nate
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Posts posted by nate
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Am I blind? Does anybody see the pool?
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?
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The building looks nice.
What is the use of the top floor? Tenant amenities or bar/restaurant space? The latter would be really cool.
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"PART of a proposed development?"
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.
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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.
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Cranes going up this weekend.
Yes, sir.
They are putting up the crane at Travis and Dallas right now. It looks to be about 8 stories high so far.
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I wonder when the one on the northeast corner of Westheimer and Post Oak will bite the dust? That is one I would love to see go away.
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.
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What is the scoop on this. I haven't heard a thing since the judgement against the developer. Anyone have an update?
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.
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now i dont think Kirby is going to get a 40-50 story mixed use tower
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.
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How likely now? There will have to be alot of companies pining to get into downtown for this tower to work:
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.
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This site has been closed to public parking, portable toilets installed, and workers on site doing surveying.
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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.
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I had lunch today at Caracol and saw workers on this site doing soils testing.
Progress.
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Well I guess things have changed since then...
"There are no plans to break ground in the near future",
sarah@temadevelopment
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.
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Are you sure this will still break ground sometime this month? Because I've just been told something different.
That's what the TEMA people told me in November. I haven't asked since.
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If space is a constraint for research and for training, it might make sense to swap Briarpark for Camp Strake, but not downtown for Camp Strake.
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.
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If the rumors about Chevron canceling their newly proposed tower and moving way up north are true, then the chances for this baby just got a whole lot better!
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.
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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.
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Back to the subject on hand... What is the status of this project? Still a go? Or has Hines jumped too far in front of this one too?
Yes, now early January.
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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
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Is it consistent? I thought most places in Midtown started at $1000 to $1200. Key word: started.
Not anymore: http://www.apartmentguide.com/neighborhoods/Texas/Houston/Midtown/
The Langley: Residential High-Rise At 1717 Bissonnet St.
in Going Up!
Posted
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