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Regent Square: Allen Parkway at Dunlavy

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Surprised I'm the first to post this revelation (at least I think I am), but the Allen House is slated to be re-developed. Notices were on the doors of 3535 and 3505 Dallas and 3601 Allen Pkwy. June 1 closing.

Mixed used development planned...kind of explains all of the recent structure torn down in the area.

Surely the Chronicle will be on this news.

As for me, well its been home for a bunch of years...

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Surprised I'm the first to post this revelation (at least I think I am), but the Allen House is slated to be re-developed. Notices were on the doors of 3535 and 3505 Dallas and 3601 Allen Pkwy. June 1 closing.

Mixed used development planned...kind of explains all of the recent structure torn down in the area.

Surely the Chronicle will be on this news.

As for me, well its been home for a bunch of years...

That's not a huge surprise...they were past their prime, and seems like the Allen Parkway has been a hot commodity recently.

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Surprised I'm the first to post this revelation (at least I think I am), but the Allen House is slated to be re-developed. Notices were on the doors of 3535 and 3505 Dallas and 3601 Allen Pkwy. June 1 closing.

Mixed used development planned...kind of explains all of the recent structure torn down in the area.

Surely the Chronicle will be on this news.

As for me, well its been home for a bunch of years...

It has definatly been a cash cow. ^_^

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311xInlineGallery.jpg

Source: Houston Chronicle, linked above^^^

This is going to be a very interesting one. I'm not too familiar with the financial details, but the fact that they're already preparing to demolish the apartments is an indicator that the owner is confident in that they'll replace the revenue-producing improvements quickly. It is also a plus that they own the land outright, which means that the land would likely be used as collateral, making the loan less risky and/or easier to obtain. Still, this is kind of surprising to me, given that the 740 apartment units (a whopping number for high-end developments) will only add to the glut that is in the pipeline. I know that some developers are starting to realize that we're in for tough times, but apparently these folks are just oblivious.

Between this, BLVD Place, Westcreek, and High Street, I've also got to wonder how deep the market is for these kinds of developments, and whether an official groundbreaking on this one might result in the delay or cancellation of another.

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Still, this is kind of surprising to me, given that the 740 apartment units (a whopping number for high-end developments) will only add to the glut that is in the pipeline. I know that some developers are starting to realize that we're in for tough times, but apparently these folks are just oblivious.

when i read the article this morning, that was the first thought that crossed my mind. there is a HUGE glut of newly constructed apartments within a mile radius of this site. if you are a renter, i bet you will find some great deals in that area within the next 12 months :P

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I know that some developers are starting to realize that we're in for tough times, but apparently these folks are just oblivious.

Between this, BLVD Place, Westcreek, and High Street, I've also got to wonder how deep the market is for these kinds of developments, and whether an official groundbreaking on this one might result in the delay or cancellation of another.

As opposed to oblivious, they may just be of the opinion that theirs will be a better product. If the old adage that "there is always room at the top" holds true, and they follow through on the plan, this, IMO, would be more attractive than some of the surrounding developments. Further, while BLVD, High Street and Westcreek would compete for Galleria area renters, I would suspect that this development would attract more of the downtown renters.

But then, what do I know?

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I thought Allen House was at Allen Parkway between like Taft and 45 just outside downtown. Obviously I thought wrong.... so what the name of the place I'm thinking ??

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Wow this looks pretty amazing, and they seem pretty confident with their timeline concerning demolition and reconstruction. I truly hope this happens along with HP, that whole area(downtown & midtown) could be a different world by 2010. It feels like Houston is on the verge of having true urban communities connected to one another. Lets just hope these all break ground.

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I agree. I do think it's funny that all these great urban projects, like the ones already so successful in Dallas, are popping up everywhere EXCEPT in Midtown and along the rail, which was supposed to be a boom for this type of development. So typical of Houston.

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It must suck to be kicked out of those cheap apartments in a prominent location. Very sad.

This looked to me like it was a trustworthy developer who was putting their efforts into the design, architecture, open space, pedestrian access, and traffic access, of their complex. They are performing traffic studies and making sure the entrance/exits to the property were well designed and placed. That's being responsible with your power. I am very happy with what I see so far in the developers responsibility.

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As opposed to oblivious, they may just be of the opinion that theirs will be a better product. If the old adage that "there is always room at the top" holds true, and they follow through on the plan, this, IMO, would be more attractive than some of the surrounding developments. Further, while BLVD, High Street and Westcreek would compete for Galleria area renters, I would suspect that this development would attract more of the downtown renters.

But then, what do I know?

If "there is always room at the top", then we wouldn't have so many penthouse condo units still on the market.

More importantly, what happens when the bottom drops out of the market? Lower-end properties lower their effective rents even further, stealing away market share from the higher-end properties. In response, higher-end properties lower their rents, in effect maintaining a market share equilibreum, just with less revenue across the board.

Within this class of apartment products, where the number of comparable developments is very limited, I'd expect that these larger developments will be competing amongst one another. And although you're right that households will probably sort themselves between these developments by their place of employment, that still doesn't escape the fact that there is now potentially going to be more supply chasing after about the same amount of this type of demand.

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This will really change that neighbrohood. If you were hoping to preserve the feel of that area, this will be another nail in the coffin for you. Can anybody who has been to this area recently tell me how regentrification has been going on over there, are neighborhoods still rundown or are they moving on up?

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It must suck to be kicked out of those cheap apartments in a prominent location. Very sad.

That's ok. They can just come on over to the East End and the Astrodome/Medical Center area. I'd be more than happy to have them as neighbors. $$$ > :) $$$

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DoubleL-

This isn't in the old 4th Ward. This is further west along Allen Parkway closer to Shepherd. The area is very gentrified already and was never really down and out to begin with. This will be near the Royalton, Renoir, Gotham, and Metropolis plus the hundreds of condos that have sprouted up in Winslow Place (South of West Gray).

As for if this can work...this will be a top notch project in an incredible location...LOCATION LOCATION LOCATION. Where else can you move into in Houston that will offer Bayou/Park views, a jogging trail, non freeway easy access to downtown, uptown/galleria, med center, museum district, rice, uh, tsu, ust, greenway plaza, memorial park, hermann park, etc...? Where else can you find a neighborhood that will have all of the mentioned amenities built in? One that will be three blocks away from a nice Kroger Signature Store, the West Gray Shopping Center, and so much more?

Additionally, living in Boston, I am very aware of the work Stern Architects produces. These folks don't build on the cheap. They create beautiful spaces. There is obvioulsy big money backing this deal and I can asure you, the market will be there to fill these places.

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If "there is always room at the top", then we wouldn't have so many penthouse condo units still on the market.

More importantly, what happens when the bottom drops out of the market? Lower-end properties lower their effective rents even further, stealing away market share from the higher-end properties. In response, higher-end properties lower their rents, in effect maintaining a market share equilibreum, just with less revenue across the board.

Within this class of apartment products, where the number of comparable developments is very limited, I'd expect that these larger developments will be competing amongst one another. And although you're right that households will probably sort themselves between these developments by their place of employment, that still doesn't escape the fact that there is now potentially going to be more supply chasing after about the same amount of this type of demand.

having said that, when theres a glut of class "a" properties, they start offering concessions and reduced rents. they need warm bodies in the units and will practically give it away.. 2 or 3 months free, prorated, zero deposit, and with a free flat screen tv?!? no problem.. they end up taking people that would normally rent in a "b" property. their net effect is essentially the same, so why wouldnt they move into a brand-spanking-new apartment? who cares about the income requirements when their occupancy is blood red.

so then the "b"s have to start dropping rents, raising concessions, etc. just to keep their current residents. in turn, "c" residents start upgrading to "b"s. its a domino effect.

obviously this is a worst case scenario but is realistic. heck, we saw it just 18 months ago :mellow:

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That Dallas development looks amazing. They are really building some good stuff over there.

I hope this happens, more so than any of the other proposed mixed-use. I love how they want to connect it to the surrounding area, like River Oaks. We should be building a continuous city fabric, not a bunch of isolated shangri-las.

For those worried about oversupply, that will be taken care of when Continental acquires with United, puts the new headquarters in Houston, and relocates several hundred employees from their Chicago office.

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For those worried about oversupply, that will be taken care of when Continental acquires with United, puts the new headquarters in Houston, and relocates several hundred employees from their Chicago office.

Firstly, that is a big "if". Secondly, even if every single one of the several hundred moved into a Class A Inner Loop apartment, they'd only fill a small fraction of what is being built.

More likely, only one in about 23 employees' households would locate inside the loop...and not necessarily in an apartment, either. That is the prevailing trend.

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Firstly, that is a big "if". Secondly, even if every single one of the several hundred moved into a Class A Inner Loop apartment, they'd only fill a small fraction of what is being built.

More likely, only one in about 23 employees' households would locate inside the loop...and not necessarily in an apartment, either. That is the prevailing trend.

Maybe they'll advertise like crazy (i.e. endeavor) with a sexy lady infront of the building(s).

"In the first phase, most of the buildings will be traditionally styled, between four and eight stories, while a few prominently featured structures will be contemporary." The plans are dense!

This project is amazing, the location is really in the middle of it all... Montrose, Downtown, Eleanor Tinsley, Memorial Park, Midtown.

Edited by Montrose1100
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Maybe they'll advertise like crazy (i.e. endeavor) with a sexy lady infront of the building(s).

I should certainly hope so... :D

I can see it now: Property Managers Gone Wild! Scantily clad blondes performing dirty deeds to bad carribean music. ^_^

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I thought Allen House was at Allen Parkway between like Taft and 45 just outside downtown. Obviously I thought wrong.... so what the name of the place I'm thinking ??

Allen Parkway Village (now known as Historic Oaks at Allen Parkway Village)

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Firstly, that is a big "if". Secondly, even if every single one of the several hundred moved into a Class A Inner Loop apartment, they'd only fill a small fraction of what is being built.

More likely, only one in about 23 employees' households would locate inside the loop...and not necessarily in an apartment, either. That is the prevailing trend.

I was half-kidding, Niche. It's a pipe dream. But you'd have to think that high-salaried workers used to an urban environment like Chicago would be attracted to a place like this, so close to downtown. Kind of like the way Enron workers drove much of the apartment construction in midtown.

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I was half-kidding, Niche. It's a pipe dream. But you'd have to think that high-salaried workers used to an urban environment like Chicago would be attracted to a place like this, so close to downtown. Kind of like the way Enron workers drove much of the apartment construction in midtown.

Well yeah, you're right. ...but they might also be attracted to a place that offers three months of free rent and a free plasma screen TV. It happens. It will happen. Watch.

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Well yeah, you're right. ...but they might also be attracted to a place that offers three months of free rent and a free plasma screen TV. It happens. It will happen. Watch.

Don't forget about the Stripper in a bikini with giant sunglasses on a sail boat!!!

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Ummm...doesnt W Dallas St runs right through the middle of Allen House E/W?

Yes.. based on the render they provided to the chronicle.. it appears W. Dallas will run through the middle of the development, and that the actual public 'Regent's Square' will be right on W. Dallas.

It also appears there are pedestrian bridges over dunlavy... potential phase III maybe.

...least thats what it looks like to me.

regentsquare.jpg

2459.jpg

Edited by Highway6
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Makes sense. It was very hard for me to pick out a spot where an E/W street was crossing through in the unedited rendering.

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Whatever the number, Houston has been overbuilt before and underbuilt. All this (in my humble opinion) will work itself out. The location is awesome for the old Allen House .... my ex-boss lived there (couldn't stand her but she had a great unit at AH). Anyhow, unless I could afford a really nice highrise with all the bells and whistles, I'll keep the house and yard I have. But the younger generation and empty nesters will have a great selection of condos and apartments (close in) and perhaps with this many units being built, it will be a renter's market for a while (rents being affordable). It won't last, of course. Nothing does. But, I'd rather see Houston build than not. Besides, this urban concept reminds me of Greenway Plaza on steroids and up-to-date. Here's to the old Allen House... soon will be gone and forgotten. :blush:

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You know, this would be a great chance to put in a small light rail line on allen parkway to this project from downtown. :)

Eventually all the way down kirby. :lol:

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You know, this would be a great chance to put in a small light rail line on allen parkway to this project from downtown. :)

Eventually all the way down kirby. :lol:

Man, that would be perfect. (Although it would be even more perfect if it ran down, say, West Dallas to Kirby and then down Kirby to Reliant Park and meet up with the red line.)

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Man, that would be perfect. (Although it would be even more perfect if it ran down, say, West Dallas to Kirby and then down Kirby to Reliant Park and meet up with the red line.)

Just what we need, another stop at Reliant Park...you know, to relieve the inescapable and horrendous 'congestion' caused by foot traffic at the other one. <_<

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It would be nice if something hit the Village. PT sucks out there and there is only one "quick" bus. I say they need to start another line coming from that rail yard at the Fannin South Station and hit Kirby to the Village and try to make its way up Shepherd to Washington to hit the Intermodal Transit Center on the Near Northside.

Edited by WesternGulf

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It would be nice if something hit the Village. PT sucks out there and there is only one "quick" bus. I say they need to start another line coming from that rail yard at the Fannin South Station and hit Kirby to the Village and try to make its way up Shepherd to Washington to hit the Intermodal Transit Center on the Near Northside.

Agreed. The village needs rail service. Plus the whole Upper Kirby district is becoming quite urban and would be well-served by a rail line.

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Agreed. The village needs rail service. Plus the whole Upper Kirby district is becoming quite urban and would be well-served by a rail line.

It'll never happen. You think AO's opposition is bad...wait until RO gets a wind of it!

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wait until RO gets a wind of it!

I was thinking the same thing. Kirby is a hell of a lot more narrow than Richmond and Kirby through RO wouldn't have it. Probably even on Shepherd which is too narrow also.

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For whatever reason, people just haven't taken to the 18 Kirby. Thus, METRO hasn't been very aggressive about running bus service along the Kirby Corridor, including through the Village. Nevertheless, I agree that the service still sucks and I tend to think the general affluence of the communities lining the northern 2/3 of the strip are the types to use rail transit long before bus transit (if they were to even use public transit at all).

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I became aware of Allen House shortly after my move to Houston ( a few years back) and knew several professional coworkers who lived at Allen House as corporate housing (again, a few years back!)

I am sad to see this 'landmark' go, but am excited about the plans for redevelopment. If completed as described, this project will be a great catalyst for similar development in all of the surrounding neighborhoods - helping establish an urban Houston core

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