HOUSTON | Development Thread II

[toxteth o'grady]

And the latest Texas LMCI labor numbers showed Houston with a healthy month to month increase in both workforce and number of jobs in February, so no sign of a slowdown yet.

[rellott]

Plot next to Barnaby's on West Gray

[url=https://flic.kr/p/ryQ44C]

[Michi]

March 29, 2015

EADO Station

Tower crane has left the site.

[skys the limit]

Lockheed Martin's gift to the world: abundant clean energy in 20 years

As if dealing with the wild gyrations and the boom and bust cycles of oil is not enough, abundant clean energy is on its way, estimated to be available in 20 years.

If successful with their initiative, Lockheed Martin will forever change the world as we know it.

The impact on the oil industry could be earth shattering:

http://www.engadget.com/2014/10/17/l...usion-chamber/

[TexasPlaya]

Originally Posted by skys the limit

Lockheed Martin's gift to the world: abundant clean energy in 20 years

As if dealing with the wild gyrations and the boom and bust cycles of oil is not enough, abundant clean energy is on its way, estimated to be available in 20 years.

If successful with their initiative, Lockheed Martin will forever change the world as we know it.

The impact on the oil industry could be earth shattering:

http://www.engadget.com/2014/10/17/l...usion-chamber/

Yawn.

[AviationGuy]

Why yawn?

[toxteth o'grady]

As somebody at MIT told me recently, fusion energy has been 20 years away for at least 20 years now.

What's more likely to happen is that enough solar panels will be put into operation to doom fossil fuel electricity AND fusion power before we hit 2050.

And other uses will be found for oil.

[toxteth o'grady]

The Arabs are buying up our old age homes and the Japs are opening supermarkets in Houston. According to BisNow:

"SEDCO Capital, a Saudi Arabian investor, partnered up with Kensington Realty Advisors to purchase Village at The Woodlands Waterway. That 207-unit assisted living/independent living/memory care facility is just the first of many senior housing acquisitions across the country, according to the Realty News Report. SEDCO head of real estate Samer Shaaban says the asset class fits into the Islamic teachings of being Shariah compliant, or investing ethically. Bulking up on senior housing (it says it will buy "a sizable portfolio" in the US) will also diversify its portfolio, he adds. The Village at The Woodlands Waterway was delivered in '07, sits along the water and is serviced by The Woodlands Trolley...."



"Japanese Grocer to Open First Houston Store

Watch out, 99 Ranch Market; another Asian grocer is coming to Houston. Marukai Corp will open an 11k SF store in Ashford Village. The grocer is yet unnamed and will be the first major Japanese supermarket in the metro. Susan Kwok Annoura is repping Marukai, and David Z. Mafridge Interests' David Mafridge, Andrew Clark and George Harsh repped the landlord, the Houston Business Journal reports. Marukai Corp owned nine Marukai Markets throughout California, such as the one in Los Angeles' Little Tokyo, pictured. The HBJ reports that Houston's Japanese population has boomed in the last few year—Susan says membership to the Japanese Business Association of Houston has leapt 50% in the last two years..."

[toxteth o'grady]

BisNow also has a nice summary of the leasing in five high-profile office buildings in Westchase:

5 BIGGEST WESTCHASE OFFICES BUILT THIS CYCLE

[Urbannizer]

http://www.bizjournals.com/houston/n...roject-at.html

http://www.mainstreettirz.com/images...in_RFQ_WEB.pdf

Originally Posted by HBJ

City seeks developer for mixed-use project at prime downtown site

The Downtown Redevelopment Authority is looking for a team to develop a major project downtown.

The 35,579-square-foot site at 1111 Main St. is expected to be developed into a multifamily residential and/or hotel mid- or high-rise tower with retail on the lower floors. The DRA issued a request for qualifications on March 30 for interested development teams. RFQ submissions are due May 26, according to the DRA's document, and deal is expected to be executed in February 2016.

Within the same block, the adjoining 19-story office tower at 1010 Lamar St. will provide two or three levels for lease to be repurposed and connected to the new retail space at the future 1111 Main tower.

[HoustonHorns]

I hope they can incorporate the old sakowitz building into the new residential/hotel project. Hopefully they keep it as the base and build on top of it. Overall, this has the potential to be an amazing project for downtown and Dallas street!

[TexasPlaya]

Originally Posted by Urbannizer

http://www.bizjournals.com/houston/n...roject-at.html

http://www.mainstreettirz.com/images...in_RFQ_WEB.pdf

I'm confused, is this land owned by Houston First Corp or DRA? Or is it trying to qualify for some subsidies?

[toxteth o'grady]

Originally Posted by HoustonHorns

I hope they can incorporate the old sakowitz building into the new residential/hotel project. Hopefully they keep it as the base and build on top of it. Overall, this has the potential to be an amazing project for downtown and Dallas street!

Okay, with the DLI oversubscribed, why were any more incentives needed?

[Nucleareaction]

Originally Posted by rellott

Plot next to Barnaby's on West Gray

[url=https://flic.kr/p/ryQ44C]

Looks like a carbon copy of that shopping strip over at UH, but I'll take it! Calhoun's deck has a great view

[toxteth o'grady]

One of Houston's larger employers just lined up 5 years worth of engineering work on one project in Azerbaijan, which should keep their headcount steady.

Fluor to manage Azeri petrochemical plant construction

[toxteth o'grady]

Originally Posted by rellott

[url=https://flic.kr/p/ryQ44C]

Anyone care to guess how long it's going to take those rowhouses to eat the bungalow next to them?

[toxteth o'grady]

Houstonia dishes on Downtown like there's no oil slump...

Is Downtown Finally On Its Way Up?

[TexasPlaya]

Originally Posted by toxteth o'grady

Houstonia dishes on Downtown like there's no oil slump...

Is Downtown Finally On Its Way Up?

I think this is more of the reality for the next year or two (oil prices may rise again quickly if the Middle East breaks out in war):

Another multifamily developer shifts focus away from Houston amid low oil prices

McGrath told the Houston Business Journal that his company plans to shift its new development focus to other markets during its Houston hiatus, which could last a year or longer, he said. McGrath maintained, however, that he remains upbeat about the future of Houston’s apartment market.
“There are always corrections in the market and energy prices,” McGrath said. “We think the market will recover from this.”

It will be interesting to see how many of those downtown residential buildings get completed by Superbowl. I am cautiously optimistic about downtown as the Med Center will be undergoing another boom and we will still add a few tens of thousand of jobs this year.

[AviationGuy]

My hope is that the downtown area will eventually be like Austin's, which is absolutely phenomenal. A decade ago, Austin's downtown was dead, and really an embarrassment. Today...well, if you've been to Austin's downtown, you know what it's like. I think Houston can do it as well.

[TexasPlaya]

Originally Posted by AviationGuy

My hope is that the downtown area will eventually be like Austin's, which is absolutely phenomenal. A decade ago, Austin's downtown was dead, and really an embarrassment. Today...well, if you've been to Austin's downtown, you know what it's like. I think Houston can do it as well.

I don't think Houston will be like Austin's DT for quite a bit of time and I think Austin's DT has been lively for sometime as 6th st has been around for longer than a decade (the action was just consolidated compared to now). Austin's DT today is easily the best in the South.

ATX DT has the following advantages: 1 freeway in close proximity, 1 of the largest public universities in close proximity, and great recreation close by (lady bird lake and trails).