Nate99

Reminds me of “Deer Park” brand bottled water sold in the northeast. 

Nothing wrong with “The Harwin”, unless you’re in Houston. 

That’s awful.

1 hour ago, brijonmang said:

Not a concrete update but this still sounds like a go, 4Q 2019.  My contact said they have a PM assigned to it now so that typically means go time is in the not too distant future.

Good to hear, if they close the parking lot, I'll post up.

5 hours ago, houstontexasjack said:

The trend of "The [Insert Street Name Here]" continues.

Nominees for high rise apartment names you won't see soon:

The Kingwood

The Mykawa

The Lockwood

The Red Bluff

The Crosstimbers

24 minutes ago, Purdueenginerd said:

 

Looks like theyre about to test some piles. 

Looks that way...

Kind of sounds like the last guy tried the GoFundMe approach to capitalizing this project already.  

I'm in for a fiver if one of y'all renders up the 1836' helixed oil derrick design with Columbia blue and red LED's. 

Looks like they have done a ton of work to make sure that the Hogg building doesn't fall into the hole. 

Given that they are drilling big, long pilings that are extending up to the surface, I'm guessing that the base of the hole won't get any deeper and they'll put the mat roughly where the dirt is now once they are done with drilling and installing these pilings. IIRC, the Aris foundation was about the same, not all that far below street level. 

They dug a nice hole and filled it in about half way with new structure.  Unless someone was of a mind to buy it up and continue on with the bones of the "Regalia" design, this is going to be a blighty mess for a while, but at least it's a different blighty mess than what was there previously.  One cheer for variety.

That's encouraging, though I did see some Hare Krishna downtown last week, so don't get your hopes up. 

34 minutes ago, gclass said:

^^^ quite lovely.  i would love to view the newly renovated front entry area.

It's not much different than it was before. Freshened up, new finishes, trim, etc., but substantially the same looking coming in off the sidewalk. Apart from the valet/bellman, I don't think anything is going down there.

There's a bar and the registration desk on the 2nd floor lobby that I didn't get in the pictures.  

Just now, JJxvi said:

 

Between Tidwell and Parker all of the ROW aquisition is on the opposite side, so none.

Interesting. Maybe he's wary of the decade of construction disruption. 

It's paint, I saw the rollers.  Looks to match the original color pretty well, I don't have any opinion on it personally, apart from it looking cleaner. 

They are painting the brick...

9 hours ago, jermh said:

 

 

There is tunnel access at the basement level of the One Market Square garage, and the tunnel was connected and functioning before they started the the Texas Tower construction. It's closed now, but here's a shot looking towards the garage from the texas tower end of the tunnel, and another from the lowest parking area up the stairs towards the Texas Tower site. I'm sure it'll be reopened when the Texas Tower construction finishes. 

That's neat. I never realized that they actually opened it, though I did follow the lawsuit about keeping the connection post-Hines acquisition of the Chronicle building, so I figured it would be there once the Texas Tower opened.

I just thought it was interesting that they didn't put "garage" on the sign, I took it as hopeful.  

If someone were going to redevelop a half block, there are arguably three or four of them that are currently vacant within two blocks of the Hogg building with another just completed structurally, but not built out/occupied (Lyric Market). If Randall Davis were willing to sell a (presumably) income generating property for less than whoever owns the Houston Ballet half block lot or the Chase Bank drive through lot, that would be the problem of which any tear-down plan would only be a symptom.  If the Hogg lofts were losing money for Davis, that's another rather larger problem for DT residential.  

The Icon and Lancaster are right there, not sure what their occupancy rates are, but the immediate area is pretty good for boutique hotels.  

My guess/hope is that they are keeping up with the Joneses and offering a product that will compete with Aris, Preston, and MST.  The rents those guys are asking have to be tantalizing. 

21 minutes ago, Purdueenginerd said:

Just shy of 1 million dollars for the contract amount seems quite low for what has been shown in renderings, IMO. 

 

 

I am guessing that is just to refit a floor for marketing efforts. 

21 minutes ago, Luminare said:

 

So they are either way in over their heads or something really fishy is going on. Yikes.

Agree with H-Town and others. It's not impossible, exactly, but anything that ever actually earned a 32% IRR had a gigantic speculative upside that no one could have predicted.  

I figured it was some other convention in the math that I am not familiar with, but it doesn't sound like it.  

11 minutes ago, C List said:

 

There is definitely something fishy with how they conduct business and it starts with funding. They crowdfund their equity using unrealistically high returns with no mention of a hold period, not to mention they have a senior note and a mezzanine note to pay off. Their team is incredibly small and it doesn't look like they have any dedicated team members that work in Houston, so no developer on site. This group screams incompetence and I would love to get my hands on their prospectus, no doubt there are some upset people that saw their money vanish (Dolce Midtown). 

 

https://www.luxecrowdfunding.com/regalia-at-the-park-2/

I'd apply a risk premium to that, but I'd have to divide by zero.   

Never would have guessed they could have drummed up enough for the crane rental going that route.