houstonfella Posted February 27, 2007 Share Posted February 27, 2007 A big hotel in the Dome would be making lots of money right now: Rodeo Houston. There simply isn't a nice hotel in that area at all. I am sure OTC would fill that hotel as well ... not to mention lots of other attractions, including the NFL, to offer a "nice" and interesting place to stay down there. Besides, it is on MetroRail. I think this one will happen. Quote Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted February 27, 2007 Share Posted February 27, 2007 A big hotel in the Dome would be making lots of money right now: Rodeo Houston. There simply isn't a nice hotel in that area at all. I am sure OTC would fill that hotel as well ... not to mention lots of other attractions, including the NFL, to offer a "nice" and interesting place to stay down there. Besides, it is on MetroRail. I think this one will happen.March 2007 was the month mentioned where Astrodome Redevelopment was told to make an announcement as to what will or should be done. It's promising news so far from the posters here, but I hope we hear something more concrete from Houston Chronicle, Reliant Park, or the Redevelopment website if there is one.If this hotel goes through, it give Houston a better chance at hosting another Super Bowl, or even bigger, become a stronger candidate to become one of the host cities for the 2014 or 2018 World Cup if the U.S. wins the bid.I also wonder what events the new Astrodome itself would host. I'm sure the Astrodome Hotel's middle would be part of RodeoHouston's event list, right? Perhaps hold the livestock auctions while the display remains in the AstroArena/Hall? Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted February 27, 2007 Share Posted February 27, 2007 In 2008, Houston will be hosting the Sweet 16/Elite 8 games of the men's NCAA Tourney on a friday/sunday rotation. Having the hotel inside the Astrodome would be a HUGE plus. It will certainly help the city in attempts to lure the Final Four (men's and women's) to Reliant Park.Other events that could help fill the space?Large scale conventions at the Reliant HallRodeo HoustonThe Texas Bowl (K State and Rutgers had 50,000 attend the game this year)Texans gamesNCAA Final Four/Elite Eight/Sweet Sixteen roundsMajor international soccer matches/World Cup/Gold Cup games Quote Link to comment Share on other sites More sharing options...
KDubRedRaider Posted February 27, 2007 Share Posted February 27, 2007 In 2008, Houston will be hosting the Sweet 16/Elite 8 games of the men's NCAA Tourney on a friday/sunday rotation. Having the hotel inside the Astrodome would be a HUGE plus. It will certainly help the city in attempts to lure the Final Four (men's and women's) to Reliant Park.Reliant Stadium is hosting the men's Final Four in 2011. Quote Link to comment Share on other sites More sharing options...
lockmat Posted March 31, 2007 Share Posted March 31, 2007 New article on this. It suggests that the county may pick up some of the tab.http://chron.com/disp/story.mpl/metropolitan/4676660.html Quote Link to comment Share on other sites More sharing options...
Subdude Posted March 31, 2007 Author Share Posted March 31, 2007 Well there's a shocker! Your tax dollars at work. It says they have a financing source, but my guess is that the source wants a sweetener or for the county to share the risk on such a dubious project. Quote Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 31, 2007 Share Posted March 31, 2007 Well there's a shocker! Your tax dollars at work. It says they have a financing source, but my guess is that the source wants a sweetener or for the county to share the risk on such a dubious project.Business-wise, that makes sense. In their eyes, they know the county would do everything they could to promote the project in order to avoid it from being a bad investment. At least it saves the Dome, keeps the preservists happy, and build Reliant Park into the ultimate sports/convention area. If I were an investment firm, I'd want the same thing. Quote Link to comment Share on other sites More sharing options...
MyEvilTwin Posted March 31, 2007 Share Posted March 31, 2007 New article on this. It suggests that the county may pick up some of the tab.http://chron.com/disp/story.mpl/metropolitan/4676660.htmlI read this article this morning, and was most amused. The "top official" who comments that the county may pick up the tab is the chairman of the Harris County Sports & Convention Corp. Now, am I mistaken, or is this not an entity that basically manages the money it's given by the county -- not one that actually has much say over what money is spent? Relegated to the very bottom of the article is the note that Radack is completely opposed to any county money funding this project. Doesn't that pretty much mean that the idea of county financial support is basically DOA? Or am I mistaken on who the real money-brokers are around here? Quote Link to comment Share on other sites More sharing options...
musicman Posted March 31, 2007 Share Posted March 31, 2007 I read this article this morning, and was most amused. The "top official" who comments that the county may pick up the tab is the chairman of the Harris County Sports & Convention Corp. Now, am I mistaken, or is this not an entity that basically manages the money it's given by the county -- not one that actually has much say over what money is spent? Relegated to the very bottom of the article is the note that Radack is completely opposed to any county money funding this project. Doesn't that pretty much mean that the idea of county financial support is basically DOA? Or am I mistaken on who the real money-brokers are around here?it will be interesting to see where the county will attempt to get this money. they are already in debt over the various stadiums big time. Quote Link to comment Share on other sites More sharing options...
NewMND Posted March 31, 2007 Share Posted March 31, 2007 Has anyone heard of the proposed project in Vegas called WET? I think something like that would be great for the dome, more so than friggin gondola rides or whatever, but I guess anything would be better than nothing for the dome, as long as it's not demolished. Quote Link to comment Share on other sites More sharing options...
bkjones98 Posted April 1, 2007 Share Posted April 1, 2007 I've said it before, and I'll say it again, "CASINO"!!!!!! Quote Link to comment Share on other sites More sharing options...
houstonmacbro Posted May 3, 2007 Share Posted May 3, 2007 Here's a link to a poll on what to do with it at Houston Business Journal. Make your vote count:http://www.bizjournals.com/houston/poll/in...51&hbx=e_du Quote Link to comment Share on other sites More sharing options...
KimberlySayWhat Posted May 3, 2007 Share Posted May 3, 2007 The link says "system error". Quote Link to comment Share on other sites More sharing options...
houstonmacbro Posted May 3, 2007 Share Posted May 3, 2007 The link says "system error".That's weird. I just tried it again (different computer) and it is working. Try this link. Quote Link to comment Share on other sites More sharing options...
tierwestah Posted May 3, 2007 Share Posted May 3, 2007 what happened to the hotel idea? I thought that was pretty much a done deal? Quote Link to comment Share on other sites More sharing options...
KimberlySayWhat Posted May 3, 2007 Share Posted May 3, 2007 (edited) Continued redevelopment efforts is at 63%. That's what I voted. Houston Biz Journal forgot to put the P in redevolopment. It says redeveloment. Edited May 3, 2007 by KimberlySayWhat Quote Link to comment Share on other sites More sharing options...
houstonmacbro Posted May 4, 2007 Share Posted May 4, 2007 I'm surprised the poll doesn't list how many people have actually voted. I am sure with HAIFers on there now it is probably more traffic than they've ever seen. Quote Link to comment Share on other sites More sharing options...
tamtagon Posted May 5, 2007 Share Posted May 5, 2007 BTW, I was at the Gaylord in Grapevine last year for convention. As a group of us were waiting in line to eat at one of the "Riverwalk" themed restaurants, the waitress asked us if we wanted to sit inside or outside. I looked up to the ceiling as if to ask? huh?hahahahaI think it would be really cool if whatever retail - hotel - dining - entertainment coop sets up shop inside the Astrodome also uses the space as a giant aviary and green house. It could get messy and way noisy, but an enclosure that big could make a suitable home for some very beautiful birds. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 12, 2007 Author Share Posted May 12, 2007 It turned out 63% voted for "continued redevelopment efforts" and 31% for demolition. The Houston Business Journal has a page of the responses and suggestions. Quote Link to comment Share on other sites More sharing options...
Trae Posted May 14, 2007 Share Posted May 14, 2007 So, it will be redeveloped? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted May 14, 2007 Share Posted May 14, 2007 So, it will be redeveloped?Not sure, but the Chronicle did put out some interesting figures on cost. They said that it'd cost $30 million to tear down and turn it into a parking lot but only costs $500,000 to maintain each year; another $1.5 mil is spent on events, but you can be sure that it wouldn't be spent if the events weren't worth at least that much. There was also a butt-load of money still left to be paid on bonds that financed the construction of the Astrodome, but no matter what happens, those are still there--they're a sunk cost.If you capitalize annual costs of $0.5 million dollars to present value on a real discount rate of 3% over 45 years, it comes to a present value of about $12.25 million. $12.25 mil < $30 mil. As a fiscal consideration, the county may have to even issue more debt to tear it down, and then amortized interest has to be paid, making demolition even less favorable from a political standpoint.Makes one wonder why the county is so seemingly-eager to tear it down. Quote Link to comment Share on other sites More sharing options...
TexasArchitect Posted May 25, 2007 Share Posted May 25, 2007 ok, so i heard today that it IS going to be a hotel..... Quote Link to comment Share on other sites More sharing options...
lockmat Posted May 25, 2007 Share Posted May 25, 2007 ok, so i heard today that it IS going to be a hotel..... Sources, baby! Let's go! Quote Link to comment Share on other sites More sharing options...
Double L Posted May 25, 2007 Share Posted May 25, 2007 If we can't pay for it we might want to try to get more investors. Maybe something different than a hotel, something like a theme park or a mall. Something that will get more people involved, and bring more money in. Go ahead and let free market competition of those who want to benefit from the project help pay for it....just a thought in the case this project hits any serious trouble. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 25, 2007 Author Share Posted May 25, 2007 ok, so i heard today that it IS going to be a hotel.....Financing came through, huh? I'm not sure if that's good news or not, since I've never been sold on the concept. Personally, I think the Dome should be donated to MFAH. Make it the world's biggest art musuem/sculpture garden. Quote Link to comment Share on other sites More sharing options...
TexasArchitect Posted May 25, 2007 Share Posted May 25, 2007 (edited) Sources, baby! Let's go! LOL, well the source that told me this said that from what he knows it is going to be approved to become a hotel. he said it still has some stuff to go through or what not, but he was pretty confident it saying it would happen. i don't know all the politics of this, but he does especially with his line of work. plus he's been proven reliable in other things he's shared with me. anyway, since this was verbally told to me i did a quick search myself online to see what i could find and this is what i came across. hope i can paste this correctly... <H2 class=vitstoryheadline></H2> Senate OKs public funding to overhaul Astrodome Copyright 2007 Houston Chronicle The state Senate has approved a measure that could provide millions of dollars in public financing if private developers pull off an overhaul of the Reliant Astrodome into a destination hotel. Sen. Kyle Janek, R-Houston, amended a House bill to qualify the project for hotel and sales tax rebates of up to $150 million over 10 years. It passed the Senate late Wednesday and goes to the House, where members must concur with the change. The legislation comes just in time for Astrodome Redevelopment Corp., the private entity seeking to transform the dome, which is counting on the future rebates to help it secure financing for the $450 million project. The Harris County Sports & Convention Corp., which manages the county-owned Reliant Park, set a June 1 deadline for Astrodome Redevelopment to prove it has lined up financing. Edited May 25, 2007 by TexasArchitect Quote Link to comment Share on other sites More sharing options...
musicman Posted June 2, 2007 Share Posted June 2, 2007 A company that aims to turn the Reliant Astrodome into an upscale convention hotel met a Friday deadline for showing that it is on track to obtain financing for the $450 million project, the company's president said.Astrodome Redevelopment Co. missed a deadline three months ago to show it had preliminary approval for financing, but the county extended the deadline to Friday."We felt like we complied" with the deadline, Astrodome Redevelopment president Scott Hanson said. "We submitted a package with our financing."Willie Loston, director of the Harris County Sports & Convention Corp., which oversees Reliant Park, said he and other county officials could not say whether Astrodome Redevelopment complied because they haven't had time to review the company's submission.Loston said he and Mike Surface, chair of the sports and convention corporation, will review the submission in the coming days. They will report to the sports and convention corporation's board on the issue at its mid-June meeting.full article Quote Link to comment Share on other sites More sharing options...
houstonmacbro Posted June 2, 2007 Share Posted June 2, 2007 "We felt like we complied" with the deadline, Astrodome Redevelopment president Scott Hanson said. "We submitted a package with our financing."full articleNot sure why this bothers me ... I think it is the use of the word: felt. I mean, either they did or they didn't comply ... right?What do feelings have to do with it. Quote Link to comment Share on other sites More sharing options...
musicman Posted June 2, 2007 Share Posted June 2, 2007 Not sure why this bothers me ... I think it is the use of the word: felt. I mean, either they did or they didn't comply ... right?What do feelings have to do with it.i know they missed their first deadline and asked for an extension til the end of may. i see your point. maybe they were going for the sympathy vote. we'll find out mid-june either way. Quote Link to comment Share on other sites More sharing options...
houstonmacbro Posted June 2, 2007 Share Posted June 2, 2007 i know they missed their first deadline and asked for an extension til the end of may. i see your point. maybe they were going for the sympathy vote. we'll find out mid-june either way.Yeah ... the whole Astrodome redevelopment seems to be unworkable. I know we all love the old building and its history, but seems like everyone that has tried to do something with it hasn't been too successful at getting it off the ground. Quote Link to comment Share on other sites More sharing options...
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