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ChannelTwoNews

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  1. ChannelTwoNews
    Tema Development's The Parklane apartment-to-condo conversion wraps up - Houston Business Journal (bizjournals.com) "The building sits along the northeastern edge of Hermann Park and is part of Tema Development’s master plan for the 6.8-acre site it owns there, which also includes One Hermann Place, at 1699 Hermann Drive, which was completed in 2016, and the 32-story Two Hermann Place, at 1661 Hermann Place, which is still under construction." Um... who wants to tell the reporter about the HMNS-contracted parking over there?
  2. ChannelTwoNews
    Howard Hughes' Village Green at Bridgeland Central breaks ground - Houston Business Journal (bizjournals.com) "Howard Hughes Holdings Inc. (NYSE: HHH) broke ground on the highly anticipated Village Green at Bridgeland Central on Feb. 26. The 70-acre mixed-use project is adjacent to the Grand Parkway and bound by Bridgeland High School Drive, Bridgeland Creek Parkway and Summit Point Crossing. It's part of the 925-acre urban core of the 11,500-acre Bridgeland master-planned community in Cypress. Village Green will be anchored by an H-E-B grocery store spanning more than 100,000 square feet, which is scheduled to open by the end of 2024. Additionally, the mixed-use project will include more than 28,000 square feet of retail and restaurant space slated to be complete in spring 2025."
  3. ChannelTwoNews
    Tema Development's The Parklane apartment-to-condo conversion wraps up - Houston Business Journal (bizjournals.com) "A 40-year-old apartment building in the Museum District is wrapping up an extensive renovation project that converted the building into condominiums. Houston-based Tema Development Inc. began retrofitting The Parklane into condos in 2020, deciding the time was right to allow the building to serve the purpose it was originally designed for."
  4. ChannelTwoNews
    Houston’s Meow Wolf location hasn’t opened yet, but local artists are already at work contemplating their installations – Houston Public Media Flyer for Meow Wolf's Houston location... Based on the star in the graphic, the city is now located somewhere west of Victoria and southeast of San Antonio. Kenedy or Floresville maybe?
  5. ChannelTwoNews
    Midway breaks ground on CityCentre office tower anchored by Dow Chemical - Houston Business Journal (bizjournals.com) "Houston-based Midway has broken ground on what will be the latest addition to its booming CityCentre mixed-use development in west Houston. As the Houston Business Journal first reported in November, the new CityCentre Six office building will be at 903 Town and Country Blvd. When it is completed in 2026, the new building will include 308,000 square feet of office space, which will sit atop a nine-level podium parking structure. The building’s ground floor also will include about 12,000 square feet of retail and dining space. Midway also confirmed Feb. 23 that the previously unnamed anchor tenant for the building will be Dow Chemical, which leased 65% of the building for its Houston Dow Center. The Dow Chemical Co. is a wholly owned subsidiary of Michigan-based Dow Inc. (NYSE: DOW), which has a major presence in the Houston area."
  6. ChannelTwoNews
    Figured I'd updated this since there was no specific thread for 500 Jefferson. John Quinlan purchased this building from WP Carey in 2017. He sought to get a historic designation from the city for it in 2021 due it's design attributes and contributions to the downtown area over the years. The document is worth a read and does have some good period construction photos and schematics. Wondering if he will sell and/or do another JV with DeBartolo ultimately like he did with Elev8 and Three Westlake.
  7. ChannelTwoNews
    Houston’s Intuitive Machines touches down on the moon (houstonchronicle.com) "A Houston delegate is once again on the moon. Intuitive Machines’ uncrewed lander made history Thursday as the first privately owned spacecraft to touch down on the lunar surface. It was also the first U.S. vehicle to accomplish this in more than 50 years."
  8. ChannelTwoNews
    New Dallas convention center plan now includes former DMN site - Dallas Business Journal (bizjournals.com) "In the new site plans presented to the committee, the convention center building itself will no longer encompass lot E at the southeast corner of Memorial Drive and Hotel Street along Interstate 30. It instead would have a footprint of about 130,000 square feet on the southern half of the former Dallas Morning News property on Young Street, where a parking garage currently sits. It is unclear whether the city plans to acquire portions of that property. The facade of the new convention center will remain the same, Fleming said, but the footprint has been modified due to requests by the Texas Department of Transportation to use a flyover bridge for Union Pacific Railroad construction and staging space for dirt and equipment for construction on Interstate 30." Previous plan New Plan
  9. ChannelTwoNews
    Why more Houston offices aren't being converted to housing (houstonchronicle.com) "Developers seeking historic tax credits must be prepared to jump through several hoops, which takes time. For example, CMI Development plans to transform the 1.2 million-square-foot former Exxon skyscraper at 800 Bell in downtown Houston into a mixed-use project with hundreds of apartments. Although CMI has been working for more than a year to get the tower, completed in 1963, designated as historic, the time-consuming process is a necessary step to defraying the costs, which include of asbestos remediation. And any developer buying an empty tower for a conversion must be able to cover costs including insurance and taxes while the building isn’t generating revenue."
  10. ChannelTwoNews
    Why more Houston offices aren't being converted to housing (houstonchronicle.com) "Quinlan, in partnership with DeBartolo, has begun work on Three Westlake, a 311-unit apartment conversion of the 19-story former BP tower in the Energy Corridor. Quinlan bought the property for $21 million, after the lender took a a $67.4 million loss on the loan, he said. There weren’t a lot of lenders active in the market, said Ed Kobel, president of DeBartolo, but the firm found a bank willing to provide a construction loan. “It was super hard, but the project is so compelling, we got it done,” Kobel said. "
  11. ChannelTwoNews
    Why more Houston offices aren't being converted to housing (houstonchronicle.com) "For example, Cameron Management unveiled plans more than a year ago to convert the Esperson complex, two older office towers on Travis Street, into a mixed-used project with apartments, coworking and offices. On paper, the downtown buildings would work well for a conversion. They’re in a desirable location and have narrow floorplates allowing enough light for residential units. Cameron invested nearly $4 million into studying and planning a conversion. But the estimated cost to construct 100 units is about $50 million, about $20 million more than expected, said Dougal Cameron, president of Cameron Management. As credit markets tightened over the year, Cameron hasn’t been able to secure favorable financing. Traditional lenders are “out of the game,” he said. The towers, built in the 1920s and 1940s, are old enough to qualify for federal and state historic tax credits, but Cameron is wary of the strings attached."
  12. ChannelTwoNews
    RIP Robert Reid - Even after he had retired, he still seemed to have a lot of energy. Loved listening to him on 1560 The Game when he was on their shows. Robert Reid obituary: Former Houston Rockets star dies at 68 (houstonchronicle.com) "Robert Reid — who played 10 seasons with the Rockets, including as a key member of the franchise’s first two NBA Finals teams — died Monday at 68 after a battle with cancer."
  13. ChannelTwoNews
    Soar to High Heights: The Allen, AIA Houston AIA Houston Tour, 2/28 from 5-6 PM "The Residences at the Allen tower has redefined the skyline along Allen Parkway. The tower soars 42 stories overlooking one of Houston's most popular recreational areas - Buffalo Bayou Park. Join us for a tour of The Residences at the Allen with developer DC Partners and project archtiect HOK. The new mixed-use development includes a hotel and coondominum tower, a 22-story office building and 62,000-square -foot retail pavilion. The Residences at the Allen luxury condominiums on upper levels have individual balconies with plunge pools. While the retail pavilion has smooth organic curves resembling a spaceship will be home to an expansive gym and high-end Mexican stakehouse Toca Madera."
  14. ChannelTwoNews
    Intuitive Machines moon lander on track for Feb. 22 landing after engine burns | Space "But the lander will soon be put to the test. "Odysseus' largest challenge to date," officials added in the update thread, will be "lunar orbit insertion," which is expected to take place Wednesday (Feb. 21). The engine firing will put Odysseus in orbit around the moon in preparation for landing the following day, Thursday (Feb. 22), at 5:49 p.m. EST (2249 GMT)."
  15. ChannelTwoNews
    Preparations under way for Houston to host seven 2026 FIFA World Cup games – Houston Public Media "Leah Mastaglio is the Assistant General Manager at NRG Park. She said the stadium needs fewer renovations in preparation for the World Cup than others. “We’ve been having meetings and technical site visits with FIFA,” she said. “Last month was our latest one, and from all the technical departments that spent the entire day with our team here at NRG park, the overwhelming comment back was, ‘There’s not much more that we need to do.'” Mastaglio said some renovations will need to be done later on along the line. This would include adding a grass field to the stadium and removing some seats to make the field larger. Chris Canetti is the President of the Houston 2026 World Cup Bid Committee. He said all stadiums with matches will need to do some work to meet FIFA requirements. “One of the reasons why I think Houston was awarded a FIFA World Cup (match) was because this stadium is already in such good shape as it pertains to those standards,” he said."
  16. ChannelTwoNews
    Last of Brazoria Bridge to come down soon; Heritage Foundation to erect memorial display to Bridge to Nowhere | Wbweekly | thefacts.com “We have been working on pads/ramps for the mobilization of large cranes to remove the center span,” he said. “As soon as we complete the pads, the cranes will be able to begin mobilizing. We anticipate the project being done by late summer if not sooner.” Demolition began in August. The steel from the bridge will be recycled, and the $207,987.50 credit will be given to to the Department of Transportation."
  17. ChannelTwoNews
    How $100M turned a vacant Houston office into luxury apartments (houstonchronicle.com) "In the end, the team salvaged much of the building that otherwise would have wound up in a landfill, said Ed Kobel, president of DeBartolo. “It’s a labor of love,” said Kobel. “In a strange way we’re sort of carving off this ugly-ducking building and turning it into something that adds values to the city.” -Behind the paywall, there are some decent graphics showing the changes to the floorplates that happened during the conversion process. Don't know how to link those though.
  18. ChannelTwoNews
    Brazos_Town_Center.pdf (newquest.com) The renderings indicating there was a Raising Cane's coming had reverted back to the original design days after it was shown in the leasing documents. Since then, though, the document has been fairly drastically updated design wise. The emphasis appears to be leaning into promoting the development of the space around the movie theater into what is being stated as "mixed-use" (in about the loosest possible terms, IMO). The previous space earmarked for "Pickleball/Entertainment" has shifted to a space that simply says "Proposed Entertainment" with a stage - separate from the greenspace near the movie theater with its own stage. Why that emphasis? A few tidbits from the document may show the way. In the face of such expected growth, it's not that much of surprise they might be trying to slowly start densifying sections of this space. It's also the first time I've seen the seemingly inevitable link between the Fort Bend Parkway and Spur 10 between Pleak and Needville on any map. Best of luck on figuring that out in reality.
  19. ChannelTwoNews
    New Quest is working on leasing the former Taco Bueno space Taco Bueno - 2nd-Gen Restaurant | Newquest Taco_Bueno_2nd_Gen_Restaurant.pdf (newquest.com)
  20. ChannelTwoNews
    Megatel Homes plans lagoon community in Santa Fe, Texas - Houston Business Journal (bizjournals.com) "The property is located south of FM 517, adjacent to the Lakes of Bay Area subdivision, and wraps around several residences along Jack Beaver Road, according to a land use map submitted to the city. Most of the future community is located immediately south of Dickinson Bayou, though about 82 acres stretches from FM 517 south to the bayou. That portion would contain the lagoon and apartments, according to the developer agreement."
  21. ChannelTwoNews
    Texas A&M Space Institute first tenant in NASA's planned Exploration Park - Houston Business Journal (bizjournals.com) "On Feb. 15, TAMU System Chancellor John Sharp and Vanessa Wyche, director of NASA’s Johnson Space Center, signed a ground lease committing the two entities to over 30 acres of space on land near the JSC for the $200 million Texas A&M Space Institute announced last year. The site is part of approximately 240 acres of space that is currently undeveloped and outside JSC's controlled area, which means access restrictions will be looser, Wyche said. NASA hopes to turn the land into a multipurpose development known as Exploration Park. The Space Institute is the development’s first tenant."
  22. ChannelTwoNews
    The single tower recieved $96M in financing back in 2022. Haven't heard much about it or the rest of the project until this piece in the DBJ today, discussing Hoque's other projects. "Under the proposed development agreement, Hoque would be required to obtain a building permit by the end of 2024 and complete construction of at least 800,000 square feet of residential, office, retail and hotel space by the end of 2027, according to city documents. Hoque has yet to sign the development agreement, as he's waiting for the numbers to make sense on the financing, which needs to be finalized at the same time. The construction price has risen from $320 million to $400 million, according to Hoque. “We're not going to break ground on a $400 million project when it's a 20% higher construction price," he said. “We think it’s going to be the third or fourth quarter of this year, because I think interest is going to get cut. If I'm a betting man, I think third or fourth quarter of this year, we'll break ground on this building.”
  23. ChannelTwoNews
    Lawther – Deer Park Prairie – NPAT (texasprairie.org) Lawther-Deer Park Prairie Preserve | Facebook "This prairie is located in the heart of the Houston metroplex and within the city of Deer Park. It was slated to be another housing development when it was discovered in 2011. A fundraising effort was led by Bayou Land Conservancy in 2013. Through the efforts of many conservation groups and individuals in the Houston area, around the state and even the U.S., the funds were raised. After purchasing the property, the Bayou Land Conservancy donated it to the Native Prairies Association of Texas. NPAT and their Houston chapter are now stewards the prairie. Bayou Land Conservancy holds a conservation easement on the property to protect it from development in perpetuity."
  24. ChannelTwoNews
    Houston Inno - Houston organizations launch first-ever Houston Climate and Energy Startup Week (bizjournals.com) "The inaugural Houston Climate and Energy Startup Week will take place Sept. 9-13. The event is a collaboration between Houston-based Halliburton Labs, climate technology accelerator Greentown Labs and the Rice Alliance for Technology and Entrepreneurship. While details on specific events are not yet available, the anchoring events of the week will be the Rice Alliance’s Energy Tech Venture Forum, a currently undisclosed Greentown Labs event, and Halliburton Labs’ Finalist Pitch Day. Some events will be hosted at the Ion, the innovation hub near Greentown Labs in Midtown."
  25. ChannelTwoNews
    City of Sugar Land Page tracking this project Lake Pointe Redevelopment District | Sugar Land, TX - Official Website (sugarlandtx.gov) Summary of December 19th meeting from the page. "During the December 19, 2023 City Council meeting, City Council took actions regarding the Lake Pointe Redevelopment District zoning district. The first action authorized an amendment to the Land Use Plan, increasing the designated number of multi-family units for the area. The second action amended the Development Code, and rezoned the property to the new zoning district which allows for a mix of uses to be built in compliance with the approved code." Updated code information: Ordinance-No-2325-Dev-Code-Amendment-Lake-Pointe-Redevelopment-District-and-Rezoning (sugarlandtx.gov)
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