Mab
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Update from NW mall facebook page
Thank you for your interest. There are no plans to close or sell Northwest Mall. There is a lot of construction in the area which has slowed traffic to the mall significantly, however, we are still leasing. Once the construction is complete, we hope to renovate the mall.-
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Realty News Report: In July, Fidelis Realty Partners bought the 1.2 million square foot San Jacinto Mall on Interstate 10 and Garth Road in Baytown for a major redevelopment. What are your thoughts?
Clinkscales: Fidelis buying San Jacinto Mall is, in my opinion, the best thing to happen to that site and for the city. San Jacinto Mall has not been successful as an enclosed mall. It has been just sitting there, deteriorating, for years. It’s at the southwest corner of I-10 and Garth Road, a great location. Fidelis plans to scrape the Mall and start all over to create a power center. I understand that the first pad on Garth Road is going to be a HEB grocery store. Fidelis is also bringing junior and big box retailers into the site. A 20-acre tract to the west of the mall just went under contract to another developer who will bring restaurants and mixed use to that site. There are other developments going on the east side of Baytown at this time. Activity is good.
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At Houston City Council this week: A MOU for an @HEB at 288 and N. MacGregor Drive http://houston.novusagenda.com/agendapublic/CoverSheet.aspx?ItemID=6346&MeetingID=125 …
Will be a great addition for the neighborhood especially the medical center and UH!!!
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Sugar Land's Imperial Market, the mixed-use development designed to incorporate the historic structures once used to refine sugar at the former Imperial Sugar plant, has snagged Alamo Drafthouse Cinema as its first major tenant.
Geoffrey Jones, one of the project's developers, said the retail portion of the project is nearly one-third preleased and falling oil prices have not hampered his efforts. Construction will start in March and be completed in the summer of 2017.
"Our project has been unscathed by what has been occurring in the energy industry," Jones said.
While other sectors of the commercial real estate market are slipping, Jones said Houston-area retail builders are in good shape because there's not a glut of available properties.
Alamo Drafthouse will be part of a newly constructed, two-story retail building. The Austin-based entertainment concept, which combines movies and dining, will have nine screens at its Imperial location. Triple Tap Ventures, which will run the theater, owns and operates two other Houston-area Alamo theaters. It's planning another in the Regent Square development slated for a site near Allen Parkway and Dunlavy.
Off U.S. 90 between Texas 6 and U.S. 59, Imperial Market is expected to have 275,000 square feet of retail space, 106,000-square feet of office space and a 185-room boutique hotel. Apartments are also part of the plan.
The size has been expanded slightly since the developers announced it in July. Otherwise, the character of the project has not changed, said Jones, referring to the property's historic structures set to be restored and reused, including storage silos, smokestacks and the eight-story char house. Jones is developing Imperial Market with James Murnane.
On Tuesday, Sugar Land City Council approved plans for the 26-acre development.
The project is the commercial hub of the 720-acre Imperial planned community, which is under construction and will have nearly 2,000 new homes when completed.
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One of Houston's newest luxury residential towers has snagged national restaurant Roka Akor Steak, Seafood & Sushi to anchor its first-floor retail space.
This will be Roka Akor's first Texas location, adding to its existing eateries in Scottsdale, Ariz., San Francisco, Chicago and Skokie, Il.
The restaurant signed a lease for 6,591 square feet in 2929 Weslayan, the 40-story tower at the northeast corner of Weslayan and West Alabama.
"Roka Akor will be a great complement to the amenities at 2929 Weslayan as we create the perfect feeling of home and luxury living environment," Wm. Roger Gregory, president of investments of developer PM Realty Group, said in a statement.
The multifamily building includes 254 rental units and 11,880 square feet of retail and restaurant space. Units range in size from 850 to 4,000 square feet with the average apartment leasing for around $4,000 per month.
James Namken, Kyle Knight and Edward Heap of the Weitzman Group represented PMRG in the lease. Mike Wheeler with Streetwise Retail Advisors represented Roka Akor.
Managed by JNK Concepts, Roka Akor offers Japanese cuisine with with a menu that changes seasonally. The restaurant's design prominently features a robata grill.
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A proposed new Town Center in La Porte would come with an official licensing agreement from country music legend Mickey Gilley to open a new Gilley's-branded restaurant, bar and music venue.
It’s not quite the expansive honky-tonk that Gilley ran with Sherwood Cryer in the ‘70s and ‘80s in Pasadena but it would at least incorporate the singer-songwriter’s name and include some of the accouterments that fans of the Gilley’s brand know and love.
Pasadena locals would have liked the development, still possibly years from opening, to stay in the city where the original Gilley’s was but it seems that the city of La Porte won out. Gilley himself has said that nearby churches weren’t too fond of a nightclub of this scale in that area.
he new project, to be named the La Porte Town Center, is headed up David Miles with Turfway FEC.
Miles and Gilley himself spoke at a La Porte Planning and Zoning meeting held Nov. 19 where renderings where released of what the project could one day look like. The general plan was approved at the meeting; a vote for a special conditional use permit is scheduled for Dec. 17 with a potential final approval vote from the City Council on January.
A report this week in the Pasadena Citizen set the price tag of the complex at $55 million. The 20-acre tract is located off Highway 146, just north of Wharton Weems Boulevard, near the Bay Forest Golf Club.
This would include the 50,000 square-foot entertainment venue, a conference center, a theater, and a space for a museum. Brownstone town homes, a 114-room hotel, and retail and office space would also be included, not to mention up to eight restaurants and hike and bike trails.
The future for development seems pretty wide open with a variety of options to serve the community.
It would bring in a possible 900 jobs into the area, along with millions in revenue, if all goes to plan.
The newest Gilley’s licensed venue would be nestled inside it all, joining locations in Las Vegas, Reno, Dallas, and Oklahoma. It would also be family-friendly, a far cry from the place locals saw in 1980’s “Urban Cowboy” with ex-cons manning a mechanical bull and Lone Star beer flowing like water.
The project still has a few more hurdles to jump before the La Porte City Council before it’s fully approved.
Miles said Tuesday that they hope to break ground sometime in May or June 2016 with a projected opening date coming in 2017.
As for Gilley, who turns 80 years old this coming March, he plays his last show in Branson, Missouri’s entertainment district on Wednesday, according to a rep.
He’s looking to spend more time on the road, he’s announced.
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Two popular Italian restaurants announced chef changes on Monday, but one will have a more immediate impact than the other.
Turns out that Radio Milano chef Jose Hernandez hasn't departed the CityCentre restaurant quite yet. He will remain at the upscale Italian spot in the Hotel Sorella for the next six months or so before shifting to the still-unnamed restaurant at theeagerly anticipated Hotel Alessandra that will open in theGreenStreet development in late 2016. The Hotel Sorella and the Alessandra are owned by The Valencia Group.
A representative for the hotel couldn't say whether this move had been in Hernandez's plans all along or the company had simply made the CultureMap Tastemaker Awards Chef of the Year nominee an offer he couldn't refuse by giving him the opportunity to shape both the design and concept for the restaurant. Either way, it's a win for both Radio Milano, which keeps Hernandez long enough for him to install a new menu, and for the Alessandra, which will be better equipped to attract diners with a talented chef like Hernandez in the kitchen.
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http://www.click2houston.com/news/new-development-proposed-for-montrose-area/36687512
Montrose is one of the most popular areas of Houston, and one that's going through the most changes. Now there's a new proposed development for Montrose.
Fairview near Taft in the Montrose area is known for its nightlife and restaurants, but that could slowly change within the next few months. Developer Fred Sharifi gave KPRC 2 renderings of what his master plan calls for and what it could look like when it's completed.
"It's a very exciting nightlife and I'm trying to create daytime activities which people can live and work and play in this neighborhood," Sharifi said.
Meteor Lounge and a small apartment building behind it will be demolished and make way for a five- or six-level parking garage. Developers said the parking garage is expected to alleviate headaches for residents and business owners because of the limited street parking right now.
"We are not going to have any bars in the neighborhood. My interest is to have a few restaurants and also other retail that will help the neighborhood."
Groundbreaking for the $20 million project is set for summer of next year and we are told it could be completed by the end of 2017.
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The Texas Medical Center hopes to transform the area — and itself — by developing a new 28-acre campus complete with retail, a hotel, shared research space, and maybe even its own transit line.
Right now, the proposal is still largely conceptual. The TMC hasn’t figured out how to fund the vision, dubbed the “TMC3 Innovation Campus,” and officials have said it could cost $1.5 billion.
Another hurdle facing the TMC is how to get the institutions that would serve as the anchors of the new facility — University of Texas, Texas A&M, M.D. Anderson Cancer Center, and Baylor College of Medicine — to figure out a way to jointly support it. Historically, medical center members have been famously competitive.
“The state agencies … find it complex to come together and share common space,” said Robert Robbins, president and CEO of the TMC, at a Kinder Institute event Thursday night intended to analyze the project.
“At the leadership levels and board levels, there’s a lot of fierce, pioneering Texas independence that keeps them very competitive,” he added. But his pitch to the proposed anchor tenants is that they’ll save money and achieve economies of scale — not to mention unlock collaborative potential — by utilizing 1.5 million square feet of space at the shared research facility.
The project is part of the nonprofit TMC’s effort to redefine both itself as well as its campus south of downtown. Historically, The TMC has existed to coordinate relatively mundane issues like parking, wayfinding and flood mitigation among its 56 member institutions. The proposed research campus represents TMC’s new vision for playing a greater role in promoting research collaboration and innovation among its members.
By housing researchers from several institutions in one location, sharing both research and recreation space, the TMC believes it can foster the type of collaboration that can lead to medical breakthroughs. But ultimately, it’s up to those institutions – not TMC – to agree to the plan.
The proposed center would include corporate offices and shared research and lab facilities, as well as centers focused on health policy, innovation, and clinical trials. The walkable campus and the surrounding perimeter would be home to restaurants, movie theaters, retail, and housing, according to the plan.
The site is located just south of the bulk of the TMC’s current footprint on what is now a parking lot located between Old Spanish Trail and South Braeswood Boulevard. “What it lacks in aesthetic charm, it makes up for in strategic location,” joked David Calkins, regional managing principal of the architecture firm Gensler, which developed the preliminary plans for the project.
The most iconic part of the project would be a helix-shaped park, intended to evoke the imagery of DNA, that would connect the different wings of the facility. The park would be elevated and allow pedestrians and cyclists a look downward into lab buildings and a plaza below, which would feature regular programming for the community. “The arts have already started to play a big role in the project,” Robbins said.
The facility would be located between the TMC’s northern clinical facilities and its southern research buildings. That’s significant, since it would help make the TMC more dense across a wider area.
Robbins said as part of the buildout of the facility, the TMC may consider developing a “people mover” transit system that includes stops at Reliant Stadium, the southern part of the TMC, the proposed TMC3, and the northern part of the campus. “I’m hoping this will stimulate some of those discussions,” Robbins said.
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http://www.theretailconnection.net/uploaded/property/20151019103127828.pdf
look like university place is cancel
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WELL, WE MISSED you. So why don’t we do something about it? A shiny new Swamplot editorial team is now in place (well, most of it — more on that later), testing out the furniture and getting ready to resume this site’s obsessive coverage of the Houston real estate landscape. Our regular barrage of daily updates will return shortly.How soon? Watch this space. Or, if you prefer to be notified of Swamplot’s relaunch date by email, make sure we’ve got you on ourmailing list, and you’ll be the first-ish to know. You can add yourself to the list by filling out the form here.-
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https://v3.boardbook.org/Public/PublicItemDownload.aspx?ik=37905666
Board of Regent expect to approve the 60 million renovation of Hofheinz Pavilion
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Earlier today, we had a groundbreaking ceremony at the site. Very exciting times for the Adventure Pointe team.-
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- Popular Post
- Popular Post
QuoteA Houston real estate company developing a 40-story residential building downtown has purchased a 3-acre site near the Galleria for what could be another luxury tower down the road.
An affiliate associated with BMS Management and Woodbranch Investments acquired 4600 Post Oak Place early this year for an undisclosed amount.
The inner-loop site between Post Oak Boulevard and San Felipe houses a three-story office building constructed in the 1970s. The property is in an area rife with new development, including a Gables apartment complex and an office building under development for Amegy Bank.
A new building could be residential or office, but there are no immediate development plans.
"It's not the right time," said Philip Schneidau, president of BMS Management.
Schneidau said downtown's Market Square Tower has reached 34 stories and is expected to top out in February. The first units should open by October.
http://www.chron.com/business/real-estate/article/4600-POST-OAK-6630811.php?cmpid=twitter-desktop
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Two new tenants have been announced for the Boardwalk at Towne Lake, the mixed-use project being developed by Caldwell Companies near the corner of Barker Cypress and Tuckerton roads.
Sam’s Boat Gulf Coast Kitchen + Sports Bar will occupy a 6,100-square-foot end-cap restaurant space in the development overlooking the water, according to Stephen David, president and CEO of Aloha Restaurant Group, the parent company of Sam’s Boat.
“We’re planning a big outdoor deck for patrons to sit and eat,” he said. “We know the water feature is a big draw, so we’re taking advantage of that.”
The restaurant itself will be managed by franchisee Garry Sams, David said. He described the chain as food-driven—focused on seafood, Cajun, fresh Angus beef and po’boys.
“People know us for our New Orleans flavor,” David said. “We get especially good feedback on our spicy crawfish during crawfish season.”
David said the goal is to open the restaurant by Feb. 7, 2016—Super Bowl Sunday.
Officials with Caldwell Companies also confirmed that a Pure Barre fitness studio location will be coming to the development. The company, which has more than 200 locations nationwide, offers classes that provide a full body workout. The studio’s name references the ballet barre, which is used in classes for warm up exercises, body-weight resistance, stretching and lengthening exercises.
Broad plans for the Boardwalk include waterfront dining, retail and office space. Community Impact Newspapers has reported on previously announced Boardwalk tenants in the past, including Jaxton’s, World of Beer and MOD Pizza. More details on the timeframe for various aspects of the development can also be found on our website.
And from an earlier article from August
Several new retail concepts are expected to open by early next year in Cypress as part of the Boardwalk at Towne Lake project. Caldwell Companies is developing the mixed-use project that will feature waterfront dining, retail and office space near the corner of Barker Cypress and Tuckerton roads.
A handful of new tenants have signed leases in the upcoming development, including the following businesses:
- Jaxton’s
- Taisho
- World of Beer
- MOD Pizza
- Orangetheory Fitness
- Nails of America
- Massage Heights
- Land of a Thousand Hills
- Texas Children’s Pediatrics
“I believe the [Cypress] area will embrace this project,” said Christie Amezquita, broker for Read King, which is handling retail leasing for the project. “A lot of residents drive to CityCentre and The Woodlands for dinner, but now we’ll have a great place for people in Cypress to congregate.”
Several of the tenants, such as Jaxton’s, will be the first of their kind in the area.
“[Jaxton’s] is an Italian restaurant that’s a new concept,” Amezquita said. “They’ll have homemade bread, pasta and crepes, and it will be their first location.”
Land of a Thousand Hills is a high-end coffee shop based in Atlanta, while Taisho is a hibachi sushi concept. Several tenants, such as World of Beer, MOD Pizza and Orangetheory, have locations in nearby areas like The Vintage or LaCenterra at Cinco Ranch.
One of the larger tenants, Texas Children’s Hospital has leased 10,000 square feet of the development for a pediatric office, Amezquita said.
Phase 1 of the development is about 65 percent leased with the first wave of tenants that have signed. However Amezquita said there are several letters of intent in the works for additional tenants, which will bring Phase 1 close to 95 percent leased.
Phase 2 of the project will include an estimated additional 30,000 or 40,000 square feet of retail and office space along with a boutique hotel.
When the project is complete, residents of Towne Lake will be able to ride their boats to the development, which will feature an area for boat slips. The Boardwalk at Towne Lake will feature a central green area as well, where there will be live music on the weekend. Caldwell Companies also plans to hire a full-time program director for the Boardwalk, Amezquita said.
A grand opening for the development is planned for the first weekend in March.
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Who’s up for some Frito Pie and a Root Beer Float? A building permit was issued last month for 3425 Ella and while it initially looked like former tenant Jack in the Box again requested a permit for the space, general contractor John Elford said that he’s actually putting a Prince’s Hamburgers at the location. Elford is also a partner in Prince’s and said they are also looking to add additional locations around Houston. Work on the space will begin soon.From the leader website
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According to the leader Princes Hamburgers is opening a new location in oak forest in the former Jack In Box on 2425 Ella
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The Lone Star Flight Museum will break ground on its new $35 million facility at Ellington Airport on Monday.
The 130,000-square-foot museum will emphasize science, technology, engineering and math, or STEM, as well as Texans' contributions to the history of aviation and aerospace.
"We felt like this was an opportunity for us to use our collection as something more than just a display of historic artifacts and aircraft," said Scott E. Rozzell, chair of the board for the Lone Star Flight Museum.
The museum has been in Galveston since the 1980s. After the museum and its collection were heavily damaged by Hurricane Ike in 2008, the board decided to move farther from the coast and to higher ground.
The new facility places an emphasis on education because students visiting the museum have long been interested in the science around flight and how planes get off the ground.
Likewise, teachers enjoy showing students a real-world example for what they learned in class.
One of the museum's STEM exhibits will be an aircraft simulator. Students will use trigonometry and geometry to plan the flight, physics and engineering to understand the principles of flight, and climate science to understand the environment in which the flight will take place. Then, students sit in the simulator's cockpit or in front of computer screens to watch the flight they created.
"It is a very cool thing," Rozzell said.
The museum will continue to showcase historic aircraft and its Texas Aviation Hall of Fame. It's slated to open before Houston hosts the Super Bowl in 2017, which Rozzell said will help Houston put its best foot forward and help the museum capitalize on the visitors in town.
Being at Ellington Airport positions the museum near a variety of other aviation and aerospace facilities, including NASA'sJohnson Space Center and the planned Houston Spaceport.
"We're really excited about being part of the bigger Ellington family," Rozzell said.
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BBVA Compass Plaza, the first office building to rise on the Uptown skyline in 30 years, has changed hands in a deal that signals the strength of Houston for international investments.
Masaveu Post Oak Houston Delaware, a private investor based in Spain, has purchased the 22-story building at 2200 Post Oak Blvd.
The sales price was not disclosed, according to commercial real estate firm Holliday Fenoglio Fowler, which marketed the property for the seller.
Completed in 2013, BBVA Compass Plaza was sold by a venture partnership of Stream Realty Partners, TRC Capital Partners (formerly The Redstone Cos.) and an institutional client of L&B Realty Advisors.
"The sale of BBVA Compass Plaza reflects the continued interest of foreign capital in Class A product in superb locations in Houston such as the Uptown/Galleria submarket," Steve Lerner, CEO of TRC Capital Partners, said in an announcement.
The 326,200-square-foot modern-style building is 83 percent leased, with BBVA Compass Bank occupying 58 percent of the space. The building has seven levels of parking with 1,144 spaces, a etail bank, a fitness center and two upscale restaurants, Caracol and Oka Sushi.
Located on Post Oak Boulevard north of the Galleria, the building is in a high-growth urban area where cranes dot the skyline and amenities such as 40 restaurants are within walking distance. But, with oil trading below $50 a barrel, it is unlikely additional office buildings will break ground anytime soon.
"With its groundbreaking, BBVA Compass Plaza ignited a development renaissance in Houston's most coveted submarket that is ongoing and encompasses more than 6,050 luxury multi-housing units, more than 2 million square feet of office space, in excess of 697,000 square feet of high-street retail and two new luxury hotels," Dan Miller, senior managing director of HFF said in an announcement. "The transformative impact that this property has had on the Galleria skyline cannot be overstated, placing it at the forefront of the 'urbanization' movement in the Houston marketplace."
In the past two years, foreign investors have spent nearly $2.5 billion on all types of commercial real estate in the Houston market, placing it just ahead of Miami and behind Atlanta, according to Real Capital Analytics, a real estate information firm. Foreign investments represented 9.2 percent of all commercial real estate investments here during the period.
The top cities for foreign investment in the past two years are Manhattan, Los Angeles, Boston, Washington, D.C., and Chicago.
The biggest deal occurred earlier this year when German realty fund Union Investment purchased 1000 Main, a 36-story downtown building from Invesco Real Estate. With a price tag of $440 million, the sale is one of the biggest ever in Houston.
Post Oak Boulevard has been a popular street for foreign investors.
This summer, Strategic Capital, the U.S. investment arm of China-based real estate conglomerate CSCEC, made its first Texas purchase with the acquisition of Broadstone Post Oak apartments at 3100 Post Oak Blvd.
Last year, Sinopec USA of China purchased 3050 Post Oak Blvd., a 17-story office building in the Lakes on Post Oak complex. And FG Asset Management of South Korea bought 3000 Post Oak Blvd, a 19-story building in the same complex.
The investment sales team of Scott Galloway, Dan Miller, Matt Kafka, Colby Mueck and Trent Agnew from HFF handled the sale of 2200 Post Oak Blvd.
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In 2012, Apache bought a site in BLVD Place on Post Oak at San Felipe to build a new tower, but never broke ground. Since oil prices began to fall, the company has been laying off workers and its CEO has stepped down. Earlier this year the company said it had no immediate plans to develop the site.
"Apache has been reviewing various options for its long-term facility needs, including the possibility of constructing a new building at 1770 Post Oak Blvd.," according to a company statement emailed to the Chronicle Tuesday.
"The lease extension gives Apache additional time to review all possibilities and make the best decision for the company. A final, long-term facility decision will be made after a thorough review of all options with a focus on what makes the most sense financially and strategically for the company."
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The Heights Theater At 339 W. 19th St.
in The Heights
Posted
http://www.houstonchronicle.com/business/real-estate/article/A-new-vision-for-vintage-Heights-Theater-building-6723919.php#photo-9170958