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nate

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  1. nate
    LOTS of legal work (see attached). It also appears that there was a hearing on entering a judgement on 3/31, but doesn't say what's going on since. Cause 201326155 - Docs.pdf
  2. nate
    Enclosed in glass on the top level facing Dallas St. Would be cool if those glass panels could open on a nice day. Where is the parking going to be? It doesn't appear to be enclosed within the hotel tower and while no off-street parking is required downtown, it would be insane not to secure sufficient parking for this hotel. Is the GreenStreet garage sufficient? Even when NRG office workers are using it?
  3. nate
    The building looks nice. What is the use of the top floor? Tenant amenities or bar/restaurant space? The latter would be really cool.
  4. nate
    Interestingly, there was a drilling crew out this morning on the land between the new tower and The Parklane. This suggests that the land between the towers could either be: (i) developed, (ii) sold, or (iii) financed soon.
  5. nate
    The base looks beautiful.
  6. nate
    Fence going up on the site this morning along San Jacinto and Southmore. I don't know if the residential leases are expired yet, but would assume they could take down the eyelash institute building first.
  7. nate
    Breaks ground this summer. http://www.houstonchronicle.com/business/real-estate/article/Office-tower-adds-to-Houston-s-downtown-boom-5272687.php#/0
  8. nate
    Yes, sir. They are putting up the crane at Travis and Dallas right now. It looks to be about 8 stories high so far.
  9. nate
    My understanding is that all of the existing leases in that center expire by approximately 2020, so not until then unless they can somehow buy out or terminate all the leases.
  10. nate
    There is no news. The court has not yet ruled on the plaintiff's motion for a permanent injunction. Whatever the ruling is, expect an appeal.
  11. nate
    Why not? In my view, this is probably one of the best locations for a mixed used tower and the lack of large tracts of available land make a tall building more likely. There is a large retail market on Kirby, a large market for high rise residential, and a low office vacant rate with high rents. Makes sense to me.
  12. nate
    That probably doesn't change much. My recollection from when they renewed is that Shell has the option past a certain date in the future to lease additional space in Two Shell. This would mean than any leases past that date would have to be subject to Shell's rights and could be terminated if Shell exercises its option. That makes the Two Shell space much less attractive to a tenant looking for a major block, but would keep the building leasable to smaller tenants on shorter term leases.
  13. nate
    This site has been closed to public parking, portable toilets installed, and workers on site doing surveying.
  14. nate
    There is now a Harvey Builders sign on the fence at Dallas and Travis. This means that site control has likely transitioned from Cherry (demolition) to Harvey (construction), so I'd wager that you should start seeing work on the tower soon.
  15. nate
    I had lunch today at Caracol and saw workers on this site doing soils testing. Progress.
  16. nate
    That's pretty cryptic, but does suggest it won't be January. Everyone needs to relax a bit. Things get delayed for all sorts of reasons. This doesn't mean the project is dead.
  17. nate
    That's what the TEMA people told me in November. I haven't asked since.
  18. nate
    This was easy to find on HCAD. The address is 4 Chelsea, Houston, Tx 77006.
  19. nate
    This. Settle down, people. Chevron has a need for space outside of downtown, so there is no reason at all to be surprised that they may be looking at Camp Strake and should not be seen as a sign that they are going to divest of the ~$1bn worth of downtown real estate that they already own.
  20. nate
    Why on earth would you think that? If Chevron did move out of downtown, 1400 Smith and 1500 Louisiana would be vacated and add ~2,000,000 square feet of vacant space to the market. Pretty sure that would be bad for the Stream/Essex building. In any event, I think it is highly, highly unlikely that Chevron leaves downtown.
  21. nate
    Keep in mind that this win for 20 of the 30 Plaintiffs does not mean that the Project will not get built, even if it is upheld on appeal. Judge Wilson will hold a separate hearing on whether or not to permanently enjoin the Project. If there is no injunction issued, the Project could go forward with the payment of damages that were determined by the jury today. Attached is the Charge of the Court with the jury's findings. 58775292.PDF
  22. nate
    Yes, now early January.
  23. nate
    Galleria Plaza? http://blog.chron.com/primeproperty/2013/03/galleria-area-complex-changes-hands/
  24. nate
    From HBJ (subscription required), cool statistics, charts, and graphs about Downtown rents and available space: http://www.bizjournals.com/houston/print-edition/2013/11/01/downtown-sees-big-gains-in-occupancy.html?iana=ind_cre
  25. nate
    Not anymore: http://www.apartmentguide.com/neighborhoods/Texas/Houston/Midtown/
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