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HNathoo

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Everything posted by HNathoo

  1. HNathoo
    I believe that’s a mock up of the garage facade. There are some pics within this thread a few pages back.
  2. HNathoo
    having a private park the size of a city block is a pretty impressive amenity inside the loop.
  3. HNathoo
    They didn’t have a set asking price, but were guiding to ~$170psf.
  4. HNathoo
    Back on the market with new broker. Asking $150psf.
  5. HNathoo
    demo permits are weird. I believe they just go off the same ownerership as the last person to pull a permit.
  6. HNathoo
    Wow! Really cool to see this side of downtown get some attention.
  7. 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.
  8. HNathoo
    It seems the original purchase price was subsidized by a government program (or possibly a subsidized loan program with below market rates and/or equity requirements). it would defeat the purpose of these programs if one were to qualify for this and then immediately flip it to a market rate buyer. in any event, I’m sure the buyer knew this when they signed up for it.
  9. 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.
  10. HNathoo
  11. HNathoo
    I believe the prayer hall will probably be private, but otherwise it should be pretty open to the public similar to the Toronto center. https://the.ismaili/ismailicentres/toronto/visiting-toronto The decision makers behind this project have been pretty tight lipped on this since they acquired the site. I'm a member, but doubt I'll hear about ground-breaking prior to the general public.
  12. HNathoo
    Is this stated on their site somewhere?
  13. HNathoo
    Here is a former rendering of the project from the original sales flyer:
  14. HNathoo
    They got to the one yard line, then dropped the ball.
  15. HNathoo
    Pretty much every grocery store mixed use development. They make the money on the increased rents the apartment/office tenants pay.
  16. HNathoo
    They generate foot traffic. A smart developer would include them in their mixed use development, possibly losing money on the lease itself, but gaining a valuable tenant in the overall development (increasing the rents overall).
  17. HNathoo
    I wish I understood gas station economics better. I heard someone is developing a site at the corner of 45 and W Dallas. I don’t know how that land underwrites for c stores, but don’t imagine they would develop such a high value site without understanding c stores well.
  18. HNathoo
    New store will have an Einstein bagels inside https://www.houstonchronicle.com/business/bizfeed/article/Einstein-Bros-Bagels-picks-Houston-for-debut-15605925.php
  19. HNathoo
    I can’t imagine this going through. The same group is being foreclosed on their blodgett project.
  20. HNathoo
    If it’s still the kingfuels guys, it’s probably just a raze and rebuild.
  21. HNathoo
    With a $10M budget (including 3 years opex), I wouldn't bet on much more than just interior build out.
  22. HNathoo
    Pretty cool to see all these mid-rises develop surrounding the park. The 3rd ward is definitely going to start looking different.
  23. HNathoo
    it’s a terrible use, but you can’t have a vacant property inside the loop for very long before it becomes a homeless colony. The more you board up a property, the more inviting it becomes. Almost always better to knock it down and at least extract some value while waiting to develop. Additionally, it creates downward pressure on parking revenue for adjacent owners, making the attractiveness of them holding forever less appealing.
  24. HNathoo
    wow, that sucks for us, but a remarkably good storage site - should do very well.
  25. HNathoo
    Wow, that looks awesome. Eado has so much potential with so many of old warehouses begging to be transformed.
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