mkultra25 Posted May 17, 2014 Share Posted May 17, 2014 Steinway sold its longtime home in NYC, Steinway Hall, last year as well: http://cityroom.blogs.nytimes.com/2013/03/26/steinway-to-sell-its-famed-showroom-building/?_php=true&_type=blogs&_r=0 Followed by the sale of the entire company to a hedge fund (Paulson & Co., after they agreed to pay more than Kohlberg): http://www.nytimes.com/2013/07/13/arts/music/notes-of-sorrow-in-changes-at-steinway.html I'd speculate that these developments may have been related to Forshey's exit as a Steinway dealer. Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted July 19, 2019 Share Posted July 19, 2019 (edited) Historic downtown Houston lofts sold to Austin co. https://www.bizjournals.com/houston/news/2019/07/09/historic-downtown-houston-lofts-sold-to-austin-co.html Quote Houston-based Randall Davis Co., the developer behind some recent high-rise condo projects in Houston, has sold the historic Hogg Palace Lofts to Kline Properties of Austin, according to a press release from JLL. JLL’s Chip Nash and Bob Heard and Houston Income Properties’ Jim Hurd and Bishale Patel represented the seller. The purchase price was not disclosed, per the release. However, the Harris County Appraisal District valued the 0.6-acre site and its 139,362 square feet of buildings at $11.72 million in January, up 22 percent from 2018. The property, at 401 Louisiana St., takes up half a block. The Randall Davis Co. bought the building in 1994, according to HCAD, and converted it into lofts in 1995, per the release. Edited July 19, 2019 by ekdrm2d1 1 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted July 30, 2019 Share Posted July 30, 2019 (edited) New owner tells renters at historic downtown apartment to vacate https://www.houstonchronicle.com/business/article/New-owner-tells-renters-at-downtown-apartment-to-14266811.php Quote Shortly after Hogg Palace, a 79-unit downtown apartment building, was sold last month, some tenants were told their leases were not being renewed and they have to be out within 60 days. Tenant Rob Greene has been paying $1,850 per month for his 1,000-square-foot one-bedroom apartment in the eight-story building. Greene, who has lived there for just over a year, was one of the tenants who received a notice from the landlord to vacate. He said he wasn’t surprised. Edited July 30, 2019 by ekdrm2d1 Quote Link to comment Share on other sites More sharing options...
bobruss Posted July 30, 2019 Share Posted July 30, 2019 So what are the plans and why some and not others? Quote Link to comment Share on other sites More sharing options...
Naviguessor Posted July 30, 2019 Share Posted July 30, 2019 I bet that they are upgrading the property, but doing it in phases. The property must be able to compete for a higher paying tenants to earn its full potential. Hogg Palace a great building, with unique units in a great location, but it’s dated. Surely the new owners will go for top tier. Quote Link to comment Share on other sites More sharing options...
mollusk Posted July 31, 2019 Share Posted July 31, 2019 A friend who lives there said they're not renewing any leases. 1 Quote Link to comment Share on other sites More sharing options...
Triton Posted July 31, 2019 Share Posted July 31, 2019 Seriously hope this is only a reno, but with this being Houston, would not be surprised if it's a teardown and a new building. 1 1 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted July 31, 2019 Share Posted July 31, 2019 That would be devastating. 3 Quote Link to comment Share on other sites More sharing options...
Triton Posted July 31, 2019 Share Posted July 31, 2019 1 hour ago, Triton said: Seriously hope this is only a reno, but with this being Houston, would not be surprised if it's a teardown and a new building. So I did some more digging and with this being designated a historic Texas and national landmark, there's no way they would be able to tear this down. 2 1 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted July 31, 2019 Share Posted July 31, 2019 So this wouldn’t just be that lame 30 day barrier? Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted July 31, 2019 Share Posted July 31, 2019 (edited) That's too bad the tenants are having to vacate so quickly, but this would be an awesome boutique hotel that pays homage to Houston's history. If they put a lot of money into this, guests would pay a high nightly rate. Downtown needs more hotel rooms in Market Square. This size building reminds me of a boutique hotel I recently stayed at in Minneapolis called The Hewing Hotel. It was awesome and I was told it was the most popular hotel for younger clientele in the city, I can't wait to stay there again. Something similar to the Hewing Hotel would be ideal for this block and be great for this area of downtown. Edited July 31, 2019 by CREguy13 2 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted July 31, 2019 Share Posted July 31, 2019 (edited) I highly doubt the new owners are going to tear this down. Especially a pair of developers from Austin. It’s way too charming of a building and it’s a national historic landmark. If there’s any trend we’ve all noticed the past few years is that lots of older buildings are being renovated. I expect this to compete with what’s around it once the developers renovate. Edited July 31, 2019 by j_cuevas713 1 Quote Link to comment Share on other sites More sharing options...
downtownian Posted July 31, 2019 Share Posted July 31, 2019 53 minutes ago, CREguy13 said: That's too bad the tenants are having to vacate so quickly, but this would be an awesome boutique hotel that pays homage to Houston's history. If they put a lot of money into this, guests would pay a high nightly rate. Downtown needs more hotel rooms in Market Square. This size building reminds me of a boutique hotel I recently stayed at in Minneapolis called The Hewing Hotel. It was awesome and I was told it was the most popular hotel for younger clientele in the city, I can't wait to stay there again. Something similar to the Hewing Hotel would be ideal for this block and be great for this area of downtown. I strongly prefer residents to hotel guests downtown. Creates a more vibrant neighborhood and community. I like hotel development downtown but would never want to see a residential building flip to hotel. 7 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted July 31, 2019 Share Posted July 31, 2019 (edited) If someone were going to redevelop a half block, there are arguably three or four of them that are currently vacant within two blocks of the Hogg building with another just completed structurally, but not built out/occupied (Lyric Market). If Randall Davis were willing to sell a (presumably) income generating property for less than whoever owns the Houston Ballet half block lot or the Chase Bank drive through lot, that would be the problem of which any tear-down plan would only be a symptom. If the Hogg lofts were losing money for Davis, that's another rather larger problem for DT residential. The Icon and Lancaster are right there, not sure what their occupancy rates are, but the immediate area is pretty good for boutique hotels. My guess/hope is that they are keeping up with the Joneses and offering a product that will compete with Aris, Preston, and MST. The rents those guys are asking have to be tantalizing. Edited July 31, 2019 by Nate99 Quote Link to comment Share on other sites More sharing options...
mollusk Posted July 31, 2019 Share Posted July 31, 2019 Pure speculation here, but... I wouldn't be surprised if there were a significant number of tenants bailing on their own because of the Hines building going up next door, making it a good time to get out and put the money to another project. Friends who live / lived there frequently complained about the noise from Market Square Tower being built across the street; a bigger building starting inches away certainly wouldn't be a welcoming prospect for sleeping. 1 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted July 31, 2019 Share Posted July 31, 2019 9 hours ago, downtownian said: I strongly prefer residents to hotel guests downtown. Creates a more vibrant neighborhood and community. I like hotel development downtown but would never want to see a residential building flip to hotel. Completely agree on residences over hotel guests. We don't know the sales price, but the amount of luxury residences going up in the neighborhood with more amenities, higher floor levels, etc make you wonder what the demand for living is for an older mid-rise building that doesn't have the same historical significance of a Rice Lofts or Texaco building. If true about residents being given 60-day notice, it'll likely get coverage quickly and hopefully the developer discloses their plans. I'd love any great renovation of a historical building that improves and expands the neighborhood. I really enjoyed my stay at the Hewing and wish Houston had a similar hotel downtown. I admit that after the thought of a conversion, my bias took over... https://www.cntraveler.com/readers-choice-awards/united-states/midwest-top-hotels 4 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted July 31, 2019 Share Posted July 31, 2019 9 hours ago, downtownian said: I strongly prefer residents to hotel guests downtown. Creates a more vibrant neighborhood and community. I like hotel development downtown but would never want to see a residential building flip to hotel. Why do you think residents make a more vibrant neighborhood? I am genuinely curious, this is something I've thought about. It seems to me that hotel guests are always going out to restaurants since they don't have kitchens in their rooms, so that adds vibrancy, while a certain number of apartment or condo owners will just stay tucked away or perhaps have multiple residences and only occupy their flat on certain days/weeks out of the year. At the same time though, having residents creates relationships and community that are perhaps more healthy for building the fabric of a neighborhood. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted July 31, 2019 Share Posted July 31, 2019 This is outside the Main Street/Market Square Historic District and hence not protected from that angle. I guess what someone said about State and National landmark protections is true, though. http://www.houstontx.gov/planning/HistoricPres/HistoricPreservationManual/historic_districts/main_street_market.html Quote Link to comment Share on other sites More sharing options...
Texasota Posted July 31, 2019 Share Posted July 31, 2019 It is a local landmark though - I'm just not sure if it's a regular landmark or a protected landmark. If it's a regular landmark, the Historic Commission will still review any changes, but all they can do is a 90 day delay. Quote Link to comment Share on other sites More sharing options...
Naviguessor Posted July 31, 2019 Share Posted July 31, 2019 Perhaps this could be a condo conversion. 2 Quote Link to comment Share on other sites More sharing options...
Triton Posted July 31, 2019 Share Posted July 31, 2019 11 minutes ago, Naviguessor said: Perhaps this could be a condo conversion. That's what I've been thinking. 2 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted July 31, 2019 Share Posted July 31, 2019 You could put a nice grocery store on the ground floor. Not sure how much interior space the garage takes up though. Quote Link to comment Share on other sites More sharing options...
mattyt36 Posted July 31, 2019 Share Posted July 31, 2019 14 hours ago, downtownian said: I strongly prefer residents to hotel guests downtown. Creates a more vibrant neighborhood and community. I like hotel development downtown but would never want to see a residential building flip to hotel. I guess it actually has happened before recently enough with the SpringHill Suites in the Humble Oil complex . . . what were those apartments called? Not sure if that was short sighted or not. 4 hours ago, H-Town Man said: Why do you think residents make a more vibrant neighborhood? I am genuinely curious, this is something I've thought about. It seems to me that hotel guests are always going out to restaurants since they don't have kitchens in their rooms, so that adds vibrancy, while a certain number of apartment or condo owners will just stay tucked away or perhaps have multiple residences and only occupy their flat on certain days/weeks out of the year. At the same time though, having residents creates relationships and community that are perhaps more healthy for building the fabric of a neighborhood. With hotels you do have seasonality and swings based on the day of week. But of course with all I've read on downtown living units becoming "second homes" for suburbanites on the weekend, I'm not sure it's any worse. Quote Link to comment Share on other sites More sharing options...
downtownian Posted July 31, 2019 Share Posted July 31, 2019 2 minutes ago, mattyt36 said: I guess it actually has happened before recently enough with the SpringHill Suites in the Humble Oil complex . . . what were those apartments called? Not sure if that was short sighted or not. Also, the Great Southwest Building was originally going to be renovated into apartments but then there was an ownership change and it is now a Cambria Hotel. https://www.hotel-online.com/press_releases/release/brief-report-historic-downtown-tower-could-become-luxury-hotel-by-2019/ Quote Link to comment Share on other sites More sharing options...
BeerNut Posted July 31, 2019 Share Posted July 31, 2019 AirBnb hotel? Quote Link to comment Share on other sites More sharing options...
mattyt36 Posted August 1, 2019 Share Posted August 1, 2019 6 hours ago, downtownian said: Also, the Great Southwest Building was originally going to be renovated into apartments but then there was an ownership change and it is now a Cambria Hotel. https://www.hotel-online.com/press_releases/release/brief-report-historic-downtown-tower-could-become-luxury-hotel-by-2019/ The SpringHill Suites actually WERE apartments for a good 15+ years though, right? Quote Link to comment Share on other sites More sharing options...
downtownian Posted August 1, 2019 Share Posted August 1, 2019 22 minutes ago, mattyt36 said: The SpringHill Suites actually WERE apartments for a good 15+ years though, right? Yeah, think it was Humble Tower Apartments with 82 units 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted December 28, 2019 Share Posted December 28, 2019 4 Quote Link to comment Share on other sites More sharing options...
russfabiani Posted August 31, 2022 Share Posted August 31, 2022 In the late 1970's (probably 1979) I worked on turning the penthouse into short term offices for The Houston Grand Opera Quote Link to comment Share on other sites More sharing options...
ttuchris Posted November 12, 2022 Share Posted November 12, 2022 Looks like a water-proofing exercise. The new mortar really changes the character and I am not sure why they decided to paint. Seems like red is going to be a constant maintenance issue. 1 Quote Link to comment Share on other sites More sharing options...
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