SA - Pearl District > Eighteen Hundred > Renderings and Information

[sirkingwilliam]

Chad, are those hanging lights actually part of the development? I hope so.

[sirkingwilliam]

Here's the lot that the 9 story building is going up on.



I always have wondered why that lot was never developed. I figured it was owned by Sam's and they used it for overflow parking or something. But never saw cars parked on it.

It's good to know something is being down with it.

[KevinFromTexas]

Originally Posted by KeepSanAntonioLame

http://maps.google.com/maps/ms?msa=0...a3546e67acb91d

Here's a map I did of under construction/proposed/recently finished projects on Broadway.

Good work. Keep it up. If it's possible, you should add links to those projects' website and maybe even include a rendering if that's possible.

[alexjon]

I just realized how close this is being developed to Playland...

[sirkingwilliam]

Here's a rendering I pulled off of the Broadway Developments site. Broadway Developments is George Mauze's development company. It may be an outdated rendering though as it's only 7 stories. It does seem that however it eventually looks, its footprint will take up the entire lot, which I like.

For those not formally with Mr. Mauze or Broadway Development, he and his company have down a couple of office developments on Broadway within the last few years

Here's a brief illustration of what they've built. 1, 2 and 3 are office buildings. 4 is this condo development.

What's New : Broadway Developments Map

[chadpcarey]

Originally Posted by sirkingwilliam

Chad, are those hanging lights actually part of the development? I hope so.

Yes, they are.

I thought George's building was 9 stories, but I'm not completely sure.....

Chad.

[sirkingwilliam]

I just like that the footprint is large, the entire lot. As opposed to using 1/4 or 1/3 of the lot and the rest for surface parking or something. The site also said construction should begin in 2008. Do you know when exactly?

Also, Chad, hope I'm not brothering with these questions, but do you know of any other developments in this area? With BRAC and everything else (River North, Riverwalk extension, etc) there has to be stuff cooking.

[sirkingwilliam]

The site of the 7 story building from 281.

[KeepSanAntonioLame]

Originally Posted by KevinFromTexas

Good work. Keep it up. If it's possible, you should add links to those projects' website and maybe even include a rendering if that's possible.

I'm not sure about pictures, but I will try and add links to renderings.

[chadpcarey]

Originally Posted by sirkingwilliam

I just like that the footprint is large, the entire lot. As opposed to using 1/4 or 1/3 of the lot and the rest for surface parking or something. The site also said construction should begin in 2008. Do you know when exactly?

Also, Chad, hope I'm not brothering with these questions, but do you know of any other developments in this area? With BRAC and everything else (River North, Riverwalk extension, etc) there has to be stuff cooking.

I would be suprised if George's deal is out of the ground this year. It takes a loooooooong time for these urban deals to get required approvals.

There aren't really that many things happening that haven't already been reported on. Part of the problem is that costs are crazy - and they make the prices for these deals (rent, condos, retail space) crazy as well. Everyone on this board loves the idea of urban neighborhoods, but to do them correctly, they're very, very expensive.

Another major problem is property owners with crazy expectations on price. I know it looks like there are tons of properties to buy........but trust me, I've contacted just about every owner in this area, and people's expectations are way out of touch.

Chad.

[oldmanshirt]

Originally Posted by chadpcarey

Another major problem is property owners with crazy expectations on price. I know it looks like there are tons of properties to buy........but trust me, I've contacted just about every owner in this area, and people's expectations are way out of touch.

That's what I've always heard is the reason there's not more or quicker development around the urban core. But sooner or later you'd think the owners of these properties wouldn't be able to resist and finally cash in, right? Or are they really just content to sit on an empty lot indefinitely?

At the very least, those owners who own multiple properties in the downtown vicinity (of which I'm sure there are several), would realize that by allowing a couple of their properties to be sold and developed, it would cause their remaining properties to gain that much more value. I'm far from being a real estate wiz, but that makes sense to even me

[alexjon]

You ought to go to the Government Hill Association meetings, Chad-- there's some intermingling in property ownership and I think it'd be a good place to find willing sellers on the Broadway corridor who also own property in the adjacent neighborhood and want their property values to go up.

[alexjon]

Originally Posted by oldmanshirt

That's what I've always heard is the reason there's not more or quicker development around the urban core. But sooner or later you'd think the owners of these properties wouldn't be able to resist and finally cash in, right? Or are they really just content to sit on an empty lot indefinitely?

Eh, it's the neighborhood.

They had plans to update the entire layout from Broadway to N. New Braunfels but decided in general to sit on what they have. This is why you have the Antonian and that new restaurant, but not much else on New Braunfels.

The good thing though is that when you get one of the main property holders to sell in the area (like Florence Alcosar) the rest will follow and it will definitely effect Broadway almost immediately.

[chadpcarey]

Originally Posted by oldmanshirt

That's what I've always heard is the reason there's not more or quicker development around the urban core. But sooner or later you'd think the owners of these properties wouldn't be able to resist and finally cash in, right? Or are they really just content to sit on an empty lot indefinitely?

At the very least, those owners who own multiple properties in the downtown vicinity (of which I'm sure there are several), would realize that by allowing a couple of their properties to be sold and developed, it would cause their remaining properties to gain that much more value. I'm far from being a real estate wiz, but that makes sense to even me

Oldmanshirt:

You would think.........but people are strange......and behave irrationally when it comes to these sort of decisions. Some do want to cash in, but most are content to wait for a certain number (disconnected from current reality). It would help if BCAD got more agressive on land valuations.......it would make it harder to hold on......

Also - an interesting phenomenon - property owners are generally very hesitant to be "the first" to sell.........they're fearful that people who hold on will get a much higher price.........an economic motivation, but also an aversion to looking stupid for selling "too cheap".......very paranoid, but if you were within spitting distance of Broadway & Pearl, you'd be hesitant to sell for a reasonable price, too........the only reason we were able to buy our site is because the owner was motivated by other issues.........

It's funny.......most people think real estate developers can pay "whatever" for a site...........and it's just not true, especially now, with capital markets on life-support.......

Chad.

[chadpcarey]

Originally Posted by alexjon

You ought to go to the Government Hill Association meetings, Chad-- there's some intermingling in property ownership and I think it'd be a good place to find willing sellers on the Broadway corridor who also own property in the adjacent neighborhood and want their property values to go up.

Alex -

I'm a member, but don't go to the meetings, though I probably should. I know most of the owners on Broadway...........they can't hide from me!!!

Chad.

[alexjon]

I know most of them, too (or my grandma does anyhow) and they're all simply stubborn people. They can be cajoled!

The meetings aren't all that interesting but important since they reveal a major aspect of that neighborhood: most of the people active in the association are owners but not residents.

I think you'll find some excellent leads if you hit them up.

[KeepSanAntonioLame]

Any idea when construction might start?

[KeepSanAntonioLame]

http://www.sanantonio.gov/historic/docs/HDRC_AGENDA.pdf

Page 354 contains new/old maps, renderings etc

[The Model]

9 stories?
I want 25 stories.
In Dallas, once your leaving downtown, you see the W hotel, and the American Airlines Arena. Well in SA, you can have this new tall building, with the Pearl Brewery, next we need to get rid of the laboratories, and that storage place, with owner who likes to put up sick billboards to make people mad.

Behind Denny's? That was a good one, I can't wait, till we remove that Denny's.

[verbl]

Agreed