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Camden McGowen Station & Midtown Park At 2727 Travis St.


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http://www.houstonchronicle.com/business/columnists/sarnoff/article/Company-sees-apartment-market-losing-some-of-its-6005339.php#/0

 

Camden is still planning to build an $88 million multifamily complex on the so-called "Superblock" in Midtown. The project could open in 2017. It is being done with the Midtown Redevelopment Authority, which will build a garage and a 3-acre park.

The Superblock is a long parcel of land undivided by cross streets and bordered Main, McGowen, Travis and Anita.

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By open do they mean break ground?

Either way, the key word there is "could".

I "could" win the lottery tomorrow.

Aliens "could" land on the white house lawn and hold a press conference with Obama.

Rush Limbaugh "could" come out as a liberal and team up with Al Sharpton for a new talk show together called "Down with The Man".

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Nothing new, just bisnow's take on it:

 

https://www.bisnow.com/houston/news/multifamily/camden-superblock-development-is-on-downtown-may-have-to-wait-41877

 

CAMDEN: SUPERBLOCK DEVELOPMENT IS ON, DOWNTOWN MAY HAVE TO WAIT

 

A slowing economy won't affect Camden's plans to develop Midtown's Superblock, chairman/CEO Ric Campo told the Chronicle.

Edited by DrLan34
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Camden Superblock

Location: Midtown, on land bounded by Main, McGowen, Travis and Anita

Developer: Houston-based Camden Property Trust and the Midtown Redevelopment Authority

Original plan: Camden has been involved in planning the site for more than a decade to include apartments, an underground garage and 3-acre park.

Update: Construction on the Superblock project will start in the first quarter, and units will open in 2017, CEO Ric Campo said. "We don't have to go get construction loans - we're using Camden dollars," he said.

http://www.houstonchronicle.com/business/real-estate/article/Cracks-forming-in-commercial-real-estate-market-6037038.php#/0

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http://www.houstonchronicle.com/business/real-estate/article/Camden-prepares-for-slower-year-in-Houston-6049427.php?t=c1f3a1f499&cmpid=twitter-premium 

 

Still, the company is bucking that trend with at least one project it is planning to start this year. The development, the $90 million, 315-unit McGowen Station in Midtown, is expected to open in 2017. At that time, Campo said, Houston should have little new supply, as others are now pulling back.

 

"When the market has a hole in it in 2017, we'll be there to fill it," he said.

 

Edited by DrLan34
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Is this correct?

 

http://realtynewsreport.com/2015/01/31/camden-starts-multifamily-project-in-houstons-midtown/

 

Camden Property Trust, a Houston-based REIT led by Ric Campo, has started construction on Camden McGowen in Houston’s Midtown area.

The $90 million project will have 315 units and is expected to be completed in 2017.

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That is great news for the area. Does anyone know the status of the Caroline St. reconstruction? 

 

The bid came in higher than the city was willing to pay. The city and Midtown Redevelopment Authority or either going to up the amount they are willing to pay or they are going to go back to the drawing board and find ways to lower the price. Both have said that even though they might have to cut back some items the core principles of the complete street plans they have said will be left in the project.

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From Midtown Authority below – assume will have more details re Superblock and Caroline St:

 

“If you don't come to any other meeting in Midtown this year - this is the ONE to make! This is the Launch of the proposed 10-Year Service and Improvement Plan and Assessment Plan (2015-2024). The community has been working on this for over a year...Come Find Out. The community will received updates on committee projects and upcoming goals and programs. Guests are invited to discuss community concerns and provide guidance in finding proactive solutions. In addition to general business items there will also be an update on all capital improvement projects currently taking place in the community, such as renovations of park spaces and street projects. 


Wednesday, February 4 from 6:00 pm to 7:30 pm at Central Bank in the Community Room located at 2217 Milam (at Webster) Houston, TX 77002”

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Good news everyone! Per an update at the Midtown Redevelopment Authority meeting tonight, the parking garage should start construction in the next two months... which will be followed by Camden and park construction.  The goal is to have everything ready to host a Super Bowl event at the park.

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The MRA rep said they WILL start in early March, but Camden is in charge of building the garage... which is why I took the pessimistic view of SHOULD start in the next couple months.  Apparently they were just waiting on permits.

 

So "has started construction" actually means that it "should start construction in the next two months." Good to know.

 

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Good news everyone! Per an update at the Midtown Redevelopment Authority meeting tonight, the parking garage should start construction in the next two months... which will be followed by Camden and park construction.  The goal is to have everything ready to host a Super Bowl event at the park.

 

Thanks, phillip_white!

 

Note that technically this was a meeting of the Midtown Management District, and we're dealing with the part of the meeting where a representative of the Midtown Redevelopment Authority (I didn't catch his name) provided an update to the MMD board. 

 

For grins I tried out an app at the meeting last night that let me record bits and then pay to have them transcribed. I thought this part of the meeting was interesting, but I missed recording the majority of his discussion of superblock.Here's the little bit of SuperBlock-related stuff that I recorded:

 

MRA Rep: "...also a 12 month construction contract. Very aggressive schedule targeting completion of the park November/December 2016. In time for a potential home uh venue for the Superbowl in early 2017. [iNAUDIBLE]. Uh, Camden's, uh it's 300. Between 300 and 400. It's an 8 story."

Roger Neal [member of MMD board]: "334"
MRA Rep: "Between 300 and 400. Thank you sir."
[LAUGH] 

 

I got all of the MRA rep's Caroline Street comments. Will post on that thread.

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Nice!  I'm glad someone else attended to provide additional information.  I didn't have a pen, so I was relying on my sketchy memory to update the thread.

 

Thanks, phillip_white!

 

Note that technically this was a meeting of the Midtown Management District, and we're dealing with the part of the meeting where a representative of the Midtown Redevelopment Authority (I didn't catch his name) provided an update to the MMD board. 

 

For grins I tried out an app at the meeting last night that let me record bits and then pay to have them transcribed. I thought this part of the meeting was interesting, but I missed recording the majority of his discussion of superblock.Here's the little bit of SuperBlock-related stuff that I recorded:

 

MRA Rep: "...also a 12 month construction contract. Very aggressive schedule targeting completion of the park November/December 2016. In time for a potential home uh venue for the Superbowl in early 2017. [iNAUDIBLE]. Uh, Camden's, uh it's 300. Between 300 and 400. It's an 8 story."

Roger Neal [member of MMD board]: "334"
MRA Rep: "Between 300 and 400. Thank you sir."
[LAUGH] 

 

I got all of the MRA rep's Caroline Street comments. Will post on that thread.

 

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  • 2 weeks later...

It's february 20th. It was reported that construction and " started" in January.

Any equipment on the site yet?

I don't understand the real estate development business. I really don't.

Why would anyone sit on a property for about a decade then announce that construction has " started" ....... Why not just wait until something big and yellow shows up to dig a hole before announcing anything? I mean, if you wait 10 years to build something, wouldn't ya think you would just stay mum for a few weeks until dirt gets turned in earnest before you announce that construction has "started"?

I just don't understand this business.

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It's february 20th. It was reported that construction and " started" in January.

Any equipment on the site yet?

I don't understand the real estate development business. I really don't.

Why would anyone sit on a property for about a decade then announce that construction has " started" ....... Why not just wait until something big and yellow shows up to dig a hole before announcing anything? I mean, if you wait 10 years to build something, wouldn't ya think you would just stay mum for a few weeks until dirt gets turned in earnest before you announce that construction has "started"?

I just don't understand this business.

Dick Campo is too busy wrangling up ground floor retail for his "Houston First" building next to the GRB, ya know, gotta put on a big show for the Super Bowl.
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