The Houstonian Hotel & Condominiums At 111 North Post Oak Ln.

[SpaceCity]

The Redstone -- Official Website

http://harpictures.marketlinx.com/MediaDisplay/69/hr1329369-1.jpg

[h-townrep]

Wow, that's nice, is there any renderings with the true area around it.

[Lowbrow]

Sorry to dig up the second oldest post in this forum but has there been any news on this? They were originally trying to break ground by this month but I havent noticed anything.

[LTAWACS]

They are building this on the campus of the Houstonian. I dont think Ive seen any work done on it...

[Urbangeek]

by the looks of their new website, this project looks good to go. seems like a professional development team (shamrock )

redstone

[BayouCityGirl]

by the looks of their new website, this project looks good to go.  seems like a professional development team (shamrock )

redstone

<{POST_SNAPBACK}>

My uncle's business. Redstone how do you guys dig up my family's business! LOL!

first my grandfather in PR (Public Relations) -opening the Shamrock

and now my uncle's business "Redstone Companies" -Houstonian is VERY nice!!

my brother kidded with my uncle and asked, "Can I get a family discount at the Redstone" and my uncle kidded saying, "you couldn't even begin to afford it" LOL!!

[kjb434]

Great, we've been talking about this project. Great to see it get off the ground.

[KinkaidAlum]

Word is groundbreaking will occur in mid to late September. The site is still used as a surface parking lot but rumor around the Houstonian is that the employees who regularly park there have been informed about future disruptions.

Seems as if the Redstone was the winner amongst the ultra high-end proposals (Monaco, Orions, and Redstone) that all came out around the same time!

[YakuzaIce]

Good news, I am surprised that this wasn't talked about more.

[tomv]

Confusing. I assumed the building would be located where the Redstone Golf Course is, the new home of the Shell Houston Open. But it's at the Houstonian in the Galleria area.

[KinkaidAlum]

The Redstone Company owns the Houstonian as well as the new Redstone Golf Course. They also own a bank and are headquartered in an office building on the grounds of the Houstonian complex that bears the Redstone name. Thus, it's no surprise the tower is being built there.

[BayouCityGirl]

They also own Houstonian Lite (used to own Cafe Annies) also Cafe Adobes as well. As well as Shadowhawk Golf Course and some other golf courses. As I mentioned before my uncle is CEO of Redstone Companies. So I usually hear business talk at the dinner table when we go out to eat with family.

[houston-development]

oakmont (the project manager) is a reputable company and i believe this deal will happen. please feel free to check out the sales office within the redstone office building (4th floor, i think). while the sales office may not have the same pizazz as orion, i know they have worked the numbers over and over and over. all Is are dotted and all Ts are crossed.

if any highrise condos "were" to happen, this would be the 1st out of the ground in my humble, honest opinion.

[Trophy Property]

They also own Houstonian Lite (used to own Cafe Annies) also Cafe Adobes as well. As well as Shadowhawk Golf Course and some other golf courses.  As I mentioned before my uncle is CEO of Redstone Companies. So I usually hear business talk at the dinner table when we go out to eat with family.

<{POST_SNAPBACK}>

Isn't the majority or redstone owned by a lady (a very rich lady?) I have heard she is pretty tough to deal with, but fair. I used to date a girl that worked for Redstone (well I went out with her three times and never called her again) and she loved the place.

[Lowbrow]

Isn't the majority or redstone owned by a lady (a very rich lady?)    I have heard she is pretty tough to deal with, but fair.    I used to date a girl that worked for Redstone (well I went out with her three times and never called her again) and she loved the place.

<{POST_SNAPBACK}>

That is my understanding as well, Trophy. I'm (kind of) a member at the houstonian (the Augusta YMCA is just too convienent) and the people that work for her are pretty loyal. When the energy sector went south and the fitness industy in Houston was hit hard, she was the only outfit to not lay off workers. She just worked in the red for a bit until the money came back. Good practice in my book.

[BayouCityGirl]

I'm not sure who this woman is. I don't know the Redstone companies that well. Sorry.

Perhaps this can help?

http://www.redstonecompanies.com/biographies.htm

[Lowbrow]

Well, I see that that site says the Redstone company bought the Houstonian out of bankruptcy in 1992. So maybe her "good *business* practise" cost her. <smirk>

[The New Juniper]

Heard today from someone that would know that Redstone is backing out of the condo tower at the Houstonian. Unreal. If anyone can confirm either way, i'd appreciate it.

TNJ

[ecal_in_Taipei]

Heard today from someone that would know that Redstone is backing out of the condo tower at the Houstonian. Unreal. If anyone can confirm either way, i'd appreciate it.

TNJ

I guess you're right: chronicle article

Blamed on variety of things: Katrina, million dollar condos not in demand, construction costs rising

[houstonfella]

Bummer. At any rate, we have plenty of others that will rise. I do think that too many towering condos were planned at the same time, when the market is already saturated. Stay tuned.... Houston's ever changing skyline will continue to do just that.

[hokieone]

The article does make a good point about the $1 million plus market. It has got to be hard to justify condos that are that expensive in the Houston area. However, they do note the active market for Randall Davis's complexes that are in the 300K and up range. So hopefully the builders will take note of that.

[UrbaNerd]

Blast it....

Althought, the articles states a growing interest in midrise living, such as the ones by Randall Davis. Hopeflly, the developers realize this, and begin to make some more midrise developments, which would better contribute to the urban scene (although from the renderings of the Empire, the street-friendlinss of the design could still use a bit of help).

[houston-development]

construction costs rising

the cost of concrete alone is 30% higher

[jt16]

With $200 billion in federal aid going to the Gulf Coast and all the new construction will Houston construction projects be hurt? All that construction at the same time has to escalate building costs? It's just a theory, and I'm sure some on here would know better than I would.

[The New Juniper]

With $200 billion in federal aid going to the Gulf Coast and all the new construction will Houston construction projects be hurt? All that construction at the same time has to escalate building costs? It's just a theory, and I'm sure some on here would know better than I would.

It's not just a theory, it's a painful reality.

China, natural disasters, etc. are putting huge demands on building materials and labor. It is an unfortunate side effect (at least from the developer side) that the increased demand drives up costs.

Increased concrete alone is not insurmountable, however, when you figure concrete, steel (i.e. metal studs and structural steel), drywall, all going up 25%+, it makes marginal projects no longer feasible.

Developmental Darwinism....

[kjb434]

We should appeal the steel tariffs to help that price. American steel is way overpriced.

The cement powder for concrete is another issue. Demand is high and the US imports most of its cement power. We do import some of the raw materials to make the powder and manufacture it here, but most if the finished product comes on ships.

As an engineer, I'm noticing contractors are bidding slightly higher than cost estimates. The cost is showing up in the concrete and in hauling items. We are currently adjusting our cost estimates so we can give our clients better numbers. It doesn't look good when all the contractors bidding bid higher than the estimate.

As long as these projects can cover the rising construction cost with their sales, i think we will be fine, but i'm wondering what this will do to types of available units in the new condos.

[houston-development]

here's the deal... and please do not ask me to elaborate because i wont

at first, redstone was going to do the deal internally and with their own money. after seeing several projects up on the drawing board (orion for one), they decided it wasnt worth having that much cash exposed. someone came in and said they would take over redstone's equity position, including purchasing the land. the new equity started to get cold feet and asked redstone to be a jv with the land. again, redstone wasnt too excited about the deal and perfered for it to be an all-or-nothing deal.

after serveral rounds of attempting to negotiate and renegotiate, everyone threw their hands in the air and said "ah, screw it".

the end.

[kjb434]

I see no need to elaborate then.

It's pretty clear of what the deal Redstone wanted and they couldn't get it.

It seems like a simple business decision.

[houston-development]

It seems like a simple business decision.

yep, it really was just that easy

as always, your insightful background chatter is always appreciated.

[caroline]

They're going insane with these highrise condos. They'll flood the market with them, and in a few years, when occupancy is like, 50%, they'll lower the prices. I plan on taking full advantage.

I heard the one at Sage and 59, that was built 6 or 7 years ago, charges a $1200 monthly maintainence fee. That's another house payment.. and their occupancy is at around 60% right now (I wonder why?).