Central Square At 2100 Travis St.

[DrLan34]

http://thewholesalepropertylist.com/high-rise-in-downtown-houston/

Highlights:

• Nine Elevators
• Three Entrances
• Spectacular Views of Downtown Houston
• Individual HVAC Units
• One block from Light Rail Servicing the Medical Center and Downtown
• Only a few blocks from the popular Houston Theatre and Museum District
• One block from Randall’s Signature Supermarket and Shopping Center

About the Property:
Central Square Plaza was previously known as Central Bank Building. Central Square Plaza is uniquely located at the entrance to Midtown Houston and has a fabulous view of Downtown Houston. Both the Midtown and Downtown Houston are experiencing a renaissance creating a strong demand for residential units. This has led to the creation of several new developments and the conversion of existing structures that had not previously been utilized as residential property. We believe that Central Square Plaza is uniquely situated for such conversion.
The Numbers:

• ARV: $62,500,000
  
• Repairs: $26,384,112
• Asking Price: $12,000,000

Bottom Line:

Great repositioning opportunity with $20M or more of profit potential!

[lockmat]

eh, my guess is nothing for a long while. But maybe I'm just being a pessimist.

[jdbaker]

eh, my guess is nothing for a long while. But maybe I'm just being a pessimist.

If you click on the Central Square flyer it says "one of the eye sores in this location has been the Grey Hound Bus Station, which has just gone up for sale as they are relocating." Can anyone confirm this to be true?

[DrLan34]

nice find... should really help the area if true

If you click on the Central Square flyer it says "one of the eye sores in this location has been the Grey Hound Bus Station, which has just gone up for sale as they are relocating." Can anyone confirm this to be true?

[roadrunner]

If you click on the Central Square flyer it says "one of the eye sores in this location has been the Grey Hound Bus Station, which has just gone up for sale as they are relocating." Can anyone confirm this to be true?

I did read somewhere that a new facility was built on the east side and the Mexican bus station would be relocated there...and maybe the Greyhound?

My memory is failing me.

edit: found it http://www.chron.com/disp/story.mpl/business/7281999.html

Edited November 18, 2010 by roadrunner

[brian0123]

I did read somewhere that a new facility was built on the east side and the Mexican bus station would be relocated there...and maybe the Greyhound?

My memory is failing me.

edit: found it http://www.chron.com...ss/7281999.html

You sure know how to cheer me up in the morning! The article sounds like it opened last Tuesday... but I've still seen buses operating out of both the Greyhound and Americanos terminals in Midtown. Anyone else have info on this? This would be HUGE for the area.

[kylejack]

If you click on the Central Square flyer it says "one of the eye sores in this location has been the Grey Hound Bus Station, which has just gone up for sale as they are relocating." Can anyone confirm this to be true?

Central Square calling the Greyhound station an eyesore, lmao!

[LTAWACS]

I did read somewhere that a new facility was built on the east side and the Mexican bus station would be relocated there...and maybe the Greyhound?

My memory is failing me.

edit: found it http://www.chron.com/disp/story.mpl/business/7281999.html

I didn't see the greyhound buses but the mex company is part of greyhound. Either way... it's a disgracing eyesore. Right across is some game rooms, a seedy nightclub, an immigration attny, a 24-hour check cashing place, and a taco stand. ugh.

The good news is that midtown is cleaning up a little.

[htownproud]

i don't read the article to say that the west gray location is closing (although i would certainly welcom that news). it appears to me that this east side station was operating out of the west gray location while the demo and rebuilt was being completed, and now that it is, they have moved back to the east side location.

i thought i read that metro was planning to move everything north of town. it's been a while since ive heard anything about that, so i thought it was dead. i could be mistaken though.

[samagon]

i don't read the article to say that the west gray location is closing (although i would certainly welcom that news). it appears to me that this east side station was operating out of the west gray location while the demo and rebuilt was being completed, and now that it is, they have moved back to the east side location.

i thought i read that metro was planning to move everything north of town. it's been a while since ive heard anything about that, so i thought it was dead. i could be mistaken though.

yeah, that's what I got out of it too.

I recall that northside transit hub as well.

I've also been party to rumors about the bus station closing for years, I just ignore them and eagerly await it imploding, and sucking that mc donnalds into whatever abyss it goes in to.

Edited November 19, 2010 by samagon

[kylejack]

Right now it's in a pretty good spot for intermodal transit. Downtown transit center is right across the freeway going all over the city, and it sits on the rail too. Nice central location. Maybe it can be moved to the Burnett rail station when North Line opens.

[LegacyTree]

The trees along Gray St. have been fenced off for the sidewalk upgrades. The city will be fixing up the sidewalks along Gray from Brazos east down to Main and has done some preliminary surveying, sawcuts, and markings already.

[dbigtex56]

Is it just me or do these scenes look Silent Hill-ish?

For those who share my ignorance, this appears to be a video game based on a dystopian, post-appoloptic vision.

The trees along Gray St. have been fenced off for the sidewalk upgrades. The city will be fixing up the sidewalks along Gray from Brazos east down to Main and has done some preliminary surveying, sawcuts, and markings already.

I hope the city is investing wisely. The demolition of Central Bank might un-do some of these improvements.

[TheNiche]

I hope the city is investing wisely. The demolition of Central Bank might un-do some of these improvements.

If civic infrastructure is damaged by the demolition of a building, the owner of the building being demolished bears the burden of indemnity. The thought had crossed my mind that this may just be the 'Powers That Be' giving the finger to this building owner, since these costs would be subtracted directly out of the value of his property.

[DrLan34]

Found this old article, it's a good read...

http://www.houstonpress.com/2007-02-15/news/this-blows/

[ricco67]

Well, recently I noticed they were doing some sidewalk improvements being done on the gray side, a new Coolidge tag, and an opening (unapproved, I'm sure) in the parking garage on the milam side.

[infinite_jim]

[rsb320]

I saw two hawks, yesterday morning, land on the Central Square sign and disappear into it.

[DrLan34]

excellent pictures, i've been watching these pedestrian enhancements and i like them. Hopefully someone buys this place soon.

[Chi-Char-Hou-Dal]

New Year. Will 2012 be the year this eye-sore comes down?

[rsb320]

I'd rather see them refurb it. It takes up most of that block. Also, it'd look a whole lot better if they would take down those nasty drapes.

[Chi-Char-Hou-Dal]

They also spent money fixing the sidewalks about 6 mo. ago. I wonder if they will drape some of these old abandonded buildings when All-Star Game comes in 2013?

When Houston had Superbowl or Final Four did they do any full building adds?

It's definetly not a fix but would look a lot better than current state. Also, saw someone paint balled the brick wall facing off Gray St.

[Jefferyintexas]

Space Age,

You mentioned your "City Directory 1969." I love those old "city directories." Do you know where I might find some from the 50s and 60s to purchase?

Thanks,

Jeffery in Texas

[infinite_jim]

I'd rather see them refurb it. It takes up most of that block. Also, it'd look a whole lot better if they would take down those nasty drapes.

The same goes for the Savoy, nasty drapes.

A demo permit will be very expensive considering that hundreds of people live across the street from it.

I'd like to see, in the next couple years, something happen with the old Texas Art Supply bldg (north, across Grey St.) or the 2 storey bldg that takes up the other 1/4 of the central bank block.

It seems people only complain about the large abandoned bldgs, but there are quite a few 2-3 storey bldgs in north midtown/south downtown (parking lot district) that are abandoned too.

[WestGrayGuy]

You know, I started this topic almost eight years ago. There still is not a solution with what to be done with this building, makes me think it will stay this way for many years to come.

[Nate99]

You know, I started this topic almost eight years ago. There still is not a solution with what to be done with this building, makes me think it will stay this way for many years to come.

I've wondered how long it would take a large building of mondern-ish construction to be reclaimed by the earth. We've got more than a few candidates here.

[Chi-Char-Hou-Dal]

It's like that show when the humans leave - someone help me out.

[preed08]

Hello all, first post here. Love this site, and I find large abandoned structures fascinating for some reason

I always wonder what went through the owners heads when abandoning the property initially? There is very expensive equipment in there, such as the escalators/elevators that seem to have just been left to rot. I'm sure they still worked a couple years after the promises were vacated. Is there something I'm missing?

[TheNiche]

Most of them went dark during the late 80's or early 90's. If the energy bust didn't get them then it was the S&L crisis that would. You have to understand that the way we look at Detroit today was the way that outsiders looked at Houston then. Abandonment resulted when the cost of running a property exceeded what they could realistically expect to generate in revenue. In many cases, the buildings then went back to the bank, were sold in REO to speculative buyers...and those buyers sat and waited for the market to come back, hoping that they could one day write their own ticket.

But most of these buildings also had incurable functional obsolescence. For instance, odd floorplates, windowless walls, strange elevator and stairwell configurations, low ceilings, and other issues. They weren't the easiest to work with in the first place, much less today.

[Chi-Char-Hou-Dal]

Wish I had some news but walked past last night and noticed a rendering of a future cafe/retail on the Grey St. Side of the building. Is that new or has it been there?