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Fidelity Bank And Trust Company - 1300 Texas Ave.


hindesky

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Thanks, I hate it.

This is probably a better illustration of the cracks in Houston’s zoning and development policies than I’ve ever seen. As every serious city is getting rid of surface parking lots, even prohibiting them from being built, Houston is adding more. And I probably could have painted better lines myself even after a long session at Main Street bars. At least downtown has more parking now! /s 

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5 hours ago, jhjones74 said:

Thanks, I hate it.

This is probably a better illustration of the cracks in Houston’s zoning and development policies than I’ve ever seen. As every serious city is getting rid of surface parking lots, even prohibiting them from being built, Houston is adding more. And I probably could have painted better lines myself even after a long session at Main Street bars. At least downtown has more parking now! /s 

What cities are prohibiting surface parking lots from being built?

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46 minutes ago, Houston19514 said:

What cities are prohibiting surface parking lots from being built?

Cincinnati has recently created explicit laws banning new surface parking lots.

NYC has prohibited surface parking from being built in Lower and Midtown Manhattan since the early 1980s.

Chicago requires a permit for new surface parking to be built, with specifications that this lot most definitely would not meet.

Numerous other cities have laws that would prohibit this hastily built heat island from existing. And it looks much worse from above:

IMG_1965.jpg

Edited by jhjones74
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^  Interesting.  Thank you.

 

From the looks of it, I'm thinking this might be intended to be temporary.  They didn't even make an attempt to maximize the number of spaces...  make a little money for the rest of the Astros season and then . . . 

Edited by Houston19514
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15 hours ago, Houston19514 said:

^  Interesting.  Thank you.

 

From the looks of it, I'm thinking this might be intended to be temporary.  They didn't even make an attempt to maximize the number of spaces...  make a little money for the rest of the Astros season and then . . . 

God I hope so. Will be very curious to see how much they charge people for parking during Astros games and if people actually park on this dump.

I actually hunted down who likely owns the property - the address comes back to the personal residence of a CEO/founder of a very good sized private oil and gas producer in Houston. My bet is he's doing what many other parking lot owners are doing downtown - parking money in these lots effectively risk free at a ~8% leveraged return annually, covering the tax burden with parking revenue. Hopefully I'm wrong and this lot sees development, but in this interest rate environment I wouldn't hold my breath.

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On 7/21/2023 at 10:00 AM, jhjones74 said:

Thanks, I hate it.

This is probably a better illustration of the cracks in Houston’s zoning and development policies than I’ve ever seen. As every serious city is getting rid of surface parking lots, even prohibiting them from being built, Houston is adding more. And I probably could have painted better lines myself even after a long session at Main Street bars. At least downtown has more parking now! /s 

Oh, the drama.  I guess Houston must be among the very most serious cities. Has any city gotten rid of more surface parking lots in the last 25 years or so than Houston?  More than 50 blocks of surface parking have been gotten rid of. We'll be fine if we have an occasional quarter block of surface parking added.

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On 7/22/2023 at 10:20 AM, jhjones74 said:

God I hope so. Will be very curious to see how much they charge people for parking during Astros games and if people actually park on this dump.

I actually hunted down who likely owns the property - the address comes back to the personal residence of a CEO/founder of a very good sized private oil and gas producer in Houston. My bet is he's doing what many other parking lot owners are doing downtown - parking money in these lots effectively risk free at a ~8% leveraged return annually, covering the tax burden with parking revenue. Hopefully I'm wrong and this lot sees development, but in this interest rate environment I wouldn't hold my breath.

I think you need to take in to account that the building that was there before was not worth saving. Sure they could have renovated it, but this location has much more potential for something larger. In my opinion this is just the market cleaning up the unnecessary clutter. The good thing is they saved the historic little building and have plans to restore it. And a new hotel is going up right down the street replacing surface parking. 

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Crayon painted lines notwithstanding, this just trades a useless blight for a semi-useful one. With the hotel going in across the street and development plans for the block bouncing around in the recent past, I tend to agree that it's not likely to stay this way for long. 

I'm thinking the giant prison fortress on the next block is a worse urban feature than a surface lot. 

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