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HNathoo

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Everything posted by HNathoo

  1. HNathoo
    I’ve heard they wanted to buy, not rent, and want to buy for $.50 on the dollar. Not much you can do to satisfy unrealistic expectations. Maybe they eventually give in and rent - there are plenty of locations with mom & pop landlords that can’t give the TI packages that result in crazy high rent amounts.
  2. HNathoo
    This was under contract with a high rise developer but has since fallen out of contract. I don’t imagine the copper will be in that building for too long.
  3. HNathoo
    Let's go!!!
  4. HNathoo
    This thing is starting to have a great presence in the neighborhood. I can’t wait to see some of the other announced projects in the area break ground - very exciting times for museum park!
  5. HNathoo
    Yes.
  6. HNathoo
    I would doubt this stays closed for more than a few weeks. No lender would allow for that to happen - need to protect their collateral.
  7. HNathoo
    Here is some info from the TIRZ regarding this project: The Southern Downtown Park is a 2021 capital improvement project of the Downtown Redevelopment Authority. Bidding documents are currently out to contractors, with bids due January 25th. If all goes well, we will seek board approval on February 9th to enter agreement with contractor who provides the best proposal, with an estimated one-year construction schedule to commence in early March / final completion in early April 2022
  8. HNathoo
    I think we'll be hearing a pretty big announcement for the downtown market towards the end of this month or early next month.
  9. HNathoo
    I don’t think capital markets are open to high rise apartment construction in Houston right now. Maybe they’ll go for historic tax credits and remodel the church into a high end restaurant or event venue?
  10. HNathoo
    Don’t think straight retail would pencil out given the land prices over here.
  11. HNathoo
    Looks like an entity tied to Levcor (address 7800 Washington Ave - suite 800) has purchased the old church at 4910 Montrose.
  12. HNathoo
    Loving the density in those few blocks. Hopefully, we'll see some more development in the area. Looks like the church at 4910 Montrose recently sold. Probably more to come in the immediate area. https://www.mltproperties.com/for-sale
  13. HNathoo
    I think this probably allows them to sell to a developer in the future. The non-profit will get a lot less heat for this than someone like Hanover would. I actually see it as a positive in that if/when this is sold, we’re likely to see something dense here.
  14. HNathoo
    Levcor has been active in the area. They just purchased 7620 Washington Ave a few weeks ago.
  15. HNathoo
    https://www.instagram.com/p/CIrALOcFZDX/?igshid=13vjx6skf5nqp
  16. HNathoo
    So TMC is really just a giant parking company?
  17. HNathoo
    We’ve got lighting!
  18. HNathoo
    I believe that’s a mock up of the garage facade. There are some pics within this thread a few pages back.
  19. HNathoo
    having a private park the size of a city block is a pretty impressive amenity inside the loop.
  20. HNathoo
    They didn’t have a set asking price, but were guiding to ~$170psf.
  21. HNathoo
    Back on the market with new broker. Asking $150psf.
  22. HNathoo
    demo permits are weird. I believe they just go off the same ownerership as the last person to pull a permit.
  23. HNathoo
    Wow! Really cool to see this side of downtown get some attention.
  24. HNathoo
    This is unfortunate, but not really Lovett's fault. Alliance is a pretty solid developer, but equity for urban MF in Houston has dried up. Anyone who isn't already capitalized will be waiting for a while until investor demand comes back.
  25. HNathoo
    Apparently bids came in above budget. Looks like the ground breaking will be delayed: http://www.downtowndistrict.org/static/media/uploads/Board Books/201008_hdmd_board_materials.pdf Southern Downtown Park: Following public advertisement (July 16-30, 2020) for contractor procurement, two valid proposals were submitted on August 20, 2020 per the competitive sealed proposal method. A 5-member evaluation panel reviewed both proposals. Based on the evaluation process, staff presented its recommendation for the preferred general contractor to the Authority’s Capital Projects Committee (CPC) on September 3, 2020, which subsequently directed staff and consultants to initiate a value engineering process with the contractor, as both proposals received exceed the project’s budget. Staff and the preferred contractor were not able to achieve sufficient savings during the VE process. Upon advisement from the CPC, the Authority intends to re-bid the project later in 2020 which results in the project construction and final delivery being postponed, likely during 1Q 2021 but the specific project timeline has not been finalized as of this memo.
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