CREguy13

To be clear, we haven't seen anything to suggest the scope has changed on the St. Regis Residences - it still appears to be 35 floors. I believe you may be referring to a future phase in that proposed site plan shared by @Paco Jones

This will be the most expensive office building in Houston. The Birdsall pre-sales are doing extremely well from what I hear. While still in design, Oxy's HQ will be incredible. All good things take time, this development will be a total gamechanger.

https://www.houstonfirst.com/news/houston-first-selects-hines-as-development-manager-for-convention-district-transformation-project Landmark project to help catalyze downtown Houston economic growth HOUSTON (August 13, 2024) – Houston First Corporation today announced that Hines, the global real estate manager, has been selected as the development manager for the transformation of the George R. Brown Convention Center (GRB) and the surrounding district. This decision was made unanimously by the Houston First Corporation board following a comprehensive Request for Qualifications (RFQ) process. The transformational project aims to modernize and expand the 37-year-old convention center, adding new visitor amenities and entertainment options to create a vibrant, interconnected convention and entertainment district that will attract more and larger conferences and meetings and generate significant economic impact for the city. "This is a generational opportunity for Houston to transform the eastern edge of its downtown and ensure that we remain a Tier 1 convention city for years to come," said Michael Heckman, president and CEO of Houston First Corporation. “Hines presented a team in their pitch with extensive global development experience; that team along with Hines’ legacy investment in downtown Houston made them the ideal partner for creating this multi-asset, multi-experience district. The track record Hines illustrated in our vetting and interview process of managing complex real estate projects gives us confidence in their ability to deliver on the vision for transforming the GRB and the convention district into a dynamic, vibrant destination for both residents and visitors.” As development manager, Hines will oversee all aspects of the project, including timeline, budget, development of construction documents and execution with all contractors to ensure the improvements are completed on time, on budget, and with the highest quality and safety standards. "We are honored to partner with Houston First on the convention district transformation project," said John Mooz, senior managing director at Hines. "As a significant stakeholder in Houston's Central Business District for over 50 years, we understand the vital importance of this ambitious and truly impactful project. Our team is committed to helping Houston First create a convention campus and entertainment district that showcases the best of Houston and catalyzes economic growth for the entire city. We look forward to working closely with all stakeholders to bring this visionary plan to fruition." Funding for the project will come through the state’s portion of incremental Hotel Occupancy Tax (HOT) revenue, ensuring no additional burden on taxpayers. The legislation supporting this funding, Senate Bill 1057, was signed into law last year, providing Houston with the same state funding mechanism that benefits cities like Dallas and Fort Worth. Then-Senator and now Mayor John Whitmire authored the legislation. Hines, headquartered in Houston, brings over half a century of successful development experience to the project, having delivered top-class assets to over 380 cities worldwide. Regarding its Houston developments, over the past three decades, Hines has completed as many third-party development engagements as their principal work. Their portfolio includes corporate headquarters, multifamily, mixed-use and logistics assets, office campuses, as well as notable Houston projects such as Texas Tower, the Hilton Americas for what was then the Houston Hotel Corporation, and the Toyota Center representing the Houston Rockets. The George R. Brown Convention Center transformation project will be executed in phases to ensure the facility remains operational throughout the process. The first phase will focus on developing new meeting space south of the existing convention center. The project also includes plans for improved pedestrian and vehicular infrastructure and will lay the groundwork for new development and entertainment venues, all designed to enhance the overall appeal of the convention district. The development is being planned in coordination with the Texas Department of Transportation's I-45 re-routing and US 59/I-69 lowering projects to ensure seamless integration and connectivity. Construction on Phase I is expected to commence in 2025. Houston First and Hines are committed to ensuring that the project meets the needs of the community and enhances Houston's appeal as a top convention and tourism destination.

Wouldn't worry about it. Pagewood isn't a MF developer, but this project and everything planned in the general area will create demand for housing, the residential will be there.

Building a new headquarters is the likely outcome, whether it's in Bridgeland or at their current campus. A large-scale mixed-use development on all the blocks they own near Allen Center could supercharge this side of downtown.

The indirect impact of this expansion is it is likely to catalyze the southern portion of downtown. Hard to believe there won't be investor interest to scoop up some of those parking lots to develop in the future.

Fair to have PTSD on Regent Square. The RO will be a very special development for Houston and be a major catalyst for the area. This is not one to be worried about!

My understanding is the first office building, MF highrise and the retail building will all be underway this year. The Auburge/Birdsall likely gets going early 2025 (I believe the presales are doing pretty well on the condos), and Oxy in 2026. There's a midrise MF planned and not sure of the timing on that. All that to say there will be lots of construction over the next several years.

First building is for Vitol. Oxy will be on southern end of the property.

I'm **cautiously optimistic the Montrose TIRZ project will prevail. The completed sections of the sidewalk along Shep/Durham already have noticeably more pedestrian use, even with it being brutally hot out. By the time Fall weather rolls around and several more blocks of sidewalks are open, it will be clear as day this is a game changer for Houston and a blueprint to transitioning our urban neighborhoods to walkability. The pedestrian friendly commercial development that will follow along this corridor is going to be amazing. Montrose residents will want their version of this along core thoroughfares like Montrose Blvd. While they may try, best of luck to the mayor and the loud minority if they think they can stop Houston from evolving!

This is the other office project. Oxy's buildings will be on the southern end of the development.

That'd be something. On a serious note, this will be quite the development. Wow

Went in with an open mind, still disagree with his comments/viewpoint. I'm not a business owner, so if a lot of the business owners are concerned with losing parking that is valid if it impacts their business after the construction clears. Even if the second phase is paused to see how the first phase performs for 6-12 months, wouldn't that be better than a total redesign before prematurely judging the project's potential success? That said it's not like shepherd/durham will be inaccessible going from 4 lanes to 3. If it reroutes some drivers to take 610 around to I-10 or stay on I-45 and not speed through the Heights, why is that wrong? This is truly one area where wider sidewalks and bike lanes are justified as its a neighborhood yearning for more walkability. Whitmire saying its common sense to keep it 4 lanes, is not common sense to me. I guess we'll see what his sidewalk program looks like, but I really believe its backwards thinking to suggest that even if we lose federal funding, he'll still move forward so it's done right. How it's being done now, is being done right. But again, this is just my personal opinion. I'm sure I speak for many on this forum, that not everyone believes car mobility is the top concern, especially for residents in the Heights which is the area in discussion.

This would be a terrible miscalculation. The value of the first completed section will be a tremendous opportunity for any pad sites that front or are within a few blocks of shepherd/durham. The success of making these streets pedestrian/bike friendly could catalyze other inner-city neighborhoods that fit a similar profile to be more walkable. How is keeping Shepherd Durham a miniature highway of cars going 50+ mph safe for Houstonians and good for the city? You're already seeing people walk on the few completed sections. There will be huge opposition to this. There are enough residents with influence in the Heights, hopefully they get LOUD.

Trust me, I do too. I love Austin and enjoy visiting there. But if you look at what underpinned its insane growth during the past several years, a lot of that is gone. Tech has contracted, startup VC peaked in 2021, and the relocation trend led by wfh has retreated - there is more outbound than inbound migration. Long term bullish, near term not so much.