citykid09 Posted March 9, 2006 Share Posted March 9, 2006 Shamrock,2 Orion towers,Redstone, Etc.They were all cancled, most of which were not announced. Quote Link to comment Share on other sites More sharing options...
Houston1stWordOnTheMoon Posted March 12, 2006 Share Posted March 12, 2006 What was the Shamrock Tower to look like? Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted March 13, 2006 Author Share Posted March 13, 2006 What was the Shamrock Tower to look like?Merged with existing topic.There are several renderings on this tread. Quote Link to comment Share on other sites More sharing options...
Houston1stWordOnTheMoon Posted March 13, 2006 Share Posted March 13, 2006 Merged with existing topic.There are several renderings on this tread. Thanks! would be nice if it were ever built Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted March 18, 2006 Share Posted March 18, 2006 Is this parking garage going up where Shamrock was suppose to? Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted March 19, 2006 Share Posted March 19, 2006 No. Quote Link to comment Share on other sites More sharing options...
WesternGulf Posted March 19, 2006 Share Posted March 19, 2006 Is this parking garage going up where Shamrock was suppose to?http://www.chron.com/disp/story.mpl/busine...ff/3456350.htmlhttp://www.houstonarchitecture.info/haif/i...?showtopic=4315 Quote Link to comment Share on other sites More sharing options...
77017 Posted March 27, 2006 Share Posted March 27, 2006 How long do u think they will keep the trailer on the site? I'm betting til the year 2022. Are there even people in the trailer any more? How did they get away with this. Don't they owe mcdonalds a restaurant? Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted April 5, 2006 Share Posted April 5, 2006 How long do u think they will keep the trailer on the site? I'm betting til the year 2022. Are there even people in the trailer any more? How did they get away with this. Don't they owe mcdonalds a restaurant?The only people to make money on this deal will be the lawyers. Yes, they owe McDonalds a restaurant. No, it isn't built yet. No, McDonalds isn't going to forget. Yes, huge mess. Yes, easy to see this coming. Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted March 18, 2007 Author Share Posted March 18, 2007 ....and the sign is still up, and the leasing office trailer is still there. Wonder if they'd consider renting that out? It would be cool in a perverse sort of way to say "I live in downtown Houston - in a mobile home on Main Street!" Quote Link to comment Share on other sites More sharing options...
Trae Posted March 18, 2007 Share Posted March 18, 2007 (edited) Maybe it is going to happen! Edited March 19, 2007 by Trae Quote Link to comment Share on other sites More sharing options...
Jax Posted March 18, 2007 Share Posted March 18, 2007 I was the empty lot with the trailer and the photos of this building last night when I was downtown. So could somebody please summarize the situation? Is the project officially dead? Is it rumored to be dead? Is there still a possibility they might build it? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted March 19, 2007 Share Posted March 19, 2007 Wonder if they'd consider renting that out? It would be cool in a perverse sort of way to say "I live in downtown Houston - in a mobile home on Main Street!" They aren't actively marketing the tower, which is a pretty good indication that it is dead. Wonder if they'd consider renting that out? It would be cool in a perverse sort of way to say "I live in downtown Houston - in a mobile home on Main Street!" Believe it or not, you aren't the first one to ask that question! Quote Link to comment Share on other sites More sharing options...
arcutech Posted March 19, 2007 Share Posted March 19, 2007 PLEASE trust me on this one....This project dead. Not on life support, not in critical condition, not anything but dead. The note is non-performing and was originally bought using funds from a pyrmamid scheme (allegedly) out of Vegas. The whole thing has unraveled in a nasty court battle in Vegas. Many thousands of people were duped and lost their savings. Ugly scene.The trailer and signage are still there ONLY because no one wants to pay to have them removed.New owner of note and only plan now is for disposition of the asset (this final term used loosely). Quote Link to comment Share on other sites More sharing options...
cottonmather0 Posted March 19, 2007 Share Posted March 19, 2007 PLEASE trust me on this one....This project dead. Not on life support, not in critical condition, not anything but dead. The note is non-performing and was originally bought using funds from a pyrmamid scheme (allegedly) out of Vegas. The whole thing has unraveled in a nasty court battle in Vegas. Many thousands of people were duped and lost their savings. Ugly scene.The trailer and signage are still there ONLY because no one wants to pay to have them removed. New owner of note and only plan now is for disposition of the asset (this final term used loosely). Yep, I was walking down Main St a couple of weeks ago and came across the trailer and thought to myself, "dang this trailer sure has been here a long time, I wonder when they'll ever build this thing?" Then I saw a dead rat underneath the trailer and figured the project was a goner. Didn't even have to read this thread to know that. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted March 19, 2007 Share Posted March 19, 2007 PLEASE trust me on this one....This project dead. Not on life support, not in critical condition, not anything but dead. The note is non-performing and was originally bought using funds from a pyrmamid scheme (allegedly) out of Vegas. The whole thing has unraveled in a nasty court battle in Vegas. Many thousands of people were duped and lost their savings. Ugly scene.The trailer and signage are still there ONLY because no one wants to pay to have them removed.New owner of note and only plan now is for disposition of the asset (this final term used loosely).Wow. Pass that along to Nancy, if you will. She will be most grateful.nancy.sarnoff@chron.com Quote Link to comment Share on other sites More sharing options...
Gary Posted March 19, 2007 Share Posted March 19, 2007 Wow. Pass that along to Nancy, if you will. She will be most grateful.nancy.sarnoff@chron.com So what are you saying Niche. To my knowledge (which isn't much ) she hasn't mentioned the Shamrock. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted March 19, 2007 Share Posted March 19, 2007 So what are you saying Niche. To my knowledge (which isn't much ) she hasn't mentioned the Shamrock. The Chronicle would've said *something* if they knew that this had blown up like it apparently has. They (and esp. Sarnoff) typically don't like to burn bridges with key contacts by announcing dead projects, for instance, but this would be an exception. Quote Link to comment Share on other sites More sharing options...
Gary Posted March 19, 2007 Share Posted March 19, 2007 The Chronicle would've said *something* if they knew that this had blown up like it apparently has. They (and esp. Sarnoff) typically don't like to burn bridges with key contacts by announcing dead projects, for instance, but this would be an exception.Ok. I thought you were initially being sarcastic. Quote Link to comment Share on other sites More sharing options...
arcutech Posted March 26, 2007 Share Posted March 26, 2007 The Chronicle would've said *something* if they knew that this had blown up like it apparently has. They (and esp. Sarnoff) typically don't like to burn bridges with key contacts by announcing dead projects, for instance, but this would be an exception.It is my guess that she, Nancy, is waiting on the complete implosion of the developer so the "whole story" can be told. Shamrock is but a piece of what is a much more complicated, and frankly more interesting, story that is this guy. Quote Link to comment Share on other sites More sharing options...
nmainguy Posted March 26, 2007 Share Posted March 26, 2007 It is my guess that she, Nancy, is waiting on the complete implosion of the developer so the "whole story" can be told. Shamrock is but a piece of what is a much more complicated, and frankly more interesting, story that is this guy.It's my guess Sarnoff hasn't been fed her fax yet. Now if you're waiting for a much more complicated and more interesting story, I wouldn't be holding out for anything from her or the Chron-they don't do complicated or interesting. Quote Link to comment Share on other sites More sharing options...
Jonah Posted March 26, 2007 Share Posted March 26, 2007 With Houston Pavilions, and the Finger Tower currently under construction, does anyone think that this lot will be taken over and hopefully developed in the next few years? Does the person who was going to build Shamrock Tower own this block or is it something that will hopefully be sold? I'm not well informed with all of the mishaps that plagued this project. Thanks. Quote Link to comment Share on other sites More sharing options...
HtownWxBoy Posted March 26, 2007 Share Posted March 26, 2007 With Houston Pavilions, and the Finger Tower currently under construction, does anyone think that this lot will be taken over and hopefully developed in the next few years? Does the person who was going to build Shamrock Tower own this block or is it something that will hopefully be sold? I'm not well informed with all of the mishaps that plagued this project. Thanks.I was thinking this same thing. Now that all of the other projects are going up Downtown.... will this project or some other project on this lot now seem more likely to happen? Quote Link to comment Share on other sites More sharing options...
what Posted March 26, 2007 Share Posted March 26, 2007 I was thinking this same thing. Now that all of the other projects are going up Downtown.... will this project or some other project on this lot now seem more likely to happen?Probably. I don't think it will sit long with everything else going on in the area. Quote Link to comment Share on other sites More sharing options...
HtownWxBoy Posted March 26, 2007 Share Posted March 26, 2007 Probably. I don't think it will sit long with everything else going on in the area.Me either... especially considering it's right on Main Street. Quote Link to comment Share on other sites More sharing options...
troyboy Posted March 27, 2007 Share Posted March 27, 2007 I don't even live in Houston and I figured this project was dead a long time ago. I usually stay downtown when I visit my folks and after walking pass that trailer for what, three years now, it didn't take a genius to know this thing was dead. Which really sucks, because I remember the first time I saw the sign with the rendering on it and thought what an awesome project it was going to be. Quote Link to comment Share on other sites More sharing options...
arcutech Posted March 29, 2007 Share Posted March 29, 2007 Me either... especially considering it's right on Main Street.If this were a "fee simple" sale of land, it would have been sold many, many months ago. However, the Shamrock Site (for lack of any other identifying term) has been ecumbered by not one, but TWO ten million dollar liens. When you add to this the multi-million dollar tax liens, interest ticker and mechanics and materialmen's liens, the project has more than $25MM of encumbrances. Remember, it is not even the full city block. There is that awful empty building which takes up a corner of the lot. OH, and McDonalds is still out there with a signed agreement maintaining they must be rebuilt on the site if it is ever developed. Lot has $500 psf against it. NO land in Houston is worth that. Thus the problem. Tracey screwed this land up so much that someone with more patience than I is going to have to clean it through foreclosure. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted March 29, 2007 Share Posted March 29, 2007 Lot has $500 psf against it. NO land in Houston is worth that. Wow. That is insane. It boggles the mind that he already had a spotty reputation, and yet, he people trusted him enough to deal in amounts that large. Quote Link to comment Share on other sites More sharing options...
Subdude Posted March 30, 2007 Share Posted March 30, 2007 If this were a "fee simple" sale of land, it would have been sold many, many months ago. However, the Shamrock Site (for lack of any other identifying term) has been ecumbered by not one, but TWO ten million dollar liens. When you add to this the multi-million dollar tax liens, interest ticker and mechanics and materialmen's liens, the project has more than $25MM of encumbrances. Remember, it is not even the full city block. There is that awful empty building which takes up a corner of the lot. OH, and McDonalds is still out there with a signed agreement maintaining they must be rebuilt on the site if it is ever developed. Lot has $500 psf against it. NO land in Houston is worth that. Thus the problem. Tracey screwed this land up so much that someone with more patience than I is going to have to clean it through foreclosure.So I take it the lot will remain surface parking for many years to come. That is a shame. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted March 30, 2007 Share Posted March 30, 2007 So I take it the lot will remain surface parking for many years to come. That is a shame.It should not really take THAT long. The lien holders at some point will surely just foreclose on the property and get what they can out of it. Once they do that, it will be free of the liens and we can all get on with our lives ;-) Quote Link to comment Share on other sites More sharing options...
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