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


bachanon

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  • 3 weeks later...

This Week's Houston Deal Sheet

EXECS

Quote

Steve Kilcrease was promoted to the national director of planning and construction at Transwestern Development Co. He will oversee planning, design and construction management for the firm’s office, multifamily and mixed-use projects nationwide. Previously completed jobs include the Gulf States Toyota headquarters, a 475K SF corporate build-to-suit; BHP Billiton Tower, a 600K SF, 30-story office building; and The RO, a $750M mixed-use project.

https://www.bisnow.com/houston/news/deal-sheet/this-weeks-houston-deal-sheet-92013?utm_source=CopyShare&utm_medium=Browser

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Coolio, I always drive by the site and was waiting to hear an update since the banners still show a 2019 groundbreaking.

 

Man, this project could be massive if all phases are built out! So it looks like we are still going to get 3 towers in Phase I according to the packet.

Edited by CaptainJilliams
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Two thoughts:

 

1.) The slow march of the eventual merging of Upper Kirby, Greenway, Highland Village, ROD, and finally the Galleria  keeps progressing

2.) The AT&T building's (or at least its large parking lot) days are numbered.  

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4 hours ago, Urbannizer said:

Brochure reveals retail component and more of The RO Phase I:

 

https://s3.amazonaws.com/transwestern-property/Flyers/91c990da-f48d-e911-80f5-caa232701e1a.pdf

 

- 644 residential units

- 310,000 office building

- 200 hotel keys 

- 65,000 sq ft of retail

 

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Cha-Ching! Gamechanger! Looks like I get to update that large map at some point.

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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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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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  • The title was changed to The RO: Mixed-Use Development for ExxonMobil's Former Research Campus (West Alabama and Buffalo Speedway)
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My bad thinking about another project 

8 minutes ago, Twinsanity02 said:

What is this area called? It definitely is coming into it's own as another major  Houston Skyline after Downtown, Uptown, and TMC ( don't know if upper Kirby  or Greenspoint can be called this yet). Many cities would give up an arm to claim one of these skylines. 

Dont worry some hipsters PR firm will at some point  rebrand it..lol

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  • The title was changed to The RO: Mixed-Use Development At West Alabama And Buffalo Speedway

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