dml423

1 hour ago, lithiumaneurysm said:

 

The city's sidewalk ordinance mandates 5' minimum (6' for transit corridors). Sidewalks cost money; developers usually won't build more than what's expected of them.

Thanks for the link. I understand it costs money to build the sidewalk, but wouldn't the continuous upkeep of mowing the grass eventually erode the savings?

The rendering looks ok, but I still don't understand why almost all construction here in Houston only builds 3 foot sidewalks. Why do developers not make  6ft sidewalks (Or better yet, all the way to the street) to increase mobility? Does it have to do with city regulations or what?

Very excited for this place! I have wondered how long it would take before something went into that retail spot.

31 minutes ago, Houston19514 said:

 

Just did a search on HAR  There are 250 2BR+ condos/townhouses for sale inside the Loop in the $200,000-350,000 price range.

I stand corrected. To my defense, I was thinking new builds at that price range not existing.

Not to get off subject, but why do all of these have to be so expensive. How many people can afford this price range? I believe a huge market is undeserved because everything they build now is "Luxury" and costs over half a million at least. I really think if they could build 2-3 bedroom condos for $200-$350k, they would sell out quickly. Something like Ivy Lofts but bigger rooms and less amenities. Am I the only one who sees this large void in the market place?

Picture I got from the chronicle this morning.

This has happened a few times in the past few years already. I know the rain has been once in a decade, but still. I would not want to be facing the risks of the garage flooding when I am paying the rents they are charging.

I agree with most people. This art work just looks whack. The money could have been spent for better artwork.

Great news! We need more please!

http://www.chron.com/entertainment/restaurants-bars/article/Reef-partners-to-open-two-Italian-restaurants-in-6761589.php

Jim Crane will be the owner of the expected Italian restaurant. According to this article, there will not be a diner as discussed here. Both will be Italian restaurants. One casual and one upscale.

Any idea on what $30 oil is going to do to rental rates for these new swank apartment towers.  Who do they expect to rent all of these 1 bedroom $3-4 per SF units???

Prices will likely continue to drop a bit in the near term (Strong dollar, china weakening, and Q1 turnaround activity). Once the refineries finish their turnarounds (Q2), demand should pick up, and we should start to see the beginning of an upward movement on crude prices.Won't be quick, but will probably end 2016 around $40/bbl or so. 

In other words, price environment should be a little better by the time a lot of these units come onto the market. The question is, can these E&P & oilfield services companies hold off until then without additional layoffs?

Seems like a nice property and I am glad it might actually start.

With only 20 units and the sales center open since September, I am surprised that for this quality of a building that they haven't sold enough units to start. They only needed to pre-sell 4 or 5 units, right? Perhaps they have sold enough but are targeting next summer for another reason?

Another question I have is condo fees on this one. That 24-hour concierge is very nice to have ( and probably a "must have" for this level of luxury building) but it also comes with a cost. How much would a concierge make at a building like this, all-in (employment taxes, etc)? 40k? More? Less? 24/7 means at least 4 people. So, that is about $160k per year to the HOA, right? That means that the average sized unit would be paying about $650/mo just for the concierge..... Add HOA maintenance, insurance, etc, etc and it could get fairly steep for the mid-rise market?

Anyway, this is a really nice project and I wish the developers well.

well since these condos start at $1.25MM, I would expect HOA fees to be pretty darn high, but yea $650 just for the concierge is pretty high. One of my friends was looking to buy a 1 bdrm condo at that building on West Dallas and Shepard (The European looking one- Can't remember the name) and her HOA fees alone were going to be around $800/month. And that was for a condo around $200-250k. I could only imagine the HOA fees for a $1.25MM condo

Whats the point of investing all this money if you are just trying to add another restaurant ? You need retail here not more restaurants

It has to be both. Having both allows people to walk around to go from one to another and creates a more vibrant setting. 

Another question I had in regards to the enhancements for the retail district. For some reason, I could really see a Bubba Gumps, Rainforest Cafe type of restaurant doing well close to the House of Blues, close to where the Marlowe will be going. You can get the steady clientele from visitors to Toyota Center, Convention goers, and House of Blues visitors. I am a big Mom and Pop guy, but I just see the place perfect for the big chain restaurants. 

It will be nice when it's all done - but I feel bad for that coffee shop and the existing retail. Drove past the other night and no one at the coffee shop but the barista - on a saturday night.

 

I want to tell them to HOLD the line - better times are coming - hope they can hold on.

I believe you are referring to Ben's Beans. I hope so too. I like that place. With that said, I think the law students help them out quite a bit and they are in between semesters right now, so it could be a reason as to why it was empty.

 

https://www.bcm.edu/news/expansion/baylor-st-lukes-design-for-medical-campus

this looks pretty cool.

Noooooooooo! That building was one of my favorites in downtown. Why did they bring it down? I had always hoped they would turn it into lofts. 

Three story starbucks

 

 

 

 

Also, forgot the starbucks they just opened in GRB

I went by that Starbucks last Sunday and the prices are more expensive than other Starbucks. Like $1-2 more per drink (Coffee). Wine glasses were like $15 and beer was $7.5. With that said, it was still packed with the weight lifters from the international tournament they had and a bunch of little girl cheerleaders and their moms. 

Yea people seem to miss that a lot of companies prefer large, isolated, suburban style office campuses to ones in bustling urban areas. I kinda agree that there should be more forced concentration of density in this city, but that's not the Houston way and seemingly has never been, at least for the most part. Either way, the market gets what the market wants, and apparently the market wants more suburban campus style offices in the energy corridor.

I think this has to do with the generation that is currently at the top of these companies. They grew up in an era where they saw suburban flocking and the inner cities were falling into disrepair, full of crime and drugs and some still seem to have this mindset. This plus them having large houses close to their offices and they don't want to have to deal with traffic. 

I for one don't understand why execs don't push for a more central office location. It would allow more optionality for employees on where to live ( If you work in the energy corridor, you don't have to live in Katy or Cy Fair, one can have the option to live in other areas with similar commuting times) plus it would give employees options to do Park and Rides etc. Having these campuses spread out will always make one have to drive because public transportation is never efficient, which in turn creates more traffic. 

And this comes from a person who works in the energy corridor. 

Went by to grab some coffee and found out they close their coffee shop at 4pm. I got there at 410. Sad day. I was however able to snap a few pictures of the area.

2 Pictures of from Equinox (one outside and one of the lobby. Others are of the complex.

Edit: Obviously a noob at posting pictures. Is there a way to change the angle of the pictures? I downloaded them to google pictures but the site wouldn't let me post those pictures.

http://www.bizjournals.com/houston/blog/2015/11/experts-weigh-in-on-how-much-ut-paid-for-prime.html

"The land itself is close to other major organizations and facilities, such as theTexas Medical Center and NRG Park. Almost more importantly, though, are plans for a light-rail line that will extend to the campus, said Tom Dosch, executive managing director for ARA Newmark."

Does this mean the University line has more supporters now? I really hope so!!!

Edit- Sorry, forgot the university line would be much more north. Extension of red line or would it be the commuter line?

Randall Davis spokesman told me it starts either next month or the beginning of next year. I'm thinking the later.

Great news. I am excited for this. Hopefully this is the catapult for more development on the east side of downtown, specifically the retail that is supposed to come on Dallas St. Not to get too off topic, but any word in regards to that?

Boulevardier? What is that?

A bar. Went once and it was super packed so I left for Barley & Bovine. They (Boulevardier) ha a pretty cool neon Houston skyline outlined close to the front door.

^ I definitely like the trees but I would have done something like the following:

Am I the only person who gets a bit annoyed at the 3 ft sidewalks that continue to be built in midtown? Two people can barely walk shoulder to shoulder without having to step on the grass, let alone if someone is biking or something. Is there really that much of a cost savings putting in grass? I figured the cost savings of not having someone mow the grass every 1-2 wks would compensate for the additional cement cost.

I for one think this is a very nice design. Houston needs more buildings with a more classical look such as this one. Modern buildings will look good for a few years but a few years down the road, they will look outdated and sort of bland until they come back in style much later(and if they even do). The feeling I get with a bunch of the brutalist styled architecture around town. I for one am happy with this and that it will have ground floor retail.