HNathoo

I’ve heard this is an apartment deal. I believe it might be the Morgan group. 

Not that I can share on a public forum. 

5 hours ago, Avossos said:

 

Are you being serious?

Afraid so. I imagine eventually chevron will build on this site, just not anytime soon. 

It’s getting more difficult to find full city blocks inside the loop for less than $100psf. 

In some areas, it’s no longer a question of price, it’s more about availability. Where do you get the land to build in a prime area? 

Developers need to build up to amortize the higher land cost and lack of full city blocks available. 

This is being razed for a new 6 story storage facility

This is being razed to be a surface parking lot. Apparently chevron got tired of being a landlord for a class C building. More headache than it was worth. 

21 minutes ago, thedistrict84 said:

 

I really hope it’s not a strip mall. That would be very disappointing. But, glad it will be getting developed instead of sitting vacant as it has forever.

 

I’ve always been curious as to why this lot is shaped the way it is. There are a few other lots in this area of EaDo with similar angles. I assume it was originally utility easements or railroad R.O.W. from many decades ago, which were eventually extinguished or joined back with the original lot.

Retail strip can't pay what this will likely trade for. The rents aren't high enough on this side of town. Unless they are an owner/user, it has to go vertical.

Maybe the silver lining is that the dealerships will start building vertical, freeing up many blocks of prime real estate in midtown for development.

I don't think these guys paid what they (probably $100+psf) to build a surface lot.

Seems like a pretty good multi-family site. I don't know what flag would allow you to build a hotel over here - just isn't enough going on in the area yet.

The land west of Dowling is starting to get very pricey. Ancorian has been buying up everything around their East Village development. I think we'll start seeing $100psf+ very soon.

This location should have some nice views

On 2/25/2018 at 11:09 AM, CREguy13 said:

To add on to this, unfortunately I have heard this may be U-Haul just tearing down their existing building to build a new facility.  As @swtsig mentioned, I would not get too excited on this.

Any renderings or permits pulled yet? 

Wow - that complex didn't seem very dated. I imagine they'll build something pretty significant here to justify the loss of those units.

Is this a townhome or a single family lot? 

If you own a single family lot, I don't think it's going to go down in value (at least for an extended period of time). With lots, I would look at much more than cap-rate - the underlying real estate is also appreciating in value. I would rather pay a 5% cap rate for a property sitting on a large lot than get a 7% cap on a townhome. 

If it's a townhome, you have to consider what you plan on doing with the money. If you have other opportunities to put the capital to work that are more accretive than you currently have, the decision to sell is easier. Paying down a mortgage at 3% doesn't really make sense if you have an asset yielding more than that.

8 minutes ago, Avossos said:

I will chain myself to this beauty before I let this get torn down willingly...

 

I learned my lesson with that crappy hotel by the Alley Theater... It got some of it's due justice... being flooded... Although the family who ran it and sold it may not have been affected. I don't know how they can sleep at night.

I imagine they sleep just fine on their mattresses filled with money.

12 minutes ago, Houston19514 said:

New Tom Thumb Express, downtown Dallas:

Is that actually in downtown Dallas? I don't see any buildings in the background.

2 hours ago, Diaspora said:

Rant away,  I live and walk these streets and still want an activated pedestrian realm. The thing is, as you rant, recognize that nothing stays constant. The Greyhound station departure is imminent,  Pour Behavior has broken ground, Surge homes is selling briskly, deep pockets are getting behind a refashioning of a decommissioned Pierce linear,  and every developer recognizes the potential in the NE quadrant of Midtown. So why settle for a fortress?

 Is the Greyhound departure imminent? I have no clue if they own the site or are leasing, but them leaving would be fantastic for the area.

5 hours ago, MarathonMan said:

Only one block is fenced off.  I’d say the other will lie vacant.

I imagine they would build the wrap first.

4 hours ago, Triton said:

There are two blocks here right? So this multi-family complex is taking one and a parking garage is taking the other? Or do we have two multi-family complexes here?

I imagine this will be like the Circuit in Eado - one building will probably be a wrap, and the other will have the pool on the inside. They'll probably be connected via skybridge.

3 hours ago, mattyt36 said:

That article from 2000 quoted prices around $50/sq ft. Have prices grown by that much since then?

Yeah, I think prices inside the loop have jumped multiples since 2000. The downtown living initiative really drove a lot of that.

Hines paid ~$500psf for their new tower site. While that site has tunnel connectivity, I don't think the lots in front of Toyota Center are significantly worse. Maybe $200-$300psf?

8 hours ago, nate4l1f3 said:

Would love to hear more on this

Ask and you shall receive 

https://www.wsj.com/articles/SB974263917263844039

4 hours ago, Naviguessor said:

This is the area that ya gotta know that Tilman has an eye on...to bring more energy, life, fun and money to Toyota Center and his Rockets.  I can see him developing a multi-use entertainment district here...and surely another hotel.  I even see him integrating Toyota Center into it in some way.   However, I have no idea who controls these properties.  Still...they are ripe for something.  

Most of these lots are controlled by a Taiwanese Oil Company. They simply don't sell - I believe the Toyota Center land was owned by them and taken via eminent domain.

The speed of their development has been amazing, especially given how slow some of the adjacent concepts have taken to open up (Truck yard, Rodeo Goat, Burgerhous, etc.)

48 minutes ago, SurgeHomes said:

We’ve experienced much success in Houston by collaborating with residents and future homebuyers to plan our communities in an interactive manner. Today, we want to push our plan one step further and ask for your comments on a draft rendering that normally would never be shown publicly but one which we use in-house with our architect to apply different materials and colors to determine the final exterior design. Of course, the attached rendering is plain and does not show landscaping or a beautiful finish and therefore builders don’t normally reveal this work-in-progress to the public. Since members of this forum have proven to be very generous in providing us with insightful comments, we’d like to ask for your recommendations for the exterior envelope and we’ll propose colored renderings. Please keep affordability in mind when making your suggestions because this is what helps our buyers become owners. We previously addressed, in this thread, that the rendering in the first post was just a draft and will change. Attached is a new, never-before-released, rendering of the exterior architecture of the building and we’d like your opinion on materials and colors. We want this condominium development, Hampton Heights, to contribute to the landscape of the Greater Heights and we welcome and value your collaboration in our effort to achieve this goal.

I’m not a big fan of the stairwell design. I wish it was more integrated into the building. Also the pitched roof over the stairwells are very Hamilton-ish - think your better with a flat roof with some sort of metal canopy architectural element. 

on a side note - always wondered why most apartments have balconies? I may represent the minority, but I would much rather have that space for a living area. 

They closed a location on bay area

blvd in clear lake after about 3 months of operations. I can’t imagine spending $1m plus on a restaurant and not even giving yourself a chance.