Downtown Real Estate

[jt16]

Well the mosque was in the news today for other reasons. I'm not sure if this has anything to do with the closing.

[london0868]

I think the Mosque should be turned into a mixed use project with the focus being on music. I can see it being a great location for a Virgin Mega Records store with lots of strobe lights and loud music pumped out to the street. A young and hip cafe of some sort to go along with it would be nice too. Hell, I can even see an Urban Outfitters fitting in with that scene. There may be room for a book store also. Downtown needs a bookstore.

[YakuzaIce]

Which one is the Texaco building? Is that the same as the Heritage building--the one that is intended to look like an aztec/mayan temple?

<{POST_SNAPBACK}>

Yes, that was a Texaco building but not the one they were talking about. Isn't the proposed Clarion building on a block pretty close to Heritage Plaza?

I believe this is the Texaco building I believe they are talking about.

http://www.emporis.com/en/wm/bu/?id=117812

[111486]

I like renovations of old buildings, but in downtown Houston's case, I somewhat hate it. This is only because of the amount of surface lots.

[Subdude]

The Texaco Building is going condo in the near future.  A little bird told me....

That's great news if that bird is correct! Maybe we're finally going to get some traction on downtown residential. The Texaco building is one of the most beautiful downtown, and it is a shame that it has been vacant for so long. I'm not really surprised at this. Someone on-site at the Texaco building told me that they wouldn't make a final decision on hotel v condo until after the asbestos abatement, and right now the downtown hotel market seems clearly overbuilt.

[bachanon]

"traction" for downtown residential will explode when someone creates really affordable, quality housing. $1000 a month efficiencies aren't going to cut it. 2/2 flats for under $1000 would change the face of downtown. i'm not sure how this would be financially feasible for a builder/developer with current land costs. maybe mixed income developments could be workable.

[The New Juniper]

That's great news if that bird is correct!    Maybe we're finally going to get some traction on downtown residential.  The Texaco building is one of the most beautiful downtown, and it is a shame that it has been vacant for so long.  I'm not really surprised at this.  Someone on-site at the Texaco building told me that they wouldn't make a final decision on hotel v condo until after the asbestos abatement, and right now the downtown hotel market seems clearly overbuilt.

<{POST_SNAPBACK}>

Like you, I am hopeful. It is my understanding that the deal will be decided upon in the next two months. Unlike other (unnamed) projects in downtown, these folks will not announce anything until the deal is 100% ready to roll. There is nothing more damaging to a specific project, or any area like downtown, than to have consumer confidence waiver.

I understand the building is clean of hazardous material, read: asbestos and lead paint. There is obviously tremendous work to be done. My guess is they will focus on providing AMPLE PARKING. It is my humble opinion that in downtown Houston, the key to real estate is parking parking parking instead of location location location.

TNJ

[volvo99]

Has the optimistic orgy that theorized the Superbowl would bring tons of convention business finally hit the brick wall of reality?

I think Houston visitors were in love with the imaginary city Houston impersonated, and not Houston itself.

[MontroseNeighborhoodCafe]

Reuters file photo

Rafik Hariri was a billionaire and former prime minister of Lebanon.

Feb. 15, 2005, 5:54AM

Hariri owned JPMorgan Chase Tower, Houston's tallest building

He also had a stake in the new Calpine Center skyscraper here

By NANCY SARNOFF

Copyright 2005 Houston Chronicle

Rafik Hariri, the Lebanese billionaire and former prime minister who was killed in a bomb explosion on Monday, owned Houston's tallest office tower and held a stake in another.

Hariri owned the JPMorgan Chase Tower at 600 Travis downtown through his U.S. business subsidiary Prime Asset Management.

Prime purchased the building in the late 1980s from Hines, the Houston-based realty firm that still manages the property.

Prime also holds an interest in the new Calpine Center at 717 Texas in a partnership with Hines, which developed the building.

Hariri, who resigned as Lebanese prime minister last fall, was riding in a motorcade on Monday when he was killed in an explosion in Beirut.

Hines and Hariri's business relationship dates back two decades, said George Lancaster, a spokesman for Hines.

"Mr. Hines and several people that have worked closely with him are saddened by the tragic news," he said.

It's too early to tell what will happen to Hariri's interests in the Houston properties, Lancaster added.

The 75-story JPMorgan Chase building opened in 1982. It was designed by the famous architect I.M. Pei.

At 33 stories tall, the Calpine building was completed in 2003. Helmuth, Obata & Kassabaum was the architect.

[tierwestah]

I'm thinking of writing a letter to encourage better lighting to some of the buildings downtown Houston such as: Chase Tower, Chevron, Houston Centers (EXCEPT 5). I know this might seem a little insignificant to some of you all but i think a better nightlit skyline would better compliment what's happening at street level. Does anyone know the phone number and address and to whom i might need to send this letter of suggestion to? Any information would definitely be appreciated.

[Hunter]

Try this webasite it is the new City of Houston web saite and full of information. And actually very easy to use.

City of Houston Texas web site.

[SpaceCity]

Yeah, most of the downtown eateries are shut down on the weekends. I tried to do the same thing once.

[YakuzaIce]

The area seemed really dead. I was hoping to find a place to have some breakfast and coffee but no success. I didnt realize the tunnels were closed on weekends. I was downtown for about 8 hours and while I saw or walked past many homeless, I only got panhandled twice. I eventually had lunch at the Spagetti Warehouse.

<{POST_SNAPBACK}>

These places may not be where you want to go but I know that on Sunday about the time you went McDonalds and Krispy Kreme are open. The couple times I have gone there there were a fair number of people in both. Krispy Kreme is on the ground floor of the parking garage for Reliant's new building (on Main). McDonalds is on the ground floor of some HPD building (I think it has curved sides, and its brown, with little blue signs sticking out that say HPD) it is about a block and a half off main on Polk or Dallas.

[Lowbrow]

Youre right. I did see a few places open (like those two you mentioned) that would accept my money... they just wouldnt be giving me anything I wanted back in return.