UtterlyUrban Posted October 25, 2016 Share Posted October 25, 2016 8 hours ago, j_cuevas713 said: Wow Midtown is going to be amazing in another 10 years. Agreed. But, even in 10 years, there will be more to do. and, if you think about that for a second, that means that it will take 25-plus years (say, ~2000- 2025) to rebuild "much but not all" of the wreckage of 40 years of decay. Once its lost, it takes a long time to come back. 1 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted October 26, 2016 Share Posted October 26, 2016 With this, the superblock and the 3300 Main tower, things will definitely pick up. Going to be fun to watch. 2 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted October 26, 2016 Share Posted October 26, 2016 Anyone out there with knowledge of the real estate industry understand why building this tower as well as 3300 Main would be a go whereas Camden and block 98 towers in downtown there appears to be great hesitation. The latter two have received considerable incentives and the midtown towers have not. Science, not economics is my field. 1 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 26, 2016 Share Posted October 26, 2016 14 minutes ago, Twinsanity02 said: Anyone out there with knowledge of the real estate industry understand why building this tower as well as 3300 Main would be a go whereas Camden and block 98 towers in downtown there appears to be great hesitation. The latter two have received considerable incentives and the midtown towers have not. Science, not economics is my field. My guess is that the answer may relate to the developers behind the projects and, as always, the location of the projects. Caydon is an Australian developer just stepping its toes into the Houston market for the first time who may not have a full sense of what an oil downturn in this town looks like. Caydon is not otherwise exposed to a downturn in this market. I think PMRG is building 3300 Main. The only other multifamily project in Houston of theirs of which I am aware is 2929 Weslayan (that 40-story tower that was completed over by Central Market). Because of their limited exposure to the multifamily market in Houston, they may have more of a "damn the torpedoes" attitude when it comes to building. Caydon may not be getting US based financing for its project either. Additionally, these two projects are located next to a hub of activity that is nearing completion in Midtown. There will be a litany of eateries, bars, and other activities available within short walking distance. They might therefore appeal to younger tenants willing to deal with a reverse commute. Block 98, although by Discovery Green, is further away from the strip of bars that has popped up along Main Street. Camden's property is located closer to the Toyota Center, which, from walking around the area, is a bit of a no-man's-land as far as eateries and bars. I'd therefore think both Trammell Crow and Camden would have to offer more extensive concessions to get tenants into their properties over Caydon and PMRG, as they might end up being geared toward tenants who would prefer to simply walk to work Downtown. Given the downturn in energy, there appears to be far less demand for such units right now. Anyhoo, that's just my speculation. 5 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted October 26, 2016 Share Posted October 26, 2016 59 minutes ago, Twinsanity02 said: Anyone out there with knowledge of the real estate industry understand why building this tower as well as 3300 Main would be a go whereas Camden and block 98 towers in downtown there appears to be great hesitation. The latter two have received considerable incentives and the midtown towers have not. Science, not economics is my field. Are we sure 3300 Main is a go? They're tearing down the building, but that would still be done if they'd decided to sit and wait, since there is parking revenue and lower taxes. It looks like this Caydon guy might be willing to build in this market based on what he's said, but even he might decide to stall after seeing the vacancy and absorption numbers as the year progresses. Construction isn't happening until there are construction crews on site. Quote Link to comment Share on other sites More sharing options...
jmitch94 Posted October 26, 2016 Share Posted October 26, 2016 16 hours ago, Twinsanity02 said: With this, the superblock and the 3300 Main tower, things will definitely pick up. Going to be fun to watch. Im hoping that the park on the super block can be a mini Discovery Green, a sort of catalyst for the area. 3 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted October 27, 2016 Author Share Posted October 27, 2016 On 10/25/2016 at 4:31 PM, Triton said: Remind me, when might construction start? January Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted October 27, 2016 Share Posted October 27, 2016 It's all about financing. If you have it, you likely build regardless. If you don't, good luck getting it. 3 Quote Link to comment Share on other sites More sharing options...
MarathonMan Posted October 27, 2016 Share Posted October 27, 2016 6 hours ago, jmitch94 said: Im hoping that the park on the super block can be a mini Discovery Green, a sort of catalyst for the area. I don't think this area needs much of a catalyst... It seems to be doing just fine on it's own. But the park will be a great addition! 1 Quote Link to comment Share on other sites More sharing options...
corbs315 Posted October 28, 2016 Share Posted October 28, 2016 More info/specs on the platting agenda from yestserday - pages 148-166. ftp://edrc.houstontx.gov//2016/2016-22_FinalAgenda.pdf 1 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted October 28, 2016 Share Posted October 28, 2016 14 minutes ago, corbs315 said: More info/specs on the platting agenda from yestserday - pages 148-166. ftp://edrc.houstontx.gov//2016/2016-22_FinalAgenda.pdf This site is requesting username and password. Could you post the information you're referring to? 1 Quote Link to comment Share on other sites More sharing options...
corbs315 Posted October 28, 2016 Share Posted October 28, 2016 That's weird. I've never had to log in. Go here and click "current agenda". No time to summarize and there's really not much new info. https://edrc.houstontx.gov/edrc/login.aspx Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted October 28, 2016 Author Share Posted October 28, 2016 1 hour ago, corbs315 said: More info/specs on the platting agenda from yestserday - pages 148-166. ftp://edrc.houstontx.gov//2016/2016-22_FinalAgenda.pdf Info/specs was recently posted here Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted October 28, 2016 Share Posted October 28, 2016 On 10/26/2016 at 7:53 PM, KinkaidAlum said: It's all about financing. If you have it, you likely build regardless. If you don't, good luck getting it. I think developments like these are going to be winners in the game. Developers who are able to finance in down periods when material is more readily available and labor isn't as hard to come by will be ahead of the game. By the time this is ready for leasing we might be in a whole other economic atmosphere. By the time Camden is ready to build downtown he might be facing steeper construction costs. I say start on the up swing of the cycle and deliver in the height of recovery. 2 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted November 11, 2016 Share Posted November 11, 2016 On 5/2/2016 at 10:27 AM, cspwal said: Looking at Google earth of Midtown, the two most obvious blocks are the two blocks bounded by Webster, Gray, Austin, and Crawford. They have been green field for a while, and I'm not aware of any projects around there that have been announced. There aren't many other dual vacant blocks; the ones next to Wheeler station had that announced project a while back. This lot is along my commute. Saw some progress this morning... but not sure for what? 4 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted November 11, 2016 Share Posted November 11, 2016 (edited) On 11/10/2016 at 9:28 PM, phillip_white said: This lot is along my commute. Saw some progress this morning... but not sure for what? Lot is clear of trees today. Edited November 14, 2016 by phillip_white updated new photo link 3 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted November 14, 2016 Share Posted November 14, 2016 (edited) Per a request from @EllenOlenska: @TowerSpotter, you're cracking me up with that Mia Khalifa Avatar. Gets me every time. Edited November 14, 2016 by phillip_white lulz 9 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted December 6, 2016 Popular Post Share Posted December 6, 2016 A little tough to see in the picture, but soil testing is happening today. 17 Quote Link to comment Share on other sites More sharing options...
MarathonMan Posted January 7, 2017 Share Posted January 7, 2017 Drove by today. Back hoe was on site with a pile of debris in the parking lot next to the building. Hopefully demo is beginning in earnest! 5 Quote Link to comment Share on other sites More sharing options...
hindesky Posted January 8, 2017 Share Posted January 8, 2017 The local Kush dealers are going to have to find another block to sell from. 4 Quote Link to comment Share on other sites More sharing options...
AREJAY Posted January 9, 2017 Share Posted January 9, 2017 2850 Fannin is on today's demo report. http://swamplot.com/daily-demolition-report-willowbroke/2017-01-09/ 2 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted January 9, 2017 Share Posted January 9, 2017 So glad to see this side of Midtown get some love finally 2 Quote Link to comment Share on other sites More sharing options...
swtsig Posted January 9, 2017 Share Posted January 9, 2017 they still don't have their debt lined up as far as i know... they sound motivated to make it happen though so here's hoping. 6 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted January 9, 2017 Share Posted January 9, 2017 1 hour ago, swtsig said: they still don't have their debt lined up as far as i know... they sound motivated to make it happen though so here's hoping. Yeah but if I believe really really hard, it'll happen. 3 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 9, 2017 Share Posted January 9, 2017 2 hours ago, swtsig said: they still don't have their debt lined up as far as i know... they sound motivated to make it happen though so here's hoping. Some of the early press on this was saying it would be self-funded from their own capital. Not sure how reliable that was. Were they in the market for debt? 1 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted January 9, 2017 Popular Post Share Posted January 9, 2017 Fence up, trees coming down, and interior gutting under way...... should be an exciting couple of years for Midtown Development! I think I read that this is self-funded. 17 Quote Link to comment Share on other sites More sharing options...
swtsig Posted January 10, 2017 Share Posted January 10, 2017 self-funded definitely doesn't imply that they're forgoing debt, it likely means they are providing all the equity needed to line up construction loans, but that doesn't necessarily soothe over banks' worries on whether or not the loan can be repaid. investors are much easier to win over than banks as they don't have strict guidelines and regulatory hurdles to clear. 5 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 10, 2017 Share Posted January 10, 2017 Aussie guy's reaction when he saw Ric Campo's development across the street: Quote Link to comment Share on other sites More sharing options...
Timoric Posted January 10, 2017 Share Posted January 10, 2017 (edited) - Edited July 12, 2019 by Timoric 1 Quote Link to comment Share on other sites More sharing options...
Timoric Posted January 10, 2017 Share Posted January 10, 2017 (edited) - Edited July 11, 2019 by Timoric 3 Quote Link to comment Share on other sites More sharing options...
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