Popular Post hindesky Posted February 17, 2019 Popular Post Share Posted February 17, 2019 I noticed the jacking section near the top and the ramp early in my ride, I thought they are starting to bring the tower crane down. Went by later during my ride and saw the Heede trucks and the guys at the climber so it's definitely coming down this week. Main St is blocked from traffic northbound. 11 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted February 18, 2019 Share Posted February 18, 2019 Checked to see if there were a leasing website for 2850 Fannin and still could not find one. However, I noticed Caydon refers to the 357 units at 2850 Fannin as “condominiums.” They then go on to reference the project as apartments. I’d wondered about presales to get financing for the northern portion of the project, but, it seems the term “condominium” might be used loosely on the website, giving me hope there might be a multifamily component to jumpstart construction on the northern towers. 1 Quote Link to comment Share on other sites More sharing options...
shasta Posted February 18, 2019 Share Posted February 18, 2019 14 hours ago, houstontexasjack said: Checked to see if there were a leasing website for 2850 Fannin and still could not find one. However, I noticed Caydon refers to the 357 units at 2850 Fannin as “condominiums.” They then go on to reference the project as apartments. I’d wondered about presales to get financing for the northern portion of the project, but, it seems the term “condominium” might be used loosely on the website, giving me hope there might be a multifamily component to jumpstart construction on the northern towers. I wonder if they have a figure in mind for the price of the condos and more importantly, the monthly maintenance fee. 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 18, 2019 Share Posted February 18, 2019 I think this is going to be rentals. My impression is that, to the extent they use the word "condominium" at all in Australia, it does not necessarily mean ownership as it does to us here in the US. 3 1 Quote Link to comment Share on other sites More sharing options...
Timoric Posted February 19, 2019 Share Posted February 19, 2019 (edited) - Edited July 12, 2019 by Timoric 3 6 Quote Link to comment Share on other sites More sharing options...
Specwriter Posted February 21, 2019 Share Posted February 21, 2019 On 2019-02-19 at 8:41 AM, Timoric said: What do they call a knife? Crocodile Dundee called it a [noy-ff] as in "Now that's a noy-ff." 2 1 Quote Link to comment Share on other sites More sharing options...
swtsig Posted February 22, 2019 Share Posted February 22, 2019 On 2/19/2019 at 8:41 AM, Timoric said: What do they call a knife? that's not a knife, that's a spoon! 1 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted February 23, 2019 Popular Post Share Posted February 23, 2019 Tower crane almost down. 13 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted February 24, 2019 Popular Post Share Posted February 24, 2019 11 Quote Link to comment Share on other sites More sharing options...
Popular Post Highrise Tower Posted February 26, 2019 Popular Post Share Posted February 26, 2019 My dad and Dixie went to Midtown on Sunday to look at her art. My dad was texting me, so I told him to stop by Caydon 11 Quote Link to comment Share on other sites More sharing options...
Brooklyn173 Posted February 26, 2019 Share Posted February 26, 2019 With the in ground sidewalk lights, the artwork looks great at night too. 3 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted February 26, 2019 Popular Post Share Posted February 26, 2019 This is the Caydon design planned for San Diego. Their properties have a great aesthetic! Hopefully they’re still planning for The District I and II to push the design envelope in Houston. EDIT: Renderings removed at the demand of Large arts in Collingwood, Australia. —Editor 21 Quote Link to comment Share on other sites More sharing options...
Popular Post nate4l1f3 Posted March 2, 2019 Popular Post Share Posted March 2, 2019 10 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted March 4, 2019 Share Posted March 4, 2019 5 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted March 4, 2019 Author Popular Post Share Posted March 4, 2019 “There is a rising demand for condos,” Caydon Property Group Chief Operations Officer Derrick Lerouax said. “It is an appreciating asset and we think people are going to be interested in it.” Caydon, a big-time condo developer in its home country of Australia, is constructing The Midtown, a 357-unit high-rise multifamily complex in Midtown. In a future phase of the mixed-use development spanning over three city blocks, the developer plans to add condos along with restaurants and bars. Read more at: https://www.bisnow.com/houston/news/multifamily/condos-interest-spiking-despite-sales-dropping-97758?rt=67505#ath?utm_source=CopyShare&utm_medium=Browser 14 Quote Link to comment Share on other sites More sharing options...
mattyt36 Posted March 7, 2019 Share Posted March 7, 2019 (edited) Anyone know what the monthly maintenance fees are like in a high rise condo building? I just don’t think the math works out in Houston. Have been reading profiles such as these for 2 decades and it’s always people in their mid-50s after kids leave. And they also seem to always be realtors. The only high rise that seemed to make no brainer economic sense to me based on numbers presented was that one in EaDo with the micro units. Otherwise high rise rentals here seemed to be price (relatively) affordably. Do the developers assume the building flipping to a condo down the road? Are there any examples of high rise rentals flipping to condos here? Edited March 7, 2019 by mattyt36 Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted March 7, 2019 Share Posted March 7, 2019 5 hours ago, mattyt36 said: Anyone know what the monthly maintenance fees are like in a high rise condo building? I just don’t think the math works out in Houston. Have been reading profiles such as these for 2 decades and it’s always people in their mid-50s after kids leave. And they also seem to always be realtors. The only high rise that seemed to make no brainer economic sense to me based on numbers presented was that one in EaDo with the micro units. Otherwise high rise rentals here seemed to be price (relatively) affordably. Do the developers assume the building flipping to a condo down the road? Are there any examples of high rise rentals flipping to condos here? High rise condo fees can range widely based on the age of the building, etc. a yardstick only: $0.75 psf is a good placeholder. That yardstick is absolutely wrong in virtually every case. Some buildings will be a buck. Others half a buck. Newer buildings tend to be cheaper than older ones. Buildings with a ton of amenities will be much more expensive than those that don’t. Highrises are more than mid-rises. So, all that said....... 1500 sqft hig rise will be “around” $1000 per month for the HOA. The HAR app will let you look at various buildings around town and get a sense of HOA cost PSF. 2 1 Quote Link to comment Share on other sites More sharing options...
htownproud Posted March 7, 2019 Share Posted March 7, 2019 7 hours ago, mattyt36 said: Anyone know what the monthly maintenance fees are like in a high rise condo building? I just don’t think the math works out in Houston. Have been reading profiles such as these for 2 decades and it’s always people in their mid-50s after kids leave. And they also seem to always be realtors. The only high rise that seemed to make no brainer economic sense to me based on numbers presented was that one in EaDo with the micro units. Otherwise high rise rentals here seemed to be price (relatively) affordably. Do the developers assume the building flipping to a condo down the road? Are there any examples of high rise rentals flipping to condos here? 3333 Allen Parkway (The Royalton) was originally rental units, and then switched to condos after about five years. 1 1 Quote Link to comment Share on other sites More sharing options...
jgriff Posted March 7, 2019 Share Posted March 7, 2019 I looked seriously into buying in a high rise at one time. I found that most of the ones I was looking at were very close to 0.75 a sf for maintenance. It didn't make any sense to me at the time. To me it was a very high price to pay in order to not have to maintain a house. That plus no yard and having to get in an elevator to take the dogs out were just too much for me. I would love the views but the cost and inconvenience were just too high. You can pretty much get a standalone house in the same area for half the payment. 3 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted March 9, 2019 Share Posted March 9, 2019 Freeway views 6 Quote Link to comment Share on other sites More sharing options...
Popular Post BeerNut Posted March 11, 2019 Popular Post Share Posted March 11, 2019 12 Quote Link to comment Share on other sites More sharing options...
samagon Posted March 12, 2019 Share Posted March 12, 2019 On 3/7/2019 at 12:17 AM, mattyt36 said: Anyone know what the monthly maintenance fees are like in a high rise condo building? I just don’t think the math works out in Houston. Have been reading profiles such as these for 2 decades and it’s always people in their mid-50s after kids leave. And they also seem to always be realtors. The only high rise that seemed to make no brainer economic sense to me based on numbers presented was that one in EaDo with the micro units. Otherwise high rise rentals here seemed to be price (relatively) affordably. Do the developers assume the building flipping to a condo down the road? Are there any examples of high rise rentals flipping to condos here? On 3/7/2019 at 5:49 AM, UtterlyUrban said: High rise condo fees can range widely based on the age of the building, etc. a yardstick only: $0.75 psf is a good placeholder. That yardstick is absolutely wrong in virtually every case. Some buildings will be a buck. Others half a buck. Newer buildings tend to be cheaper than older ones. Buildings with a ton of amenities will be much more expensive than those that don’t. Highrises are more than mid-rises. So, all that said....... 1500 sqft hig rise will be “around” $1000 per month for the HOA. The HAR app will let you look at various buildings around town and get a sense of HOA cost PSF. it's hardly ever a dollar/cents kind of thing though, sure you are paying $1000 on top of your $2000 mortgage (probably higher even), which would get you the better part of a $600,000 home. that's a lot of home in a lot of places in Houston. but then, you have to consider amenities. does that $600,000 home come with concierge/security? how about a trash service? do you have an onsite dry cleaner? lawn care? common area and a pool? If you're considering a bungalow in the Heights for ~$600,000, a palace out in Katy, or a condo in midtown, that condo can start looking really nice. 3 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted March 15, 2019 Share Posted March 15, 2019 I found this article from back in November 2018 in which Joe Russo was interviewed by BisNow. I thought his discussion of getting financing was interesting--basically, there isn't much appetite to directly finance multifamily development back in Australia so "condos" are developed to be owned and rented out by various individual investors: https://www.bisnow.com/houston/news/multifamily/exclusive-whyjoe-russochose-houston-seattle-over-the-typical-developer-route-in-new-york-la-and-miami-94610 4 Quote Link to comment Share on other sites More sharing options...
mattyt36 Posted March 16, 2019 Share Posted March 16, 2019 Nice to read his glowing comments about the City. 2 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted March 17, 2019 Popular Post Share Posted March 17, 2019 North side of the building where I assume the GFR is going to be. 11 Quote Link to comment Share on other sites More sharing options...
Popular Post houstontexasjack Posted March 17, 2019 Popular Post Share Posted March 17, 2019 https://imgur.com/gallery/6wdLbGQ Got this shot walking across the bridge on MacGregor. Caydon’s tower is now quite prominent and looks like an extension of the Downtown skyline. 10 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted March 18, 2019 Share Posted March 18, 2019 3 hours ago, houstontexasjack said: https://imgur.com/gallery/6wdLbGQ Got this shot walking across the bridge on MacGregor. Caydon’s tower is now quite prominent and looks like an extension of the Downtown skyline. Within the next year to two years, 3300 Main, The Texas Tower, and maybe two more Caydons will be visible from this angle. It's going to be fun. 4 Quote Link to comment Share on other sites More sharing options...
Angostura Posted March 18, 2019 Share Posted March 18, 2019 On 3/15/2019 at 6:33 PM, houstontexasjack said: I found this article from back in November 2018 in which Joe Russo was interviewed by BisNow. I thought his discussion of getting financing was interesting--basically, there isn't much appetite to directly finance multifamily development back in Australia so "condos" are developed to be owned and rented out by various individual investors: https://www.bisnow.com/houston/news/multifamily/exclusive-whyjoe-russochose-houston-seattle-over-the-typical-developer-route-in-new-york-la-and-miami-94610 This is true in most of the world. The common practice in the US, where a single owner owns an entire large (200+ units) multifamily project is very uncommon in other parts of the world. 2 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted March 19, 2019 Author Share Posted March 19, 2019 20190316-DJI_0041-2.jpg by Brian Greul, on Flickr 7 Quote Link to comment Share on other sites More sharing options...
bobruss Posted March 19, 2019 Share Posted March 19, 2019 One great thing this image points out is the power of perspective. In this image it appears that the Wells Fargo building is much taller than the Chase building. Now we all know that the Chase is 5 floors taller, and definitely the tallest building in Houston. Since the Wells Fargo is much closer to us it creates the illusion of looking taller than the Chase. This is something you have to remember to take into consideration when looking at renderings and recognizing which building is closer, which will obviously make that building seem much taller than it really is. I know most understand this but I felt like there are some that might not have that understanding, and this clearly illustrates this optic. 2 Quote Link to comment Share on other sites More sharing options...
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