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BLVD Place/Hanover Towers/Apache Headquarters


Subdude

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nowhere in the article or video did wulfe say they were downsizing the hotel or scrapping the condo altogether... not saying that that won't be the case, but at this point that is purely speculation.

Your right. That's why I said I was inferring....

If you go back and watch the video or read the article, he clearly says that due to the financial crisis, they are going to have to revisit the project. To me, that can only mean one thing....not to mention that he said the Condo market in Houston was very soft. Hmmmmm, if they are going to revisit the project with a condo market that is soft, I figured it would be scraped. But again, Wulfe was not very clear.

Edited by wxman
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If there is a God in heaven he will awnser my prayers and let this get built to it's original plans. Nothing scrapped or downsized. This is the project in Houston I am most excited about. I dont care if they stop everything else, just please let this one get built right!

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Looks like the issue was getting financing, I think the bill passing fixed that.

Umm, unless it got fixed on Saturday or today, the bill did NOT fix that. Go back and read your business section. The reason the Dow dropped AFTER the bill passed is because the credit markets did not budge.

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If there is a God in heaven he will awnser my prayers and let this get built to it's original plans. Nothing scrapped or downsized. This is the project in Houston I am most excited about. I dont care if they stop everything else, just please let this one get built right!

LMAO, are you that serious?? condos and retail, but do we really need the 80-story office tower anyway?? What we need is street-level connectivity, and mixed use projects. The office tower to me is a snooooooze.

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got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly... they still expected both to happen, but they will be phased in.

As long as the lots remain empty and undeveloped, that's cool. I don't want some low density project built with the promise that it is only temporary, and then it turns out permanent.

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got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly... they still expected both to happen, but they will be phased in.

i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

:mellow:

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i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

:mellow:

As a sub on this project I will also confirm this. We have been told at least 6 months of delays.

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One can only assume that the Trickle-Up phenomenon, as i like to call it, is going to come into effect. i think developers, corps., banks and such are holding their breath, waiting to see how this market mess plays out. At least, that's what i would do. Look around our country; projects almost completed will be; projects half way completed are stalled; projects which only have some sort of foundation work done are on hold indefinately; and anything proposed probably won't come down the pipeline for AT LEAST a year or so. Keep in mind our economy effects the World economy. We borrowed money from the Chinese, Europe, Japan and parts of the Middle East. Because we can't pay them back due to our own domestic shortfall of $$$$, they aren't likely to help us fund any AMERICAN projects any time soon. i think the only thing they would be interested in is taking advantage of our slumped market and either buy up projects or build new ones for THEIR companies and THEIR purposes.

m. What do you all think? Am i off base? B)

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For the last two years as all these cool things were proposed I kept thinking, "Please just get it off the ground before the next crisis comes in to ruin it all." Because that always seems to happen, just like the oil bust of the 80's happened right when we were about to build a tower that would have been taller than the Empire State Bldg. All these mixed-use projects were the spawn of the biggest boom this city has had since that time, and it looks like they're all getting nipped just as they were about to bud.

I wonder if the two downtown skyscrapers under construction will be cut back in height?

Edited by H-Town Man
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One can only assume that the Trickle-Up phenomenon, as i like to call it, is going to come into effect. i think developers, corps., banks and such are holding their breath, waiting to see how this market mess plays out. At least, that's what i would do. Look around our country; projects almost completed will be; projects half way completed are stalled; projects which only have some sort of foundation work done are on hold indefinately; and anything proposed probably won't come down the pipeline for AT LEAST a year or so. Keep in mind our economy effects the World economy. We borrowed money from the Chinese, Europe, Japan and parts of the Middle East. Because we can't pay them back due to our own domestic shortfall of $$$$, they aren't likely to help us fund any AMERICAN projects any time soon. i think the only thing they would be interested in is taking advantage of our slumped market and either buy up projects or build new ones for THEIR companies and THEIR purposes.

m. What do you all think? Am i off base? B)

Of all the capital allocated to real estate investments, less <5% of it is foreign direct investment (FDI). There is an international story to be told, but it isn't nearly that neat, clear-cut, or reactionary in nature, and it is occuring at a much higher level of finance.

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For the last two years as all these cool things were proposed I kept thinking, "Please just get it off the ground before the next crisis comes in to ruin it all." Because that always seems to happen, just like the oil bust of the 80's happened right when we were about to build a tower that would have been taller than the Empire State Bldg. All these mixed-use projects were the spawn of the biggest boom this city has had since that time, and it looks like they're all getting nipped just as they were about to bud.

I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

I wonder if the two downtown skyscrapers under construction will be cut back in height?

Probably not. These projects already have financing in place and it would be unwise for the developers to try and rock the boat in this lending environment.

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I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

Great - fill us in on what Mark Doutzer says. Because obviously I was seriously suggesting that tall buildings were what caused this and the last downfall.

:D

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We have been told at least 6 months of delays.

i would be absolutely shocked if hanover starts construction in six months. anticipate a two to three year delay. however, if the economy comes roaring back, this could change. hanover is completely changing their business plan. unfortunately, im not at liberty to discuss the specifics but will say that developing highrises, going forward, are doubtful in the near future.

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Great - fill us in on what Mark Doutzer says. Because obviously I was seriously suggesting that tall buildings were what caused this and the last downfall.

:D

I never meant to imply that tall buildings cause real estate asset bubbles or the popping thereof. You are confusing correlation with cause. And I am only looking for an indicator.

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I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class. Maybe I'll hear about it at Mark Doutzer's next presentation.

Probably not. These projects already have financing in place and it would be unwise for the developers to try and rock the boat in this lending environment.

did you go to his presentation yesterday at the fed? really wish i could have attended that.

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on a new note,

it looks like ambassador way is nearly redone to accommodate more traffic and access to the new post oak lane extension (which is being worked on...) and the first phase building looks to be nearly complete on the outside and there are tons of workers on the inside...

looks like they are about ready to tear down the post oak facing temporary wall to expose the front of building and finished front parking lot or drive up...

exciting stuff.

Edited by gene
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  • 3 weeks later...
I guess the current building going up is called Boulevard Place 5? This link says it's supposed to be completed by December 2008. Anyone been by it lately?

http://www.colliers.com/Content/Repositori...rket_Report.pdf

According to the site plan on Wulfe's website, the building under construction is BLVD Place 6. It is coming along very well. They have even taken down most of the construction fence around the front. The linked site does say that BLVD Place 6 is to be completed in December 08. That appears to be possible.

(the site you linked actually says that BLVD Place 5 is to be completed in April 2010)

.

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  • 5 weeks later...

so hanover owns the property where their highrise was supposed to go, so one would figure that they will put something there sooner or later... my bet is later, of course.

also heard that the ritz is officially on hold and that there are rumblings that the whole foods is also on hold, although no real confirmations regarding the WF.

dont shoot the messenger

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good lord, you crack me up with your wacky responses and negative signature...i truly hope you find a way out of houston, a city i love...it might make it better...or at least more positive ha!

read the post above your post:

"also heard that the ritz is officially on hold and that there are rumblings that the whole foods is also on hold, although no real confirmations regarding the WF."

so no real confirmations and who knows what is happening...

just stay tuned...

Edited by gene
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good lord, you crack me up with your wacky responses and negative signature...i truly hope you find a way out of houston, a city i love...it might make it better...or at least more positive ha!

read the post above your post:

"also heard that the ritz is officially on hold and that there are rumblings that the whole foods is also on hold, although no real confirmations regarding the WF."

so no real confirmations and who knows what is happening...

just stay tuned...

Calm down... I was just a little excited... :)

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Current building that is approaching completion will house the tenants in the nearby shopping center. As the tenants move over, the older section can be demolished. It doesn't mean the next phases will start right away though.

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Isn't blvd place supposed to be a big project with a couple of skyscrapers etc.? What is going there? is this place for real? I keep seeing big projects getting cancelled hopefully this one is for real.

it's already under construction the the largest components (ie the 53 story ritz, 37 story hanover, and flagship whole foods) all appear to be on hold and in the case of the hanover, scrapped altogether

draw it up to simply having bad timing for houston

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I wonder if there are any economists out there that have put together a 'tall building index' to use as an indicator of when real estate is about to go belly-up as an asset class.

Not quite the same, but there is an architectural billings index published to gauge development activity. As one might expect it is at a record low (although it only goes back to 1995).

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Its always bad timing for Houston. Whenever Houston starts to go building crazy it gets hit by some economic meltdown right before all the really cool projects get off the ground. Very upseting!

Would you rather Houston have a ton of completed, but empty projects like in Dallas and Atlanta?

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Its always bad timing for Houston. Whenever Houston starts to go building crazy it gets hit by some economic meltdown right before all the really cool projects get off the ground. Very upseting!

You're right. We were hardly able to build anything in the 70s and 80s before that oil glut. ;)

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