HNathoo

Does anyone know what the sales price might be? At $100psf, it would be ~$70m. That would be a lot of money to tie up without a plan, especially for a smaller firm.

This is 1.5 blocks. At $50M, this places the value of the land at $500+psf. I'm pretty shocked they're able to get this type of valuation in a low oil price market.

Depending on land costs, a project like this could exceed $40m

Wow, that looks great!

Where is the H&M?

http://leoncapitalgroup.com/portfolio-items/block-365/

 

Was there an announcement made, or a sign that went up?

Hampton inn / homewood suites

Sorry for the ignorance but what building is going up on the far left of the picture?

There is a lot of prime land in the path of this proposed ROW. The holding cost of that land is pretty high. The developer would be doing himself and his investors a disservice if he were to wait and see what happens with the government - it could be another 10 years before we know what happens. I highly doubt TXDOT will pay anyone their holding costs on waiting for them to make their decision, especially if they choose not to move forward with the current ROW concept. 

That's a pretty fvkd up way of squeezing money out of our state goverment though. I mean, if they start now and force TXDOT to pay more for the land, that just means tax payers will be on the hook for the increased cost.

Edit: or federal government since its a Interstate job

I don't imagine they would stop this project unless they know for sure the new ROW is going to happen, and happen pretty quickly.

As of now, it's still just a concept. If it does happen, they should be reimbursed for the improvements as well.

Wow! But what fkp5 said...

What's the likelihood they buy a nearby property not in the alignment ROW to build on instead? I'm sure they'd get reimbursed for this plot of land for the i45 ROW

Wow - that looks amazing! Hope this thing gets off the ground.

I think they've had a fence up for some time now. Possibly for environmental reasons? That's prime parking for Toyota center events.

Do you know what the asking price is?

Great pics! I don't think there is any amount you could pay me to be one of those guys on top installing that crane.

yeah.. he was saying it was quite a high price, and that people needed to start learning how to develop denser and smarter because of these higher prices.

edit. they definitely paid a premium for Market Square frontage, so that $240 quote was just for their plot, not average downtown prices. but he seemed to be speaking on behalf of the majority of the DLI applicants that it wouldn't of made sense economically and they wouldn't of been able to move forward on their projects without the incentives.

Wow, Camden paid $125psf for their land near the Toyota Center. I'm sure Market Square is a more appealing area, but twice the price seems tough to swallow.

~$240 a sq ft is an insanely high land price, even for downtown, correct? Apparently this, along with many of the other DLI applicants wouldn't of been able to move forward on their projects without the incentives.. Makes me wonder how many more (if any) residential units are coming in the near future now that the DLI is capped out.

Where did you get $240psf? That is a really high price.

Will the threat of freeway expansion stop developers from coming on board? I believe Dan nipp has a multi family project planned within the impacted area.

Great find, Urbannizer. I'd love to see them move forward on this.

Wow - great photo!