HOUSTON | Development Thread II

[H-TownChris]

2929 Weslayan:
2929_Weslayan-20150324-180939 by H-TownChris, on Flickr
Amegy Bank HQ:
Amegy_Bank_Hdqtrs_Camera_1_March_24_2015_12_00pm by H-TownChris, on Flickr
Astoria and BHP Billiton:
5_Oaks-20150324-124435 by H-TownChris, on Flickr
Skyhouse Main:
Skyhouse_Houston_Main-20150325-080910 by H-TownChris, on Flickr
Skyhouse River Oaks:
SkyHouse_River_Oaks-20150325-080623 by H-TownChris, on Flickr

[Urbannizer]

The Park Moderne: A new boutique condo project proposed. Mirador Group is the architect.

[toxteth o'grady]

Nice looking building - looks a bit like the Marlowe with some creative touches on the massing. Have they mentioned a location?

[toxteth o'grady]

BisNow is talking about new development up north in today's blast mail. First up is a developer doubling office space opposite Exxon Mobil, since two buildings are better than one. July 1 start:



"Here’s a rendering by Powers Brown, which is designing Energy Crossing North. Construction will take about 14 to 16 months, and Trey says he thinks it’s timed just right—the team will be able to take advantage of a market correction and lower construction costs and will deliver in late 2016 when the market may be picking up again. All available corners at the Hardy and Northgate Crossing are being developed now (one is an existing elementary school)—Halberdier’s five-acre project will join two hotels and a Class-A multifamily community under construction already."

Hughes is also talking about 10 Waterway Square (400 to 500 ksf) and about a hospital expansion and medical office building for Methodist Hospital that I thought was already underway. What's encouraging is that developers claim to have interest from a lot of out-of-town and out-of-state companies, including Fortune 500s, for office space in the Woodlands and SpringWoods.

The other interesting piece is that development over the next couple of years is expected to increase the urbanization of Willis, north of Conroe. So there could be a corridor of solid development from Downtown almost to Huntsville by 2020:

"Keep your eye on Willis, says Caldwell Cos CEO Fred Caldwell (another speaker). He’s seeing people and companies migrate north from The Woodlands, and says we’ll be talking about the area north of Conroe a lot over the next year or two. Activity is spreading outside of The Woodlands in pretty much every direction—moving west is preferred, but the area east of 45 is definitely popping. He’s expecting a fair amount of single-family and retail activity (multifamily has gotten tricky because of financing, and spec office is less viable, he says). Fred says land prices are holding steady across North Houston, and development activity has continued, a good sign that the area is resisting an energy-related panic."...

[Ant131531]

Originally Posted by Urbannizer

The Park Moderne: A new boutique condo project proposed. Mirador Group is the architect.

Very nice. Cities like Houston, Atlanta, and Dallas needs more of this type of development and not the big blocky 300+ unit developments.

[Double L]

Originally Posted by Urbannizer

The Park Moderne: A new boutique condo project proposed. Mirador Group is the architect.

We should have a few of these for our architectural diversity but not too many because they are ugly.

[toxteth o'grady]

Latest Census estimate says metro Houston now has a tad short of 6.5 million people, as of July 1, 2014 (it's probably over 6.5 million by now). The area has gained half a million people in four years.

Census: Houston, Dallas only two metro areas to add more than 100,000 people

(A little qualifier: both the Los Angeles and San Francisco SCSA's also added 100,000+ new residents, if you add Riverside/San Bernardino to LA and San Jose, Napa and Santa Rosa to SF. New York and DC were slightly less than 100,000)

[toxteth o'grady]

3/26 by Purdueenginerd at HAIF. Find your favorite downtown project here:

[dgpatel]

I-69 is officially designated for the inner loop. I wonder how long until we see signs go up.

Key 11.9 Mile Section in Houston Added to I-69

The 11.9 mile section of US 59 inside of Loop 610 in Houston has been added to the Interstate Highway System as Interstate 69. All of the route through Harris County is now part of I-69 and a continuous section of 75 miles of I-69 is now in place through Montgomery County, Harris County and extending to a point at the south edge of Rosenberg in Fort bend County. The Texas Transportation Commission voted March 26 to complete the designation process for the section through central Houston.

Source

[Urbannizer]

Originally Posted by Houston Chronicle

Menil breaks ground for innovative drawing institute

Daylight is the death-enemy of drawings, he told them, but you have to use it.

Menil Collection director Josef Helfenstein gave architects Sharon Johnston and Mark Lee an impossible-sounding challenge when their firm won the commission to design the Menil Drawing Institute in 2012.

The solution they unveiled last year is now becoming real. Officials break ground Friday for the first new art building in 20 years on the idyllic 10-block Montrose campus, one of Houston's premiere cultural assets.

The institute is the highlight of a $40 million project that includes a new park, an extension of West Main Street and a high-efficiency energy facility to serve all of the Menil's exhibition buildings. It will be the first free-standing facility in the U.S. built for the conservation, study, exhibition and storage of works on paper, an increasingly appreciated medium that can be the starting point for many kinds of art-making.

[Urbannizer]

Originally Posted by Houston Chronicle

Bayou redo lures luxe development

The restoration of Buffalo Bayou between downtown and River Oaks has attracted another builder to the area who has plans to develop high-end condominiums costing more than $1 million.

Al Ross, the former sign magnate who for the past couple of years has been developing multimillion-dollar mansions on spec - that is, without buyers lined up in advance- is building his first multifamily project just south of the bayou at 1034 Rochow between West Dallas and West Clay.

The six-story building, to be called the Monroe at Bayou Park, will have nine units, including a 7,000-square-foot penthouse that comes with a year's worth of housekeeping services.

"Our focus is going to be to really pamper residents," Ross said.

Full article: http://www.houstonchronicle.com/busi...#photo-7721927

[toxteth o'grady]

Nine units on five floors? That's a New York ratio. But you do realize the rendering is on the banks of the Potomac.

Exxon Mobil moves out, Swift Energy moves in. Backfilling in Greenspoint:

Houston energy company leases former Exxon space

[shakman]

Originally Posted by toxteth o'grady

3/26 by Purdueenginerd at HAIF. Find your favorite downtown project here:

That's a great shot. I would like to see this from the same five years from now. If built within the next five years, Capital Tower will also be visible from this angle.

[rdavis4559]

Originally Posted by dgpatel

I-69 is officially designated for the inner loop. I wonder how long until we see signs go up.

And my GPS gets to tell me for no helpful reason when I cross over 59 to 69 or vice versa.

[Dariusb]

Originally Posted by toxteth o'grady

Latest Census estimate says metro Houston now has a tad short of 6.5 million people, as of July 1, 2014 (it's probably over 6.5 million by now). The area has gained half a million people in four years.

Census: Houston, Dallas only two metro areas to add more than 100,000 people

(A little qualifier: both the Los Angeles and San Francisco SCSA's also added 100,000+ new residents, if you add Riverside/San Bernardino to LA and San Jose, Napa and Santa Rosa to SF. New York and DC were slightly less than 100,000)

Houston will soon pass up Philadelphia.

[Soignies Forest]

I believe both Houston city and the Houston MSA have passed Philadelphia. Houston is the 4th largest in population, has the 5th largest metropolitan statistical area population, and the 4th largest GDP. Doing nicely.

[toxteth o'grady]

Originally Posted by Dariusb

Houston will soon pass up Philadelphia.

That should happen some time in 2011.

If the economy stays good, there's no reason Houston can't move ahead of DC on all fronts by 2020. And Chicago's not that far ahead.

[AviationGuy]

Originally Posted by toxteth o'grady

That should happen some time in 2011.

If the economy stays good, there's no reason Houston can't move ahead of DC on all fronts by 2020. And Chicago's not that far ahead.

Careful...the Chicago forumers will start attacking Houston again if there's any hint that Houston could surpass Chicago at some point (kidding, of course).

[Urbannizer]

http://swamplot.com/site-work-underw...rk/2015-03-27/

Originally Posted by Swamplot

Site Work Underway for Proposed Mixed Use Center Between BP and Terry Hershey Park

HERE ARE PICS of some of the clearing work PM Realty Group has been orchestrating along the south side of I-10 between Eldridge and Hwy. 6. The company bought the headquarters of the ExxonMobil Chemical Company at 13501 Katy Fwy. in late 2013, and announced plans for a mixed-use development including office towers, apartments, a hotel, a fitness center, restaurants, and convenience retail” on the 35-acre site. ExxonMobil was scheduled to exit the building (pictured below) this year:

The clearing, on the northwest corner of the property, is for site drainage improvements well in advance of the development, a note on PMRG’s website for the property explains.

[toxteth o'grady]

The Chronicle reported on an interesting collection of land purchases. I noticed the following:

"...Allen Harrison Co., an apartment development and management firm based in Houston, has purchased 2.97 acres at the northeast corner of Frankway and Braeswood just inside Loop 610. Tony Patronella and Christie Amezquita with Read King represented the seller, Braeswood Ltd.

Opal Hospitality Group has purchased 3.28 acres in Forresta Village at the southwest corner of Greenhouse and Park Row in the Katy area. The land will be used to develop a 180-room Crowne Plaza Hotel & Suites by Intercontinental Hotel Group. Nabil Murad of NM Management represented the seller, Forresta Inc. Altaf Akbari of Sperry Van Ness represented the buyer.

Greenhouse Apts LLC has purchased 12.4 acres as the site of a 350-unit apartment community in Forresta Village at Greenhouse and Park Row. The property will be developed by a joint venture between Lynd Development Partners of San Antonio and D Delta investment group of Mexico. Nabil Murad of NM Management represented the seller, Forresta Inc. Jeff Peden of Cushman & Wakefield represented the buyer..."

The Braeswood property sounds like it will almost certainly end up a midrise wrap, given its location, and the Crowne Plaza should be 8-10 stories if it's like the others. The other Forresta property sounds like it will be 4 stories worth of apartments.

Houston land deals