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BLVD Place / Hanover Towers / Apache HQ News & Pictures

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15 minutes ago, Urbannizer said:

 

I am happy to see this is truly starting. I do wonder, however, if the projects outside the loop help  or hurt the goal of urbanizing Midtown, for instance. Do the occupancy rates of uptown factor in to a project trying to get off the ground in Midtown? Do the total apartments U/C net out or stay unique to a sub-markets' economic factors and a projects viability?

 

Obviously I love to see progress in this city, but i do think about the net effect an apartment building like this has on the proposals for Midtown or BBP area. Just a thought.

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I'd assert that an Uptown development would have little impact on development progress in or near Midtown.  Each appeals to a somewhat unique market.  Someone looking to live in Midtown is interested in a more urban, pedestrian lifestyle with better public transport (i.e. Light rail).  Uptown offers a very different experience.   

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I live in Uptown and believe that its the most integrated mixed use neighborhood in the city.  Nowhere else do you get the density of apartments, offices, retail, restaurants and hotels. Since I moved here  the Memorial Villages I have become less car-centric and I make a point of walking to the pharmacy, bank, supermarket, retail store , etc. in all sorts of weather. I even walked my Thanksgiving turkey into the house from Whole Foods.   I don't think Midtown has as anywhere near the green space that we have in the Galleria/Uptown area  and our TIRZ has done a great job with the streetscape, including sidewalk lighting , to encourage pedestrian activity. 

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I think both y'all are exaggerating (in opposite directions.) Uptown does have a decent mix, but it's pretty spread out and has some serious scale issues. Midtown has a massive advantage in that it has a real street grid and some very walkable neighboring areas. As for green space? Midtown has some good small parks, and Hermann Park and Buffalo Bayou are both very easily accessible.

 

I'm excited that the TIRZ is pushing so hard to improve the neighborhood, but for me, Uptown is still not somewhere I would particularly want to live. I am very curious to see how the BRT line there does though, both for the neighborhood itself and as a prototype for additional lines. 

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Sky pools are starting to become a popular thing in Houston. Also you guys beat out Austin in terms of the having the highest swimming pool in Texas. 

Edited by JoninATX
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You'd think with the huge find that Apache made with the promise of billions of barrels of oil and gas in the Permian basin Balmorhea area that they would go ahead and build that nice 30 story tower we saw renderings of two years ago, and are still up on the going up page overview.

I think it would be a nice addition to Post Oak and create a continuous wall of towers along that side.

Does anyone have any insight?

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They found that massive basin yes, but isn't it in a pretty remote area? I would assume they're still figuring out the financials of this situation and whether it's worth it to start fracking in the near future.

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You're right they do have some issues with the location and I'm really not real excited about fracking under one of the most beautiful natural swimming holes and aquifers in Texas. But they will figure all of the technical issues out and the Permian Basin has taken off again with 

the development and use of new technologies. They're able to make a profit off under $50.00 a barrel prices so I can't see them waiting too long for production to start for Apache.

Edited by bobruss
spelling
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Nice shots Twitter 1. Its amazing how many new high rises have been built in Uptown galleria area in the last two years. 

I count about 14 new building over 20 stories or more. Thats some pretty quick infill.

BP Billiton

Hanover 1

Hanover 2

Wilshire 

Arabella

Skyhouse

BBVA compass 

Amegy 

 Fertitta tower 

Skanska across from Neimans

Astoria

Hyatt Regency Galleria

Belfiore

and the new hotel going up next to bbva compass

 

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Quote

A Houston real estate investment trust is making a mammoth real estate acquisition of two Texas properties, including BLVD Place, the Whole Foods-anchored shopping and office complex on Post Oak Boulevard.

Whitestone REIT, which is also buying Eldorado Plaza in the Dallas suburb of McKinney, said Wednesday that it will spend $204.6 million for both properties.

The acquisition of the 216,944-square-foot BLVD Place will come with 1.43 acres of land where Whitesone plans to build a six-story building with 46,000 square feet of retail space on the first two floors and 91,000 square feet of office space on the top four. The company estimates the development cost will be $45 million.

 

BLVD Place is owned by an entity including the project's original developer, Ed Wulfe of Houston-based Wulfe & Co.

 

The BLVD Place acquisition is Whitestone's 28th property in the Houston region. The company, which owns, manages and develops retail centers across Sunbelt markets, had its initial public offering in 2010.

Whitestone says it is negotiating financing terms with potential lenders to fund a portion of the BLVD Place purchase price with $80 million in mortgage financing.

El Dorado Plaza is home to corporate tenants, including Coca-Cola, Wells Fargo, Pizza Hut, Hilton Hotels, NexBank, iHeart Communications and Mary Kay Cosmetics.

The property contains 221,577 square feet of space, and Whitestone will have the option to purchase an additional 1.86 acres of land that would allow it to build approximately 24,000 square feet of additional space. Eldorado Plaza is 97 percent leased, and Whitestone expects to fund a portion of the purchase price with borrowings under its unsecured revolving credit facility.

 

Both properties are expected to close next month.

1

http://www.chron.com/business/real-estate/article/Whitestone-REIT-buys-Uptown-s-BLVD-Place-11084662.php?cmpid=twitter-desktop

 

confirms a new  6 story building is coming with two stories of retail

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1 hour ago, Houston19514 said:

 

That is the existing building fronting on Post Oak (housing Whole Foods)

 

^^^ props for clarifying this fact @Houston19514  as i was pasting it on, i harbored a sneaking feeling that something was quite familiar with the whole complex.  and yet, it still looked like a brand spanking new concept/rendering of a forthcoming addition.  (fool me once i guess) props again for pointing it out......

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1 hour ago, CrockpotandGravel said:

 

 

 

 




Ocean Prime may still open in Blvd Place. It's listed on recent marketing materials for 2412 Washington Avenue:

vgOWMGV.jpg


n8FqBcD.jpg

 

 

One never knows, but I would put about zero weight on this marketing piece with regard to Ocean Prime.  It looks like they just took some dated listing for Blvd Place. Note it also lists RDG+Bar Annie, which has since changed names, and Phillipe Restaurant, which I think was two concepts in the past.

Edited by Houston19514
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8 hours ago, Twitter1 said:

I spy red!

 

D9lnsPV.jpg

 

DTahbCW.jpg

 

 

Red. What am I missing?

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