Fortune

Definitely a watered down version of the Studio Gang's Aqua Tower (pun intended), but grateful for a step in the right direction for Houston.

Look for Hines to develop the super block just east of this project - surrounded by W Alabama/Westheimer and Buffalo Speedway/private street just east of St. Luke's Methodist Church.

What is it going to be developed in to ?

The Skyhouse in Atlanta has a 6 story parking garage next to it with ground floor retail.

At the same time, whether it is developed next year or next decade, won't it bring more investment to the east side of town in anticipation?

It will just cause land speculation. Land will be purchased and held on to for long periods of time. I doubt that we would see any development anytime soon. Land prices will just be driven up.

Like was mentioned look at midtown its perfect example. Lots of developments could have taken off in the area if not for land speculation driving up the prices of property and property owners holding on to land to attempt to make a higher profit.

I agree with lockmat, either this site is going to sit vacant for a long period of time or it will be developed into something really underwhelming. Look at the other large parcels of land around the loop that can't get developed many of them in much better locations.

Like lockmat mentioned Regeant Square which the developer says will take 10 years to develop is located between downtown and River Oaks and still can't get developed. Other sites include the six flags site which has sat vacant for years, the hardy yards site which I think is really comparable to this site as far as it being in a yet to be desired area close to downtown it even is next to the light rail and still hasn't been developed.

You can also look at the mix used developments Highstreet and River Oaks District both in highly desirable locations where large pieces of land are very scarce. Both of these projects where greatly downsized.

WoW it grew 5 stories. Can't wait to see this one finished. It is a very unique design for Houston.

Exactly who ?

This article doesn't mention this project, but it's Camden's CEO discussing risks of mixed use projects from his perspective.

“It’s easier and much safer from a business perspective to do them separate,” he said when he sat down with me for a Business Journal Interview. “Everyone in America wants mixed use, but you have to be the second or third owner to really make it work.”

Mixed use isn't economically feasible 80 percent of the time, he added."

http://www.bizjournals.com/houston/blog/breaking-ground/2012/10/ric-campo-discusses-the-risks-of.html

Oh ok so he doesn't want to take the risk or he doesn't have the capital to make it happen.

I was at a speaking event for the Camden CEO about 3 years ago. He was vehement about no retail in the bottom of his developments in Houston.

Oh wow did he explain why he was so adamant about not having retail at the bottom of his developments in Houston? I wonder what made him change his mind or feel this way about retail at the bottom of his developments because at one point in time he did propose it.

Here is a rendering of the development in another topic on the forum:

It shows the bottom floor retail under the apartments.

unless i missed something i'm certain retail is still a significant component to the apartment project, not to mention the retail sites in the park. where are you reading that retail was taken out of camden's project? i think the intent has always been mixed use.

There has been no mention of any retail in any of the new articles other than the mention of the retail that will be part of the park which isn't substantial size wise. The new articles say that Camden is building a apartment building that will be 7 stories of 300 apartment units. I think that if the building was still going to be mixed use it would be mentioned. Hopefully you are right though.

I'm let down by this project. It's great that the area is getting a new park, that's wonderful. However, I'm disappointed about the apartment project. At one point in time this was going to be a mixed use project with retail as well as the apartments. Now it's just apartments, what happened to the retail ? It just seems like a huge waste of opportunity to create a unique development in Midtown. It's a huge piece of land centrally located in the middle of Midtown next to the light rail. Think of how great of a environment this could be with the park and a mixed use development with retail.

Brookfield has about 350k sf they are trying to fill up from Hess vacating the Allen Center and moving into their own building. Once Devon vacates next year there will be about 550k sf available for lease. It will be Devon's responsibility to sub-lease the space since their lease doesn't expire for 7 years. So Brookfield really only has the large 350k sf block of space to lease. They will just be competing with Devon to lease space in Allen Center.

Ohhhhhhhh LoL

@swtsig Sounds great. Do you have anymore information about these projects ?

I agree, I hope they go back to the original proposal or closer to it with some towers. It went from havin 4 towers to none. Houston's economy is doing very well if these large mixed used projects can't get off the ground right now I don't see when they would ever be able to get off the ground.

Yes it's scheduled for demo.

well then you won't like the 45+ story tower they've "proposed" on super block east...

Wow they have proposed a 45 story tower ? Are there any renderings or details about this proposal ?

Here is some recent information about the building.

http://blog.chron.com/primeproperty/2012/09/developer-may-build-office-tower-on-church-land/

Here is a new development in the energy corridor.

http://blog.chron.com/primeproperty/2012/09/developer-launches-energy-corridor-office-project/

Yea these articles mention the three shorter buildings and the extension of Waterway Square south, there is even a rendering of the buildings. They are dated from February of this year so hopefully they will still be built.

http://www.yourhoustonnews.com/woodlands/news/waterway-square-extension-targeted-for/article_f8e287bd-9fde-56d4-b37a-59fdbc5aebd9.html?mode=story

http://www.bizjournals.com/houston/morning_call/2012/02/the-woodlands-considers-developing.html

It is interesting that they decided to build one 600k SF building when they still have other parcels of land to still build on. I wonder why they decided to build such a large building when they could build several smaller sized buildings on their other parcels. Maybe they have a company in mind that is looking for that amount of SF. I also find it interesting that they decided to break ground on their Hughes Landing development before building out their entire Waterway Square development.

No the location of the condo tower is across the water on the other side. It will abutt the waterway square parking garage Close to 3 & 4 waterway square place and be behind a proposed hotel.

In the following link there is a photo that shows the location as number 11.

http://www.thewoodlands-commercial.com/pdf/wwsq_brochure.pdf

Wow so there are two condo high rise proposals along the waterway.

http://impactnews.com/articles/woodlands-development-company-plans-large-scale-town-center-projects

10 Waterway was mentioned in this article:

http://app.newsletter.bisnow.com/e/es.aspx?s=2636&e=9628&elq=b4a6a7105cb4433da3dc32a86f82d594

It says that it is going to be 600k SF I assumed it would be a office building.

Here is a article about how Peter Brown thinks the site should be developed.

http://www.chron.com/business/article/Ex-councilman-Brown-offers-his-ideas-for-key-3797150.php

It's going up next to thier other complex on six pines and timberloch. I passed by the site today and they have started site work.

Wow UH is really getting some nice architecture. These new buildings look more interesting then the majority of new construction taking place in Houston. Other developers need to take note. The insperity center, power plant, optometry building, and dining hall all look great.