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Drewery Place: Multifamily High-Rise At 2850 Fannin St.


Urbannizer

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I think the green walls is the Fanin facing side. The complete build out will have a new building in front of that. I went to the sales office a while back and they described the future there as "mid-sized" but when pressed they admitted they didn't really know the actual plan.

My guess is the green is more artistic license than an actual design element.

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10 hours ago, Bassclef said:

Ugly, boxy and boring as usual.

Their goal is to maximize the  usable space they can sell. That means boxy. That's just the way it is. What would you build, if you were using your own money, or investor's money? Something cool and cutting edge, or something that maximized your profit?

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22 hours ago, Ross said:

Their goal is to maximize the  usable space they can sell. That means boxy. That's just the way it is. What would you build, if you were using your own money, or investor's money? Something cool and cutting edge, or something that maximized your profit?

But there have been plenty of buildings in Houston that were cool and cutting edge rather than boxy, and that brought profit to their investors. How do you know that a boxy building is the only building that can be profitable? Have you seen the cost sheets and revenue projections?

 

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4 minutes ago, H-Town Man said:

But there have been plenty of buildings in Houston that were cool and cutting edge rather than boxy, and that brought profit to their investors. How do you know that a boxy building is the only building that can be profitable? Have you seen the cost sheets and revenue projections?

 

Not for those specific buildings, but I've had enough discussion with my architect and developer friends to learn what shapes maximize profits. Some developers may not want to maximize profits, but the boxy designs help that goal. Keep in mind that I didn't offer an opinion on whether that's good or not, I just offered an explanation of why it happens. I've also been in buildings in the Middle East that were cool shapes, and the floor plans were awful, since it's hard to maximize usable space in circles, ovals, truncated cones, etc.

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15 minutes ago, Ross said:

Not for those specific buildings, but I've had enough discussion with my architect and developer friends to learn what shapes maximize profits. Some developers may not want to maximize profits, but the boxy designs help that goal. Keep in mind that I didn't offer an opinion on whether that's good or not, I just offered an explanation of why it happens. I've also been in buildings in the Middle East that were cool shapes, and the floor plans were awful, since it's hard to maximize usable space in circles, ovals, truncated cones, etc.

Some developers are more daring, others are more safe. Architectural enthusiasts are going to applaud the daring ones and groan at the safe ones. Just the way it is. Part of the reward for taking risks is winning the gratitude of the public.

 

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Boxy isn't bad. Most of Houston's more iconic buildings are boxy. I think those translucent plastic models aren't a good representation of what this will look like.

Also I think it looks good. It kind of reminds me of something you'd see in Miami, in a good way. The rounded corners, darker glass, etc, do that.

Edited by zaphod
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4 hours ago, Tumbleweed_Tx said:

the "points" at Pennzoil Place may look cool from the outside, but they are wasted space inside. You can't do anything with them except make them storage or mechanical areas

Or turn them into a cool architectural bar/restaurant 

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18 hours ago, Tumbleweed_Tx said:

the "points" at Pennzoil Place may look cool from the outside, but they are wasted space inside. You can't do anything with them except make them storage or mechanical areas

But because they looked cool, Hines was able to charge more for rent throughout the building and make more money. This was his innovation in high-rise office development in the 70's. He realized that a less efficient building could be more profitable because of the aesthetic appeal.

 

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  • 2 weeks later...
27 minutes ago, MarathonMan said:

Where is the other Midtown location?  I know of Montrose, Med Center and Downtown locations.  

Common Bond is also opening up at the Ion. 
 

Edit: I think both the location at the Ion and the location at Drewery Place will be “on-the-go” concepts similar to what Common Bond has up in the Heights (cold sandwiches, pastries, coffee, but without the full menu that includes hot items).

Edited by houstontexasjack
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  • 2 weeks later...
  • 2 weeks later...
On 3/19/2021 at 10:50 PM, MarathonMan said:

Heard from a friend who works for Midtown Management District that the Fitzroy/Kimpton tower will be delayed again. . . until 2022.  Anyone else hear anything to that effect?

I just got a marketing e-mail from them (today) stating the estimated closing date for the condos would be late 2023. Of course it has a little asterisk next to it confirming they are full of crap 😆

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On 3/19/2021 at 10:50 PM, MarathonMan said:

Heard from a friend who works for Midtown Management District that the Fitzroy/Kimpton tower will be delayed again. . . until 2022.  Anyone else hear anything to that effect?

Yes, it is delayed.

There has been no new progressive set of construction documents issued (that I'm aware of).  The latest set are Design Development, so they still have at least issue for permit drawings and construction drawing to produce.  I know they were shopping at least three general contractors in October/November of last year and then everything went silent.

 

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  • 3 weeks later...

Yes, there appears to be a ton of activity going on behind the scenes right now. A lot of capital had been tied up because of the uncertainty of the pandemic but there is a light at the end of the tunnel now and real estate is an investment type people have been waiting to invest in. Especially before the interest rates tick back up.

We may see a flurry of new project proposals this summer. Let's see how many break ground!

Edited by shasta
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  • 3 weeks later...
14 minutes ago, hindesky said:

Caydon is selling their Midtown Drewery Place apartments.

https://realtynewsreport.com/caydon-selling-drewery-place-apartment-tower-in-midtown/

I'm betting it goes for around $120-$145 million. Also it seems like they're still going foward with the rest of the development 

Quote

Having completed the Drewery Place  tower, Caydon’s next Midtown project is Fitzroy, a 32-story tower pairing 191 condominiums with a 190-room boutique hotel operated by Kimpton Hotels and Restaurants.

Caydon is expect to expected to break ground in mid-2021 and complete the Fitzroy condo tower in late 2023.The 558,000 SF tower will be the second phase of the 2.5 million SF mixed-use district Caydon intends for three city blocks – about 3.5 acres bordered by Main, McGowen, Fannin and Tuam, and adjacent to Midtown Park.

 

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1 minute ago, TheSirDingle said:

I'm betting it goes for around $120-$145 million. Also it seems like they're still going foward with the rest of the development 

 

Does Biv really know something or is he just regurgitating old information?

 

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