UtterlyUrban

True. I have also seen predictions of $30 oil and $70 oil by 2016. Bottom line: nobody knows. Real easte Developers need to simply make and educated guess like everyone else. We shall see who bets on $80 oil in two years and who does not based on what projects start over then next six months and which do not.

For Heavan's sake! Hospitality has much to do with energy prices in sectors of this town. While it is true that downtown has a bit of a cushion from conventions, I would suggest that much of the "core" hotel bookings downtown are related to "business" people..., lawyers, sales, PR, consultants, and company employees from other offices, I would further suggest that many of those folks are related to energy companies (downtown). If those same companies need to cutback due to the price of oil, descetionary travel if one of the first things cut. With the decline in oil pricing, if it stays at this level for a protracted time, I would expect that hotel bookings downtown from "core" business people, will fall. How much they will fall is open for debate but if oil stays in the 50's or lower for a year or two, the folks traveling in on business with all the entertainment money for dinners and booze, will shrink. IMO downtown Houston is not yet a tourist or convention market, it is a business market and is subject to the whim of the local economy. Perhaps one day, conventions and tourism will dominate downtown. But, for Now, I think that the business cycle is what drives core profits at downtown hotels.

Good point. But, I can say from personal experience that finding a hotel room in downtown Houston has been easy for the last 20 years. BUT, over the last 5 years, it has been more challenging. There are weeks that Houston is simply out of rooms anywhere near downtown. I know that houston has done a terrific job of attracting convention business and that business does provide a steady flow of room bookings. But, let's face it, energy-related business bookings provides the core, no?

A good mayor. A good citizen. RIP, Sir. Thank you.

With $54 oil, I would assume that every developer in town is looking much harder at every planned project that they have and is trying to cypher what the demand for the project will be in two years.I would like this hotel to be built but, what does hotel demand in downtown look like in two years (after the two weeks of the Super Bowl)? The answer to that will be significantly dictated by where one thinks energy prices are going.

Yes, it has been a good year. Fortunately, oils only started its fall in the last few months. It's too early for the slide to really impact jobs. It could take a year or more before that happens. If oil falls further and stays there for a protracted time, that is when there will be big problems locally.

Actually, you are not. Current site or not, having a big central retail post office location is something I will miss too.

If supply was only out of demand balance by 3%, why would the price fall by 40%? The issue here seems to be Nigerian oil and Asia markets. A very insightful article appeared in the WSJ last Saturday. There was a big surplus in oil (low demand globally). It also spoke of Nigerian oil and how it's "natural market" in the US was closed due to fracking and US domestic production --- no need for us to buy it. So, Nigeria went to Asia and the Saudis freaked out. They did not wish to lose market share in Asia. Then, add the fact that the U.S. producers received permission to export crude from the administration (something prohibited since the 1970's apparently) and the Saudis would take no more..... Good article.

I am skeptical that a tweet and other news are linked but, I guess it could be. Here is what I believe: An upscale dry goods retail chain is coming to downtown again. I have no idea who, what, or when. But, with affluent population growth in DT, mid-town, and EaDo, coupled with 100,000 office commuters, a "smaller scale, urban concept" store by one or several retail chains could make a splash and be profitable.

I wish you well. But, the boom/bust cycle has been going on in the oil patch since it was founded. Nothing new here. Hopefully, oil will not fall further and there will be only a limited number of projects cancelled. That would certainly be a good (and quite possible) outcome.

A recent article in the WSJ referenced the "collapse" of oil and suggests that at least one source is predicting $50 oil. It is an insightful article about the global demand for oil and market share. It was in Saturday's WSJ. A sustained period of profitable oil development in North America has created this boom in Houston. If it happens, A sustained period of $50-ish dollar oil will, indeed, cause a big problem the local economy here in Houston.

Sounds fairly priced at $500. It would be kinda cool if the new owners, moments before the wrecking ball swings, would curate the mosaic and incorporate it into the new building they probably intend to build at some point in the future.

That is good to hear.

There is no central air either, right?

Agreed. "Bar scenes" tend to move in trends. What is needed downtown is not "trendy" bars but rather some establishments that have more staying power like, say, hearsay or maybe honeymoon cafe. Bars open and close..... "Neighborhood pubs" have more staying power.

Not really. It's the super-sized single beers and smokes available for purchase in the store that attracts them.

Here is my prediction: If oil drops below $55 for 6 months or more residential real estate will drop by 20%.

THAT is the only thing that makes sense to me. Montown

Oh, for heavens sake! What on earth will the church do with it an, exactly how will they restore it and maintain it? "Hey, we got all this money to build a cultural center! But the historic foley house won't fit! Whadda we gonna do?" "I know! give it to the church's to stick behind their building.... Ya.... That's it! Great place for it..... Great place...."

It may be the dismantling.

It would be pretty ironic if they built this cultural center then ended up bulldozing the foley house.

As has been pointed out, a new "plywood, painted black, construction wall" was erected in front of this building a few weeks ago. As I walked by today, the Plywood door was open as was the actual building door. There was some kind of construction (or destruction) activity going on inside. Could not see anything except miscellaneous tools and carts and shop lights, but could hear the work going on. Just saying..... Something is up.....

THANK YOU! Fascinating!

The needle is millimeters away from the balloon that is Houston.

So, I went to the website. The white piping on Marlowe's lapel and jacket collar makes him look like a waiter. So, I guess smart waiters will be buying here. Good to know.