Houston Retail

i think you just need a new source:)

BTW, I was the one who said that they closed, and that piece of information came from an O'conner retail report. Ill try to find out from another source if it is in fact true or if O'connor jumped the gun.

no... shh youll blow my secret identity. Fashion square is at post oak and san felipe. He just bought the old Saks Pavillion and is going to develop the whole 24 acres into a mixed-use project.

bayou place is too far disconected from main street. One thing it has going for it is the abundant parking, and if they ever build residnetial there it would sure help.

You want a big spark for downtown? Bill Denton and Geoff Jones just closed on the three blocks at Main and Dallas and are planning a project like they did in Denver (over a million sf of mixed - use space). it will be sad if this project goes up before shamrock.

You are correct sir! I doubt they'd keep the warwick name. The hotel already has branding, and dont worry you will get used to the name. This is one of the coolest hotels in dallas and it will do wonders for the immediate area. It will likely have condo units on top overlooking the park. This is truly a permanant location. I heard they picked it up for 25M. Zaza was trying to find a home on kirby, but could not find the right site. http://www.hotelzaza.com/. Look for the W to announce a site in the galleria area soon. I dont event think they took a serious look at this.

or it could be the developers name... you never know. I bet this is an early rendering and the end product will look nothing like it. I dont think Ed has anyting to do with this project, hes to busy with Fashion square. looks like brokers from Wulfe are handling the retail.

Stallone's is tied up in permit hell. I like your observations Hizzy. I worry about that north west quadrant of activity. Franklin St coffee is very cool, Ive met cool people who hang out there. Actually one of the guys I met told me that he had lived in the Bayou lofts for 2 years and never met or talked to his neighbors before Franklin was opened. It really goes to show how retail can bring together a community. Other than that and 6 degrees, there isnt much there and people who are walking north on main typically turn around once they hit the huge mosque because they dont see any activity. I guess that gives the retailers on the north character and a seperate identity from the club scene.

Looks like its going to be called the Metroplex. Thats a better name than Raiders' lofts (kinda sounds like Indiana Jones condo). Heres the full package that shows the retail layout http://www.wulfe.com/realister/manager/Pro...e_metroplex.pdf

no, the owners would encourage any retailers to use Lake Flato for the exterior. All we need now is some cool retail...

i called the trust officer who was handling it and it was picked up a few months ago (like a week before I called). No idea who bought it.

cool find. The building is now owned by the Buffalo Bayou Partnership and they will definitely do something very cool here. it will be like a restaurant/cafe/live music venue. Who knows, maybe they should jsut bring back the Love Street Circus

Im surprised it sold for so much! Ill be real curious to see what the price the condos for and how the market accepts it. The problem with this site is that it isnt "walkable" to the neighborhood. In contrast, I think the Museum Tower is a great urban site that would command huge sales per sf. GlobeSt.com EXCLUSIVE: Condo Converter Takes On Houston Trophy By Jennifer D. Duell Last updated: January 6, 2005 09:53am HOUSTON-BCN Development has finalized plans to convert 3333 Allen Parkway into residential condominiums after beating out 10 other buyers to claim the 32-story, 253-unit apartment complex. Located just one mile from Downtown, the high-rise complex was built in 2003 by a partnership between local developer, Simmons Vedder Co., and O'Connor Capital Partners of New York City. Industry experts say 3333 Allen Parkway sold to the Denver-based BCN for significantly higher than the city record of $225,000 price per unit, set by locally based Hanover Co. with the sale of the 356-unit 1200 Post Oak to Sentinel Real Estate Corp. for a reported $80 million. The Harris County Appraisal District has 3333 Allen Parkway assessed at $43 million. BCN Development, under the leadership of Craig Nassi, has never tackled a condo conversion project, but has developed three condominium buildings in its hometown, Craig LaFollette, a senior vice president with CB Richard Ellis Inc., tells GlobeSt.com. The project marks BCN Development's entrance into the Houston market. "Craig [Nassi] recognizes that Houston is in the infancy of its condo market and the first people to get it are the ones that are successful and make the money," says LaFollette, whose team included Todd Marix and J. Todd Stewart along with Jay Massirman in CBRE's Miami office. "Plus, he fell in love with the building and the location. And finally, there's no competition from existing high rises in the submarket." According to LaFollette, 3333 Allen Parkway will require little if any renovations. "It's already a luxury property with granite countertops, hardwood floors and stainless steel appliances," he points out. "3333 Allen Parkway is in a triple A location and is a triple A building." BCN financed the acquisition with first-mortgage debt from Chicago-based Corus Bank and mezzanine funding from New York City-based CWCapital. Simmons Vedder development partner Rick Craig and Mark Ehrlich with O'Connor Capital in New York City also helped get the deal to the closing table. The high-rise's units average 1,674 sf, ranging from 973 sf to 5,161 sf. The tower has 88 one-bedroom units; 139 two-bedroom apartments; 20 three-bedroom layouts; and six penthouses. It is 85% occupied with asking rental rates of $2.08 per sf. However, concessions drop the rate to $1.90 per sf, LaFollette says. BCN Development expects many renters at 3333 Allen Parkway will purchase condos, LaFollette says. "There's opportunity and demand in the market. Orion is further evidence that Houston is becoming more accustomed to high-rise living," LaFollette says, referring to a $425-million condo tower being developed by a partnership between Asbury Place Development and Tarragon Corp. Orion condos sell from $500 per sf, but pricing for 3333 Allen Parkway's condos has not been determined yet, he says.

pm me, i have a few prime inner loop develpment sites including two on Kirby

i never went there. i think its probaly the toughest part of the rail line. Its got shady parking, homeless all around and greyhound across the street. Id go there with some friends if it was a good destination, but i dont see girls going by themselves at night to a place like this. maybe that will change with time, who knows.

accidently posted twice. sorry.

This is a great use for the board. We can make a big difference in how things happen if we put the right minds together.

I heard they played the Raiders of the lost ark. Sound quality was great and about 60 people were there (subtract that 10 homless that are always in that park and you get around 50 people). Most were families surprisingly.

The hotel market is supposed to bounce back in 2007, which is about the time this would come online. The right hotel flag would make a huge impact. Ill try to post a few pictures of the pavillions, but I am confident that he can pull this off if he does it right. This development team is not to be compared with the Shamrock. Bill has been around for years and is an old retail guru. He is being calculated with his approach to the project, in fact, he has been working on this project for many years. He had the Crescent block tied up a long time ago. I think this site would suit the development better. And I am excited about the number of projects being talked about along the rail line. Its great energy for the corridor to have.

I had been waiting for the right time to post about this. Have you guys heard of Urban Exploration? UE is a past time of some folks who like to sneak into empty buildings and explore them. I first heard about it when a group from New York wrote a book about it. Heres a link to a local site (they went into the Plaza Hotel) http://suv.topcities.com/HOME.htm Another site Do a search for Urban Exploration and youll find alot of neat stuff.

Well I can give you an update. Some other squatter broke in and broke that beautiful marble statue in the foyer. The lights are still on so they can show it. and this is probaly the sickest (unhealthy) building I have ever been it. Its reeks of dead pigeons on the smaller tower (which has been condemed by the city). I bet you couldnt get into the old Days Inn building. The guy who watches it rules with an iron fist.

I bet Ed Wulfe will do something cool at Fashion Square (Post Oak and San Felipe).

another neat idea about this concept is that it will "placehold" vacant retail space and to the pedestrian, it will look like activity. Studies show that when people are walking down a corridor and are about to pass 25ft or more of vacant frontage, they tend to turn around and go back the other direction (you can see this effect happen just past the Icon hotel heading north on main). If we can energize these storefronts, activity will continue.

soft good retail is clothing and housewares and the sort. its may be easier to define what it is not - bars, clubs, restuarants. and w/r/t retail in other parts of downtown, its tough to ask for all things for all parts of downtown. it needs to have niches of activity that are separate but connected. ie. the soft good retail should be near each other to create the synergistic effect that retailes strive for. no one wants to be out on their own. The bars and restaurants have done a good job defining their area in the 3-400 block of downtown.

it is the meat rack thats planning to open on main. check out their website, it doesnt leave much to the imagaination. www.meatrack.org