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The Houstonian Hotel, Condominiums, And Future Expansion


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  • 3 months later...
  • 6 months later...
by the looks of their new website, this project looks good to go.  seems like a professional development team (shamrock :angry: )

redstone

My uncle's business. Redstone :) how do you guys dig up my family's business! LOL!

first my grandfather in PR (Public Relations) -opening the Shamrock

and now my uncle's business "Redstone Companies" -Houstonian is VERY nice!! :)

my brother kidded with my uncle and asked, "Can I get a family discount at the Redstone" and my uncle kidded saying, "you couldn't even begin to afford it" LOL!!

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  • 2 months later...

Word is groundbreaking will occur in mid to late September. The site is still used as a surface parking lot but rumor around the Houstonian is that the employees who regularly park there have been informed about future disruptions.

Seems as if the Redstone was the winner amongst the ultra high-end proposals (Monaco, Orions, and Redstone) that all came out around the same time!

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The Redstone Company owns the Houstonian as well as the new Redstone Golf Course. They also own a bank and are headquartered in an office building on the grounds of the Houstonian complex that bears the Redstone name. Thus, it's no surprise the tower is being built there.

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They also own Houstonian Lite (used to own Cafe Annies) also Cafe Adobes as well. As well as Shadowhawk Golf Course and some other golf courses. As I mentioned before my uncle is CEO of Redstone Companies. So I usually hear business talk at the dinner table when we go out to eat with family.

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oakmont (the project manager) is a reputable company and i believe this deal will happen. please feel free to check out the sales office within the redstone office building (4th floor, i think). while the sales office may not have the same pizazz as orion, i know they have worked the numbers over and over and over. all Is are dotted and all Ts are crossed.

if any highrise condos "were" to happen, this would be the 1st out of the ground in my humble, honest opinion.

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They also own Houstonian Lite (used to own Cafe Annies) also Cafe Adobes as well. As well as Shadowhawk Golf Course and some other golf courses.  As I mentioned before my uncle is CEO of Redstone Companies. So I usually hear business talk at the dinner table when we go out to eat with family.

Isn't the majority or redstone owned by a lady (a very rich lady?) I have heard she is pretty tough to deal with, but fair. I used to date a girl that worked for Redstone (well I went out with her three times and never called her again) and she loved the place.

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Isn't the majority or redstone owned by a lady (a very rich lady?)    I have heard she is pretty tough to deal with, but fair.    I used to date a girl that worked for Redstone (well I went out with her three times and never called her again) and she loved the place.

That is my understanding as well, Trophy. I'm (kind of) a member at the houstonian (the Augusta YMCA is just too convienent) and the people that work for her are pretty loyal. When the energy sector went south and the fitness industy in Houston was hit hard, she was the only outfit to not lay off workers. She just worked in the red for a bit until the money came back. Good practice in my book.

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  • 1 month later...

The article does make a good point about the $1 million plus market. It has got to be hard to justify condos that are that expensive in the Houston area. However, they do note the active market for Randall Davis's complexes that are in the 300K and up range. So hopefully the builders will take note of that.

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Blast it....

Althought, the articles states a growing interest in midrise living, such as the ones by Randall Davis. Hopeflly, the developers realize this, and begin to make some more midrise developments, which would better contribute to the urban scene (although from the renderings of the Empire, the street-friendlinss of the design could still use a bit of help).

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With $200 billion in federal aid going to the Gulf Coast and all the new construction will Houston construction projects be hurt? All that construction at the same time has to escalate building costs? It's just a theory, and I'm sure some on here would know better than I would.

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With $200 billion in federal aid going to the Gulf Coast and all the new construction will Houston construction projects be hurt? All that construction at the same time has to escalate building costs? It's just a theory, and I'm sure some on here would know better than I would.

It's not just a theory, it's a painful reality.

China, natural disasters, etc. are putting huge demands on building materials and labor. It is an unfortunate side effect (at least from the developer side) that the increased demand drives up costs.

Increased concrete alone is not insurmountable, however, when you figure concrete, steel (i.e. metal studs and structural steel), drywall, all going up 25%+, it makes marginal projects no longer feasible.

Developmental Darwinism....

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We should appeal the steel tariffs to help that price. American steel is way overpriced.

The cement powder for concrete is another issue. Demand is high and the US imports most of its cement power. We do import some of the raw materials to make the powder and manufacture it here, but most if the finished product comes on ships.

As an engineer, I'm noticing contractors are bidding slightly higher than cost estimates. The cost is showing up in the concrete and in hauling items. We are currently adjusting our cost estimates so we can give our clients better numbers. It doesn't look good when all the contractors bidding bid higher than the estimate.

As long as these projects can cover the rising construction cost with their sales, i think we will be fine, but i'm wondering what this will do to types of available units in the new condos.

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here's the deal... and please do not ask me to elaborate because i wont ;)

at first, redstone was going to do the deal internally and with their own money. after seeing several projects up on the drawing board (orion for one), they decided it wasnt worth having that much cash exposed. someone came in and said they would take over redstone's equity position, including purchasing the land. the new equity started to get cold feet and asked redstone to be a jv with the land. again, redstone wasnt too excited about the deal and perfered for it to be an all-or-nothing deal.

after serveral rounds of attempting to negotiate and renegotiate, everyone threw their hands in the air and said "ah, screw it".

the end.

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They're going insane with these highrise condos. They'll flood the market with them, and in a few years, when occupancy is like, 50%, they'll lower the prices. I plan on taking full advantage.

I heard the one at Sage and 59, that was built 6 or 7 years ago, charges a $1200 monthly maintainence fee. That's another house payment.. and their occupancy is at around 60% right now (I wonder why?).

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They're going insane with these highrise condos. They'll flood the market with them, and in a few years, when occupancy is like, 50%, they'll lower the prices. I plan on taking full advantage.

I heard the one at Sage and 59, that was built 6 or 7 years ago, charges a $1200 monthly maintainence fee. That's another house payment.. and their occupancy is at around 60% right now (I wonder why?).

A flooded high-rise condo market may result in lower asking prices for such condos, but I don't think a flooded market translates into lower monthly maintainence fees. The latter is usually tied to square footage amounts, not to sales prices. So even if you get a high-rise condo on the cheap, the maintainence fee will likely still be commensurate with the view.

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I thought that 500.00 was to much for fees for places like the Manhattan and the Metropolis condos. 1200. is tottaly out of the question. :o:o

Couple of things: First, I totally agree on maintenance fees. These places that are designed and marketed to be "full" service condominiums are pushing maintenance fees through the roof. A developer can use services as marketing tools and, should they prove to be more expensive than advertised, the HOA is stuck picking up the additional cost.

Having said that, buildings like Manhattan and Metropolis are both limited service buildings. This keeps costs down. It all boils down to preference, but most buyers would prefer more limited service and lower fees in IMO.

Second, I believe that Redstone's decision (with all due respect) to shelve the project was anything but "simple". They have invested millions into the project which are now gone without hope of being recouped. Pursuing a condo deal is very costly. A decision to abandon (read: Orion) means that someone or group has taken a serious hit. If Redstone wanted to sell the property, they could've.

Something more is at work here. I have heard (and it is unconfirmed) that the partners are in potential litigation which has tied up the land and prevented a sale. That is choice real estate and a buyer would have been easy to find. Especially when the alternative is writing off millions.

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  • 4 years later...

http://www.chron.com...n/6724217.html#

The Chronicle put together a group to assess the course at the Houstonian Golf & Country Club, site of this week's LPGA Tour Championship, and the review scores were off the charts.

Even with a wide range of spectacular area courses that would be excellent hosts for tournament golf, the LPGA could not have landed in a better spot than the Houstonian.

A Rees Jones-designed course that is difficult without being tricky, the Houstonian will play at about 6,700 yards this week. The wide-open design makes it an almost ideal venue course for viewing tournament play. The way the ropes are set up, the gallery will be in virtual high-five range of the players.

LPGA TOUR CHAMPIONSHIP

When: Thursday through Sunday.

Where: The Houstonian Golf & Country Club, Richmond.

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  • The title was changed to The Houstonian Hotel, Condos, and Future Expansion
  • 8 months later...
  • The title was changed to The Houstonian Hotel, Condos, And Future Expansion
  • The title was changed to The Houstonian Hotel, Condominiums, And Future Expansion

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