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One Market Square: Proposed Office Tower For Block 43 - 800 Preston St.


lockmat

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  • 2 weeks later...

Really excited for this project and bringing more people downtown.  In addition to having some revenue on the block, this is probably a move by the Developer to have some of the site work done to entice larger companies - similar to Capitol Tower.  There are 1-3 tenants in, or about to be in, the market that could lead tenant a brand new building. Good things ahead for this side of downtown.

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38 minutes ago, CREguy13 said:

Really excited for this project and bringing more people downtown.  In addition to having some revenue on the block, this is probably a move by the Developer to have some of the site work done to entice larger companies - similar to Capitol Tower.  There are 1-3 tenants in, or about to be in, the market that could lead tenant a brand new building. Good things ahead for this side of downtown.

 

1-3 tenants in/about to be in the market... looking to relocate from other downtown buildings?

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Yes, Large tenants that are exploring other options.  Like V&E for example:

 

"The firm's lease expires in 2021. But in a few weeks, Vinson & Elkins will begin meeting with brokers associated with some of downtown Houston's newer buildings, including Hines' 609 Main and projects that haven't even broken ground yet, Vinson & Elkins COO Tim Armstrong said."

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I know of one energy company moving downtown later in the 4th quarter of this year. My friend that works there is so excited. They used to be downtown about 8 years ago but moved out to the BFEnergy Corridor. She's told me the feedback from the employees was universally negative about their experience (traffic, no commuting options, and lack of lunch options because everything requires a car other than food truck Wednesdays). Sadly, it's not a big firm but hoping there's some push back from workers. 

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On June 2, 2017 at 9:35 AM, adr said:

34241290563_ba24e5dfdc_b.jpg

 

For a perspective of how this building will fit into the neighborhood, the yellow crane you see is at the west end of the lot. 

On a completely off topic the wall of this garage in the foreground sure looks nice as it fills in with the greenery. It sure softens the view from the harsh concrete wall. Kudos to whoever planned it. This should be a requirement for every garage that doesn't support GFR. At least then they would be helping to create a more positive public realm. Come on city planners. Do your job and plan some good things for the people who are trying to make downtown more environmentally friendly.

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1 hour ago, KinkaidAlum said:

I know of one energy company moving downtown later in the 4th quarter of this year. My friend that works there is so excited. They used to be downtown about 8 years ago but moved out to the BFEnergy Corridor. She's told me the feedback from the employees was universally negative about their experience (traffic, no commuting options, and lack of lunch options because everything requires a car other than food truck Wednesdays). Sadly, it's not a big firm but hoping there's some push back from workers. 

 

I think that this is the shape of things to come. The people in management making these decisions in most companies are still baby boomers who prefer the suburbs, but as the younger generation moves into management, I think there will be a longterm shift to downtown.

 

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  • 3 weeks later...
  • 3 weeks later...
1 hour ago, ArtNsf said:

Certainly "looks" like something hi-rise and major in the works on this site to me, but alas, probably yet another underground parking lot, or what not and so forth...

 

The tower is supposed to go up where the parking lot currently is. Until dirt moves there, this is only a parking garage (with possible future intentions). It's Skanska 2.0 so pray for tenant. 

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10 minutes ago, tigereye said:

 

The tower is supposed to go up where the parking lot currently is. Until dirt moves there, this is only a parking garage (with possible future intentions). It's Skanska 2.0 so pray for tenant. 

 

In my industry, there is alot of truth to 'if you build it they will come'. But more so like this: If you build it FIRST, you will be rewarded for your bullish strategy.

 

Skanska had a lot of press how they laid the foundation for the tower... and how they were ready for their tenant... This tower needs the same press. It doesnt look like they are making much press, yet. If this tower does go up, it will essentially validate that this is a new but proven strategy for spec towers... I hope Houston Center 6 and Allen 5 take a hint...

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4 hours ago, Avossos said:

Skanska had a lot of press how they laid the foundation for the tower... and how they were ready for their tenant... This tower needs the same press. It doesnt look like they are making much press, yet. If this tower does go up, it will essentially validate that this is a new but proven strategy for spec towers... I hope Houston Center 6 and Allen 5 take a hint...

 

I want to see this tower happen. Maybe we help create the news on the parking garage for Essex lol

 

 

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I made the mistake of walking through the barricaded/covered "sidewalk" along Prairie on the left side of the above photo the other day. The relative privacy afforded by all the screens made the area a block long bum latrine. Getting literal shit off the streets should be a priority around this area, it's got so much upside.

Edited by Nate99
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