The long-discussed Equinox Hotel is expected to start construction at the River Oaks District later this year, with a new apartment building to replace a previously proposed office component.
Previous renderings showing the hotel tower & office building from the ROD thread
With the successful completion in 2015 of River Oaks District, a luxury mixed-use project boasting some of Houston’s top performing retail and restaurant destinations, OliverMcMillan is looking to develop a parcel adjacent to the current project. The parcel will consist of 267 luxury apartment homes located above 6,000 square feet of retail & restaurant space. The new development will also be located next to a new luxury hotel tower commencing construction in late-2018. Phase II is anticipated to begin construction in 2020 with a 2022 completion date
Exclusive: Long-Awaited 30-Story Midtown Tower Breaks Ground
PMRG, AECOM's 3300 Main High-Rise is Now Officially Underway
By Kyle Hagerty
May 22, 2018
A 30-story high-rise four years in the making is now officially underway in Houston’s Midtown.
After securing an unnamed joint venture equity partner and a loan from Goldman Sachs, PM Realty Group and AECOM have given the notice to proceed on the tower at 3300 Main St., according to PMRG Vice President of Investments, Carlos Chacon. Construction will take 24 months.
Designed by Baltimore-based CallisonRTKL, the mixed-use high-rise will feature 328 units with slightly less than 15,000 square feet of retail space and an attached six-story parking garage - with space for 608 cars - atop the project's ground floor retail space.
PMRG has had plans to turn the 1.2-acre plot into a mixed-use high-rise since 2014. In late 2016, PMRG closed on 3300 Main in Midtown, purchasing the 1.2-acre plot from the Midtown Redevelopment Authority, which listed proceeds from the sale of $6.6 million on its 2017 budget. The property housed a 1960’s-era office block once used by the city for its code enforcement operations, but was demolished to make room for the new structure.
The owner of a downtown office tower and adjacent parking garage that once housed the Sakowitz department store has listed the property for sale, citing an upswing in the energy industry.
Younan Properties, a commercial real estate firm based in southern California, has hired property brokerage HFF to sell the 19-story building at 1010 Lamar and the 1111 Main garage.
“The oil and gas market has been improving and we felt this would be an opportune time to market the property,” chairman and CEO Zaya Younan said in an email.
But even as the energy sector gains strength after years of dragging down the economy, the office market isn’t likely to benefit immediately.
“Office-using employment will see little job growth this year. Without an increase in demand for office space, it could take another three to five years to absorb the surplus in available space,” according to a Cushman & Wakefield report.
Downtown’s office availability rate, including sublease space, is 25.3 percent, compared with 27 percent market-wide, the report stated.
Younan’s 277,991-square-foot building was constructed in 1981. The parking garage was added in 1998 when the Sakowitz department store was purchased and converted. It has 490 spaces.
The office space is 55 percent leased. Offers on the property are expected to be in the the low- to mid-$40 million range.
As mentioned elsewhere.. These high end business districts will soon all merge with each other.
Uptown, Greenway Plaza, River Oaks, Upper Kirby, TMC, Midtown, etc. It''s going to be one continuous skyline
Yes! This is part of my plan.
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The suburbs are second-rate. Cookie-cutter houses, treeless yards, mediocre schools, and more crime than you think. Do your family a favor and move closer to the city.
If that's not a prime piece of real estate ripe for an 800-1000 footer... I don't know what is!?
There's a rumor floating around about something in this height range... with a "unique" crown... I saw somewhere a tower with a sort of spire.. but not really a spire...
__________________
The suburbs are second-rate. Cookie-cutter houses, treeless yards, mediocre schools, and more crime than you think. Do your family a favor and move closer to the city.
Hines eyes urban parcel near Whole Foods, Buffalo Bayou By Nancy Sarnoff Updated 6:14 pm, Tuesday, May 29, 2018
With a growing trend toward urban living, Hines has become one of the city's top developers of high-rise residential towers.
Its newest project may be right around the corner.
The Houston-based developer intends to purchase at least 1.3 acres at the southwest corner of Waugh and D'Amico, according to purchase memorandums filed in March with the Harris County Clerk's Office property division.
The memos reference sales contracts but are not final sale documents.
The Montrose-area property is next to the future Stages Repertory Theatre, across from a Whole Foods Market, and just south of Buffalo Bayou Park.
Hines declined to comment and the sellers could not be reached Tuesday.
Correct me if I"m wrong but the rendering of The District is 50% nonsense. There is no room for the building on the south side as that is the Diverse works and the north side there is no room for chairs as this is a garage that butts up against the street. Also, are they removing the main street median (its is hideous so that would be an improvement)? That is the corner of Main and Stuart. Too bad, that background building on the south looks good.
__________________
The suburbs are second-rate. Cookie-cutter houses, treeless yards, mediocre schools, and more crime than you think. Do your family a favor and move closer to the city.
Exclusive: McNair Interests planning $500M mixed-use in Uptown
By Cara Smith – Reporter, Houston Business Journal
Jun 4, 2018, 9:00am CDT
For its first mixed-use development, Houston-based McNair Interests plans to enter the market with a splash.
In 2019, the private investment and management company will break ground on a 1.2 million-square-foot luxury mixed-use development at the intersection of Richmond Avenue and Post Oak Boulevard, McNair Interests' chairman and CEO Cary McNair told the Houston Business Journal. It'll boast all the components of a high-end district: luxury residential units, a roughly 350,000-square-foot Class A office tower, around 30,000 square feet of upscale retail, chef-driven restaurants, green space and a 150-room Rosewood Hotel.
"I don’t know that there are very many projects like this around the country," McNair said."We feel like we’ve been a little bit of a rogue investor, and maybe we’re breaking new ground."
McNair estimated that the project's cost will be around $500 million. McNair Interests will wholly fund the project through typical real estate finance sources and lenders.
"We're having good discussions," McNair said. "Lenders are interested in this project."
The project will break ground in 2019 and deliver in 2023. A contractor and any leasing brokerages haven't been selected yet.
The development will sit on six currently unoccupied acres between the Best Buy at 5133 Richmond Ave. and the Broadstone Post Oak apartment complex. Chicago-based Skidmore, Owings & Merrill LLP is the architect, and Houston-based Patrinely Group will manage the project.
Rosewood Hotels & Resorts to Open Hotel in Houston's Uptown District
HONG KONG, June 4, 2018 /PRNewswire/ -- Rosewood Hotels & Resorts® has been selected by McNair Interests to manage a new, ultra-luxury hotel in Houston.
Set to open in 2023, the hotel will be Rosewood's second in Texas and their ninth in the United States. Ideally located in the city's exclusive Uptown District, the hotel will be near several of Houston's most popular sites including The Galleria, Texas' largest luxury shopping destination, and the Texas Medical Center, the largest medical center in the world.
The Rosewood hotel will consist of 150 rooms and will be located in an exclusive mixed-use and high-rise development led by McNair Interests, managed by the Patrinely Group and designed by Skidmore, Owings & Merrill LLP, a leading international architecture firm. In addition to the hotel, the six-acre site will include 80 luxury residences atop the hotel, multi-family residences, lifestyle-driven amenities, and retail and office space in Houston's highly covetable Uptown District.
Boasting two distinct dining venues, including a full-service restaurant and a vibrant outdoor pool bar, the hotel will offer visitors a sophisticated urban dining experience. Guests will also have access to Sense, a Rosewood Spa, as well as an outdoor pool and fitness center. The property's extensive meeting and events spaces will accommodate a variety of private gatherings, conferences and special events.
A new $150 million hotel and condo tower is planned for Houston's east downtown, along one of the area's most popular streets, Saint Emanuel.
This week STOA Architects shared renderings of the mixed-use Hotel RL, its new development at 1005 Saint Emanuel
Renderings show a building with two separate towers. According to STOA's president C.C. Lee there will be 280 condo units and 170 hotel rooms in total. Construction isn't due to begin until at least summer 2020 so STOA still has a few years until its time to break ground.
"We want to be the gateway to the EaDo neighborhood," he said, noting that the large square and circle on its facade is a nod to Chinese coinage and by extension, prosperity.
The Kim Hung Market occupied the site for years and will be leveled to make way for the 27-floor tower. But Lee says that doesn't mean the end for the market, which is no longer open to the public but serves as a grocery warehouse for suppliers. It will be incorporated into the first floor of the building.
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