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Mab

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    BLVD Place Mixed-Use: 1700 Post Oak Blvd. & Upcoming Development At 1800 Post Oak Blvd.

    in Uptown and Galleria Area

    Posted

    Quote

    A Houston real estate investment trust is making a mammoth real estate acquisition of two Texas properties, including BLVD Place, the Whole Foods-anchored shopping and office complex on Post Oak Boulevard.

    Whitestone REIT, which is also buying Eldorado Plaza in the Dallas suburb of McKinney, said Wednesday that it will spend $204.6 million for both properties.

    The acquisition of the 216,944-square-foot BLVD Place will come with 1.43 acres of land where Whitesone plans to build a six-story building with 46,000 square feet of retail space on the first two floors and 91,000 square feet of office space on the top four. The company estimates the development cost will be $45 million.

     

    BLVD Place is owned by an entity including the project's original developer, Ed Wulfe of Houston-based Wulfe & Co.

     

    The BLVD Place acquisition is Whitestone's 28th property in the Houston region. The company, which owns, manages and develops retail centers across Sunbelt markets, had its initial public offering in 2010.

    Whitestone says it is negotiating financing terms with potential lenders to fund a portion of the BLVD Place purchase price with $80 million in mortgage financing.

    El Dorado Plaza is home to corporate tenants, including Coca-Cola, Wells Fargo, Pizza Hut, Hilton Hotels, NexBank, iHeart Communications and Mary Kay Cosmetics.

    The property contains 221,577 square feet of space, and Whitestone will have the option to purchase an additional 1.86 acres of land that would allow it to build approximately 24,000 square feet of additional space. Eldorado Plaza is 97 percent leased, and Whitestone expects to fund a portion of the purchase price with borrowings under its unsecured revolving credit facility.

     

    Both properties are expected to close next month.

    1

    http://www.chron.com/business/real-estate/article/Whitestone-REIT-buys-Uptown-s-BLVD-Place-11084662.php?cmpid=twitter-desktop

     

    confirms a new  6 story building is coming with two stories of retail

    • Like 9

    Adventure Pointe Amusement Park On Interstate 45

    in Coastal Prairie and Bay

    Posted

    Quote

    Texas City will be getting a new amusement park coming sometime this summer. A 25-acre piece of land is under construction off I-45 south, south of League City, that will be turned into an amusement park called Adventure Pointe.

    Dr. Harvey Slusky, a Friendswood cardiologist, is the head of operations for the project. His family has been involved in amusement parks for generations. Slusky’s father was the founder of another well-known park in Houston, Playland Park, that operated from the 1940s to 1967. Slusky’s family also operates the miniature train inside the park at the Herman Park Zoo in downtown Houston. When Playland Park closed in 1967, Slusky never got rid of the old rides.

    “The trains will travel through the park to view the themed areas,” Slusky said. “These are the original trains that operated across from the Hermann Park Zoo and began their operation over 50 years ago. They are now fully restored.”

    Adventure Pointe will feature four family-friendly themed areas.

    “Lafitte’s Landing – will have a replica of Jean Lafitte’s pirate ship,” Slusky said. “It will be approximately 90 feet long! It will have an imaginative story line that takes you on a passage inside the ship with interactive shooting galleries that have life-like animatronic characters. Then ride the Octopus across from the ship if you dare. Land of Oz – a family themed area that includes several new rides, as well as the yellow brick road. If you are lucky, you might bump into Dorothy, the Tin Woodman, the scarecrow, or the Lion as you make your way along the yellow brick road.”

    “Main Street – a 60-horse vintage carousel, a synthetic outdoor ice-skating rink which will be the first of its kind in a Texas amusement park, as well five large scale railroad trains. The trains will travel through the park to view the themed areas. These are the original trains that operated across from the Hermann Park Zoo and began their operation over 50 years ago. They are now fully restored. Another fun themed area – will be remain a mystery until our grand opening.”

    Plans for the park have been under development with the city for a long time. Slusky and Texas City officials finally came to an agreement for zoning the amusement park, which allowed Slusky to purchase the area for construction. Once the city approved the zoning, the park broke ground rather quickly. With no major fallbacks or problems with construction, the park is estimated to open sometime in June.

    “Contrary to what has been publicized recently, a wooden roller coaster will not be in the opening of phase 1, however, I definitely plan to have one in our next phase and will pay homage to my father’s coaster that operated at Playland Park back in the 1940s,” Slusky said.

    The city is expecting the park to help increase the economy in Texas City, much like other successful amusement parks in the area such as the Kemah Boardwalk. The Boardwalk opened in 1997 and has been growing ever since.

    Jorge Franz, senior vice president of tourism for the city of Houston, reports tourism in Houston generates $1.1 billion in local and state tax revenue.

    The park will be a place in Texas City for locals to bring visitors from around the world to enjoy with friends and family. The nearby Outlet Mall and Buc-ee’s are also pulling tourists to the area.

    “I think the amusement park will bring more business to Bucc-ee’s,” said Steven Rodriguez, Bucc-ee’s employee. “The amusement park will most likely not affect Bucc-ee’s in a negative way and will be beneficial to both companies.”

    Slusky wants the park to hold true to the roots of classic family fun rides and entertainment. However, there is a chance the park may grow.

    “There are approximately 7,000 new family homes planned in the immediate vicinity of the park, and we have additional acreage to expand the park’s operation with other themed areas,” Slusky said.

    For more information on the park and to stay up to date on the park’s progress, visit Adventure Pointe’s Facebook page.

    13

    http://uhclthesignal.com/wordpress/2017/03/13/the-adventure-is-about-to-begin-in-texas-city/

    • Like 1

    Retail Center At 238-250 W. 19th St.

    in The Heights

    Posted

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    he former Chippendale's Antiques store on 19th Street at Rutland is being carved into three retail stores including a specialty sneaker chain based in California, Braun Enterprises announced.

    "Nineteenth street already has tons of walking traffic and these stores will only add to it," said Zach Wolf of Braun Enterprises. 

    The midcentury building's exterior will undergo a "light redevelopment" and will keep a fresh retro look, Wolf said. Construction will begin in the next 60 to 90 days after permits are secured.

    Proper Shoes, a Long Beach, Calif., store dealing in classic sneakers and rare shoes, has leased 1,963 square feet.

    Mary & Moss, a women's clothing and gift boutique, will occupy 1,147 square feet. It's a concept of Vanessa Wodehouse, owner of Big Blue Whale Toys.

    Negotiations are underway to bring a dessert shop to the corner space, Wolf said.

    The space at 250 West 19th Street is next to Shade restaurant.

    A longtime fixture on 19th Street, the Chippendale Antiques co-op closed in October.

    4

    http://www.chron.com/business/real-estate/article/Heights-19th-Street-remodel-lands-Proper-store-10963249.php

    • Like 2
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    The Driscoll High-Rise & River Oaks Shopping Center Developments

    in River Oaks/Upper Kirby/Greenway Plaza/Bissonnet

    Posted · Edited by Mab

    Breaking: @WeingartenRlty planning a luxury residential tower at River Oaks Shopping Center. #HouNews @HoustonChron

     

     

    Quote

    Weingarten Realty announced plans Wednesday to add a 30-story residential tower to the River Oaks Shopping Center.

    The Ziegler Cooper-designed, Hanover-developed building would have more than 300 luxury units and an estimated 10,000 square feet of ground-floor retail space.

    The development site is the north side of West Gray and Driscoll Street. The area includes the building area east of Brasserie 19 in the spaces currently occupied by Local Pour, Café Ginger and a parking lot.

    Construction is tentatively scheduled to begin in 2018 with the opening estimated in 2021.

     

    "We are excited to partner with Hanover Company and Ziegler Cooper Architects, both local Houston-based companies offering exceptional experience in high rise living," Weingarten Realty's Regional Development Director, John Anderson said in a statement. "They are the best partners to transform River Oaks Shopping Center to a first class mixed-use community."

     
     

     

    http://www.houstonchronicle.com/business/real-estate/article/Weingarten-to-add-30-story-tower-to-River-Oaks-10951133.php?t=1fb9ef7381438d9cbb&cmpid=twitter-premium

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    • Like 13
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