UtterlyUrban
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Posts posted by UtterlyUrban
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6 minutes ago, Houston19514 said:
And I think the cost estimate is $12 Billion, not 15
Ok, article said $15b.
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For clarity, I want this project to be built. I am a supporter. BUT, at $15b with NO government subsidy, I strain to see how it will be viable. Smarter minds than me may show me wrong.
Question, has there ever been a $15b privately financed (zero taxpayer support) transportation project in the US? I don’t recall anything. Projects this size, it seems to me, are government financed...... for a reason.......
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2 hours ago, Nate99 said:
They would need a heck of a guarantee from some deep pockets to get 3% on any significant fraction of that $15 bn. Airlines can't get that kind of rate on debt that is completely secured by aircraft used as collateral.
I've said it before, I'd love to see the business model here.
I was thinking “tax exempt debt” — the vehicles that sewer treatment works, garbage dumps, etc use to finance as a “public infrastructure” project. I have zero idea if this project qualifies however.
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1 minute ago, Houston19514 said:
Bullet Train ridership is anticipated to ramp up to 5 million journeys by the mid 2020’s, and 10 million journeys by 2050. That’s 30% of the anticipated number of long-distance trips between North Texas and The Greater Houston Metro Area.
Ok, so, if you believe that number, that is 2.5m round trips. Of which, 1.5m of them will pay for INTEREST only (not even principal and certainly not operating expenses). Do notice however that they expect a RAMP to that during likely a 5 year period after they commence operation. It is therefore possible that they will lose Billions in aggregate during that 5 years from when they start taking passengers to the point that they breakeven. That negative cash-flow will mean even more cash needs.
oh, and by 2050, nearly TWO GENERATIONS from now, anyone’s “forecast” is worth exactly zero.
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5 hours ago, gmac said:
I think you meant to say that the high-speed rail folks have made wildly overstated claims that are grossly untrue. Their numbers were pulled out of something rather less savory than a hat.
I get that some of you want a magic train. Problem is, the money is just not there to either build it, or keep it operating, without huge public subsidies.
I am a simple man. Math can be a challenge for me. However.......
$15b to build it. Some of that will be debt and some will be equity. However, if it were all debt, interest rates are rising right now - let’s say that they could get 3%. That’s $450m in interest only per year. Take the average ticket.....say $300 round trip..... that’s 1.5m round trips per year just to pay the interest. Forget about operating costs, etc. That’s only the interest. My numbers are wrong, I am certain , as they will assuredly not finance this 100% debt.. The point is that this project at 15b isn’t going to be simple to finance.
there is a reason why government normally pays for infrastructure projects.... roads, bridges, airports, etc.
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1 hour ago, gmac said:
PR BS. That fantasy train isn't getting off the ground any time soon.
I am saddened by your comment. The reason why I am saddened is that I believe you to be correct.
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Where is this property? East end?
Regardless, if the conversion is done well, this is an epic homerun.........
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How many “homeless” are over there? Answer: perhaps zero — Assuming you define homeless as folks, without addictions, who got laid off from a job, had an unexpected large bill, hit a hard patch, lost their apartment and are struggling to try to get back on their feet.
Now, how many addicts are over there? 100? Shows how few people it takes to mess up an area. I have no sympathy for them. Rather, I sympathize with the homeowners, apartment dwellers, business owners, and bus riders who have to deal with the trouble that these addicts cause. The city MUST do something. Turner will not get my vote unless he acts decisively.
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I would be very upset if I was the property owner and my agent decided to use this photo in the marketing materials. Unless, of course, there is a reason for it that I am not grasping.
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1 hour ago, lockmat said:
This would be a great site for another midrise resi or affordable hotel. Horrible marketing though, doesn't even show new tower across the street.
http://images3.loopnet.com/d2/E6JZTA9AMkPSufuTZFnRYH5D8uZWCZC1TAv2TF5MyUU/document.pdf
Aren’t there two new towers across the street? Skyhouse 1 and 2?
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This will be a good project. Hopefully, they tastefully merge the old and new (perhaps like the JW on main?) to create something entirely lovely. I’m rooting for them.
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19 hours ago, Elseed said:
Anyone know what the land is gonna be used for next? Condos, townhomes, building...
Whatever will be built there, if the city allows the first floor or any of the parking or other infrastructure to be a thing less and 20’ above grade, the City should be held to task.
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I too am confused. From the renderings, I thought this was a demo and new build. What is going on here?
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It would seem to me that a downtown, urban, Target would have explosive sales. I just don’t understand why one isn’t already here.
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what is the goal of this plaza and how does its goal foster the goal of a lending library?
there are places that exist today for parents to bring kids to be exposed to the arts and reading. Discovery Green is one of those places. It seems to me that the goal of a lending library system should be to help kids understand research and reading. Will seein performances, including the depicted music performances do that?
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Not to be greedy, but, wouldn’t having another land bridge over the road on the eastern end of the park make sense?
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14 hours ago, wilcal said:
I'm assuming this was in connection with Le Meridien?
Wow!
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Houston has trouble wrapping its collective mind around preservation, IMO.
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3 minutes ago, invisibletrees said:
Make it our next building implosion.
Even that would be preferable, in my opinion, to what exists there now.
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It’s only good news if it sells to a new owner who has immediate plans to do something with this property.
Hopefully, a new owner with vision can make it into something great.
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It is my hope that over the next quarter century the two linking into one skyline. Dense residential and commercial buildings providing the connective tissues and multiple non-car transportation options providing the circulatory system.
there are many obsticals to overcome but, it can be done if we elect several generations of leaders with this shared vision.
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It very exciting that they interior contains “leather, fabric, metal, and wood”. Fascinating and soooooooo very much different than any other interior ever done that it is worth actually writing about.....
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3 hours ago, bobruss said:
This happened just after the Martin Luther King assassination, in response to the rioting that occurred in many cities across the country.
They were worried about their large plate glass windows being broken out.
This area wasn't a high crime area. As a matter of fact there was a very popular movie theater on the corner of Main and Richmond called the Delman theater.
The midtown area was a bohemian area and the first alley theater was down in this area. I used to go with my dad to a music store on Caroline not far from Sears where he would buy cymbals and drumsticks. There was a very popular jewelry store just south of Sears and they had Paul Bosch do advertising for them. It was quite a busy part of town back in the late 50's early sixties. My family was living in an old duplex on Montrose just south of Alabama.
Much of your post is likely true. One point of minor clarification though......(assuming I interpreted your post correctly).... the “race riots” around the country were occurring before the assignation of MLK take one of the most notable: Newark. It happens a year before MLK was killed, as I recall.
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1 hour ago, IronTiger said:
In a historical sense, the highways DID bypass the core. The reason why I-45 is always bad because of the sharp curves in the road, and those were there to AVOID THE CBD. Interstate 10 went clear on the other side of the railroad while US-59 also avoided the core. With the exception of Boston's defunct Central Artery (which pre-dated the Interstate system), the Interstates were largely designed to go AROUND the downtown area. Anyone telling you otherwise either has no idea about history or is trying to push an agenda (usually both). Don't believe me? Fire up Google Earth (I think there's still a desktop version if you don't already have it), go back to 1944 when the freeways didn't exist (but leave the roads layer on) and tell me what you see.
As with everything, it all depends on how either side of the discussion defines the word “ around”.
Those who were PRO highway described a freeway that cut between established neighborhoods and downtown as “ going around”.....
those who were CON highway described the same freeway as going through the core.
Both are correct.
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Texas Central Project
in Transit
Posted
This is an excellent point. I was unaware of this and, you may be correct.
I just read the Texas Central website again. They specifically say that they will:
“not seek grants from the US Government or the State of Texas, nor any operational subsidy once operation begins. The project will be financed with a blend of debt and equity.”
if one thinks of those words closely, it absolutely leaves open the idea that they WILL take government money — just from another government other than the two listed.
I also find the word “grant” interesting. A “grant” is not a “loan”. So, I assume that they would take, should one become available, a “low interest loan” from Texas or the Feds? The word “seek” is also interesting. If they truly do not intend to take government money, why not just say “we will not accept any money from the State of Texas or the US government for construction or operations......”
anyway, I hope that it does get financed, built, and becomes operational, quickly.