ClutchCity

Yea the Fox coverage alluded to retail and even some residential for the site. It's my understanding that Hilcorp got some tax incentives to include retail in their project to help anchor that retail district they want to make downtown. Doesn't seem like they could fit residential in it if it is only 23 stories though.

You'd think this news would be in the developers favor.

http://blog.chron.com/primeproperty/2013/09/home-prices-near-ashby-high-rise-skyrocket/

Too many spec proposals for DT and not enough tenants it seems. I hope this doesn't get built at the cost of losing 609 Main or the Steam building.

You seem to be right, because after adding up all the none owner-occupied office buildings proposed it comes out to quite a bit of space:

800 Bell Redevelopment - 1.3 Mil

609 Main - 1 Mil

5 Allen Center - 1 Mil

International Tower ~ 750k

Capitol Tower - 700k

6 Houston Center - 600k

Since 800 Bell, 609 Main, and 6 Houston Center all looking like they will move forward quickly, that makes for almost 3 mil sf of new space. I'm only guessing that doesn't bode well for International Tower, let alone 5 AC. I agree with Urbannizer that Skanska seems to be moving forward with Capitol Tower ,which could make for 3.6 mil sf under construction in the next couple years, but they sure are dragging their feet. Maybe has something to do with competition downtown and their Galleria tower leasing up slowly?

Maybe they are selling it? It says, "The Downtown Houston Icon Available 01/01/2014" in this weeks HBJ.

Think it could have anything to do with the crown? Maybe to show it would have the height of a 46 story building and make Hines' apartment tower look shorter in comparison. Would make their apartment tower look shorter because without it(and the apartment tower now proposed on Block 35) it would be the tallest building for a couple blocks around the park. If not it seems like the floor count of a proposed tower changes every other week.

Here's another article by bisnow that briefly mentions the Marriot Marquis and that, "Preconstruction will last into 2014; look for groundbreaking in Q4 and a 26-month build schedule." Does that mean they will break ground this year but the Q1 construction start that has been previously mentioned is for vertical construction?

http://www.bisnow.com/commercial-real-estate/houston/the-deal-sheet-hou-091013/

Looks like they have started working on the parking garage too.

 

I'm still wondering how 609 Main will connect to the tunnels, if at all.

From what this article said,"...The building will contain ground-floor retail space and be connected to downtown’s tunnel system through the BG Group Place building and eventually to another high-rise planned to the north of the property." I can only presume the building to the north would be this one. Is it odd that Hines would go through the new Texaco building after it's renovated to connect one of their buildings to the tunnel system? Hines is so tricky.

http://blog.chron.com/primeproperty/2013/08/old-texaco-building-getting-a-new-life/#comments

Skanska said earlier that they see a lot of opportunity on the south end of downtown and anticipate developing an office tower on this site at some point.

Some point seems at least 5-10 years down the road! It would be nice if they considered a residential highrise to help create a southern residential core around the lightrail.

Not yet, Isn't the Hine's residential tower suppose to be connected to it?

The Texaco building renovations are going to be linked to the tunnels so 609 Main can get its connection is my understanding.

With the residential incentive ending in 2016 there should be at least 2500 units added or under construction by then. Hopefully that means we get some pretty interesting towers! So the residential part of downtown will be be vastly different. It is yet to be seen if it can get it's mojo back to attract office tenants to a shiny 40+ story tower instead of a cheaper building in the burbs.

So they do have a "brochure" to shop this building around to interested companies... That's good to know.

And they've done a good job of keeping if under wraps seeing as it looks like the 50 story tower we were hearing about in December when Hines' was 48 also.

Old rendering?

I agree. I understand it is a little to do with the perspective but I doubt it will dwarf the Chase tower like that...

Is this going to be connected to the tunnels? It'd be cool to get more retail that was at street level and in the tunnels. I agree that it would look good with some restaurants and other retail in two above ground stories so they can have balconies overlooking the park but that doesn't seem to be in the cards for this one.

Was driving down Travis this morning and noticed someone surveying the surface parking lot that takes up the other half of the Savoy's block. Anyone have an idea it's for? Why would they need to survey the whole block for renovations on the already existing building?

Let's pump the breaks

Breaks or brakes? :]

Oh jeez it's today!

Some confusing but interesting information I found regarding Hines' new tower. They both seem to indicate that it for sure is going forward in early 2014 with PM Realty's report even going as far as to say they were going to go spec. Bisnow's information is confusing because if says, "But the CBD has been stable for the last 15 years. In that time, only four multitenant office towers were built in the submarket, and now there are none under construction and only two slated to break ground before year-end 2014. And those are already 60% pre-committed; Hines' 800k SF tower at 609 Main doesn't have a tenant yet, but Chevron's 50-story tower is owner-occupied." Since Chevron's building is owner-occupied why would they bring it up since it is not multitenant? Even if it was with some quick math, dividing Chevron's 1.7 mil sq ft of occupied space by the 2.5 mil sq ft between the 2 buildings it comes out to 68% occupancy. Unless of course they are only occupying 1.5 mil and renting out another 200k of space for amenities. There's no other way the numbers would add up because it would take both Skanska and Linbeck's projects to be fully occupied to even out Hines since its presumed spec.

http://www.bisnow.com/commercial-real-estate/houston/is-downtown-a-gateway-market/

http://downtownhouston.org/site_media/uploads/attachments/2013-08-14/2013-2Q_-_PMRG_Market_at_a_Glance.pdf

Repost....

you shouldn't be surprised at all.

Chevrons even newer tower housing their yet to be announce headquarters relocation? heh, i wish. i wonder what is being planned there though. Chevron currently owns the land i thought? dont they have a day care on that site?

Since your last two questions are correct I wouldn't be surprised if your first statement is true. Makes sense with what's been happening with their parking garage acquisitions. I hope it brings some more pull to downtown when it comes to corporate relocations/consolidations!

The rendering above makes it look like the retail will be on the North side of the parking structure, in which case it will face another new apartment building:

http://www.houstonarchitecture.com/haif/topic/28307-alliance-downtown-5-stories-207-units/

http://www.houstonchronicle.com/business/real-estate/article/Houston-s-apartment-boom-focuses-on-urban-scene-4619878.php?t=445cfc44ffb05374ef

 

I didn't think about that even though I knew that Alliance was putting up those apartments on the adjacent block. I wonder if that was planned!

I would say even Chevron's tower is better than this one. Sure Midland's tower is taller, but it's just as boxy as Chevron's if not more(Chevron has that groove on the north side  ). Another thing is location, Chevron's tower is probably going to be the third tallest tower downtown, with very large floor-plates since its 1.7 mil in 50 stories, which I feel will help weigh down the skyline in the south, when looking from the West (if that makes any sense whatsoever). Their's is just the tallest tower they could slap down in Midland because even a 30 story tower would make a huge mark on the skyline. Nothing to be envious of. 

Sum Ting Wong?

http://swamplot.com/where-youll-see-the-new-42-story-highrise-on-hermann-dr/2013-08-09/

Another 40+ story tower for Houston? And this one is supposed to having a twisting facade?! Great time to be in Houston!