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Market Square Tower: 40-Story High-Rise At 777 Preston St.


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14 hours ago, kbates2 said:

Went today.  They didn’t end up doing the produce section so it is a pretty standard CVS.  That said, we have been a desert over here so this is a massive addition.

I am surprised that they didn’t do the “produce thing”.......

 

CVS is buying one of the health insurers and their pitch to wall street includes that they will use their retail stores as “neighborhood health centers”..... when I heard that, I immediately thought of this store’s concept.......   

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12 hours ago, Twinsanity02 said:

Just wondering the demographics necessary to open a grocery store. With all the apartments, lofts etc in this area, not to mention the level of affluence It would be surprising if one doesn't open and soon.

 

Well we have Phoenicia? But I guess you mean west of Main street? For a traditional grocery store you need a lot more people than what downtown west of main street has. You also need a lot of families, which all of downtown has very little of. Families comprise the regular weekly shoppers that grocery stores needs. I lived at Rice lofts for several years, I don't think i ever saw one family living there. 

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1 hour ago, cspwal said:

There seem to be a surprising number of families living in SkyHouse and Houston House

 

Really. I didn't know that. I know those properties are mostly studio, one bedroom and two bedrooms. Does the newest skyhouse have any three bedrooms? I don't know? Though, I would imagine most families living at those properties will need more space than that as their families grow. 

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2 hours ago, 102IAHexpress said:

 

Really. I didn't know that. I know those properties are mostly studio, one bedroom and two bedrooms. Does the newest skyhouse have any three bedrooms? I don't know? Though, I would imagine most families living at those properties will need more space than that as their families grow. 

 

I'm not sure on the floor plans for Houston House or Block 334, but Skyhouse has at least 2 2 bedrooms on most of the floors, and the bottom floors also have 3 bedroom apartments.

 

Also a certain Rockets player lives in one of lower floor apartments :ph34r:

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  • 3 weeks later...

"The leasing milestone, reached in December, shaved three months off Woodbranch Investments Corp.’s projected 15-month timeline and signals downtown is no longer limited to 9-to-5 office workers and theater goers. Bars and restaurants, food halls and parks are catering to a growing population, thanks to incentives provided by the Downtown Living Initiative.

“I really enjoy the way downtown is coming back,” Woodbranch Investments CEO Philip Schneidau said. “In the evening, people are walking around in Discovery Green, and Market Square Park. It’s really getting to be a nice neighborhood feel to it after hours, versus the business feel during the day.”

Downtown has grown to about 6,000 residential units, up from 2,500 at the start of 2014, according to the Central Houston and the Downtown District."

 

Almost goes without saying that the downtown living initiative really spurred some of these developments. What are the chances of there being a second round? 

Edited by Vy65
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39 minutes ago, Houston19514 said:

 

Hopefully, we have reached the point where a second round won't be necessary.  

 

Maybe, but I wonder how much the process would be accelerated if a second round were done. I don't really see a problem with pushing right to the tipping point, but I could be wrong.

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38 minutes ago, Houston19514 said:

 

Hopefully, we have reached the point where a second round won't be necessary.  

 

Agreed.  I hope that if Aris fills up quickly, we will get another MSP area high-rise announcement soon.  One of Hines' spots, the Intl Tower spot, the lot next to the ballet center, and the lot with the chase bank drive through are all pretty key.

 

A bit further away, but I still think that the northeast corner of Main and Prairie could be a fantastic spot for a massive mixed-use project.

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2 hours ago, kbates2 said:

 

Agreed.  I hope that if Aris fills up quickly, we will get another MSP area high-rise announcement soon.  One of Hines' spots, the Intl Tower spot, the lot next to the ballet center, and the lot with the chase bank drive through are all pretty key.

 

A bit further away, but I still think that the northeast corner of Main and Prairie could be a fantastic spot for a massive mixed-use project.

 

This lot is my favorite undeveloped lot downtown right now. Hopefully a huge mixed use project gets built here as you mentioned.

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How much of the 32.9% vacancy has to do with The Catalyst, Alexan, Aris, Eighteen25, and 1711 Caroline just opening toward the end of last year? I can't imagine if downtown was doing so poorly that the new high rise across from Marriott Marquis and Camden's new high rise would have given their construction the green light. My balcony faces the Catalyst and I've noticed in the past month more people moving in so it will be interesting to revisit these numbers later in the year.

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https://www.bizjournals.com/houston/news/2018/04/11/downtownhouston-s-tallest-residential-tower-to-add.html

 



Downtown Houston’s tallest residential tower is adding a restaurant to its mix.

Coterie will open this summer in a 1,500-square-foot space inside Market Square Tower, a 40-story apartment tower in downtown Houston, according to the press release. It’s the tower's second retail tenant announced so far. 

 

The release describes Coterie as “deliberately personal and uniquely Houston,” and it will “mirror the energy of downtown Houston’s resurgence.”

The concept's furniture and fixtures will be handmade in Italy, while locally sourced light fixtures will hang from 20-foot ceilings, per the release. The interior will be accented with leather, fabric, metal and wood. At the center of the restaurant, there will be a wine cellar where guests can walk in and select a bottle with their server. 

Additionally, the menu will offer a wide variety of dishes — from breakfast to late-night meals — that will include seasonal items.

 

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