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GreenStreet: Mixed-Use Development At 1201 Fannin St.


MontroseNeighborhoodCafe

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^^yeah

SO did anyone save it?  I was hearing how it was so bad and then when it is gone I hear it is pretty much the same renderings as those in the thread.

Who knows what the final perspectives will look like, for everyone should please realize that these architects, developers, and city planning officials have certain agendas that they just don't want disturbed until they are finalized and agreed upon.

I really get the feeling that the finalized perspectives for H-Pavilions will be a bit more glamorous than what has been disclosed to date. The sheer interest from this board alone shall speak volumes in regards to what was initially planned.

Please know everyone, that the developer is watching and listening to the vibes of this community as per the initial press conference..........and I'm sure he's GRINNING LIKE A CHESSHIER CAT........metropolitantexan

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I can't believe no one have mentioned yet. Its been approved!

Officials Approve Special Zone for $200M Houston Pavilions Plan

houston.jpg

By Amy Wolff Sorter

Last updated: September 14, 2005 05:13pm

HOUSTON-A $200-million proposal for a mixed-used development has moved a step closer to reality with city officials' approval of a downtown tax increment reinvestment zone (TIRZ). The Market Square TIRZ, as it has been named, will be used to float $14.3 million in bonds, of which $8.5 million will come from Harris County and the balance from the City of Houston.

More: http://www.globest.com/news/371_371/houston/138254-1.html

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HOUSTON-A $200-million proposal for a mixed-used development has moved a step closer to reality with city officials' approval of a downtown tax increment reinvestment zone (TIRZ). The Market Square TIRZ, as it has been named, will be used to float $14.3 million in bonds, of which $8.5 million will come from Harris County and the balance from the City of Houston.

Partners William Denton and Geoffrey Jones are proposing to use three city blocks--Main, Caroline and Polk streets--to develop Houston Pavilions. The project is envisioned as having high-class retail, entertainment, condominiums and office space--all packaged in about 360,000 sf. But sources have noted that, due to the high cost of downtown land values and development, a TIRZ creation was necessary to help fund the project and push it forward.

"Yesterday, the commissioner's court approved it and last night, the TIRZ's board of directors approved it," says David Turkel, director of community and economic development for Harris County. The city council also has approved the TIRZ creation. "The next step is for the city and the developers to enter into a formal agreement," Turkel tells GlobeSt.com, estimating that TIRZ agreement could be finalized within weeks.

Jones, senior vice president and managing director of CB Richard Ellis Inc.'s Houston office, and Denton, president of Entertainment Development Group Inc., based in Agoura Hills, CA have formed the Houston Pavilions LP, to move to the next step of the process. If all goes according to plan, the Houston Pavilions will be similar in scope to Entertainment Development's successful 350,000-sf Denver Pavilions, which opened in 1998.

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HOUSTON-A $200-million proposal for a mixed-used development has moved a step closer to reality with city officials' approval of a downtown tax increment reinvestment zone (TIRZ). The Market Square TIRZ, as it has been named, will be used to float $14.3 million in bonds, of which $8.5 million will come from Harris County and the balance from the City of Houston.

Partners William Denton and Geoffrey Jones are proposing to use three city blocks--Main, Caroline and Polk streets--to develop Houston Pavilions. The project is envisioned as having high-class retail, entertainment, condominiums and office space--all packaged in about 360,000 sf. But sources have noted that, due to the high cost of downtown land values and development, a TIRZ creation was necessary to help fund the project and push it forward.

"Yesterday, the commissioner's court approved it and last night, the TIRZ's board of directors approved it," says David Turkel, director of community and economic development for Harris County. The city council also has approved the TIRZ creation. "The next step is for the city and the developers to enter into a formal agreement," Turkel tells GlobeSt.com, estimating that TIRZ agreement could be finalized within weeks.

Jones, senior vice president and managing director of CB Richard Ellis Inc.'s Houston office, and Denton, president of Entertainment Development Group Inc., based in Agoura Hills, CA have formed the Houston Pavilions LP, to move to the next step of the process. If all goes according to plan, the Houston Pavilions will be similar in scope to Entertainment Development's successful 350,000-sf Denver Pavilions, which opened in 1998.

Magnificent! Simply Magnificent!

HOUSTON..........the problem is about to be solved........

Just please know everyone, that this soon to be developed masterpiece will be that catalyst that downtown Houston has been waiting for forever. And the city and county officials all know this....

Once this project is up and running, people from all over will be flocking to downtown Houston to experience this new shining landmark...........and please believe me, we're talking BENCHMARK BABY! metropolitantexan

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Below is the agenda from the Houston City Council with a the added "PASS" next to each ordinance and recommendation for the Houston Pavilions Project.

*********************************************************************

NON CONSENT AGENDA - NUMBERS 35 through 35D

MATTERS RELATING TO THE HOUSTON PAVILIONS PROJECT

35. ORDINANCE enlarging the boundaries of Reinvestment Zone Number Three, City of Houston, Texas, (Main Street/Market Square TIRZ) - DISTRICT I - ALVARADO - PASS

TAGGED BY COUNCIL MEMBERS GALLOWAY, GREEN and GARCIA

This was Item 21 on Agenda of September 7, 2005

a. ORDINANCE approving a third amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Three, City of Houston, Texas (Main Street/Market Square TIRZ); authorizing the City Secretary to distribute such plans; determining the portion of tax increment the city will pay from the area annexed into the zone - DISTRICT I

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I think the city has done plenty enough for downtown.  Don't you see all the rebuilt streets and the infrastructure under them that was put into place?

The city has played the key role in setting downtown up for growth.

Yes but let us just hope that events such as this do not mark a stopping point for Downtown's development for a long period of time. The approval has put a huge smile on my face that I still cannot wipe off eventhough I read the news about 20 minutes ago, but I hope the best for downtown Houston as far as future developments. This will be a huge step though. It could have been just one block but it is enough to almost be considered another Entertainment Distict. I am grateful for this project and hope many more will come in the near future, but we are still waiting for the day for ground breaking of course.

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I'm holding my breath.

If real estate trends in Houston hold true, anyone with land anywhere close to the area is going to jack up their prices as if the thing had already been built and was thriving.

I already thought this a long time ago. Especially the Humble Building across the street. Oh my gosh, like their rent was not already high. Just to have the convenience of having all those amenities right across the street from your door step=price-gouging.

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Wasn't a list of tenants (at least some) already mentioned?  Also I guess this was the big news that was predicted.

Yeah

Lucy

Virgin Megastore

bebe

Mexx

Laundrys

Lucky Brand

House of Blues

bebe Sport

BCBG

are all opening there among others N*E*who WOW this is GREAT NEWS I knew this was gonna happend, hey 9 pages of the forum paid off, I can't wait till it opens, I hope this does attract a lot more people Downtown.

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Inspired by the comment about the ninth page, here are the top 6 threads of new HAIF.

-------------------------------------------------------------------replies/views

6. Next U.s. President.......................................................192 3,206

5. Why Casual Visitors To Houston Area Skip Downtown..240 4,975

4. Shamrock Tower............................................................345 17,526

3. Mexicans Taking Over Houston.....................................353 13,588

2. Thoughts On The Suburbs............................................376 7,354

1. Houston Pavilions.........................................................440 16,902

Edited by YakuzaIce
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