jgriff Posted January 7, 2019 Share Posted January 7, 2019 8 hours ago, Luminare said: @Urbannizer Shouldn't this be combined with the other thread regarding this? The one with the new high-rise by Hanover? Plus this isn't exactly "Downtown". The first post in this thread is about 3550 West Dallas. The other one is about 3540, that one has been purchase by Hanover. They are actually two different sites. One is 4.5 acres and the other is about 6.75 acres. I’m still not 100% certain which site the new variance signs are for. 1 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted January 7, 2019 Share Posted January 7, 2019 I believe Hanover is also working to acquire the 3550 West Dallas site as well. 1 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 7, 2019 Share Posted January 7, 2019 (edited) 2 hours ago, CREguy13 said: I believe Hanover is also working to acquire the 3550 West Dallas site as well. Wow, that's news to me! Maybe it should be combined. Edited January 7, 2019 by jgriff 1 Quote Link to comment Share on other sites More sharing options...
nate4l1f3 Posted January 7, 2019 Share Posted January 7, 2019 Asset classes? 1 Quote Link to comment Share on other sites More sharing options...
swtsig Posted January 7, 2019 Share Posted January 7, 2019 i believe he meant "assy gases"... hanover is getting into the wastewater treatment game. 2 2 Quote Link to comment Share on other sites More sharing options...
Popular Post Angostura Posted January 14, 2019 Popular Post Share Posted January 14, 2019 More detail in this weeks Planning Commission agenda. 6 buildings, including a hotel (23 stories), office (21 stories) and residential (7 stories w/ GFR). No details on the other 3. Two N-S streets will run through the site, between Dallas and Allen Pkwy. 12 1 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 14, 2019 Share Posted January 14, 2019 (edited) 3 hours ago, Angostura said: More detail in this weeks Planning Commission agenda. 6 buildings, including a hotel (23 stories), office (21 stories) and residential (7 stories w/ GFR). No details on the other 3. Two N-S streets will run through the site, between Dallas and Allen Pkwy. Sorry, delete this post... Edited January 14, 2019 by jgriff 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 14, 2019 Share Posted January 14, 2019 (edited) 4 hours ago, Angostura said: More detail in this weeks Planning Commission agenda. 6 buildings, including a hotel (23 stories), office (21 stories) and residential (7 stories w/ GFR). No details on the other 3. Two N-S streets will run through the site, between Dallas and Allen Pkwy. The site is next to Marston Street but I don't see another street there unless they plan on putting one in. This site does not go through to Allen Parkway unless they plan on acquiring more land. This is nothing at all like the Regents site, which reminds us just what a waste it is that the Regents site sits there vacant. This is pretty much obsolete after jgriff's post. Edited January 14, 2019 by H-Town Man 1 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 14, 2019 Share Posted January 14, 2019 Lots of details in this document. The entire site is about 13.5 acres. It looks like they've bought everything East of Martson street. They are adding several streets. Martson street and one of the new ones will connect to Allen Parkway. ftp://edrc.houstontx.gov//2019/2019-02_DraftAgenda.pdf 2 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 14, 2019 Share Posted January 14, 2019 Here's the plot for those that don't want to look through the PDF. 7 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted January 14, 2019 Share Posted January 14, 2019 Damn now if Regent Square can get it's act together we could have something really great going on here. 3 Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 14, 2019 Share Posted January 14, 2019 4 minutes ago, j_cuevas713 said: Damn now if Regent Square can get it's act together we could have something really great going on here. Maybe we can get Hanover + Hines to do a hostile take over of GID...seriously... 4 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 14, 2019 Share Posted January 14, 2019 24 minutes ago, jgriff said: Lots of details in this document. The entire site is about 13.5 acres. It looks like they've bought everything East of Martson street. They are adding several streets. Martson street and one of the new ones will connect to Allen Parkway. ftp://edrc.houstontx.gov//2019/2019-02_DraftAgenda.pdf Ah, so it looks like The Center is leaving. I hope they got a pretty penny, those people are the salt of the earth. And this project is now rather bigger than anticipated when it was 4.54 acres. Regents Square may have missed their window, they are going to have competitive supply issues if they go forward now. 3 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 14, 2019 Share Posted January 14, 2019 12 minutes ago, H-Town Man said: Ah, so it looks like The Center is leaving. I hope they got a pretty penny, those people are the salt of the earth. And this project is now rather bigger than anticipated when it was 4.54 acres. Regents Square may have missed their window, they are going to have competitive supply issues if they go forward now. They had serious issues during Harvey. I'm sure Hanover will take the flooding issues into account in the design of the new buildings. On the site plan I believe only Reserve "B" would have flooding issues. I walked the entire area many times during Harvey since I live just a few hundred feet away. Since Hanover paid about $7 million an acre for the Detention center portion I'm sure The Center got a big price for their site, it was almost 7 acres. The property taxes on this development are going to be huge. Here's what The Center had to say about the sale on their blog. Quote Development by the new property owners on the current West Dallas campus—not including Cullen Residence Hall and the surrounding one acre of land—is slated to begin in 2019. In preparation, The Center will temporarily relocate a portion of our services to ensure uninterrupted client programming during this transitional time. The Center has signed the lease for a short-term location at 9310 Kirby Drive to house all of our day programs until the new permanent location is ready. This includes our Momentum Industries vocational training program, the Adult Activity Center, Young at Heart, Bloom Fitness exercise classes, Cullen Caners, and Gingersnaps Etc. These programs are scheduled to relocate in the first quarter of 2019. https://thecenterhouston.org/with-plans-for-a-new-location-underway-the-center-finds-a-temporary-home-on-kirby-drive/ 3 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 14, 2019 Share Posted January 14, 2019 14 minutes ago, jgriff said: They had serious issues during Harvey. I'm sure Hanover will take the flooding issues into account in the design of the new buildings. On the site plan I believe only Reserve "B" would have flooding issues. I walked the entire area many times during Harvey since I live just a few hundred feet away. Since Hanover paid about $7 million an acre for the Detention center portion I'm sure The Center got a big price for their site, it was almost 7 acres. The property taxes on this development are going to be huge. Here's what The Center had to say about the sale on their blog. https://thecenterhouston.org/with-plans-for-a-new-location-underway-the-center-finds-a-temporary-home-on-kirby-drive/ Interesting. St. Thomas paid about $5.5 million an acre for the High School for Law Enforcement, which was mostly land value, so that checks out. This is getting in the ballpark of downtown land at $160/SF. 2 Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 14, 2019 Share Posted January 14, 2019 1 hour ago, H-Town Man said: Interesting. St. Thomas paid about $5.5 million an acre for the High School for Law Enforcement, which was mostly land value, so that checks out. This is getting in the ballpark of downtown land at $160/SF. I was surprised at the price paid for the Detention Center site. My lot is appraised at $85/SF. Of course it's not suitable for development due to the size. Is it normal for a commercial size lot like this to be worth double what a residential lot would be? I hope this doesn't push my taxes up. 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 14, 2019 Share Posted January 14, 2019 1 hour ago, jgriff said: I was surprised at the price paid for the Detention Center site. My lot is appraised at $85/SF. Of course it's not suitable for development due to the size. Is it normal for a commercial size lot like this to be worth double what a residential lot would be? I hope this doesn't push my taxes up. Residential property is typically worth less than commercial, although in Houston due to lack of zoning the differences are blurred. Does your lot have any deed restrictions? Does it front on a major road? Any other development restrictions? Normally smaller properties are worth more per foot, but there is utility in a larger site that a small site doesn't have. There is not much utility below a half acre unless it can be assembled into a larger site. The appraisal district usually appraises residential property pretty accurately because they can look at MLS and see what has been paid for similar properties, but if your residence is on a site that could be commercial, that goes out the window. 2 Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 14, 2019 Share Posted January 14, 2019 (edited) 12 minutes ago, H-Town Man said: Residential property is typically worth less than commercial, although in Houston due to lack of zoning the differences are blurred. Does your lot have any deed restrictions? Does it front on a major road? Any other development restrictions? Normally smaller properties are worth more per foot, but there is utility in a larger site that a small site doesn't have. There is not much utility below a half acre unless it can be assembled into a larger site. The appraisal district usually appraises residential property pretty accurately because they can look at MLS and see what has been paid for similar properties, but if your residence is on a site that could be commercial, that goes out the window. The lines are blurred further here too because, for the most part, every property is an "unrestricted reserve" meaning you can do whatever you want with that land, be it residential or commercial. The only thing that is stopping you at that point are deed restrictions. Edited January 14, 2019 by Luminare 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Luminare Posted January 15, 2019 Popular Post Share Posted January 15, 2019 Hanover not messing around... One of the towers (the office or hotel? did this really quickly) Streetscape example Residential example There will be a park/square in the middle of the development These aren't all of the images, but thought that these were a few highlights. Almost all of the buildings seem to have ground floor retail. This seems to be a direct competition to Regent Square. If GID doesn't get started...they are retarded. I have no sympathy for them at this point. Whats interesting here is that it doesn't feel like a "city centre" type development, but a genuine urban extension to the city. Could this be the next evolution we are seeing in the free market iterations of urbanism? Will see. 17 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 15, 2019 Share Posted January 15, 2019 1 hour ago, Luminare said: This seems to be a direct competition to Regent Square. If GID doesn't get started...they are retarded. I have no sympathy for them at this point. At this point it is probably smarter for them to hold the land and wait until this builds out and stabilizes. Then there will be more walking-distance customers for their retail and investors will be an easier sell since it's a proven concept at this location. 3 Quote Link to comment Share on other sites More sharing options...
Popular Post bobruss Posted January 15, 2019 Popular Post Share Posted January 15, 2019 In the 50's, this area was so different. I remember a motor hotel called the Buffalo motel that sat near the corner of Waugh and west Dallas, or even closer to Allen Parkway. Seemed like its signage had a symbol of a white Buffalo. I don't know if anyone else remembers these. There was also a wonderful moderne style dairy either Carnation or Bordens or some local group. It had great wings and was a beautiful example of that period. Rainbow bread also had a big bakery on West Gray not far from Woodhead and it smelled so good when you passed by. Another era, but I thought some might like a little insight into what the area used to be like. Memories from an old guy. 12 Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 15, 2019 Share Posted January 15, 2019 I wonder what the name is going to be. I vote: Buffalo Square. Simple as that. 1 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted January 15, 2019 Share Posted January 15, 2019 27 minutes ago, Luminare said: I wonder what the name is going to be. I vote: Buffalo Square. Simple as that. I'm guessing Buffalo Place by the name of the street. 1 Quote Link to comment Share on other sites More sharing options...
Angostura Posted January 15, 2019 Share Posted January 15, 2019 The plat is called Buffalo Bayou Park in the variance request. This ought to be symbiotic with Regent Square. Each within walking distance of the other, and this appears to be more office/hotel focused (with a little GFR and a lot of suburban-office-park green space) whereas Regent Square has a higher proportion of retail and residential. Both this development and Regent Square are more valuable long-term if the other is built. Someday we'll learn the real reason Regent Square was never built. 3 Quote Link to comment Share on other sites More sharing options...
LBC2HTX Posted January 15, 2019 Share Posted January 15, 2019 (edited) https://www.bizjournals.com/houston/news/2019/01/15/new-hotel-residential-office-mixed-use-project.html Edited February 12, 2019 by LBC2HTX 4 Quote Link to comment Share on other sites More sharing options...
Triton Posted January 15, 2019 Share Posted January 15, 2019 2 hours ago, Angostura said: Someday we'll learn the real reason Regent Square was never built. Calling it now. If this development is successful, I see Hanover purchasing the Regent Square property and we'll see phase II and III over there. I'll miss the aesthetics that Regent Square was proposing but we should have had walkable mixed-use development in this area by now already. 4 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted January 15, 2019 Share Posted January 15, 2019 3 hours ago, Triton said: Calling it now. If this development is successful, I see Hanover purchasing the Regent Square property and we'll see phase II and III over there. I'll miss the aesthetics that Regent Square was proposing but we should have had walkable mixed-use development in this area by now already. I'll note it in the log. 2 3 Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 16, 2019 Share Posted January 16, 2019 14 hours ago, houstontexasjack said: I'll note it in the log. Do we have an eternal HAIF quote and prediction log? 1 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted January 16, 2019 Share Posted January 16, 2019 https://www.bizjournals.com/houston/news/2019/01/15/new-hotel-residential-office-mixed-use-project.html 2 Quote Link to comment Share on other sites More sharing options...
Subdude Posted January 16, 2019 Share Posted January 16, 2019 Can't read it due to the paywall. Any additional information? What is the location? 1 Quote Link to comment Share on other sites More sharing options...
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