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.

11 minutes ago, clutchcity94 said:

I know this is more of an Ismaili community center and not necessarily an Ismaili place of worship, but as someone familiar with this sect, I will say that Ismaili places of worship are very strict about not letting non-Ismailis in.

 

Again, this doesn’t apply to mosques in general (anyone is welcome in a mosque in Houston, regardless of religion), but to Ismaili/Aga Khani places of worship in particular.

 

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.

1 hour ago, phillip_white said:

Now slated to break ground at the end of January.

Is this stated on their site somewhere?

Here is a former rendering of the project from the original sales flyer:

They got to the one yard line, then dropped the ball.

16 minutes ago, trymahjong said:

Is there a developer out there who could be intelligent enough to see that would be a smart move?

Pretty much every grocery store mixed use development. They make the money on the increased rents the apartment/office tenants pay.

4 hours ago, trymahjong said:

I am worried. Where can 1/2 Price books relocate with in Montrose......all the rent is so expensive. I don’t want to lose that business...I still go in weekly.

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). 

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. 

I can’t imagine this going through. The same group is being foreclosed on their blodgett project. 

6 minutes ago, mls1202 said:

Retrofit vs. tear down and build new...

 

Unlike Sears, I don't see the Fiesta as an historically or architecturally significant structure.  I hope it is more than just a paint job and build-out of the interior.  Also, that parking lot?

With a $10M budget (including 3 years opex), I wouldn't bet on much more than just interior build out.

9 minutes ago, Highrise Tower said:

Building has been demolished.  Did not expect what's coming next.

 

 

 

 

wow, that sucks for us, but a remarkably good storage site - should do very well. 

Wow, that looks awesome. Eado has so much potential with so many of old warehouses begging to be transformed. 

They added a video to the loopnet site:

https://www.loopnet.com/Listing/1800-Binz-St-Houston-TX/17540789/

This is not the eado city view project from Dan Nip (RIP). That site has already been acquired by TXDOT for the freeway expansion. 

On 8/28/2020 at 1:42 PM, nate4l1f3 said:

if all goes to plan will Neils Bahr be affected as well??

Yes. Fortunately, there is plenty of opportunity on the other side of st emmanuel. They'll probably be paid handsomely if they own their site. 

5 hours ago, EastEndHeritage said:

Hi,

 

I heard rumors from a colleague that Kim Son is planning to shutdown the Jefferson location sometime in 2021, apparently due to the highway expansion. Not sure how concrete that information is because to my knowledge the I45/I69 project is not a done deal yet.

I believe that particular segment is already funded, and a few sites have already been purchased by txdot. Sounds legit. 

Here is a recent article on another project the developer is working on in Chicago. They seem equipped to handle the challenge. 
 

https://www.bisnow.com/chicago/news/construction-development/how-a-historic-west-loop-office-tower-became-a-luxury-hotel-105475?utm_source=outbound_pub_13&utm_campaign=outbound_issue_41323&utm_content=outbound_link_6&utm_medium=email

Great location, but with a 50’ width, there are very minimal options for developing anything other than SFR. 

Here is the article. It doesn't mention square feet leased.

https://www.houstonchronicle.com/techburger/article/Chevron-Technology-Ventures-is-the-first-named-15493481.php

3 hours ago, clutchcity94 said:

Who was the previous owner before Skanska bought it?

 It was Madison Marquette (PMRG). They built the Travis high rise in midtown.

43 minutes ago, clutchcity94 said:

So you’re telling me that land is worth $215/sq ft?!

 

😲

 

Shoot! Will Skanska buy my 5,000 ft lot in Montrose from me?! I’ll give them 50% off !! LOL

huge premium for having a full superblock on a hard corner of two major arteries. There really is no

limit to what you can build and the uses that it would attract (retail,office, housing, etc)
 

generally the highest and best land value for a 5k sq ft lot would be 3 townhomes or a single family residence. 

https://www.houstonchronicle.com/news/houston-texas/houston/article/Houston-considers-a-plan-to-make-the-city-more-15459085.php

1 hour ago, HouTXRanger said:

So, I haven't heard anything else on this, but I thought the vote was supposed to be this week. Anyone know when we'll hear if it all got approved? Still confused on how exactly the city council votes and such.

It's expected to be on the 8/5/2020 agenda. Please e-mail the mayor and council members expressing your support.