Parkside Residences: 43-Story Residential High-Rise At 808 Crawford St.

[H-Town Man]

4 minutes ago, thatguysly said:

 

I think some may come around but seems like it has been very quiet lately. Though this one came out of almost no where. I really hope Shanska happens. I just feel like we might hit a lull until the next wave. A lot of companies are hitting pause with COVID. I hope I am wrong and some race to beat others to open like you see on Allen. I just feel like the list you listed was always more of hopes instead of expected to happen.

 

I think Skanska bought that site for the long run and it's just a question of when they can develop. I don't expect much office development in Houston in the next 5 years, except for some small projects that cannibalize older buildings for their tenants. With multi-family I think we're in the middle of a slowdown (but not a halt) and the pandemic will determine how long and bad that slowdown is. Retail I also think will be minimal for the foreseeable future except for some limited stuff inside larger developments.

 

[Visitor]

1 hour ago, H-Town Man said:

 

I think Skanska bought that site for the long run and it's just a question of when they can develop. I don't expect much office development in Houston in the next 5 years, except for some small projects that cannibalize older buildings for their tenants. With multi-family I think we're in the middle of a slowdown (but not a halt) and the pandemic will determine how long and bad that slowdown is. Retail I also think will be minimal for the foreseeable future except for some limited stuff inside larger developments.

 

So that pretty much covers everything except industrial and hotels 😕. Covid is really making an impact.

 

This section is going to be rough.

[H-Town Man]

2 hours ago, Visitor said:

So that pretty much covers everything except industrial and hotels 😕. Covid is really making an impact.

 

This section is going to be rough.

 

Industrial is the best sector right now, hotels are the worst.

 

[CREguy13]

Costar Article:

 

New 43-Story Apartment Tower to Rise in Downtown Houston

Trammell Crow's High Street Residential Breaks Ground Near Discovery Green

A street view of High Street Residential's planned new apartment skyscraper in downtown Houston. (High Street Residential/Trammell Crow Co.)

By Marissa Luck
CoStar News

July 20, 2020 | 06:33 P.M.

 

A Trammell Crow subsidiary is transforming a former parking lot into a 43-story luxury apartment tower in downtown Houston.

 

High Street Residential, a subsidiary of Trammell Crow, has broken ground on the skyscraper at 808 Crawford St., the companies announced this week.

 

Construction on the 309-unit apartment tower is expected to be complete in late 2022. The project is called Block 98 in planning and permitting documents but a formal project name is forthcoming, according to High Street Residential. Development costs were not disclosed.

 

The property at 808 Crawford St. currently consists of a surface level parking lot adjacent to Discovery Green, a bustling 12-acre urban park often booked with events and activities. The apartment skyscraper is being built diagonally on the same block as Hess Tower, a 29-story office building at 1501 McKinney St. that Trammell Crow developed in 2011, the same year it sold it to Toronto-based H&R Real Estate Investment Trust for $442.5 million.

 

The Trammell Crow project is less than a mile away from where global developer Hines is concurrently building an apartment tower and office skyscraper diagonally on the same block. Hines' 46-story apartment skyscraper called The Preston is at 414 Milam St. and its 47-story office tower known as Texas Tower should be completed next year.

 

Trammell Crow's apartment tower is expected to be the only residential skyscraper downtown with direct access to the Houston tunnel system, providing residents with all-weather access to most of downtown’s major employers, according to High Street Residential.

 

An aerial view of the planned apartment tower at 808 Crawford Street across the street from Marriott Marquis Houston with its Texas-shaped rooftop pool visible. (High Street Residential)

High Street Residential is targeting high-end renters including empty nesters, working professionals and anyone seeking an urban, walkable living experience, said Jim Casey, senior managing director at High Street Residential, in an email.

 

The project comes at a time when Houston is seeing substantial growth in new luxury apartment construction even as the pandemic is expected to dampen demand in the medium term, according to CoStar analysts. There are about 25,804 apartment units under construction in the Houston area, close to the level of activity seen in recent peaks, according to CoStar analysts. About 90% of these new apartment units are luxury projects targeting high-end renters, according to CoStar. That means any new luxury project will face stiff competition.

 

The project will offer a mix of one-, two- and three-bedroom apartment units with 16 townhome-style units, each two stories, on the 15th-34th floors. The tower will also have four two-story penthouses on the 41st floor. The apartments are designed with nine- to 10-foot ceiling heights, floor-to-ceiling windows, blackout shades, kitchens with gas ranges and quartz countertops, European-made custom cabinetry, “spa-like” bathroom features and spacious custom closets, according to High Street Residential.

 

The project includes 420 parking spots on levels 2-12, Casey said.

 

Plans for the tower include three amenity levels, including a rooftop pool with indoor and outdoor lounge areas and a cantilevered observation deck more than 430 feet above street level. Planned amenities on the 14th floor include an enhanced work-from-home center offering conference rooms and offices, a lounge and club room, catering kitchen, fitness center, two guest suites, an outdoor fireplace and a yoga terrace.

 

Residents are expected to have access to a covered dog run and pet grooming area, valet and concierge services.

 

The Discovery Green area could see more redevelopment in the future after Skanska USA bought a 3.5-acre city block nearby in October.

 

For the Record

The construction loan for Trammell Crow's project at 808 Crawford St. was provided by Sumitomo Mitsui Trust Bank Ltd. Ziegler Cooper Architects is the project’s architect, while Andres Construction is the general contractor. Other design partners include Walter P Moore, SCA Consulting Engineers, Kudela & Weinheimer, Wylie Consulting Engineers, and Waldrop + Nichols.

Edited July 21, 2020 by CREguy13

[Triton]

Wow Pacos Jones with the rendering back on May 5th.

[X.R.]

1 hour ago, CREguy13 said:

There are about 25,804 apartment units under construction in the Houston area, close to the level of activity seen in recent peaks, according to CoStar analysts. About 90% of these new apartment units are luxury projects targeting high-end renters, according to CoStar.

 

that is an incredible statistic. I don't know if 25k units is a lot to be under construction, but 90% of them being luxury to me sounds crazy high. The townhome style units sound pretty amazing, as does have direct access to the tunnels. Thats a bit of a coup for them I would think. If I worked downtown and had the cash, I would love to be"walking home" in the tunnels. Could never have imagined that 10 years ago.

 

This, the preston,the mid-rise going in on the west side of downtown (fairfield), and the remodeling of the Houston Center/the shops are big wins despite the medium-term effects of the economy/COVID, as the article describes it. 

[thatguysly]

9 hours ago, X.R. said:

 

that is an incredible statistic. I don't know if 25k units is a lot to be under construction, but 90% of them being luxury to me sounds crazy high. The townhome style units sound pretty amazing, as does have direct access to the tunnels. Thats a bit of a coup for them I would think. If I worked downtown and had the cash, I would love to be"walking home" in the tunnels. Could never have imagined that 10 years ago.

 

This, the preston,the mid-rise going in on the west side of downtown (fairfield), and the remodeling of the Houston Center/the shops are big wins despite the medium-term effects of the economy/COVID, as the article describes it. 

 

Connecting to the tunnels is awesome

[Houston19514]

I had thought they might also connect via skywalk to the Marriott Marquis, and do a deal with the hotel to offer room service to the apartment tower.

[Triton]

What speaks so much about this side of town is how nearly all of this was either built or renovated within the past 10 years.

 

 

 

 

 

 

[Paco Jones]

4 hours ago, thatguysly said:

 

Connecting to the tunnels is awesome

1 hour ago, Houston19514 said:

I had thought they might also connect via skywalk to the Marriott Marquis, and do a deal with the hotel to offer room service to the apartment tower.

 

There will be a level 3 connection through Hess garage by the pedestrian sky bridge that connects to Hess tower. The building itself won't have direct connection to the tunnel system. 

[Luminare]

On 7/20/2020 at 11:21 PM, X.R. said:

 

that is an incredible statistic. I don't know if 25k units is a lot to be under construction, but 90% of them being luxury to me sounds crazy high. The townhome style units sound pretty amazing, as does have direct access to the tunnels. Thats a bit of a coup for them I would think. If I worked downtown and had the cash, I would love to be"walking home" in the tunnels. Could never have imagined that 10 years ago.

 

This, the preston,the mid-rise going in on the west side of downtown (fairfield), and the remodeling of the Houston Center/the shops are big wins despite the medium-term effects of the economy/COVID, as the article describes it. 

 

Actually the more incredible statistic is 25k older units that are going to now be at a cheaper price than the newer luxury units will soon be available to those who originally couldn't afford them. You build luxury units because they are easier to get money for, and you will get a better return on the investment. People with money are always looking to move up to the next best thing. People with money will spend the money. This is why you build for those kinds of clients, and that movement by those who go to the newer units does have a profound effect that allows more access for those with less means to have access to areas they couldn't before. So if you are concerned even a little that the initial statistic, think about what isn't being said. There are meta numbers underneath that matter the same if not more. Plenty stand to benefit with more luxury units being built and its not just the people that can afford the newer stuff.

[Highrise Tower]

 

[MarathonMan]

[Urbannizer]

[Highrise Tower]

 

[zaphod]

I would hope that as the residential population of downtown goes up maybe this side could get some kind of convenient grocery. I wonder if Aldi has ever tried an urban format.

[kbates2]

This is like 3 blocks from Phoenicia.

[ZRFkris]

Still, an urban HEB downtown would be amazing 👀 

[monarch]

^^^ now THIS is what i want to see DOWNTOWN HOUSTON.  although, i LOVE me some PHOENICIA MARKET as well...

[kbates2]

Urban H‑E‑B should go by market square area, lots of residents there.

[Avossos]

2 hours ago, kbates2 said:

Urban H‑E‑B should go by market square area, lots of residents there.

 

Post Houston should be a market... but will it have things like a grocery? or more clothing? I'd hope market square people can walk over to post...

[TheSirDingle]

Couldn't get any pics, but they're digging real deep on this one. I'm saying it's already a floor and a half down. 

[Highrise Tower]

 

[enriquewx91]

Im still pinching myself that this is actually going up

[cspwal]

I still don't trust it - it might just be a parking lot improvement.  I won't believe it until I see a banner for 3 months free rent

[Bassclef]

 True

[hindesky]

Walker is to be closed for crane placement this weekend.

 

Walker between Crawford and La Branch
Saturday, August 15 from 7 AM to 9 PM
Closed for placement of a crane
Detour – Right on Crawford, left on Capitol, left on La Branch
Contact: Andres Construction, Jack Koppe, 214-521-2118

[hindesky]

https://www.andresconstruction.com

[Yoda]

47 minutes ago, hindesky said:

https://www.andresconstruction.com

 

The first picture on this website is of Deep Ellum in Dallas. It brings back great memories of college when I lived in Downtown Dallas in the Farmers Market District. I would walk into Deep Ellum nearly every day and there was always SO much to do. East Downtown is similar but not nearly as developed as Deep Ellum, while Montrose has a similar vibe but is not as urban. Deep Ellum is the one thing I feel Dallas has over Houston and I wish we could develop something to that level.

 

Anyway, excited for Block 98. Nice to see more high rise residential downtown.

[H-Town Man]

13 hours ago, Yoda said:

 

The first picture on this website is of Deep Ellum in Dallas. It brings back great memories of college when I lived in Downtown Dallas in the Farmers Market District. I would walk into Deep Ellum nearly every day and there was always SO much to do. East Downtown is similar but not nearly as developed as Deep Ellum, while Montrose has a similar vibe but is not as urban. Deep Ellum is the one thing I feel Dallas has over Houston and I wish we could develop something to that level.

 

Anyway, excited for Block 98. Nice to see more high rise residential downtown.

 

I think generally our downtown is better, their neighborhoods around downtown are better.