SMU1213

I doubt they are doing any workforce housing in the project but I could be wrong...

49 minutes ago, CREguy13 said:

In this situation I would lean more towards the project scope having grown and now of higher value.  If Jon Pickard is involved, I'd be shocked if it came below expectations.

From what I have heard, they designed too expensive of a building and are redesigning it. They would need about $10 psf (25%) above market rents to make a market return on the building they designed. 

On 6/13/2019 at 11:38 AM, intencity77 said:

The front corner and balconies in the rendering look alright but the many repetitive cut out windows just really kills it for me. It immediately reminded me of the same cut out windows on The Hampton/Homewood Suites Hotel downtown. Also, the modern yet bland minimalist look doesn’t really mesh well with the surrounding “historic” neighborhood. I feel since this current design trend took hold, we have become very closed minded to all other styles. The modern trend just doesn’t translate well in every location, this to me being an example. The height is okay considering there are other tall buildings nearby. 

My first though seeing the rendering was a Holiday Inn. 

They shot for the stars with the original plan and failed. Good for them for at least trying. Now they have to start with something that is realistic and that makes sense financially, while leaving future development sites for when the market supports them. I'm all for it.

57 minutes ago, Mr.Clean19 said:

This view kind of interests me because they didnt simulate the new 45 reroute. They also showed development on the Pinto Realty lots that will be taken over by the 45 re-route.

 

https://imgur.com/eIoYjh4

 

 

Not all of the Pinto realty lot is being taken over by 45. Last I've heard, townhomes are going in east of the railroad tracks. 

8 hours ago, Angostura said:

 

Our current tax regime has actually been pretty effective at shifting some land in some neighborhoods to higher-value uses. The de-industrialization of the outskirts of the Heights in the last 5-7 years is an example, but the fact that there are so many surface parking lots downtown indicates that we can do better. An office tower on a full city block downtown might be assessed at $300M or so, while the surface lot across the street is assessed at less than a tenth of that. If we assessed both at (the equivalent of) $160M, many of those lots would cease to be vacant.

 

So you want a bunch of vacant building instead of a bunch of vacant lots. Because if you do what you are stating, I'd rather build a building and have it be 10% full so I'm bringing in some revenue to offset my taxes that are fixed whether the building is built or not. 

You would think the neighboring properties would be able to kill this by refusing to sign a crane swing easement or a tie back agreement if they really wanted to. 

Having said that, that letter is a joke and will do nothing to sway the developer from constructing on this site if the deal makes sense financially/legally. 

Between taxes and pref, developers have plenty of incentive to put shovels in the ground as quickly as possible already. The exceptions are groups that have owned the land for decades (Regent Square) and their cost basis is so low they can afford to be patient or religious institutions (Islamic center) who don't pay taxes and have bottomless bank accounts. 

12 minutes ago, Avossos said:

whatever happened to the second tower behind the Sovereign? @SMU1213

 

I imagine if this is phase 2, Phase 3 and 4 are the blocks bound by W. Dallas / Dunlavy / Allen Parkway / Tirrell and the block by the remaining Allen House...  Not sure what phase the 2nd Rochow St tower fits in?..

GID designed too expensive of a building so it is on the back burner for now.

15 minutes ago, shasta said:

So, how many new residential/hotel units are we adding along Allen Parkway, in the next 5-10 years?

 

Regent Square- 600 Apartment Units, per article

 

The Allen-  ?# Condo Units

The Allen- ?# Apartments Units

The Allen-  ?# Hotel Rooms

 

Hanover- ?# Apartment Units 

Hanover - ?# Hotel Rooms

 

Ismaili Center- ? Any residential units or hotel rooms as part of this project?

That is just Phase II of Regent Square. There are two more phases. You also have Wood Partners deal next to Hanover's. And the JLB site that burnt down that is under contract to another apartment developer. The corridor between Allen Pkwy and W Dallas has to have over 3,500 units planned. 

33 minutes ago, Triton said:

I'm excited we still have these towers but are they going for a clash of different architectures?

Different architecture makes it look like the buildings weren't all built at the same time. It helps make it feel more like a natural neighborhood. 

1 hour ago, cloud713 said:

 

 

Honestly, I never even knew the condo/hotel tower was supposed to “twist”.. it just looked like they flipped a parallelogram over for each stack, to mirror the one below it and stagger the angle of the balconies/views.

 

When can Houston start expecting to get some projects like that epic Gang tower? ...50 years? Houston is so far behind in architecture/design, it’s sad, especially after being at the top in the 70s.

Once tenants are willing to pay the rents that are necessary to build them. THE RO is getting redesigned right now because the building was overdesigned and they would need rents 30% over market to make the construction numbers work. Companies/people aren't willing to pay that just to be in a pretty building unfortunately. 

1 hour ago, cspwal said:

All this talk of gondolas sounds weird to me - do they ever make them on flat land?

The State Fair of Texas has one...?

6 hours ago, MarathonMan said:

With the exception of Marlowe downtown, every RD project had been a complete departure from the initial rendering.  The Allen is a beautiful mixed-use development In the marketing material. . . I fear it will end up a half-stucco disappointment like Arabella and Astoria before all is said and done.  But who knows, maybe Mr Davis has turned a corner.  We’ll see.

RD is not involved with DC Partners anymore. 

This looks like the property they have under contract at W Dallas and Shepherd. They must just be reusing the name from a dead deal. 

Randall Davis used to be a partner of DC Partners. He's not anymore. 

2 hours ago, Naviguessor said:

The parking garage is part of the podium.  It's hidden behind the office component.  Checkout ekdrm's photos above. 

 

It is a precast parking garage that abuts the structure. Not part of the tower otherwise it would be cast in place, not precast. 

9 minutes ago, richfish said:

Love the white marble covering the 2nd/3rd floors. Looks really posh in person, and is such a striking change from all the typical concrete podiums. This is how to hide a parking garage.

The parking garage is not part of the structure. The building goes all the way to the ground. That is Hanover's new office. 

Those are some ugly/cheap windows....

Hanover has a phase 3 planned for their remaining acre next to the phase 2. 

18 hours ago, j_cuevas713 said:

Well we know another tenant moving in. I think this is great with AT&T Sports Houston and Hotel Alessandra. And if it’s true Lifetime Fitness is coming, that and Forever 21, the House of Blues, and a host of restaurants imo means GreenStreet is heading in the right direction. 

 

https://www.chron.com/techburger/article/MassChallenge-business-accelerator-opening-in-13573843.php 

Lifetime is going there. Per a contact, the lease is signed.

1 hour ago, bobruss said:

My sources tell me this is dead for now and it might be a long time before anything happens to the Regent Square property. My source was working directly with the development firm. I believe they are from Boston. They were his client and he told me this weekend that it looks dead.

It's GID out of Boston. They were still planning on going forward with it when I met with them a month ago. The "old plan" is dead but the development is still going forward. They claim they are starting by the end of the year but I won't believe them until I see shovels in the ground.  

They're currently redesigning the master plan. It's going to have more residential and less retail (still plenty). They've said they plan on starting this year but who knows how real that is. 

Sorry guys. Meant to post that in the Regent Square page. No new news on The Allen. 

Wrong topic. Sorry guys!