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Skyhouse Houston II: Multifamily At 1044 Jefferson St.


lockmat

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Agreed. Skyhouse isn't stunning, but it is a major plus in my book.

1. Wiped out some empty space

2. Added residential to downtown

3. Room for retail

4. Uplifted the street scape on main.

Not every building needs to be an award winning Pennzoil Place (although one every few years would be nice), but pleasant buildings like skyhouse adds a lot to downtown even though they get many things wrong

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To me, the less green space on the same site as the building, the better.

Put it in an entire block or don't put it all.

Go to NYC and you don't have green strips of grass in front of buildings. The less grass, the more urban it feels. Add some trees, but stay away from the grass. Keep out the flowers.

Make the sidewalks bigger. Keep the parking lots out and build as close to the street as possible and you have the start of a great urban place.

 

Agreed. the strips of grass next to the road are a suburban architecture element, that work to separate the building from the street level. I dont mind it as much if  the grass hugs the building, but against the street, not a fan. 

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If we had the density and pedestrian traffic of Midtown Manhattan it would be different, but I feel the small tracts of green space are a benefit to an urban environment. They can always be removed or reduced if they become an impediment to heavy pedestrian traffic.

 

The only downside I see is the potential for Grackles to use the mature trees as a launching point to attack pedestrians.

http://www.chron.com/life/article/Aggressive-grackles-ruffling-feathers-downtown-1923981.php

 

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If we had the density and pedestrian traffic of Midtown Manhattan it would be different, but I feel the small tracts of green space are a benefit to an urban environment. They can always be removed or reduced if they become an impediment to heavy pedestrian traffic.

The only downside I see is the potential for Grackles to use the mature trees as a launching point to attack pedestrians.

http://www.chron.com/life/article/Aggressive-grackles-ruffling-feathers-downtown-1923981.php

Beware of the GRACKLE.
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  • 5 months later...

http://blog.chron.com/primeproperty/2015/04/skyhouse-houston-offers-rebate-to-lure-tenants/#21137101=0

 

Not sure if this means much, but the existing SkyHouse is offering incentives to try to get more residents. Sounds like this is common these days, so hopefully it's not a sign that they are struggling to attract tenants. Apparently they are at 40% occupancy right now.

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I've said it before, I'll say it again. The downtown living initiative needs a marketing campaign on billboards and stuff in certain areas around town. Target the empty nesters, wealthy young professionals, and people just looking for a more urban lifestyle.

We're about to almost triple the amount of housing in downtown. Yes there is some demand for it but they need to show people that downtown is an attractive, fun, hip area to live.

Edited by cloud713
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http://blog.chron.com/primeproperty/2015/04/skyhouse-houston-offers-rebate-to-lure-tenants/#21137101=0

 

Not sure if this means much, but the existing SkyHouse is offering incentives to try to get more residents. Sounds like this is common these days, so hopefully it's not a sign that they are struggling to attract tenants. Apparently they are at 40% occupancy right now.

 

The incentives are back. They had ended in 2012 when the market got really tight. Hard to tell if the 5% vacancy rate has become 10%.

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I'm just saying if its taking this long to fill up one tower (apparently it's on average pace, but it's the first residential units downtown in how many years?), imagine what will happen when multiple residential projects start delivering.. I'm afraid that unless we raise awareness on downtown living, these apartments might not lease up as fast as some developers would like. Maybe I'm just being pessimistic, but if I'm about to have 4,000+ new apartments built in my downtown and the first project (which delivered in July 2014) is only 40% full, I would be a little concerned. Those apartments should be being snatched up left and right, but I don't think many Houstonians see downtown as a livable neighborhood yet. By this time next year another 1,400 apartments will be ready (by comparison, SkyHouse Houston added 336 additional units to the downtown market). But will we as Houstonians be ready?

Sorry for the pessimistic post. Maybe I just need sleep, but that report kind of concerned me.

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I'm optimistic the new apartment towers will fill up once they come on board and I'm sure downtown will begin a marketing campaign to promote a new downtown once they begin to deliver. Skyhouse was the very first one to open from the initiative and its in a part of downtown that still has a way to go. The two market square towers, Texaco building, and the two complexes next to Minute Maid I believe will fill up quicker since there's more foot traffic and things to do nearby. One Park Place opened back in 2008 and it has been full ever since. 

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No apartment building is full just months after fully opening. While Sky House opened in July, it opened in stages. Only folks on the lower floors could move-in originally. Again, 40% occupancy a few months after the entire building opened in a high-end tower isn't out of the norm. There's a reason why they've decided to build 330+ more units directly across the street and it isn't because they are stupid and love risking tens of millions of dollars.

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