DrLan34 Posted February 8, 2011 Share Posted February 8, 2011 I'm definitely impressed with Dallas' residential developments in the core of the city. They are making good progress in walkability and public transit options.Pretty good article with some of our most well known developers and their outlook on 2011.http://002mag.com/wordpress/2011/01/30/a-real-estate-rewind-february-2011/ - The article has a positive tone overall but they are not too optimistic about projects being started downtown - but I don't think that is a surprise. We will probably see a decent amount of build outs in existing buildngs which is good too though."Jonathan FarbWhat new projects are you starting this year? 2011 is going to be my most ambitious year, particularly because I am opening CityPlace, my first major luxury apartment development on Bagby and McGowen (www.cityplacemidtown.com). I am also breaking ground on five new townhome communities spread out over Rice Military, the Heights and Montrose.Marvy FingerAre you starting anything new this year? I will have two or three projects. One project is bogged down in serious zoning difficulties. I am currently building the Whole Foods at Waugh and West Dallas and the balance of the land will be residential. We are doing market surveys to see if this will be a midrise or a tower. The other is in west LA, close to two of my previous projects.Tom WadleyWhat new projects are you starting this year? Houston’s Inner Loop, Heights and Galleria areas continue to grow. We will begin building 3- and 4-story homes in Washington Court – located in the Rice Military area. As well as Remington Park in the Heights and Asbury Manor near Memorial Park. We’re also opening several communities throughout the Greater Houston Area, and our Build on Your Lot program continues to expand.Dr. Richard WainerdiPresident/CEO /COO | Texas Medical Center |What do you see in 2011? We are nearing completion on 22 construction projects and possibly one new one this year. We are not sure, partially due to the uncertainty in the health care markets.How does that affect TMC?We have just gone from 32,000,000sf to 42,000,000sf which is a 30% increase. We have adequately increased our size to meet our needs. When you compare that to the size of Downtown Business Districts, we currently rank 13th. Our additional square footage should put us in line to be 7th or 8th by 2014 (as long as those Downtown Business Districts haven’t added significant size in the last few years which I don’t think occurred) which is ahead of Dallas, LA, Minneapolis and Cleveland.Ed WulfeWhat is new at your BLVD Center on Post Oak?We have completed phase 1 and it is 100% leased. We are working on plans for phase 2 which will be a 185,000sf expansion anchored by a 48,500sf Whole Foods. There is a significant shift in tenancy in all retail projects to include restaurants, both large and small. They have become mini-anchors as they are expanding and seeing good growth. We plan to have four or five new restaurants in Phase 2, some local – some national.Is residential back in play?We are talking to one high rise rental developer about a site on the property. I am also excited about talks with a hotelier about a boutique property as well.Robert EuryPresident | Central HoustonHow do you see the development market Downtown in 2011?As I look out my office window, I am thrilled by the sight of workers putting the finishing touches on BG Group Place, Hines’ exciting new office tower at Main at Rusk. This is one of several new buildings opening this year including Hess Tower, Embassy Suites Hotel and The Houston Ballet’s Center for Dance. Although demand exists, funding challenges are likely to result in few if any new project starts this year. However, overall we believe that this situation will be short-lived and future prospects are bright.I personally think that Discovery Green has truly created an anchor for not only the Downtown residents but the workers as well. What else is happening along that line?We anxiously await the opening of Phoenicia Specialty Foods in One Park Place this spring. It will be a unique and interesting shopping destination for residents, workers and out-of-town guests alike. Most of all it addresses the often heard question about living downtown: “Where do I buy groceries?” At Phoenicia, of course! If you have not experienced the newly rebuilt Market Square Park, try it out. Our goal was to make this historic location into a park for neighborhood residents including a dog run, lovely green lawn, numerous works of art, floral beds and Niko Niko’s restaurant kiosk. We have high hopes that this jewel will spawn more residential development in Downtown’s Historic District." Link to comment Share on other sites More sharing options...
LTAWACS Posted February 8, 2011 Share Posted February 8, 2011 I sure hope TMC doesnt slow down in building. Link to comment Share on other sites More sharing options...
Al Williams Posted February 9, 2011 Share Posted February 9, 2011 as the baby boomers age, more medical space will be required. TMC will run out of room before demand for space subsides. Link to comment Share on other sites More sharing options...
LTAWACS Posted February 9, 2011 Share Posted February 9, 2011 then its time to annex more. Link to comment Share on other sites More sharing options...
WAZ Posted February 12, 2011 Share Posted February 12, 2011 as the baby boomers age, more medical space will be required. TMC will run out of room before demand for space subsides.I'd be interested to hear what the developers would say about growth in medical space in the TMC, versus medical space out in the suburbs. At first blush, it would seem that there's more room for growth out in the 'burbs. Link to comment Share on other sites More sharing options...
LTAWACS Posted February 12, 2011 Share Posted February 12, 2011 It is true there is more space... but im not sure how the location factor would fit into each institution's strategic plans. Link to comment Share on other sites More sharing options...
dbigtex56 Posted February 13, 2011 Share Posted February 13, 2011 as the baby boomers age, more medical space will be required. TMC will run out of room before demand for space subsides.The Medical Center is a source of pride for Houstonians. It is, after all, the Largest In The World.When the Med Center runs out of space (well... it's already happened), and intrudes on adjacent neighborhoods, the costs of real estate and the impact that this growth will have on the city need to be considered. Patients and government have to consider that bragging rights aren't everything; a price tag is attached.When (not if) we need more medical care, the location isn't vital - affordability is. Pasadena might welcome a new hospital or two, at a lesser price. Link to comment Share on other sites More sharing options...
WAZ Posted February 13, 2011 Share Posted February 13, 2011 It is true there is more space... but im not sure how the location factor would fit into each institution's strategic plans.The Medical Center is a source of pride for Houstonians. It is, after all, the Largest In The World.When the Med Center runs out of space (well... it's already happened), and intrudes on adjacent neighborhoods, the costs of real estate and the impact that this growth will have on the city need to be considered. Patients and government have to consider that bragging rights aren't everything; a price tag is attached.When (not if) we need more medical care, the location isn't vital - affordability is. Pasadena might welcome a new hospital or two, at a lesser price.Nothing's preventing hospitals from having flagship locations in the TMC, and satellite facilities all over Houston and its suburbs. Memorial Hermann already does; Methodist, too. and the Harris County Hospital District.I think from a hospital's standpoint, it's not an 'either or' question. The question I had for developers was, what do we expect from a base numbers standpoint? Will the TMC have more hospital development? Or will the suburbs? My money's still on the 'burbs. But I am a young architect; not a seasoned developer and real-estate guru. Link to comment Share on other sites More sharing options...
TheNiche Posted February 13, 2011 Share Posted February 13, 2011 Nothing's preventing hospitals from having flagship locations in the TMC, and satellite facilities all over Houston and its suburbs. Memorial Hermann already does; Methodist, too. and the Harris County Hospital District.I think from a hospital's standpoint, it's not an 'either or' question. The question I had for developers was, what do we expect from a base numbers standpoint? Will the TMC have more hospital development? Or will the suburbs? My money's still on the 'burbs. But I am a young architect; not a seasoned developer and real-estate guru.That's my cue, I suppose.At the end of the real estate boom (early 2007), only one household was created in the Inner Loop for every 22 households created outside of the Inner Loop; however, growth at the TMC remained disproportionate to suburban hospital growth. This is the case because most of the growth in the TMC is oriented toward specialized treatment and research, whereas hospitals and medical offices being built in the suburbs provide more generalized services and close-proximity lower-level emergency care.Because they do different things--and to the extent that there is overlap, the TMC does a different kind of the same thing--there is plenty of room for growth in both urban and suburban locations.I don't care to attempt to forecast base numbers, though. I keep a pair of 3" crystal balls in a netted sack in my desk drawer at work and whip 'em out when people ask questions like that. My balls have been rubbed by many but yielded answers to few. Link to comment Share on other sites More sharing options...
DrLan34 Posted March 13, 2011 Author Share Posted March 13, 2011 http://www.rednews.c...er-2010-report/ summary report on the office market Link to comment Share on other sites More sharing options...
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