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Exactly. If you're paying $2,500 a month in rent, what's a $2 piece of fruit.

But if I were Whole Foods and had their experience with smaller stores in urban neighborhoods, I would not like the current downtown demographics enough to go into OPP. I bet it's another retailer entirely.

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Brasserie Du Parc is open for business. More pictures in the link below.   http://houston.eater.com/2017/1/30/14436692/houston-brasserie-du-parc-opening-photos  

Nate already got it but guess I'll still post it here too.   One Park Place by Marc longoria, on Flickr

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Exactly. If you're paying $2,500 a month in rent, what's a $2 piece of fruit.

But if I were Whole Foods and had their experience with smaller stores in urban neighborhoods, I would not like the current downtown demographics enough to go into OPP. I bet it's another retailer entirely.

Do you think Urban Market (in Dallas) is thinking about coming here? or possibly Trader Joe's?

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I heard it is going to be Central Market, don't know if it is true, but that is the rumor I heard. It makes sense due to the fact that Fingers was doing the other development off of W. Dallas that more than likely is not going to break ground and they had a lease agreement with Central Market.

Let's see if it pans out.

I live just SE of the Hilton and Toyota Center, so if this is true, I will consider myself to have hit the jackpot. Do you know how miserable it is living in the East End and your best choices are the ratty Kroger on Cullen or the pricy and somewhat distant Randall's in Midtown? Please please please let this be true.

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I live just SE of the Hilton and Toyota Center, so if this is true, I will consider myself to have hit the jackpot. Do you know how miserable it is living in the East End and your best choices are the ratty Kroger on Cullen or the pricy and somewhat distant Randall's in Midtown? Please please please let this be true.

It is not 'somewhat distant' from where you are to the midtown Randall's. Since when is a mile and half distant, or a hardship? If not having high-end groceries within a half mile is a hardship, then 99% of the metro is suffering. Funny how I don't hear them whining.

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I live just SE of the Hilton and Toyota Center, so if this is true, I will consider myself to have hit the jackpot. Do you know how miserable it is living in the East End and your best choices are the ratty Kroger on Cullen or the pricy and somewhat distant Randall's in Midtown? Please please please let this be true.

Take the 3!! You can catch it in downtown, and it'll drop you off right at the West Gray Kroger.

http://www.ridemetro.org/SchedulesMaps/Pdf...angleywgray.pdf

The 81/82 will take a bit longer, but if you're needing to get to Central Market, it'll drop you right off.

http://www.ridemetro.org/SchedulesMaps/Pdf...-sharpstown.pdf

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I live just SE of the Hilton and Toyota Center, so if this is true, I will consider myself to have hit the jackpot. Do you know how miserable it is living in the East End and your best choices are the ratty Kroger on Cullen or the pricy and somewhat distant Randall's in Midtown? Please please please let this be true.

Just take your truck.

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I didn't read through all 800 posts to check, but does anyone else think OPP looks incredibly similar to that building (hotel?) on the SW corner of I-10 and west loop?

Yes that was incredibly vague, I mean this place at 777 N Post Oak, which is apparently a sweet retirement home. Forgive the crappy google street view screen shot.

building.jpg

Edited by 20thStDad
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So I checked out OPP over the weekend (the A floor plan) and they are all leased up until the 17th floor. They lady also said that the entire building is about 30 percent leased so far which is pretty good. She also confirmed that there will be a specialty grocery store (central market, whole foods) that will likely open up by about April which is when the pool area will open up too.

The building really looks amazing and I think it will be a huge hit downtown... too bad it's more expensive the higher up the apartment is, I guess I looked too late.

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She also confirmed that there will be a specialty grocery store (central market, whole foods) that will likely open up by about April which is when the pool area will open up too.

Wait, they haven't even officially signed a lease and she's saying that they'll be open by APRIL? No. That's ridiculous.

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Wait, they haven't even officially signed a lease and she's saying that they'll be open by APRIL? No. That's ridiculous.

My office window looks out over the pool construction. The pool will be amazing. It's really huge - it spans a good portion of the width of the building. I'll try to get a picture of it this week and post it here

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Wait, they haven't even officially signed a lease and she's saying that they'll be open by APRIL? No. That's ridiculous.

I'm just repeating what she said... She seemed really sure of it too.

I'm just repeating what she said... She seemed really sure of it too.

Maybe it's because they are going ahead with developing the space/infrastructure for the grocery store so that there won't be much the client has to do with the place once they sign on...

Anyways, I kind of agree that it seems a little quick to happen that early

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My office window looks out over the pool construction. The pool will be amazing. It's really huge - it spans a good portion of the width of the building. I'll try to get a picture of it this week and post it here

Sweet, I wonder if anyone will forgo wearing a top at the pool, to get that perfect tan and stimulate the neighboring offices. . .:P

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Apologies for the truly awful quality of this picture (hey, today's weather didn't help any, either!), but here is a picture of the pool that's under construction. Yeah, I think I'll definitely have the binoculars handy in my desk drawer...

opppool.jpg

All I can see is Cloverfield in the picture.

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Heh....

Finger helped mayor write marketing letter

White offered support instead of tax abatement for apartments

By BRADLEY OLSON

Copyright 2009 Houston Chronicle

April 26, 2009, 10:43PM

Apartment developer Marvy Finger helped Mayor Bill White craft a letter that promoted One Park Place, Finger

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to continue confimration, many of the lower level apartments on the east side were lit up last night and some people were out on their balconies. I didn't see the west side of the building

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Just more FYI on the GROCERY STORE...

I called and got a little more info (talked to a manager this time). It is now projected to open in 6-8 months. :(

They still haven closed the deal on it yet, but I was informed that they've narrowed it down to 1 prospective client. No word on when we'll find out who. The manager confirmed that it is a specialty store "along the lines of Whole Foods, Rice Epicurean, etc."

The restaurant is "technically a separate deal, but most likely will be run by the same company".

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http://search.sys-con.com/node/1338614

To showcase that certain indelible style and sophistication that comes with city living, three local interior designers will participate in a unique design competition highlighting the innovative and luxurious style of urban living. Set at One Park Place, a 37-story, luxury, rental high-rise in the heart of downtown Houston, the designers will each design a one-bedroom, one bath unit with a study.

Is this factual?

...One Park Place, a "Houston Luxury Apartment" pays homage to New York City's Plaza Hotel...

And I just noticed the redid their website. It looks much nicer.

http://www.oneparkplacehouston.com/

Edited by lockmat
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I think it'll do quite well, Between all the hotels in the area and a few people trickling in from the nearby offices, it'll get quite a bit of business.

It will just all depend on how it's managed. I think it might do well on staples, though.

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Sounds interesting. And since it's a specialty store, hopefully it will draw people from surrounding hoods in. I know if they carry Peruvian spices I'll be going there for sure because right now the only place I know to get Peruvian stuff is way outside the loop on Dairy Ashford (they said on their website they have Chilean stuff so that's close). I hope they carry enough general groceries to make it useful to residents as well. Has anybody ever been to their other store?

Edited by Jax
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<br />Sounds interesting. And since it's a specialty store, hopefully it will draw people from surrounding hoods in. I know if they carry Peruvian spices I'll  be going there for sure because right now the only place I know to get Peruvian stuff is way outside the loop on Dairy Ashford (they said on their website they have Chilean stuff so that's close). I hope they carry enough general groceries to make it useful to residents as well. Has anybody ever been to their other store?<br />
<br /><br /><br />http://culturemap.com/newsdetail/05-03-10-a-downtown-grocer-at-last-phoenicia-heading-to-one-park-place/ cool video on Phoenicia moving to downtown
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I drove by the west side of this building this weekend and noticed the sidewalk is very skinny. I am surprised they didn't move the building over a few feet to the east for this; I think the west side has a fairly big sidewalk, I'm not for sure. But it doesn't look like people will have room to pass eachother with grocerties in each hand, not that it'll happen very often right now.

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houston magazine reports that 284 of 346 units in one park place are leased. is demand for this type of downtown residential such that similar developments could be in the works? are the remaining units considered a large number to absorb? i wonder if people are still signing on to live there?

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houston magazine reports that 284 of 346 units in one park place are leased. is demand for this type of downtown residential such that similar developments could be in the works? are the remaining units considered a large number to absorb? i wonder if people are still signing on to live there?

I think so, although not anytime soon. It is great that it has been such a success along with DG in general.

If I had loads of money and didn't care about the economy right now, I would put up the same thing in the empty lot in front of the newly renovated Market Square.

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houston magazine reports that 284 of 346 units in one park place are leased. is demand for this type of downtown residential such that similar developments could be in the works? are the remaining units considered a large number to absorb? i wonder if people are still signing on to live there?

The remaining vacant units, by themselves, would not be difficult to absorb. The challenge here is that stabilizing a new apartment property is ideally a two-year two-phase process, where the first phase is filling the property with heavy lease-up concessions, and the second phase is reducing the concessions and re-signing or re-leasing the property at stabilized market rates.

One Park Place opened its doors in March 2009, so in 17 months, it has filled 284 units (16.7 units per month). No doubt their target absorption would've been closer to 25 or 30 units per month, which would have allowed them to more or less fill the property before the first lease renewals began. Finger is on track to wrap up phase one about eight months late. It could get worse still, depending on how much turnover they're having, and even with lease-up concessions still being offered, it might be significant.

I would be hesitant to say that Finger has done anything less than a brilliant job, however. They had received construction financing in the summer of 2007, the very peak of the market. The economic collapse could not have been foreseen at the time. And to me, it seems that they've adapted well enough. ...my praise probably comes as little consolation to the equity investors, though, whose expected profits have been quashed by higher cap rates.

Edited by TheNiche
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