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Hilton Home2 Suites/TRU Hotel At 1540 Leeland St.


Paco Jones

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On 9/26/2023 at 4:42 PM, bookey23 said:

Oh, HAIF actually made it super easy for me to find the map I made:

 

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Wow, that's a whole downtown neighborhood. I wonder if they are paying attention to the development around these properties it if they are content with the income from parking fees. 

If I win the lottery I am building a huge garage there and charge only enough to cover taxes and maintenance. Maybe put a dent in these land hogs profits 

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I'm really hoping this attracts more projects in the area. I'm kinda Happy that high office vacancy and high housing needs are the thing of the day. Would be nice to get some residential that offers some low income housing. Camden and 1711 are already there. Is the Peacock still alive and kicking? A few more apartments or condos with ground floor restaurants, bars, a little grocers, a dry cleaners, a barber shop... And you could develop a nice little neighborhood in that area.

 

This area is dead, but it's never too early to jump on the bike lane building.

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1 hour ago, HoustonIsHome said:

I like it. Looking at all the empty space around it, this area needs more love.

If I understand the situation correctly, the majority of the parking lots are all owned by holding companies (rather than developers), so there is minimal incentive to be the first to sell. 

I feel like a land value tax would address this, but as has been discussed here before, that brings along other complexities.

I have a vaguely formed notion of a probably-unpassable federal Livable Downtowns law that would allow (/encourage? require?) state and federal HUDs to eminent-domain lots in downtown districts that sit vacant or as parking lots for a certain number of years and construct/contract the construction of multifamily housing. But that would also create its own set of downstream effects, of which I can only imagine some.

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On 2/1/2024 at 11:01 AM, 004n063 said:

I have a vaguely formed notion of a probably-unpassable federal Livable Downtowns law that would allow (/encourage? require?) state and federal HUDs to eminent-domain lots in downtown districts that sit vacant or as parking lots for a certain number of years and construct/contract the construction of multifamily housing. But that would also create its own set of downstream effects, of which I can only imagine some.

An attempt to pass a federal law would probably be unconstitutional and be considered federal overreach. Eminent Domain would be expensive and counter productive for cities, and the courts take a dim view on eminent domain for the sole purpose of economic development. The fact is, if there was an economic drive to redevelop these lots, they'd already be redeveloped. The lack of demand for downtown development is why most of them still exist.

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1 hour ago, Big E said:

An attempt to pass a federal law would probably be unconstitutional and be considered federal overreach. Eminent Domain would be expensive and counter productive for cities, and the courts take a dim view on eminent domain for the sole purpose of economic development. The fact is, if there was an economic drive to redevelop these lots, they'd already be redeveloped. The lack of demand for downtown development is why most of them still exist.

Although I agree, I could also say that there was also a lack of demand to build around the area that would become Disco Green and yet look how those lots have fallen.

But that's a lot of wishful thinking as there will be no capping of the freeway in that area

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On 2/6/2024 at 7:35 AM, Big E said:

An attempt to pass a federal law would probably be unconstitutional and be considered federal overreach. Eminent Domain would be expensive and counter productive for cities, and the courts take a dim view on eminent domain for the sole purpose of economic development. The fact is, if there was an economic drive to redevelop these lots, they'd already be redeveloped. The lack of demand for downtown development is why most of them still exist.

"Lack of demand" and "insufficient demand to offset the willingness of a real estate holdings arm of a giant institutional investment bank to wait out other property owners so as not to have to sell or rent at current market prices" are, to my mind, different things.

Fill the area with S/1BR/2BR/3BR apartments renting at $700/$1000/$1500/$2000 a pop and you'd see plenty of demand, not to mention a much more vibrant and fiscally healthy city center.

But of course, evil socialist agenda and whatnot.

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18 hours ago, 004n063 said:

Fill the area with S/1BR/2BR/3BR apartments renting at $700/$1000/$1500/$2000 a pop and you'd see plenty of demand, not to mention a much more vibrant and fiscally healthy city center.

Once again, if there was a massive demand for that level of development, it would have already happened. The fact is, there just isn't enough latent demand to justify the expense of downtown redevelopment in most cases. Just like lack of office demand has curtailed the building of new office buildings. While there is a demand for residential development, its all happening outside of downtown, in areas where its cheaper to build, in more established or more popular up and coming neighborhoods. Downtown will continue to see piecemeal development for as long as this holds. You'd do better praying for another oil-fueled skyscaper boom.

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