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The RO: Mixed-Use Development At West Alabama And Buffalo Spdwy.


YakuzaIce

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  • 3 weeks later...
15 hours ago, ekdrm2d1 said:

Class AAA Office.  Would this be a Houston first? Thinking that's just a marketing term, and they actually mean Class AA.

 

there's no real classification system for office properties - it's all marketing more or less. AA/A+ is commonly used for the newest asset classes, though.

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  • 3 weeks later...
21 hours ago, Geoff8201 said:

A couple things I heard through the grapevine...

 

Parcel 1 at the corner of Buffalo and Alabama will be a 37 story luxury residential building for rent.

Dang, that's gonna block my view of NRG Stadium. ☹️

 

OTOH, I'll have some great construction pics to post. 🙄

The-RO.jpg

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49 minutes ago, CREguy13 said:

In this situation I would lean more towards the project scope having grown and now of higher value.  If Jon Pickard is involved, I'd be shocked if it came below expectations.

From what I have heard, they designed too expensive of a building and are redesigning it. They would need about $10 psf (25%) above market rents to make a market return on the building they designed. 

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22 minutes ago, SMU1213 said:

From what I have heard, they designed too expensive of a building and are redesigning it. They would need about $10 psf (25%) above market rents to make a market return on the building they designed. 

 

Not surprised, honestly. The advantage to get these large scale developments is that we get new urban cores to both infill and later grow out from, but the disadvantage is that you are having to spread out your monies to multiple buildings instead of one. Its highly likely in that situation that the quality per building is going to go down. Then again, in this new phase our city is in, we are looking for more quantity than quality. At some point when you get a good critical mass of quantity will quality arise from that.

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