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Is the market for these new apartments really those living in pre-1980s small complexes or 1990s garden style apartments, though? I doubt it. If anything, I smell redevelopment opportunity a la Memorial Heights.
 

In any case it will certainly be interesting to see how what I’m calling the “Central Core” market (inside of Shepherd) has evolved 10 years from now.

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Did some quick photoshop during my break of both Hanover and GID put together.   Existing Conditions:     Full Build Out of both Develepments:     Now

Website finally updated!!   http://regentsquarehouston.com/

New Master plan with a number of tenants in mind   http://www.wordsearch.co.uk/work/regent-square/  

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On 11/5/2019 at 11:58 PM, mattyt36 said:

There are very few large complexes 30-40 years old inside the loop due to the sewage-related building restrictions in the 1970s (probably ended up being a good thing in the 1980s). I don’t think it’s a stretch to say that the central core (inside Shepherd) had an dearth of real multifamily options until the last 10-15 years when compared with other cities.
 

I’d imagine the market that is going to be most pressured is the West Loop as well as some of the older Midtown units (but are there really that many?).

 

 

I think this is right. The sewer moratorium caused a major disruption in what would normally have been the geographic distribution of multi-family development. As a result, places like Montrose, Midtown, and the Heights were significantly under-built. This is now being corrected.

 

W/r/t demand, about 37% of US households are 1-person, and another 31% are childless couples (both married and co-habitating). While not all of these people want to live in apartments, a lot of them are perfectly content to, at least for a number of years.

 

BTW, only about 21% of households are married couples with children, which is probably less than half of what most people would guess.

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3 hours ago, Angostura said:

 

 

I think this is right. The sewer moratorium caused a major disruption in what would normally have been the geographic distribution of multi-family development. As a result, places like Montrose, Midtown, and the Heights were significantly under-built. This is now being corrected.

 

W/r/t demand, about 37% of US households are 1-person, and another 31% are childless couples (both married and co-habitating). While not all of these people want to live in apartments, a lot of them are perfectly content to, at least for a number of years.

 

BTW, only about 21% of households are married couples with children, which is probably less than half of what most people would guess.

 

Didn't know about this "sewer moratorium" where could I go to read more about this? Why was this the case?

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I think the kind of money that is currently flowing into Houston to build these projects is not at all concerned about short term occupancy rates and whether the oil and gas market is up or down or in between.  We are getting big money following into Houston from national and international equity funds.  They are more concerned with the movement of interest rates, stock market valuations and national and international real estate trends.  Over building in Houston in a low interest rate environment may very well be a better bet than an overvalued stock market or other real estate markets that are overvalued.  And gone are the days when local guys would live or die by whether the development leased up within a few years.  

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In addition, other cities also have sprawl: DFW, Kansas City, Minneapolis-St. Paul, Indianapolis,LA. All had the great majority of their metro growth and design after the War when families were larger, folks purchased automobiles and wanted to live in single family houses. It's less expensive and roomier to live in the suburbs when you have children to raise. No children or just one child, the city may be more affordable.

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On 11/8/2019 at 6:21 AM, Angostura said:

 

 

I think this is right. The sewer moratorium caused a major disruption in what would normally have been the geographic distribution of multi-family development. As a result, places like Montrose, Midtown, and the Heights were significantly under-built. This is now being corrected.

 

W/r/t demand, about 37% of US households are 1-person, and another 31% are childless couples (both married and co-habitating). While not all of these people want to live in apartments, a lot of them are perfectly content to, at least for a number of years.

 

BTW, only about 21% of households are married couples with children, which is probably less than half of what most people would guess.

 

This sewer issue, which has been mentioned before, but not discussed in too much depth, actually makes sense when you think of how much sewer work the city is currently doing in Midtown (Caroline is destroyed, and various other streets have work being done on the weekends). And to an extent in the Museum District (part of the package for these apartments to move into the District usually involves them paving small ditches and doing sewer work). And I guess I never thought of Montrose/Muesum District/Midtown as under-built, just that a new need has arisen. But now it makes sense why people are stumbling over themselves to dump trucks of money in these areas, as if playing catch-up. 

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29 minutes ago, X.R. said:

 

This sewer issue, which has been mentioned before, but not discussed in too much depth, actually makes sense when you think of how much sewer work the city is currently doing in Midtown (Caroline is destroyed, and various other streets have work being done on the weekends). And to an extent in the Museum District (part of the package for these apartments to move into the District usually involves them paving small ditches and doing sewer work). And I guess I never thought of Montrose/Muesum District/Midtown as under-built, just that a new need has arisen. But now it makes sense why people are stumbling over themselves to dump trucks of money in these areas, as if playing catch-up. 

 

I've said it before in this forum, but if there is one thing holding back Houston from truly being a world class city, its infrastructure in all of its forms. If we can properly invest in infrastructure then there isn't anything this city can't do, or be like the other great cities. We just have to make that kind of civil commitment. I think its already starting to happen, but more can be done.

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3 hours ago, Luminare said:

 

I've said it before in this forum, but if there is one thing holding back Houston from truly being a world class city, its infrastructure in all of its forms. If we can properly invest in infrastructure then there isn't anything this city can't do, or be like the other great cities. We just have to make that kind of civil commitment. I think its already starting to happen, but more can be done.

Agree. That's really all that's missing. The kickoff of Shepherd and Durham is huge. 

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3 hours ago, Luminare said:

 

I've said it before in this forum, but if there is one thing holding back Houston from truly being a world class city, its infrastructure in all of its forms. If we can properly invest in infrastructure then there isn't anything this city can't do, or be like the other great cities. We just have to make that kind of civil commitment. I think its already starting to happen, but more can be done.

Infrastructure is really broad, is there any 2 pieces that fall underneath that umbrella you believe are the most necessary?

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18 hours ago, X.R. said:

 

And I guess I never thought of Montrose/Muesum District/Midtown as under-built, just that a new need has arisen. But now it makes sense why people are stumbling over themselves to dump trucks of money in these areas, as if playing catch-up. 

 

The center of gravity for development was closer to the Galleria than the CBD in large part because that was where you could build apartments. This probably led to some of the multi-centric development pattern we have (uptown, energy corridor, Greenspoint, etc.) rather than more jobs concentrating in the CBD. Now that the supply of central-neighborhood housing is allowed to meet demand, we've seen a LOT of densification in the last couple decades, and probably more to come.

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2 hours ago, Angostura said:

 

The center of gravity for development was closer to the Galleria than the CBD in large part because that was where you could build apartments. This probably led to some of the multi-centric development pattern we have (uptown, energy corridor, Greenspoint, etc.) rather than more jobs concentrating in the CBD. Now that the supply of central-neighborhood housing is allowed to meet demand, we've seen a LOT of densification in the last couple decades, and probably more to come.

 

Ironically in the end while this will make it a challenge infrastructurally to move people from center to center, the multitude of centers/urban cores we have actually makes our city rather unique. Interesting the cause and effects regulations have both positive and negative.

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7 minutes ago, Luminare said:

 

Ironically in the end while this will make it a challenge infrastructurally to move people from center to center, the multitude of centers/urban cores we have actually makes our city rather unique. Interesting the cause and effects regulations have both positive and negative.

What's unique about multiple centers? Many large cities have them including most of our peers like Dallas and Atlanta and of course cities like LA, SF, DC, and NYC. 

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Are there any regulations around work time for projects like this development.  At least 20 trucks arrived between 4am and 6am this morning (Saturday).  

 

If there is a regulation around work time - who enforces it and how would i report on it?

Thanks

 

Edited by Jimmy Bob
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On 12/7/2019 at 11:29 AM, Jimmy Bob said:

Are there any regulations around work time for projects like this development.  At least 20 trucks arrived between 4am and 6am this morning (Saturday).  It has been interesting to watch the progress this week.  Monday - Thursday saw the delivery of hundreds of truckloads of dirt.  Friday and Saturday have seen them remove at least 100 truckloads of dirt.  Seems like the project is off to a rough start.

 

If there is a regulation around work time - who enforces it and how would i report on it?

Thanks

 

 

Start here. You may have to did further into the citation provided to see if it has been updated. This is a city by city comparison from Austin but includes Houston.

 

http://www.austintexas.gov/edims/document.cfm?id=253779

 

Section 30-16(5) establishes an affirmative defense for: “the erection, excavation, construction, or demolition of any building or structure, including the use of any necessary tools or equipment, conducted between the hours of 7 a.m. and 8 p.m., which activity did not produce a sound exceeding 85 dB(A) when measured from the property line of the residential property where the sound is being received. “

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I figure that question was about construction sites closing due to the virus. From what I’ve read construction workers are exempt from lockdown. I live close to regent square and can see the crane from my window. They appear to be working today.

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Exactly.  I was wondering if a worksite is left idle for 2,3,4.. months (due to the virus) does there come a point that the building site degrades to a point where the repair costs rise and the project is no longer financially feasible.  If they are exempt, then it's a moot point.  If I was building a home I would be a little upset if it sat in the rain for 2-3 months, half built and exposed to the elements.  I'm not any kind of expert on big commercial buildings, so I was asking.

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There is no lockdown in Harris County anyway, and even in counties that have more strict shelter-in-place rules than the very light ones effective for us today, construction is generally still allowed.  So I wouldn't see that as a concern just yet.

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