Jump to content

Regent Square: Mixed-Use On Allen Parkway At Dunlavy St.


Travel_n_Transport

Recommended Posts

Which means GID is paying property taxes on $50M+ of vacant land.

 

An optimist would say that it's likely someone like Hanover or Midway buys up the land and does something similar with it, but I think we should be prepared for something far crappier.

 

Most likely: a couple of residential towers. If we're lucky they may have some GFR.

Link to comment
Share on other sites

2 hours ago, Angostura said:

Which means GID is paying property taxes on $50M+ of vacant land.

 

An optimist would say that it's likely someone like Hanover or Midway buys up the land and does something similar with it, but I think we should be prepared for something far crappier.

 

Most likely: a couple of residential towers. If we're lucky they may have some GFR.

 I'm hoping I'm wrong. The alternative is they are going back to the drawing board on this project, similar to what Gulf Coast Commercial had to do for Lower Heights District. 

  • Like 1
Link to comment
Share on other sites

I've been out of the loop for a long time now, not keeping up with new projects like I used to, but it feels like we haven't had many new projects announced (I know a few have started recently). Are things slowing down? I know this project is a horrible barometer for health of new developments.

Edited by lockmat
  • Like 3
Link to comment
Share on other sites

18 minutes ago, lockmat said:

I've been out of the loop for a long time now, not keeping up with new projects like I used to, but it feels like we haven't had many new projects announced (I know a few have started recently). Are things slowing down? I know this project is a horrible barometer for health of new developments.

Things are probably slowing down but a lot is kicking off this year that’s really going to change the landscape pretty drastically. The next buildout will bring some great density. 

  • Like 2
Link to comment
Share on other sites

33 minutes ago, j_cuevas713 said:

Things are probably slowing down but a lot is kicking off this year that’s really going to change the landscape pretty drastically. The next buildout will bring some great density. 

 

Sweet. But I'm just wondering if this project possibly being axed is a lagging indicator that development is slowing down. The possible cancellation could be the result of a million things. Just speculating.

Link to comment
Share on other sites

6 hours ago, lockmat said:

 

Sweet. But I'm just wondering if this project possibly being axed is a lagging indicator that development is slowing down. The possible cancellation could be the result of a million things. Just speculating.

Well, quite honestly, we don't even know if this project has been "axed." I just simply noticed the main site is gone... whatever that may mean.

  • Like 3
Link to comment
Share on other sites

15 hours ago, lockmat said:

 

Sweet. But I'm just wondering if this project possibly being axed is a lagging indicator that development is slowing down. The possible cancellation could be the result of a million things. Just speculating.

 

4 hours ago, Angostura said:

 

This thread turns 12 next week. This project has been on the drawing board through the housing crisis in 2008/9, the oil boom in the early 2010's, the oil crash in 2015-7, and now the recovery from that crash. Whatever this project is an indicator of, economy-driven development cycles ain't it.

 

 

 

They may have 999,999 problems, but economy-driven development cycles ain't one.

  • Like 2
Link to comment
Share on other sites

14 minutes ago, SMU1213 said:

They're currently redesigning the master plan. It's going to have more residential and less retail (still plenty). They've said they plan on starting this year but who knows how real that is. 

 

welcome and thanks for the info, but do you have sources? Do you work for the developers or architects involved? You don't have to name names, but would be great to know if this was just a rumor you heard or you are an actual insider involved. Helps with context.

  • Like 4
  • Thanks 1
Link to comment
Share on other sites

2 hours ago, Luminare said:

 

welcome and thanks for the info, but do you have sources? Do you work for the developers or architects involved? You don't have to name names, but would be great to know if this was just a rumor you heard or you are an actual insider involved. Helps with context.

Too much fake news nowadays. Last thing we need is a Buzzfeed News incident at HAIF. :P /s

  • Haha 3
Link to comment
Share on other sites

My sources tell me this is dead for now and it might be a long time before anything happens to the Regent Square property. My source was working directly with the development firm. I believe they are from Boston. They were his client and he told me this weekend that it looks dead.

  • Like 2
  • Sad 1
Link to comment
Share on other sites

1 hour ago, bobruss said:

My sources tell me this is dead for now and it might be a long time before anything happens to the Regent Square property. My source was working directly with the development firm. I believe they are from Boston. They were his client and he told me this weekend that it looks dead.

It's GID out of Boston. They were still planning on going forward with it when I met with them a month ago. The "old plan" is dead but the development is still going forward. They claim they are starting by the end of the year but I won't believe them until I see shovels in the ground.  

  • Like 3
Link to comment
Share on other sites

1 hour ago, SMU1213 said:

It's GID out of Boston. They were still planning on going forward with it when I met with them a month ago. The "old plan" is dead but the development is still going forward. They claim they are starting by the end of the year but I won't believe them until I see shovels in the ground.  

 

Is the entire "old plan" dead? Is it just the massing? Is it just the design of each building? Is the park dead? I'm sure at this point 10 or so years down the road they would definitely have to reexamine the building layouts and design aesthetics. The Neo Historicist look was really a thing of its time when developers were trying to figure out how to recreate these urban settings, but a fresh contemporary look would do nicely. Plus when this was pitched, ideas like City Centre were in its infancy. Now they are everywhere in Houston and would be an easy product to sell.

Link to comment
Share on other sites

6 hours ago, Luminare said:

 

The Neo Historicist look was really a thing of its time

Thought the design was perfect, quite honestly. Had a warm and inviting feel to it. Looked like a place I could see myself visiting weekly. Plus it was different... wasn't another River Oaks District or City Centre.

  • Like 5
Link to comment
Share on other sites

9 hours ago, Triton said:

Thought the design was perfect, quite honestly. Had a warm and inviting feel to it. Looked like a place I could see myself visiting weekly. Plus it was different... wasn't another River Oaks District or City Centre.

 

I actually agree with you. As an interpretation of that movement it was quite successful. If they decided to do the same style, and executed it well, then I wouldn't have a problem. As you stated it would be unique because we don't really have a full fledged area with that kind of look. It also didn't look cartoony or what I've come to dub as the "theme park look". That being said, it is of a particular time whether it looks good or not. If they are going to sit on their butts for this long and change the plans up then its good time to change the aesthetics as well. They probably could get just as much of an impact if not more with something that is more contemporary.

Edited by Luminare
Link to comment
Share on other sites

The site layout and "urban planning" of the project, setbacks, RoW widths, pedestrian realm, ground floor transparency, landscaping, etc., are far more important than the actual architectural details. As long as you build with zero setbacks on relatively narrow rights of way, prioritizing pedestrian comfort and with plenty of street engagement (and preferentially narrow frontages), the result is going to be pretty good whether the style is steel-and-glass modern, red-brick colonial, hill-country limestone or even timber-frame.

 

  • Like 7
Link to comment
Share on other sites

2 hours ago, Angostura said:

The site layout and "urban planning" of the project, setbacks, RoW widths, pedestrian realm, ground floor transparency, landscaping, etc., are far more important than the actual architectural details. As long as you build with zero setbacks on relatively narrow rights of way, prioritizing pedestrian comfort and with plenty of street engagement (and preferentially narrow frontages), the result is going to be pretty good whether the style is steel-and-glass modern, red-brick colonial, hill-country limestone or even timber-frame.

 

I was with you until you said "hill country limestone," which is trash.

 

 

  • Like 4
  • Haha 4
Link to comment
Share on other sites

On 1/23/2019 at 12:05 PM, H-Town Man said:

Not surprised if they are reducing the retail, non-grocery retail is not high on investors' lists these days.

 

 

And yet . . .  "Shopping center space is hard to find in Houston, despite the store closures by a number of troubled retailers. The occupancy rate in Houston hit 94.9 percent at year end, the highest retail occupancy rate in many years, according to CBRE."

Edited by Houston19514
  • Like 5
Link to comment
Share on other sites

2 hours ago, Houston19514 said:

 

This does not have to do with supply in the Houston market. This has to do with what attracts investors and what sort of rate of return you can get. Investors are still hungry for grocery-anchored retail and shops that meet internet-proof needs such restaurants, nail salons, fitness, etc. They are not hungry for apparel or anything that can also be bought online. That is why cap rates have been trending upward for non-grocery-anchored retail centers for the past three years, and fewer are being built. Meanwhile, apartments are selling at far lower cap rates than any type of retail, given that there is no end in sight for demand there. So something like Regent Square, which was conceived in 2007 based on the market demands then, would look drastically different today, with more apartments and less retail (and probably a different mix of retail).

 

 

Edited by H-Town Man
Link to comment
Share on other sites

I talked to my neighbors about this and the Hanover site. Their biggest concern is that something like a Wal-Mart will happen if the Regent Square project is abandoned. I couldn't imagine that happening on a site this expensive. Am I right? Would Wal-Mart or another big box retailer build in Houston on land that's worth around $160 a square foot? 

 

I'm always surprised at how most people are so anti-development. It seems many people in the neighborhood are not even happy with Hanover replacing the abandoned detention center and the other buildings North of West Dallas. They also complained about the lack of parks! We are about 1300 feet from Buffalo Bayou Park! Apparently crossing Allen Parkway is not possible.

  • Like 4
  • Haha 2
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...