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Aris At Market Square: 32-Story High-Rise At 409 Travis St.


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8 hours ago, Sunstar said:

 

Any possibility for some retail there?

 

Come to think of it, it seemed that all the early renderings indicated street retail, but the finished product doesn't seem to make much provision for it, nor have we heard anything about leasing. I wonder if the promised allotment of retail will all be taken up by the chef's hall, buried inside the building? I don't mean to panic prematurely, but the same thing happened with BG Group Place, where early press mentioned ground floor retail, but the retail when it came was all inside.

 

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On 9/30/2017 at 8:16 PM, H-Town Man said:

 

Come to think of it, it seemed that all the early renderings indicated street retail, but the finished product doesn't seem to make much provision for it, nor have we heard anything about leasing. I wonder if the promised allotment of retail will all be taken up by the chef's hall, buried inside the building? I don't mean to panic prematurely, but the same thing happened with BG Group Place, where early press mentioned ground floor retail, but the retail when it came was all inside.

 

 

What makes you think the Chef's Hall will be buried inside the building?  My understanding is that the Chef's Hall indeed takes all of the retail space, but it is in no way buried inside the building.  

Edited by Houston19514
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The chef's hall takes up the northern portion of the building, with windows onto Preston and Travis.

 

Regarding BG, the retail space along Main was vacant for quite some time until Frost Bank moved into it.

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4 hours ago, Houston19514 said:

 

What makes you think the Chef's Hall will be buried inside the building?  My understanding is that the Chef's Hall indeed takes all of the retail space, but it is in in way buried inside the building.  

 

I read something that gave me the impression that it opened up onto the patio space fronting Main, which made me think it did not extend from there all the way to the street. Thanks for clearing that up everyone.

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  • 1 month later...
  • 3 weeks later...
On ‎11‎/‎22‎/‎2017 at 2:12 AM, CrockpotandGravel said:

Posted last week to Instagram by Aris Market Square of the private park:

FtSlftw.jpg
https://www.instagram.com/p/BbX_FIwA9ts

 

 

So weird to have a fenced private park when there is a public park right across the street at Market Square. Even at our most urban, we still have the Southern country club mentality.

 

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I would say this is more like a private courtyard, lol. It sounds like it will also serve the food hall. 

 

You ever heard of Gramercy Park? That is a fenced in private park in the northeast's most urban city with other parks/plazas all around it. 

Edited by urbanize713
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On ‎12‎/‎7‎/‎2017 at 9:59 AM, urbanize713 said:

I would say this is more like a private courtyard, lol. It sounds like it will also serve the food hall. 

 

You ever heard of Gramercy Park? That is a fenced in private park in the northeast's most urban city with other parks/plazas all around it. 

 

Yeah, and there's fenced private parks in London too, none of which anyone would really consider the height of urbanism. More of a vestige of aristocracy (like Southern country clubs). A "Victorian gentleman that has refused to die," as the NY Times once termed Gramercy.

 

Edited by H-Town Man
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5 hours ago, H-Town Man said:

 

Yeah, and there's fenced private parks in London too, none of which anyone would really consider the height of urbanism. More of a vestige of aristocracy (like Southern country clubs). A "Victorian gentleman that has refused to die," as the NY Times once termed Gramercy.

 

So some of the most of the urban cities in the world have private parks? Awesome, it sounds like we are finally getting there! Though I hold my ground this is more like a courtyard, lol. 

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1 hour ago, urbanize713 said:

So some of the most of the urban cities in the world have private parks? Awesome, it sounds like we are finally getting there! Though I hold my ground this is more like a courtyard, lol. 

 

Hines considers it a private park on their website, but you keep holding your ground and calling it a courtyard, lol. When we "get there" is probably around the time when Hines will decide that the highest and best use of land on Main Street is something other than a fenced park.

 

Edited by H-Town Man
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1 hour ago, H-Town Man said:

 

Hines considers it a private park on their website, but you keep holding your ground and calling it a courtyard, lol. When we "get there" is probably around the time when Hines will decide that the highest and best use of land on Main Street is something other than a fenced park.

 

Man you are really trying. Are you telling me that marketing brochures and websites would never ever aggrandize amenities/features? Please 

 

This is one of if not the priciest addresses  downtown. If it didn’t include at least a private sidewalk called a private park to walk someone’s  shih tzu i’d be shocked.

 

You can keep going on and on  but I just called you out on saying this was anti urban even though the most urban cities in the work have similar features end of story. 

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  • 3 weeks later...
On 12/24/2017 at 9:49 AM, CrockpotandGravel said:

Here's the floor plan for Bravery Chef Hall, the fall hall inside Aris at Market Square at 409 Travis in downtown Houston.

itIbcvn.jpg
From NextSeed

 

Interesting... looks like the door to the women's room is outside... :ph34r:

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  • 2 months later...

From Nancy's article yesterday:

 

Quote

Aris Market Square is advertising three months free rent with a 13-month lease. Catalyst, near Minute Maid Park, is offering up to two months free. Alexan Downtown and Block 334 is giving two months free prorated throughout the term of a lease.

https://www.chron.com/business/real-estate/article/Short-term-renters-moving-out-of-apartments-six-12724143.php

 

Wow, I didn't know residential demand was that poor in downtown. Hopefully it picks up soon. 

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52 minutes ago, 102IAHexpress said:

From Nancy's article yesterday:

 

https://www.chron.com/business/real-estate/article/Short-term-renters-moving-out-of-apartments-six-12724143.php

 

Wow, I didn't know residential demand was that poor in downtown. Hopefully it picks up soon. 

I wouldn't be too concerned. It's been that way for over a year now throughout Houston. When Market Square Tower opened it was offering a really sweet deal of 1/2 rent for a year with a two year lease (prorated). Broadstone Skyline was also offering 2 months free when it opened about a year ago. Similar deals were being offered in Uptown. I wouldn't say residential demand is poor, there's just a lot of options for renters right now and leasing agents are under pressure to get occupancy up on new builds. 

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1 hour ago, 102IAHexpress said:

From Nancy's article yesterday:

 

https://www.chron.com/business/real-estate/article/Short-term-renters-moving-out-of-apartments-six-12724143.php

 

Wow, I didn't know residential demand was that poor in downtown. Hopefully it picks up soon. 

 

I think it's part of a lot of supply coming online but the overall occupancy and rates seem to be strong. The below is a link to Transwestern's 2017 YE residential report. Some highlights:

  • As of YE 2017, there were 23 apartment buildings in Downtown with 5,951 units
  • Occupancy was 67.1% which is on the low side but think it is due to how many recent openings there have been. Downtown absorbed 1,086 units in 2017
    • Compare this to YE 2016: 4,819 units open, occupancy of 58.4%
    • This means that 1,132 new units opened in 2017 but occupancy increased by 8.7% 
  • Average effective rent is $1,978 and rent / square foot is $2.05. This is 12% higher than Midtown/Montrose/Museum. I think it is a good indicator that rents are higher Downtown than anywhere else in the city
  • https://assets.recenter.tamu.edu/Documents/MktResearch/Houston-Multifamily-TranswesternOutlook.pdf
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