talltexan83

This is just a bump. 

I'm really eager to hear more details about this project.  It just feels like a catalyst for downtown in so many ways:

1.  vast improvement to the street scape around Market Square and Main St.

2.  More residents to downtown

3. Along with the new highrise going up on the other side of the park (plus the existing condos/Rice lofts close by) and new bars and restuarants, this could actually feel like a real urban neighborhood

4.  Hines committing to build residential in downtown sends a strong signal to the marketplace.........which hopefully means more growth and more stability going forward

Walked by this today.  The build out is moving along nicely - tall ceilings, long bar, exposed brick - all similar to the location off of Market Square.

With direct access to the street, this one certainly feels different than your typical hotel bar.  A welcome addition to the area.  I wish someone who put that empty space in OPP to good use as well.

The way Rice has been slowly using up the parking lot on the other side of the stadium - new tennis courts, continuing studies building, opera house?-  makes me think this parcel is still critical to their long-term plans.  I do wonder what the market price would be for a large tract like that though.....

All of those trees facing the Convention Center (in the pic from Sunday) are now gone.  Given their age (20+ years?), I guess I was hoping they could be saved.  Such is progress. 

That article that quoted mr Blackmon was just filler.....this judge needs to make his decision already so we can see how the legal experts battle it out

It looks like there was some kind of drilling (soil samples?) being done on this site today.  Block was closed to parking.  Any idea if this is related to the high rise or part of the Convention Center hotel construction across the street?

I believe there will be a garage component to the Opera house plan.  Net parking spaces should be unchanged. 

They were setting up a big party tent on the lot this afternoon.  Workers are already on site doing some surveying.  I'm guessing we'll get the ceremony tomorrow as planned.  Glad to see this moving along.

Ironically, I still think they could flip this lot for a very healthly return right now.  Some well funded builder could put up 20 single family homes (probably a gated drive down the middle?) at $1.5+ million each.  But I think for this property to just end up as another gated enclave would be shame.

Wow.  That looks fantastic.  I hope this spurs more activity along Dallas as well.

Forgive me if this has been discussed elsewhere, but will they be demolishing the existing structure down to the ground?  Or simply adding to the top?

took a photo of the front lobby today.  Looks to have a lot of potential.  Can't wait to see how it ends up.

Yep.  Walked by during lunch today and crews were removing all of the Central Parking signs, lamps, and attendant house.  Very exciting.

A bit off topic, but I still have some hotel envy for Dallas (and this is coming from a die-hard Houstonian).  I think we could more than justify some new 5* hotels downtown, especially with the hotel & residences model that is so popular these days.  Ritz Carlton, Waldorf, Fairmount.......bring it!

I still believe the primary tactic of the residents is to delay this project until legal fees, shift in capital markets, shift in demand, etc force Buckhead to take another route.  I know Buckhead has very publicly stated they will fight this as far as it can go (Supreme Court?), but the costs they're incurring have to be getting outrageous? Do you think they'll eventually sue to recoup those expenses?

I'm also betting they can sell the parcel for a very healthy profit (not bad for a "worse case scenario").  I did have another general question:

Hines vs Buckhead:  In a project like this, how much does the relative profile/experience of the firm come into play when we're talking about securing financing or quality contractors?  Has Buckhead completed a project like this before?  Does that even matter?

http://blog.chron.com/primeproperty/2013/12/jury-sides-with-residents-in-ashby-case/?cmpid=bna

While the service at the Four Seasons in Houston is consistent with their global standards and a 5* property, the facility is not.  The lobby, exterior, grounds, etc are not on the same level with other Four Seasons properties around the U.S.  I think most would agree that a large scale renovation is coming eventually........but a new Ritz in the area would certainly hasten that schedule.

For what's its worth, I did walk by the site yesterday and see 20+ trucks in the parking lot (next to the building, adjacent to big hole in the ground).  People are doing something inside the building so I think we'll start seeing more apparent signs of activity

Poe Elem is a really fantastic school (I'm biased) and has been for decades. For many of the reasons Kinkaid outlines above, the unique location of the neighborhood attracts professionals from all different sectors. Poe is also zoned to the some lower income housing on the other side of 59. I hope that is not what turned you off? West U Elem is also great, but each school has a very distinct culture.

Post wouldn't let them walk without a high degree of confidence that a new tenant could quickly fill that space? Right?

Hanover has earned some goodwill from the neighborhood/Rice Village community on Phase 1.  It's a quality project that should age well.  The hope is that Phase II continues with that theme.  It will also be interesting to see if this tower beats the Ashby High Rise to market.  I'm guessing they will be in direct competition for a number of tenants.

Even if its just a rumor, its still exciting to think of the possibilities.  In terms of financing and construction, it would seem logical to get these projects started asap.  Not sure what a developer in Houston has to gain from waiting right now.

But again, I know that securing loans and tenants is a whole different challenge. 

I know "walking distance" is a loosely defined term in Houston......but let's call it 1/2 a mile for the sake of argument......then the new or proposed residential/hotel projects within walking distance of the light rail is remarkable right now. 1000's of new units.

I know there are many other contributing factors to this building boom, but this is certainly a welcome validation for the light rail and its long term benefit to the city. 

Nothing new to report unfortunately.  Just a general impression of the 1100 block of Main St. on the lightrail and across from the soon-to-be demolished Macy's. 

The current tenants -  Main Food Store, a beauty supply store, and the 1st floor of a parking garage -  seem to be a real impediment to growth and a quality pedestrian experience along the Main St. corridor.  Walking through the Houston Pavilions today was actually pleasant in spite of the heat and there are pockets of improvement all around downtown, but this block was full of pigeons, homeless, and lots of litter.  It just struck me a such a shame for an otherwise well shaded and central location.  Too many female office workers (walking alone) would simply take an alternate route.  Given that many pedestrians were being approached by homeless or flying birds, it’s hard to blame them.

Do the owners of the Main Food Store have a lease that cannot be altered?  Are there any plans to bring in a new series of tenants along that block? 

It may be simple minded, but I truly think that a revitilization of that one side of one block would help so much in terms of the continuity of Main St.  It would also feed nicely into planned upgrades to the Houston Pavilions and eventual development of the Macy's site.

There is a 24 hour security guard now living on the site in a small trailer.  Behind a locked gate.  It is all very bizarre, but I'm looking forward to a chron/houstonpress profile on the guy sometime soon.....

With the tenants gone (and their cashflow) and the loan secured, project timing would seem to be critical on this one going forward.  The economic decision of letting the vacant buildings sit there for another four months without any activity is curious.  The market is booming now and new competitors seems to be moving quicker (see Hanover)

I know it may have been addressed in other topics, but is the parking lot in front of Embassy Suites (facing Discovery Green) a seperate parcel not owned by the hotel?  Hopefully it will be developed into something in the near future and lessen the visual impact of the ES.