buildingunbuildingrebuilding

Hmm, maybe he meant that they were unwilling to cut deals - not sure.

Leasing agent told me they were over 90% leased now. When I shopped it late 2008 they were offering 2 months free, making it highly competitive with comps.

glad to see beautiful Rice campus expanding. Doing it green is even better. gotta receive the green ($30M) to build it green

Not to boast, but my alma mater has such a nice campus

Amen!

I like it b/c not only does it remind me of buildings around Central Park or parks in other cities in the Northeast, where I am from, but it's also different from anything in Houston. I love how Houston is so modern and contemporary... but I like this residential tower next to the park because it's not... it's going to look like something from the early 20th century (at least the pictures make it seem like it's going to look like that). If it was being built in the Galleria I think it would look bad... but b/c it's being built Downtown next to the park I think it will look great!!

Every time I see the rendering I think it should be in Dallas.

The developer pledges to use the abandoned right of way for a pedestrian piazza connecting buildings on either side.

Just to clarify, my comments were in regard to the Domain in Austin that was pictured above in the thread. I have no knowledge beyond what I have read here and elsewhere on what Randall plans for the Village.

Yeah, but is that a real street or just a wide walkway designed to look like a street? I mean there isn't a car in any of those photos. And in one photo, people are walking in the "street". That's why I was thinking that it looked like Main Street at Disneyland. Don't get me wrong, I have nothing against it, it's pretty and practical, but I wouldn't be using this place as an example of anti-fake anti-wannabee architecture.

Its an internal street. You can drive on it, but its not really connected to any city grid. Its mostly for look and feel, I think, but if you want to drive on it between the anchors you can.

I'm excited about the W and Barney's. Where are you people getting your info if not from the ROD's website?

In the words of REO Speedwagon, I heard it from a friend who, heard it from a friend who, heard it from another..

think about it rationally.

westcreek has significant frontage on westheimer and some on san felipe, its about 20a and owned free/clear, and they have a stop light.

the former ford dealership is narrow and long, on a 99-year lease, only has frontage on westheimer with no light, and closer to the railroad tracks.

they may have discussed it for a while but highstreet wanted a premium, even though it has numerous negatives.

as i said, it never went beyond perliminary and the ball was not in trademark's court.

The Westcreek owners and Trademark were discussing a joing project for quite some time, which I think is common knowledge now. Maybe its semantics as to what each of us considers preliminary, not trying to pick a fight here.

When it became apparent that there were the proverbial too many chefs in the kitchen, the Westcreek owners decided it made more sense to sell (the front half of) their land. You are correct that it was not Trademark who killed it at that point.

But, since Trademark was so deeply involved in the project, they were the logical candidate to buy and were given first shot. The sides couldn't come to an agreement so CBRE was hired to market the Westheimer frontage of Westcreek. Trademark actually made a fairly competetive bid at that point but it ultimately was sold to OM.

It is Target. And it's unlikely to go anywhere anytime soon.

That Target was updated not too long ago.

its the westcreek apartments, hence the westcreek redevelopment (which i guess will be called the "river oaks district"? moo..).

there were some preliminary discussions but nothing of substance ever materialized between the two.

Discussions were more than I would consider preliminary. The groups were working together on this project for quite a while, but Trademark would never ultimately pull the trigger.

I found a newspaper article that puts the price at $129 million. I don't know where the $60 million figure originated.

So, $129 million for 47-stories. A lot less than the $250 million speculated above. Hopefully Hines 47 will come in on the cheap side simply because a lower cost would make it more likely to be built. (Right?)

If this building was completed in 2005, the materials were likely purchased a couple years earlier. Costs have gone up considerably since then. And I don't know about the building you lived in, but I toured another building by that developer in Chicago and even though new it was nowhere near as nice as the new apartment construction we are seeing in hirises here (or obviously in nicer condo buildings in Chicago). Whoever estimated $300 psf for Hines tower is probably close.

Anybody know if it's phase 2 of Esplinade or a brand new development? I live nearby and drive by this site on my way to work. I notice that it's really coming along. They've built a large parking garage and now they are working on the structures next to it. I don't see any signs that might say exactly what it is. I wonder if there's any chance of retail, since it's so near Mosaic with it's new retail, that would be really nice for the area!

My underrstanding is that Simmons Vedder is developing this and its not actually Phase 2 of Esplanade.

Oh, I wholeheartedly agree we need more retail, but no neighborhood in Houston needs more of these types of eyesores. This has a real chance to become a (relatively) pedestrian-friendly area, but we just get more bland centers with vast parking lots. But I'm not bitter.....

I'll keep my fingers crossed for some interesting tenants.

I love Oak Forest, but its not really a pedestrian-friendly area unless you like long walks. And nothing they built on this little site would change that.

Rumour is Starbucks is going in the center, fwiw.

In a way, this project is what Pavilions coulda woulda shoulda been. At the same time, Pavilions will probably be more feasable for anyone, while this one will not. So I guess it works out

But does this project include residential or is all that space above office space?

judging by all the balconies, looks to have residential.

How much of the 84% is filled by nail salons, cleaners, and donut shops? (and the other types that you see in every single strip center?)

Seems that areas between 249 and 290 are having a horrible time filling in strip centers because, well, there are too many of them. They just seem to put them up for the sake of putting them up-no plan, no prospects, etc.

Kinda seems odd. The population keeps growing and growing and supposedly the employment rate is high, but where on earth are people working?

Far less people work at HP headquarters today than did when the merger occurred. That is not even taking into account the large number of people at HP who supposedly work there but telecommute most days. Houston has had strong job growth lately, but I question how much of it is the 249 corridor (although there is a fairly new hospital up there).

I would also question the impact on this shopping center due to its lack of visibility from 249. And has been pointed out, there is no lack of retail in that general area. But maybe people will flock there because of the faux-mediterranean-uptown-park-derived-disneyesque retail look.

I would like to think that I've got better hair.

It's close.

Oh yeah, usually you here about stuff happening, but the flagship Whole Foods was announced probably over a year ago.

Word on the street is that they have not made much project in retail leasing beyond Whole Foods. Hanover is slated to build high-rise apartments and they are appearently working to bring in a Ritz Carlton (with condos?), but this project does not appear to be moving forward anywhere near as quickly as might have been expected.

umm... were there windows? Looks like a collection of boxes stacked vertically.

no balconies, no windows, sounds like an ultra-hip jail!

hey everybody let's all rush down to the jackson hill apartments!! now be honest, that statement has NEVER BEEN SAID!

If your condescension makes you feel better, good for you. But those apartments are 93% occupied with rents over $1,500 a door, one of the highest rates in the city. Perhaps they are not architecturally significant, but they are quite pleasant. Since when is designing a nice apartment complex that people want to live in a crime?

name three NICE projects they've developed.

I don't buy the idea that you need cutting edge architecture to have a quality project. Heck, I don't want to see a Guggenheim on every street corner. There have been numerous quality projects built in Houston in the last several years- Museum Tower, Sabine Lofts, Esplanade at Museum Circle (or whatever its called), Five Houston Center, Villa d'Este, Market Street in Woodlands, Anadarko Tower, Jackson Hill Apartments, etc.. All are quality representations of what the developers sought to achieve, not just ugly crap quickly thrown together. These are real buildings done well.

I completely agree. This will turn into another ugly, banal enclave for those who wish to spend big bucks on poor quality. Again, don't 'cha just love Houston developers. "Please, give us your first born for mediocrity. For mediocrity's sake...."

This overgeneralization isn't fair at all. Houston-based developers have and continue to build top-notch projects here and elsewhere. Finger and Hanover are 2 of the top multifamily developers around, building interesting luxurious apartments. Borlenghi has done some nice stuff, as have many others. and lest we forget Hines. Sure, Houston developers also build some crap, but the quality of product produced by many Houston developers stacks up with anybody out there.

Yes, I even noticed some concrete that had been poured!!! Egads, this thing is sloooooow. You know, this project exemplifies 'urban' development in Houston as of late. Shaky at best. It's happening. Oh wait, it's not. I wouldn't be as concerned as I am but for the fact that (finally) we have a somewhat decent design shaping up the (rather dour) skyline in this town. Is anyone in the 'know' for this project??? I still think it's strange that it's taking this long for discernible development to be occurring. New funding??

Don't know what happened, but spoke with someone this week who was considering funding the deal. Wish I could shed more light, but that's all I know. Looks like this one is still teetering. If I had to bet, though, I would bet it gets done. But I wouldn't bet very much.

Reminds me of my favorite Houston apartment back in the apartment days. It was in that huge old complex that used to be where the Kroger center is now at the corner of Westpark /Buffalo Speedway/Edloe. I had an efficiency there that had an honest to God Murphy bed and a little bitty kitchen with these porcelain covered fixtures all built in including an icebox. Very 40's. It had a back door with a little porch and there were lots of trees and green lawn. It was fantastic and I almost cried when they tore it all down some years later.

A friend of mine lived there (the name escapes me) right as they were about to knock it down. Great party at the end, as obviously nobody was worried about security deposits (or punching holes in the wall or similar activities).

Any idea about (rental) price/sf? $1.60 or so?

And how many months of free rent for a 12-month lease?

O'Connor says $1.54 psf with one month free. Although with the myriad of different floorplans, I wouldn't put too much confidence in the rent/sf number(for instance, OA shows rent/sf on different floorplans ranging from $.93-1.77).

To be honest, I can't think of too many new outlet centers that are built in core cities. The space required is usually harder to find in the city, although Houston certainly has enough land area.

Anyway, it's good to have one that's located a bit closer to the city. The closest outlet center to Houston, I believe, is the one in Conroe. Am I right?

I haven't done the math to see which is closer, but there is also Katy Mills.

It would seem that downtown would be a natural for singles ... and singles don't typically require lots of space.

also sounds like the kind of place a married man with a home in the suburbs might keep for nights when he is "working late".

It seems it's been hijacked...again.

To bring it back on topic, to the extent develping condos in Houston makes sense it is at a site like this with walkable retail/restaurants.