HOUSTON | Development Thread II - Page 567

gclass · #**11321** Posted **Oct 9, 2019, 11:18 PM**

Quote:

Groundbreaking scheduled for retail piece of Allen Parkway mixed-use project

By Jeff Jeffrey – Reporter, Houston Business Journal

Developers behind The Allen, a high-end mixed-use development planned for a 6-acre tract off Allen Parkway, have announced an official groundbreaking date for the first phase of the retail portion of the project.

While crews are already working to excavate the site, Houston-based DC Partners has scheduled a groundbreaking ceremony for Nov. 6. The ceremony will celebrate the start of construction on The Allen's Pavilion portion, which will offer space for retail and dining establishments.

The Pavilion will be one of the key amenities at the $454 million development.

The Allen development is anchored by a 34-story tower dubbed The Residences at The Allen. The first 14 floors of the tower will operate as a hotel overseen by Hyatt Corp.’s boutique subsidiary, Thompson Hotels. The remaining floors will be composed of 99 luxury condo units, with a starting price of about $1 million. Units on the penthouse level will start at $2.6 million.

DC Partners broke ground on the tower earlier this year. Preleasing for condos in the building opened in June.

The Allen development will also include an office component.

Construction of a 3,000-square-foot sales center wrapped up in June. The $500,000 sales gallery includes full-size, functional representations of two different kitchen options, bathrooms and closets, as well as on-site samples of finish materials from which buyers can choose to customize their new home.

The centerpiece of the gallery is a 3D software program that allows viewers to take a virtual tour of the entire complex, including inside individual condo units. The program even allows viewers to select various finish options to get an idea of what they would look like once installed.
The Residences at The Allen

DC Partners President and CEO Roberto Contreras has said The Allen aims to provide an ultra-luxury blend of live-work-play space along Allen Parkway, one of Houston’s fastest-growing areas. Contreras has also touted the area's easy access to downtown, the Theater District and Buffalo Bayou Park.

In fact, a number of Houston-area real estate professionals have attributed the boom in development along Allen Parkway to the completion of a $54 million renovation of Buffalo Bayou Park.

Not far from The Allen development, Houston-based Midway Cos. is wrapping up development of phase one of another mixed-use development. Buffalo Heights, which is owned by BKR Memorial II, a private company owned by the Russell and Glenda Gordy family, is anchored by a new H-E-B location, which opened on Oct. 9.

Urbannizer · #**11322** Posted **Oct 10, 2019, 2:56 AM**

The RO: Greenway Plaza/Upper Kirby - 3120 Buffalo Speedway

Urbannizer · #**11323** Posted **Oct 10, 2019, 3:14 AM**

Quote:

Originally Posted by Urbannizer

The Founders District

Phase II to The Cannon, a coworking space near Beltway 8 in west Houston. Multifamily, hotel, office & retail.

This project has grown in size, latest idea:

Previously:

gclass · #**11324** Posted **Oct 11, 2019, 8:10 PM**

^^^ another COOL rendition of CAFE SODO...

Urbannizer · #**11325** Posted **Oct 15, 2019, 6:04 AM**

Houston Methodist North Campus Expansion Phase III - Texas Medical Center

Our first look at Phase III (right)

The Mary Gibbs Jones Building will be demolished to make way for the next expansion phase.

Urbannizer · #**11326** Posted **Oct 15, 2019, 9:14 PM**

1101 Main St. - Downtown

70's cladding on this small structure is being peeled off, unearthing its original state.

4411 Dallas St. - former Christ The Redeemer Church: East end

Former church is being converted into apartments.

Untitled by HoustonEado, on Flickr

JManc · #**11327** Posted **Oct 15, 2019, 9:31 PM**

Quote:

Originally Posted by Urbannizer

1101 Main St. - Downtown

70's cladding on this small structure is being peeled off, unearthing its original state.

Now just get rid of the corner store.

Cory · #**11328** Posted **Oct 16, 2019, 4:18 AM**

It’s about time. I also still can’t believe Main and Prarie is still a parking lot.

The Best Forumer · #**11329** Posted **Oct 17, 2019, 9:59 PM**

why what happened?

Wattleigh · #**11330** Posted **Oct 18, 2019, 4:13 AM**

This could be big - Skanska buys a full block downtown, as well as parts of two other adjacent blocks.

Press Release:
https://www.usa.skanska.com/who-we-a...for-55-million

Quote:

Skanska invests in land in downtown Houston, Texas for $55 million
Press release
10/17/2019 8:00 AM EST

Skanska has purchased four land parcels, including one full city block, totaling about 14,200 square meters in downtown Houston, Texas. The seller is a private citizen. The total investment amounts to $55 million.

Located adjacent to Discovery Green, these four sites are in Houston’s Central Business District and Skanska plans to develop a mix of office, multi-family and retail for the local community.

On HAIF, the specific parcels were identified...

Quote:

This is all of block 251, and portions of blocks 275 and 276.

HCAD currently shows ownership as MIPS Investments / MIPS Parking.

Block 251 is LaBranch/Dallas/Austin/Lamar - All parking, catty corner to Discovery Green

Block 275 is Austin/Polk/Caroline/Dallas - Half of which is already occupied by Marlowe, a couple of bars & Houston City Tours.

Block 276 is LaBranch/Polk/Austin/Dallas - All parking, but catty corner to Toyota Center

Urbannizer · #**11331** Posted **Oct 18, 2019, 7:27 AM**

IAH to break ground on expanded international terminal

Quote:

Bush Intercontinental Airport will begin redeveloping its international terminal on Friday, a project years in the making that will ultimately increase Houston’s capacity for wide-body jets capable of reaching new international destinations.

The $1.23 billion project essentially combines Terminal D and Terminal E into one terminal with a central area to house the ticket counters, security checkpoint and baggage claim. Today, international travelers departing on foreign airlines go to Terminal D, and international travelers on Chicago-based United Airlines go to Terminal E.

The project also includes six new gates for wide-body aircraft, such as the Airbus A350 and the Boeing 777 or 787 Dreamliner, bringing the total to 13 widebody gates on the north side of the new international terminal and six wide-body gates on the south of the terminal, plus additional room for narrower, single-aisle aircraft.

The expansion will allow the airport to continue adding international airlines, which is viewed as essential to a region that is home to dozens of companies that do business around the world, as well as international companies, particularly in the energy industry, that have headquartered U.S. subsidiaries here.

The TSA baggage facility and new pier are slated to open in the second and fourth quarters of 2022, respectively.

Terminal D renovations would be completed in the fourth quarter of 2023. The central area for ticketing and baggage claim, which first requires the demolition of the Terminal D/E parking garage and the addition of two floors to the Terminal C parking garage, is expected to open in the fourth quarter of 2024.

The Best Forumer · #**11332** Posted **Oct 18, 2019, 8:15 PM**

Quote:

Originally Posted by Wattleigh

This could be big - Skanska buys a full block downtown, as well as parts of two other adjacent blocks.

Press Release:
https://www.usa.skanska.com/who-we-a...for-55-million

On HAIF, the specific parcels were identified...

Block 251 is LaBranch/Dallas/Austin/Lamar - All parking, catty corner to Discovery Green

Block 275 is Austin/Polk/Caroline/Dallas - Half of which is already occupied by Marlowe, a couple of bars & Houston City Tours.

Block 276 is LaBranch/Polk/Austin/Dallas - All parking, but catty corner to Toyota Center

Let us hope it is something very tall... maybe like a space needle sort of thing...

photoLith · #**11333** Posted **Oct 18, 2019, 8:23 PM**

Quote:

Originally Posted by Urbannizer

1101 Main St. - Downtown

70's cladding on this small structure is being peeled off, unearthing its original state.

Wow, had no idea that disgusting corner store had beautiful 20's cladding underneath. That corner store is the last trash left in that part of downtown. Every time I went in there when I lived downtown like 7 years ago, it was full of trash people and panhandlers. It did at least have shitty cheap beer though.

gclass · #**11334** Posted **Oct 18, 2019, 11:30 PM**

Quote:

Bank of America Tower developer buys downtown Houston parking lots for mixed-use
By Olivia Pulsinelli – Senior web editor, Houston Business Journal
Oct 18, 2019, 1:26pm CDT Updated Oct 18, 2019, 5:20pm CDT

New York-based Skanska USA Commercial Development has purchased four parcels of land around Discovery Green in downtown Houston for a new development.

Skanska paid $55 million in total for the properties, which were sold by a private citizen, according to an Oct. 17 press release. The parcels total around 3.5 acres, and Skanska plans to develop a mix of office, multifamily and retail on the land.

The press release does not identify where exactly the parcels are located, but a spokesperson for Skanska confirmed that one of the parcels is a full city block bordered by Dallas, Lamar, LaBranch and Austin streets, with another just to the south and a third just to the east, wrapping around the Embassy Suites by Hilton Houston Downtown. There's also a small parcel in another adjacent block.

Those four properties are all parking lots owned by MIPS Investments LLC and MIPS Parking LLC, according to the Harris County Appraisal District. Combined, they have an appraised value of nearly $30.06 million and span about 3.48 acres, according to HCAD.

Skanska plans to begin the master planning process for the sites by the end of the year, which will help determine a development timeline and more details about the project, a spokesperson confirmed.

“We are excited about this next endeavor for Skanska Commercial Development in Houston," Matt Damborsky, executive vice president of Skanska USA Commercial Development in Houston, said in a statement to the HBJ. "For this project, Skanska will tap our global expertise in multifamily, office and retail development as we consider the best uses for these sites advantageously located in the city’s front yard at Discovery Green. These prime acquisitions include a full city block, which will be transformed into sustainable, high-quality space in the urban core. We look forward to advancing the master planning process so we can begin creating this dynamic community reflecting the vibrant cultural fabric of Houston.”

Skanska just opened its Bank of America Tower — formerly known as Capitol Tower — in downtown Houston earlier this year.

Bank of America Tower takes its name from the building’s anchor tenant. In July, Charlotte, North Carolina-based Bank of America (NYSE: BAC) moved more than 600 local employees into the building. The banking giant occupies 205,000 square feet of office space spread across six floors in the 775,000-square-foot building.

The building's tenants also include Skanska, Houston-based Waste Management Inc. (NYSE: WM), Houston-based Quantum Energy Partners and international law firm Winston & Strawn.

The lower floors of Bank of America Tower are dubbed Understory and connect to the downtown tunnels. The 35,000-square-foot Understory includes a 9,000-square-foot food hall that opened in August.
By Olivia Pulsinelli – Senior web editor, Houston Business Journal
Oct 18, 2019, 1:26pm CDT Updated Oct 18, 2019, 5:20pm CDT

Dariusb · #**11335** Posted **Oct 19, 2019, 2:47 AM**

Awesome!!

clubtokyo · #**11336** Posted **Oct 20, 2019, 4:18 PM**

That’s great news for those lots!

Urbannizer · #**11337** Posted **Oct 22, 2019, 3:21 PM**

'Strategic' Greenway Plaza-area property acquired by Houston-based real estate firm

Quote:

A 4-acre parcel in Houston’s Greenway Plaza-Upper Kirby area has sold to an investment group led by a local commercial real estate firm, which is considering a mixed-use project for the site.

The partnership led by Houston-Based Senterra Real Estate Group purchased the property at 3440 Richmond from a joint venture between Houston-based Midway and Cathexis RE Holdings, which is also based in Houston. David Hightower, an executive vice president at Midway, represented the selling entity.

The Senterra-led partnership did not disclose the sales price for the land located at 3440 Richmond Ave. However, the Harris County Appraisal District valued the land and improvements at $15 million as of Jan. 1, 2019.

Senterra Real Estate Group CEO Neil Tofsk said the partnership that purchased the property is still considering the best way to make use of it. However, he said a mixed-use development is among the possibilities.

“This is a strategic piece of property in the transformation of Buffalo Speedway,” Tofsky said. “The area is going to undergo tremendous changes over the next few years, and we wanted to be part of the transformation.”

The site was recently fenced off:

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