HOUSTON | Development Thread II

[The Best Forumer]

Developers here are chicken.

[Urbannizer]

Best Buy on the hunt for 600,000 SF in Houston distribution space

Minnesota-based Best Buy Co. Inc. (NYSE: BBY) is on the hunt for industrial space in Houston between 500,000 square feet and 600,000 square feet, multiple sources close to the deal told the Houston Business Journal.

Avison Young's Jeff Lindenberger, who's representing Best Buy, confirmed that the company's looking in Houston but declined to comment further.

"I can confirm that Best Buy is looking for space," Lindenberger said. "It’s been a lengthy process."

The company's been looking in Houston for several months, sources said, and is considering sites in west Houston, Generation Park and sites near Interstate 59 near the Bush Intercontinental Airport.

It's unclear what operations would take place at the facility.

[TexasPlaya]

Originally Posted by The Best Forumer

Developers here are chicken.

Considering how much office space is empty, they have a good reason to be.

[Urbannizer]

Originally Posted by Urbannizer

New info: Caydon Property Group is the developer, this will be their second project in Houston. Plans call for two mixed-use residential towers according to the updated FAA filing. Gensler is the architect.

Australian developer acquires more land in Midtown

Caydon Property Group has acquired more land in Midtown for a mixed-use project anchored by a luxury apartment tower.

The Melbourne, Australia-based developerpurchased a 41,000-square-foot site on a half city block bounded by Main, Dennis and Fannin streets. Current Standing Developments — formerly known as PLC Capital Corp. — sold the property to Caydon for an undisclosed amount. The deal closed on Aug. 2.

Caydon plans to develop additional high-end residential, retail and a large parking garage on the site, which sits two blocks north of its luxury apartment project.

[Urbannizer]

Another urban mixed-use HEB concept is planned for Houston. This time in Upper Kirby.

HEB planning Upper Kirby land buy

H-E-B is under contract to buy property at the northwest corner of West Alabama and Kirby across from Whole Foods Market and Bed, Bath and Beyond.

Scott McClelland, president of H-E-B Houston, said Tuesday the company is in a due diligence phase on the property, but declined to provide additional details.

From 12/16: https://www.bizjournals.com/houston/...ses-on.html#i2

Another developer, yet to be announced, is planning a large mixed-use project across Steel Street from Hanover and Stolz’s projects. New York-based Thor Equities is also developing a major mixed-use project called The Kirby Collection at 3200 Kirby Drive in Upper Kirby.

[The Best Forumer]

This is all good news.

[clubtokyo]

I feel like that area is another "skyline" for Houston, its so crazy how Houston has all these "not downtown" skylines. Its neat.

[Urbannizer]

Greenspoint Mall under contract for redevelopment

Greenspoint Mall is under contract to be sold and redeveloped, ending its life as a retail center that has for years lost stores and customers.

A group of investors with a company called Global Plaza Union have agreed to purchase the property at the intersection of Interstate 45 and Beltway 8 and transform it into some sort of mixed-use development. The group is considering three concepts and declined to specify them before the sale is finalized.

Reggie Gray, president of the Houston Intercontinental Chamber of Commerce, facilitated the transaction. He expects it to close within the next four months, a due-diligence period that will determine the plan for the project.

Feng Gao, a Chinese real estate developer, is the primary investor in the development. He has developed a number of properties in Asia and established a U.S. company, WIT Union, to complete the Greenspoint project, his first in the U.S.

[deja vu]

Originally Posted by Urbannizer

Greenspoint Mall under contract for redevelopment

My father in law used to drive past there every day for work for a long time. I saw it a few times; it was always dead. I've heard it referred to as 'Guns-point" an apparent reference to sometimes violent events that occurred there or nearby.

[Urbannizer]

New Luxury Apartments to Rise Near JFC’s Birdsall Memorial Project

Jordan Foster Residential definitely earned the contract to build City Place Memorial Park in Houston, thanks to the mountain of HUD paperwork that the RFP required.

Located inside Loop 610, close to Houston’s Memorial Park, City Place will provide luxury multifamily housing in an urban infill location near the central downtown business district. The development is a market-rate luxury apartment complex, with 264 units divided between two buildings on non-contiguous sites, separated by a thoroughfare. There will be a cumulative total of 235,007 net rentable square feet.

But first, demolition of the existing, obsolete apartment complex and townhomes on the two adjacent city blocks must take place. The owner had acquired the properties in April 2013, and operated the complex until November 2015.

The two new City Place structures will be four stories of wood-framed construction over a two-level, cast-in-place concrete garage. The first building will host an amenity/leasing area on the ground floor level. Elevated swimming pools will be featured on the podium decks of both buildings. The exterior of the buildings will consist primarily of stucco and brick/cast stone.

The City Place Memorial Park client is Farb Homes, operating as 57 off Memorial Ventures, LLC for this project. The architect is Wallace Garcia Wilson of WGW Architects.

City Place Memorial Park was secured through a HUD GMP with Lump Sum Side Agreement contract. The projected start date is targeted for August 20th, with a project duration of 24 months.

[Urbannizer]

The new Le Meridien hotel (former Melrose Building)


@apvossos

[The Best Forumer]

Is this the same building with the greenish exterior wall?

[TexasPlaya]

Originally Posted by The Best Forumer

Is this the same building with the greenish exterior wall?

Yep, looks real 80ish during the day in my opinion. I like it though overall.

[The Best Forumer]

well it looks nice...

[Urbannizer]

Bunker Hills

21-story high-rise proposed for Memorial City, Bunker Hill Rd @ I-10. Ziegler Cooper is the architect. There's also an office building shown but it's unlikely to be built anytime soon.

Video Link

[Urbannizer]

Buffalo Heights

[Urbannizer]

14-Story Hyatt House/Hyatt Place coming to the Texas Medical Center @Fannin and Old Spanish Trail. On the planning commission agenda this week.

[Urbannizer]

^^ Renderings:

http://www.hardamhotels.com/portfoli...rk-houston-tx/

[drummer]

^^ Other than a handful of details, this one looks remarkably similar to the one in downtown Austin.

[The Best Forumer]

They do that to save money... just like the Houston houses...