, although the supplies have been dwindling slowly over the last few years. 

[JBTX]

Contractor's office is officially closed as well.

[Montrose1100]

On 5/14/2021 at 2:08 PM, thedistrict84 said:

Wow, that was quick. They usually have a bunch of product on hand, although the supplies have been dwindling slowly over the last few years. 

I'm sure they could sell it all for a decent price. 

[ljchou]

Signs being deconstructed and removed. They're moving quickly.

[EaDolivin]

please let this be a grocery store please let this be a grocery store please let this be a grocery store🤞

[sapo2367]

Still no ideas on what this is going to be? It seems strange that Olshan wouldn't have kept operating if BFH etc didn't have a specific plan for the property (I guess that is what they have been doing since 2014).

Also, the total area is a little bigger than @JBTX's initial sketch -- it goes all the way south to Garrow St

I'm also hoping the grocery gods bless us with a shiny new HEB :)

Edited May 21, 2021 by sapo2367

[Texasota]

I really hope they have the good sense to keep that 4 story brick warehouse.

[EaDolivin]

9 minutes ago, sapo2367 said:

Still no ideas on what this is going to be? It seems strange that Olshan wouldn't have kept operating if BFH etc didn't have a specific plan for the property (I guess that is what they have been doing since 2014).

Also, the total area is a little bigger than @JBTX's initial sketch -- it goes all the way south to Garrow St

I'm also hoping the grocery gods bless us with a shiny new HEB :)

You're right about the boundaries of this property.  

 

Man...that's a LOT of land.

[JBTX]

1 hour ago, EaDolivin said:

Man...that's a LOT of land.

Yup. Hope the brick building brick stays too.

[wilcal]

For reference, I tried to make a scale representation of what the Montrose HEB would look like on the site:

 

 

DEFINITELY has space.

[thedistrict84]

24 minutes ago, wilcal said:

For reference, I tried to make a scale representation of what the Montrose HEB would look like on the site:

 

 

DEFINITELY has space.

I live a few blocks away and wholeheartedly endorse your idea of putting an HEB here.

Anybody have Scott McClelland’s email address?

[EaDolivin]

While my hopes are high, I guess I should temper my expectations a bit.  The avg income levels/pop density in this area right now are still too low for a Gucci-B to be built here, I think.

[77011transplant]

10 hours ago, wilcal said:

For reference, I tried to make a scale representation of what the Montrose HEB would look like on the site:

 

 

DEFINITELY has space.

They could put the HEB AND affordable housing across the street!

[wilcal]

4 hours ago, EaDolivin said:

While my hopes are high, I guess I should temper my expectations a bit.  The avg income levels/pop density in this area right now are still too low for a Gucci-B to be built here, I think.

What happens when you throw Downtown Houston into the mix, though? 

[thedistrict84]

6 hours ago, 77011transplant said:

They could put the HEB AND affordable housing across the street!

I assume you’re being sarcastic, but just in case: there is already a new 180 unit 55+ affordable housing complex directly across Delano, and a 120 unit complex at the northeast corner of Delano and Canal. There are numerous other affordable housing complexes within 1-2 miles.

I think we’re good.

We do need some more market rate stuff to come online, soon. Hopefully that will be a component of this (eventual) development.

[77011transplant]

 

21 minutes ago, thedistrict84 said:

I assume you’re being sarcastic, but just in case: there is already a new 180 unit 55+ affordable housing complex directly across Delano, and a 120 unit complex at the northeast corner of Delano and Canal. There are numerous other affordable housing complexes within 1-2 miles.

I think we’re good.

We do need some more market rate stuff to come online, soon. Hopefully that will be a component of this (eventual) development.

Yup - just a joke! 

Well, joking about the affordable housing part. Not the HEB part. Inject the HEB into my veins and neighborhood! 

Edited May 22, 2021 by 77011transplant

[MartiMoser]

Not to be the correctness cop, but lower income families have to live somewhere. And as far as I know, if my dad, grandmother,and the 2 littler siblings lived there in 1936 it definitely wasn't Silk Stocking Lane as daddy always called the fancier parts of Houston. They didn't have a pot to pee in or a window to throw it out of. 

In an unrelated and related subject, my little brother born in 1959 was a red headed freckled mess. He was nicknamed Mr. Olshan after the demolition branch of Olshans. If given the chance I know for a fact he'd be able to tear up an anvil. ❤️

Photo was snapped shortly after throwing a few brick around from the bbq pit construction situation. 3 years old. Old Chocolate Bayou Rd memories.

Lol. 

[77011transplant]

Agreed that affordable housing is important, and I'm happy a handful of complexes are going in on the East End. 

I also think that affordable housing should be spread equitably throughout the city. 

Cute picture!

[EastEndHeritage]

On 5/22/2021 at 4:19 PM, 77011transplant said:

I also think that affordable housing should be spread equitably throughout the city.

Exactly my point! The Heights have been successfully fighting affordable housing. Karla Cisneros sure loves putting these type of projects in the East End, but fight them off in her neighborhood in the Heights.

[samagon]

imagine someone trying to put affordable housing in Uptown! oh wait, it would have created too much traffic, but they can have all the non-affordable housing, that doesn't create any traffic!

[j_cuevas713]

On 5/21/2021 at 3:25 PM, Texasota said:

I really hope they have the good sense to keep that 4 story brick warehouse.

I said the same in an earlier post. If I owned the land, I would make that little building a central focal point for the rest of the development area. 

[EaDolivin]

I noticed today that they're piling up all the metal racks and what not in containers to haul away. I'm assuming next is tear down/demolition of the structures around the property?

[JBTX]

That would be my guess, yeah. Not sure there is much reuse/remodel potential (except the brick building).

Edited June 22, 2021 by JBTX

[sapo2367]

Ok got way too down the rabbit hole on this one, but found this quote in the linked document concerning this site (P49)

"Current land use of the Olshan property is commercial; however, planned future use of the subject property is residential redevelopment."

https://www.publicworks.houstontx.gov/sites/default/files/assets/msd-application_2019_129_olc.pdf

from 2019, so take from that what you will.

 

[ljchou]

15 hours ago, sapo2367 said:

Ok got way too down the rabbit hole on this one, but found this quote in the linked document concerning this site (P49)

"Current land use of the Olshan property is commercial; however, planned future use of the subject property is residential redevelopment."

https://www.publicworks.houstontx.gov/sites/default/files/assets/msd-application_2019_129_olc.pdf

from 2019, so take from that what you will.

 

Web sleuth of the year award.

Would love for the area to be less industrial so I am here for residential. I live just east of York St and there's such a disconnect between the retail/residential area of Commerce (near tout suite/cidercade) and the connection to the York/Sampson corridor and it's primarily that long stretch of land occupied by Olshan. That'd be a great connection to the Second Ward/East End neighborhoods.

I wonder if the East End Center of Commerce is aware of these updates and incorporated them into their plans for the Navigation Esplanade? I know Commerce and Canal were on those drawings.

[ljchou]

3 hours ago, ljchou said:

Web sleuth of the year award.

Would love for the area to be less industrial so I am here for residential. I live just east of York St and there's such a disconnect between the retail/residential area of Commerce (near tout suite/cidercade) and the connection to the York/Sampson corridor and it's primarily that long stretch of land occupied by Olshan. That'd be a great connection to the Second Ward/East End neighborhoods.

I wonder if the East End Center of Commerce is aware of these updates and incorporated them into their plans for the Navigation Esplanade? I know Commerce and Canal were on those drawings.

just checked and they do not

[JBTX]

I found the JLL listing brochure for the property: https://research.catylist.com/api/images/data/og/media/user_uploads/6075bf12e88abb000181214f_olshan_eado_flyer_sm.pdf

I can't tell how old it is (lists that there is an ongoing Lease until June 2021, but also shows a mostly built out Forth at Navigation on the photos). Page 11, showing the back part of 8th Wonder as the "Navigation Esplanade" made me laugh a little.

[sapo2367]

Triggering for all the East End people