texan

2 hours ago, Houston19514 said:

 

Baylor pulled out of TMC3? 

They're no longer listed as a founding institution.

https://www.tmc.edu/tmc3/

The Texas A&M University System Board of Regents are expected to approve a $109 million research building for TMC3 next week. (Page 25)

http://assets.system.tamus.edu/files/bor/pdf/AgendaArchive/2020-02Reg/RegularItemBinderFeb2020.pdf

Chancellor of the Texas A&M System John Sharp starts talking about some plans for this property in minute 21 of the linked video. Specifically, he mentions 750 units of high-rise student housing. Also of note is he suggested Baylor CoM is dropping out of TMC3.

http://mediamatrix.tamu.edu/streams/601899/Faculty_Senate_Meeting_Recording_for_November_11,_2019

Forgive me for posting an article that's mainly about Dallas but there's some good data in it about Houston multifamily. Houston is supposed to deliver 16,092 new apartments in 2020 compared to 2019's 7,621 apartments, a whopping 111% increase.

https://www.dallasnews.com/business/real-estate/2020/01/15/more-new-apartments-opening-in-d-fw-than-any-other-us-metro/?fbclid=IwAR2IzbabH8J0wRXqPmhOCDKQle0EYPYeXWEZhrt89yO3ai5XOkH5nzu-ByQ

14 minutes ago, H-Town Man said:

 

I never specified "university" when I wrote those names. I did say "institutions." Why would you not think I meant the systems? Whether it's the Health Science Centers or something else, it's coming from the same endowment. As far as Rice, they may not nominally be a part, but they are located closer to TMC3 than Harvard is to Kendall Square. So it's part of the cluster.

 

Those are the facts.

 

An additional fact is that the Texas A&M Health Science Center is actually a component of the university in College Station, as of 2013, and its College of Medicine was founded as a part of TAMU before being split off to form the Health Science Center in 1999, contrary to his claim.

http://assets.system.tamus.edu/files/bor/pdf/AgendaArchive/2019-10-31Reg/10-31-2019Consent.pdf

I believe this agenda item is for the $625,000,000 figure we've seen for the remainder of this property. This is from the Board of Regents Meeting that will take place next week. This looks like permission to execute a contract for the ground lease for the remainder of this property, hopefully those huge, beautiful buildings!

2 hours ago, htownbro said:

If TAMU is involved then I'm sure it will come to fruition.  

I would definitely put my money on it happening. The TAMU System has been aggressively working over the past few years to expand its reach and has been very good at achieving that (winning the contract to manage Los Alamos National Lab, bringing the Army Futures Command central testing hub to campus, getting the Legislature to give it control of the Texas Division of Emergency Management). The “new” A&M System loves big, bold projects. What’s more is that this is a public-private partnership which will generate revenue for the A&M System. One of the most notable PPPs A&M has done is Park West, a 3400 bed student housing complex, it was built for about $245 million and annually generates $20 million for TAMU (projected total return to TAMU of $600 million over the 32 year agreement). In all likelihood, the Holcombe project should be very similar to this and A&M’s other PPPs, opening up ridiculously vast resources for TAMU to further invest in the Health Science Center and TMC. If you simply scale the ROI for Park West up to this project’s initial value (which is a terrible way of projecting the ROI for this project because it doesn’t account for differing agreements, higher value of land in the TMC than College Station, etc), you get a return of $1.53 billion which would very easily fund some health projects TAMU wants to pursue although even this project alone would be a game changer for the TMC.

1 hour ago, OkieEric said:

 

Can you point to page #?

225, the page titled "Private Development"

At the most recent meeting of the Board of Regents for the A&M System there was an item called "Development Tract (~4.5 acres on Holcombe Blvd.‐adjacent to TMC)" in the Public-Private Partnership list with a projected value of $325 million which I can only imagine will be a massive (and tall!) project.

http://assets.system.tamus.edu/files/bor/pdf/AgendaArchive/2019-04/Regular Agenda.pdf