firstngoal

Yes, ChevronTexaco occupies all of the former "new" Enron Building. I suggest referring to it as the new ChevronTexaco Bulding now and put Enron in the rearview mirror. I'm glad you mentioned this though, because, in fact, I would contend that the occupancy level is in fact significantly higher downtown. Included in the vacancy totals is the "old" Enron Building... which, even if you wanted to lease space in it, you couldn't. The owner died in a plane crash a few months ago and the whole thing is a mess (managment issues, parking problems, etc..). That is 1.1 million square feet of empty space - that frankly should not be included in total inventory right now. ChevronTexaco took space in the Continental Center because they were out of space, and with the recent acquisition of Unocal, needed a good chunk of space for their newest employees (who are moving downtown).

"It sucks. Robert Stern, I thougth you were better than that..." Actually, he is better than that. He designed the Hobby Center... but Houston's own Morris Architects designed the parking garage for the Hobby Center (which is such a blight on the bayou and also mars the skyline from I-45). We don't have to go far to address our disappointment. Shame on Morris... and shame on the Hobby Center directors who approved this travesty. The Buffalo Bayou Partnership tried desperately to demand a better garage design... but unfortunately it fell upon deaf ears. It really is too bad their isn't a design review committee in Houston (if only for downtown, to start with). I always park under Tranquility Park while attending the Hobby Center... and would encourage everyone NOT to use the Hobby Center garage. I would love to see that eyesore unprofitable - and ultimately leveled... and the promenade along Buffalo Bayou expanded. One can only hope....

They still have a way to go... with the exception of a couple of new restaurants, the Joseph A. Bank. and the gym, the in-line mall space is still really tired. There was tweaking of the exterior... but essentially it is like putting make-up on a pig. I'd call it a major renovation when the entire retail area is updated and modified... I'm hoping the Pavilions and the new retail in the Park Tower puts more pressure on Crescent to take the renovations to the next level...

I think that is actually one of the strengths of this site. There are views on both "sides" of the building. It appears that the buildings configuration will allow for great views of the new downtown park and Houston's sports venues on one side, and of the incredibly dense skyline of downtown on the other. Most of the buildings western facade / units will rise above Houston Center (the Park Shops), which allows for striking views of downtown's western flank (the towers along Louisiana and Smith), as well as the McKinney and Lamar corridors... I really don't think there is a "back" of the building. Finger, as usual, has nailed it with this one. Of all the new high-rise residential projects that have gone up in recent years, the Museum Tower has by far the best performance level (rent, occupancy, lack of tenant rollover). The Finger Cos. know what they are doing - and the Park Tower is a huge endorsement of downtown. Wow, what a great week this has been for our downtown... scratch that... for Houston! A new downtown park, a new residential tower in the CBD, and a new large-scale, mixed-use project on Post Oak Boulevard (with a Whole Foods flagship anchor)... let's keep up the momentum!

Yes. Right. Anyway, back to the Downtown Park. For those of you that are interested in learning more about Houston parks, the details of the new park (and want to separate fact from fiction) -- and share your comments, the president of the Houston Parks Board and the Downtown Park Conservancy Director will be speaking at the monthly ULI (Urban Land Institute) luncheon later this month. I believe it will be May 25th at the Hilton Americas... I'll find the exact details and post in the community announcements section. I highly recommend attending for those of you who could not make the park unveiling this past week... This project is a terrific addition to our downtown area... as well as the urban core beyond. It is rather amazing what a tight timeline they are on... we easily could be enjoying this new addition to the Houston landscape within a couple of years. It is also worth noting the very generous contributions that have already been made to the new downtown park (some $40 million) by foundations and individuals in this city. I say - enthusiastically - "thank you."

Whatever... you clearly are the expert. Again, those designers and maintenance experts WHO TALKED ABOUT THE DOG RUNS IN THE PRESENTATION don't have a clue, do they??

Wrong. Wrong. Wrong. More simple speculation and uninformed judgement. This is another area that was addressed in the presentation the other night... the park will be well-maintained and clean. Period. I doubt that you've spent any time in a dog park, or you would know that they are general very clean areas and dog owners are vigilent about keeping them that way. Owners police each other and maintain the grounds... and in the case with the downtown park, their will be maintenance staff their to guarantee it stays clean. Dog parks are great for canines... but, just as importantly, they create incredible social interaction. I've gotten to know many people - who I now consider friends - at the dog park I frequent with my labrador retriever. Perhaps you would just prefer a dog-free, homeless-free, humidity-free, sterile environment... you know without real human interaction and experiences. If so, its called the Galleria...

Well said... and I would also suggest those people that think, or have concerns, that the new downtown park will be a new homeless encampment should 1) call the Downtown Park Conservancy and discuss the issue with them or 2) talk to the project architects and the maintenance coordinators. As I mentioned before, there was a large portion of the presentation on Tuesday dedicated to the subject. It was open to all. But, I guess by showing concern through responsible actions, people wouldn't get to speculate or immediately trash what is an exciting new development for our city. Or show their intolerance for people in a different socio-economic, physical, or mental state than themselves. As the saying goes, if you aren't part of the solution, you are part of the problem. Ok, back to the park. Did I say I thought it was going to be a great addition to downtown!?

Hold on now... Austin is not a big market - and it does not have an overly diversified economy either. Take a look at the period from year-end 2000 through year-end 2004 in Austin... an overdependence on the high-tech sector (and its subsequent implosion) and budgetary issues within the State government led to thousands of job losses, a drop in in-migration, and a crashing real estate market. All was not well in Dell-ville - because of the city's dependence on tech! Its only been recently that Austin has turned the corner and started seeing much healthier fundamentals... but, still, today apartment rents, office occupancies, and industrial fundamentals are still some distance from their peak in early 2000. The large residential towers that have been announced in downtown Austin are not a sure thing... and I am going to continue monitoring the market. The condo market is pretty thin in Austin, and with rising interest rates, could get stung fairly easily (witness what is happening in San Diego, Miami, etc... - on a much larger scale). If I were a lender there, I may be doing a little sweating... Meanwhile, Houston has actually performed very well over the past 17 years... and has been a national leader in job growth over that period. The city has done really well over the past 5 years in particular in relation to the nation and most major metropolitan areas. AND, most of the job growth up until recently was NOT coming from the energy sector (consolidations in the industry saw to that). Health care, education, government, financial services, and construction helped keep Houston resilient. Energy is also expanding now, which is one of the primary reasons why the city is a national leader in employment growth. Anyway, I am a big fan of Austin and it's residential construction boom is noteworthy. The city and strong developers are supporting the growth in units in the downtown core. I don't foresee a crash of any sort... but it will be much more competitive than we have seen recently. And, if you look at the numbers from the Texas Workforce Commission and the Bureau of Labor Statistics, Austin - like all cities (Houston, too) - needs to continue nurturing and diversifying it's economic base.

My thoughts exactly... Dallas is fortunate to have major real estate players who are focused on making sure the city has the latest and greatest retailing and hospitality ventures. Good for Dallas... and good for those of us that work in and visit the Metroplex from time to time. Here is another announcement in the Wall Street Journal... Mandarin Hotel To Beef Up Project Outside of Dallas By THADDEUS HERRICK May 10, 2006; Page B12 A $3 billion mixed-use project on the outskirts of downtown Dallas will include the region's first Mandarin Oriental Hotel, in a deal expected to be announced today, providing the development with a big boost. Victory Park, a 75-acre project spearheaded by Ross Perot Jr.'s Hillwood, is one of a few ambitious U.S. developments that seek to create large-scale urban neighborhoods from scratch. Another particularly notable example, with almost twice the acreage of Victory Park, is Atlantic Station, in Atlanta; it was co-developed by AIG Global Real Estate Investment Corp. and Jacoby Development Inc. The Mandarin Oriental Dallas would be Victory Park's second major luxury hotel. A W Hotel and residences are set to open June 15. Construction on the Mandarin is expected to begin early next year. It is scheduled to open in 2009, with 120 rooms occupying the first 11 floors of the project's signature high-rise, a 43-floor building to be known as Victory Tower. An additional 90 residences on floors 23 to 43 will range in price from $850,000 to $6 million. Mandarin Oriental Hotel Group, a unit of Mandarin Oriental International Ltd., is incorporated in Bermuda and owned in part by Jardine Matheson Group. Mr. Perot said the Mandarin deal would mark a major milestone "in our endeavor to create Dallas' premier neighborhood." Though welcomed by Dallas's nearby central business district, Victory Park is nonetheless likely to compete with the city's traditional downtown. The son of the former presidential candidate, Mr. Perot is building his project in the shadow of a new $420 million basketball and hockey arena. In addition to the W Hotel, owned by Starwood Hotels & Resorts Worldwide Inc., two midrise residential buildings are to open in the fall, plus a retail and office plaza. The master plan calls for 12 million square feet of retail, residential and office space.

It does look awesome.... and pretty amazing to those of us who were there for the presentation by the conservancy / architects at the GRB this evening. Where the hell was everyone?? I know I'll get slaughtered for this, but for as many people who have voiced opinions about this park, it is amazing to me that there were maybe 50 in the room tonight for the unveiling. I'd find it hard to fathom that maybe more than 5 people who read this website bothered to show up - or else you would know that some of the comments made here are without basis. Nice showing, HAIF It appears to me you were too busy behind a monitor or trying to make sense of ill-reported stories in the paper than to bother to show up and hear the presentation, see the renderings, and ask questions of the design team and city officials. You should know that most of the issues that are being speculated on here were actually addressed in the presentation and by questions in the audience. Homeless issues - addressed (they had security experts addressing questions); the park amenities -- addressed (incl. the putting green... which is such a tiny component of the overall design and may not make the cut - unbelievable people are focusing on that!); parking issues -- addressed. Dog runs ARE part of the design... and, yes, that issue was addressed as well... The lead architects did a great job in explaining themes and objectives of the design, as well as detailing financing and maintenance objectives. It was a balanced presentation, and there were many intelligent questions / concerns from the audience that were thoughtfully and comprehensively addressed. The new downtown park will be a great addition to Houston... and I can guarantee you that it will be used and celebrated by the citizens (and visitors) of Houston. If it is half as good as I think, I'll be a frequent user... if not a new resident of the CBD to enjoy it all the time! Sorry folks, on this one, I don't think your negativity is justified...

Dead on. Uptown is quite unified and progressive in getting the message out. Central Houston is not... they are totally reactive and way behind the times. If you look outside of Houston - and Texas, other downtown organizations seem light years ahead of Houston's downtown groups. Look at San Diego, Seattle, Denver, etc.... What is really sad is if you click on the photos at the top of the Central Houston website they discuss the groundbreaking and anticipated completion dates for such landmarks as the Hobby Center, Toyota Center, etc... uh, they do know they've opened now, right? Well, I'm not so sure...

I was raised in this city, have always defended Houston, and pay a great deal of taxes to try and keep it going strong. I did not bash Houston - I merely stated that we do not -and have not - historically gotten our share of federal dollars that we send to Washington. Dallas has gotten much more back through time - look at their infrastructure for evidence of that! And since I knew someone would say I'm favoring Dallas (and I admit - I like it, too!), I also gave the example of Denver. That metro area has half the population of Houston - half - but has aggressively developed a plan, gathered support of their voters, and then had the people's will fought for by dedicated leaders in Denver and Washington. I would hope people would take a look at their FasTracks project to realize that it does take a concensus - and follow through by leaders - to address transportation issues (and funding). Denver is in the midst of planning, building, and implementing one of the most aggressive transportation plans in U.S. history. Meanwhile, Houston's "plans" continue to change and shrink. We haven't had synchronicity in Houston - period - and we have not gotten our share of the pie as a result. Can anyone really argue that fact? Houston's voters did approve rail a long time ago, but OUR will has been continually derailed by suburban interests and Congressmen with huge egos over the past two decades. How sad that METRO's biggest advocate on the national level is Kay Bailey Hutchinson - the Senator from, you guessed it, Dallas. Thank God she has gone to battle for H-town countless times in order to get transportation dollars - at the same time our local reps did everything they could to prevent federal dollars from coming here. Year after year... vote after vote... this same thing happened. And when we FINALLY get approval to build our first rail line, we have to finance the whole thing locally! No fed money went into that... and that is wrong. Houston - by the choice of its own leadership - has been treated differently than any other major metropolitan area in the country. And it is that fact that not only ticks me off, but makes me want to go to fight for this town and get our share. So, you are wrong when you call me a "basher" - I just want what is best for our town. And there is no need to go further by calling other posters ignorant... c'mon, let's be civil.

Good for Dallas... and I mean that. They continue to win, win, win in capturing federal and state dollars for their city. I gotta hand it to them. This is an example of what strong leadership - and a commitment to a plan - can do for a city. Houston has spent the last 20 years arguing about plans, voting on rail over and over, and letting elected officials (Delay, Culberson, etc...) repeatedly sidetrack any momentum on transportation initiatives. So, now we sit with a mere 7.5 miles of rail, no commuter rail system whatsoever, and countless clogged arteries. Our streets are in horrible shape - and many of our most important freeway corridors have many years of construction ahead of them. I really like Houston - but am continually frustrated by our lack of planning, and although I hate to admit it, our pathetic leadership. We should all be outraged at how few federal dollars come back to our city - while Washington continues to ship millions and millions to Dallas, Atlanta, Denver, etc... I just got back from Denver... check out their plans. http://rtd-denver.com/ Amazingly proactive, well-planned, and very popular among citizens and leaders. It is plans like this - and seeing what Dallas has done - that should light a fire under our reps in DC. But I won't hold my breathe.

Amen brother. Hey, I live in the Montrose area... and rarely - very rarely - make my way outside of the loop for shopping. I'm already at the Angelika very frequently, and will be at the Pavilions often when open. Houston's population inside the loop is as large as Denver's population within the city limits... and they have a vibrant downtown shopping/entertainment scene - and the Cherry Creek area (much like Houston's Galleria). Additionally, Denver is ringed with new lifestyle centers - as Houston is getting. And c'mon everyone... Houston's MSA population is twice Denver's!!! There is no reason why H-town can't have a vibrant retail scene throughout the city... including downtown.

Great... thanks so much for posting. For those of you that were skeptical of METRO's announcement of a new Central (intermodal) Station, the expansion of UH Downtown will now be a neighbor to the land for that project. Throw in Hardy Yards, as well as some of the artist warehouses in the area (DiverseWorks, Fotofest), and you've got some interesting and fun dynamics emerging here. As I mentioned in the METRO thread, this area will look radically different - in a very positive way - in the next five to six years.

Don't cringe... just consider the source. Houston's media is about the worst I've seen! Let them have a field day all they want... no one takes them seriously. Btw, the mayor is all for this project anyway... and the police have much bigger fish to fry. I was just in Denver and saw their large skate park near downtown. It is an area that I would say is comparable to the Buffalo Bayou site in Houston. It is really nice... well landscaped, graffiti-free, lots of lighting. It was a very festive atmosphere. I'm happy Houston is on the right track with this project - and I support it unconditionally.

Hardly. This project will not be surrounded by 20 acres of park and ride lots. Do the math. The land is valuable and will be developed (see below). METRO is committed to transit-oriented development, and Cypress (a real estate investment and development company that has done some high-profile projects around the country) made a huge purchase of the Hardy Yards site next door... also to be developed. There is a lot of investment going on in this area... and parking lots are not part of the plan. If one does a little research into METRO over the past two years or so, some big changes have taken place. Light-rail has finally started... and ridership has already surpassed projections. The leadership of METRO is now made up of people from the real estate community - and the last time I checked they were initiating two transit-oriented developments. The TOD at the Texas Medical Center - with office, retail, hotel, and condo space all included in the mix - will cost over $200 million and will be built atop the Galen St. station. You guys want dense, pedestrian oriented development?? - here you go. Another retail (w/ a possible multifamily component) development is being constructed at a Park & Ride facility off of 290. More light rail, commuter rail, and bus rapid transit are all being incorporated into METRO's expansion projects - to be completed by 2012. A central intermodal facility is exactly what we need in Houston... and I'm extremely excited about this project. And btw, the site makes total sense. It is very close to existing rail lines, Interstate 10, Interstate 45, and Highway 59 (its intermodal - so it includes rubber wheeled vehicles, also). Light rail is being expanded straight into this site. This area was incorporated into the Main Street Corridor Plan of a few years ago, as well as the 2025 Plan for the CBD by Central Houston, Inc. (that was released last year). I think we'll be pleasantly surprised if we revisit this topic in five or six years as to how much this area... and downtown and the city as a whole... will benefit from projects like this.

I was pretty overwhelmed by what I saw in San Antonio last weekend. I believe there was a government report (which I give a lot more credit on the methodology front than Men's Fitness - who said a couple of years ago that Houston was in Howard County, TX! ) that mentioned the typical resident of San Antonio was more overweight than residents of any other major U.S. city. I believe it after what I saw. But you are right, I see lots of extras l.b.s around Houston, as well as other major Southern and Midwest cities. There are only a few American cities that seem to largely escape the Battle of the Bulge (San Diego, Denver, etc..), so no one is really in a position to point fingers.

The giant Mosaic renovation, a block away (the former Fidelity Union Tower) is another possibility. And, no offense, I would give more credence to the opinion of the people who actually HAVE the $46 million than to someone who just has an opinion and 2 cents. Wow. That's just rude, TexasStar - offense taken. What makes you think - or assume - that I may not have involvement with people who might have involvement in real estate investment?????? I wasn't making anything up... I was just speaking from experience. As a matter of fact, I do happen to work for a real estate investment company - actually sit on the investment committee. We have purchased two large assets in Dallas (which in total would be far more than $46 million) - which is why I am there often. I work on getting these projects financed - and have insight into the actual performance of these properties. So you may not care about my opinion... fine... but there is no need to knock it.

I don't "visit" the area... I work there. Although I no longer live in Big D, I am in Dallas and work in the immediate vicinity at least once a week. This area of downtown Dallas - not the Arts District, not Victory, not the West End - is still challenged. C'mon, although it is changing, lets face it, it is no utopia and it has a long way to go. I must walk to my hotel or to my car after work in the office... and there are still some sketchy blocks and characters around there... try walking in the area on any random weeknight and you'll catch my drift. Now, I certainly hope that downtown Dallas turns the corner and becomes a true live/work environment, as it would make my work trips all the better. =) If I had $46 million, I would not be comfortable investing in this project. All the projects on the boards are interesting, but must also be viewed as future competition... and in true Texas fashion... the high-rise market will get overbuilt. There is a lot of money that is going into real estate these days as an investment - because the money has been allocated and must be put out into the market - not because it has been well researched or proven investments. Trust me, there is a new "irrational exuberance"... and in my opinion, it does not have staying power. We will soon discover how deep the market is for converted high-rise office buildings... not only in Dallas, but around the country. And, btw, give me the West Village or Mockingbird any day over the Republic Tower. To those projects, I say well-done... to some of these high-rise conversions, I say good-luck. I'm happy to see that there seem to be at least two takers for these units on this thread though... no matter the price!

I agree with MidtownCoog... AND this is not an anti-Dallas statement (let me go ahead and make that clear from the onset). I would not live in a former office building... for the same reason I would have no desire to live in the former Rice Hotel in Downtown Houston. I want to live in a residential neighborhood where I can walk out my door and take my dog for a walk and have quick access to the goods and services I use on a frequent basis. I don't want my life connected via elevator to the rest of the world... nor do I want to have to pay a premium (which you will in this redevelopment!) to be inconvenienced and live in a world of concrete and steel. Thanksgiving Plaza is not reason enough for me to live in this section of downtown Dallas. I'm glad Dallas is attempting to redevelop its downtown office buildings... but this concept is just not for me (which was the original question, right?). Not sure why the "common sense" knock was inserted into this dialogue... I think it makes plenty of sense that some people may not want to rent... or live in a 40-story former office tower.

Ok... what about the $2.5 billion being spent on the Katy Freeway? Or the $750 million to $1 billion that has been spend on the West Loop over the past few years?? Then there is the construction in Uptown, the Southwest Freeway, the rebuilding of streets in Montrose/Heights, blah, blah, blah... and yet, you are tired of downtown?? If you are truly tired of Downtown Houston, may I suggest a different thread... your time - and ours - would probably be better spent there. You see, people here ARE NOT tired of downtown!

Right on. I'm all for pedestrian activity in downtown Houston, especially at street level. However, I have little opposition to the tunnels and I can't believe how people knock them all the time. It is a PEDESTRIAN oriented environment... last time I checked, there wasn't anyone killed by an inattentive bus driver (which happened twice in 2004 downtown) in the tunnel level. You don't have to worry about people running red lights and taking out downtown workers (I had a friend that was hit by a DHL van downtown - which had run a red light). People are walking in a safe environment, supporting downtown establishments without having to drive. Where else can you say that in Houston?? Minneapolis, one of the most livable cities in America with a terrific downtown and new light rail system, also has one of the most extensive skyway systems in the world. It works virtually the same way as the tunnels. I am all for enhanced entrances, particularly on street level, to the tunnel system. 1000 Main and the Wells Fargo Building have nice private entrances into the tunnels which are good examples for the City. I'm not quite sure why the Mayor's Urban Design Committee hasn't taken a look at that... As for Dallas, I worked in downtown Dallas for three years. There is absolutely no comparison between Houston and Dallas on the tunnel front. The tunnels are awful there - they are disjointed and to go from one side of downtown to the other you have to walk along street level (along parking lots in many cases) anyway in most instances... and the city should do something to promote more retail coming to street level. I'm happy to hear that Dallas is addressing it. Meanwhile, back in my dear H-town, I think a balanced downtown retail system on both street level and in the tunnel system would work... and should be addressed by the city and downtown property owners. Entrances (I envision something like the subway entrances along State Street in Chicago) into the tunnels at key landmarks downtown would be a great start.