HOUSTON | Development Thread II

[Urbannizer]

Originally Posted by Reuters

In Bustling Houston, it's a case of "Build, baby, Build!"


With Texas one of the few bright spots in the U.S. economy, the skyline of swaggering Houston is where the action is as builders and global oil companies, from Phillips 66 to Exxon Mobil Corp, look past previous busts and spend billions on gleaming new buildings.

The U.S. shale oil and gas revolution - which has already changed industries from railroads to pipelines and refineries - is helping drive the voracious appetite for office space needed for the expanding workforce in the world's energy capital.

Demand is so hot that Houston is one of the few places where banks - including Wells Fargo & Co, which is seen as one of the more conservative big banks - will loan money for a new building without demanding developers first have a tenant.

"Houston is booming and bar none the strongest market in the United States of America," said Joseph Sitt, chief executive of Thor Equities, which has two projects underway in Houston.

There are some 56 office buildings totaling at least 11 million square feet under construction in and around Houston, according to real estate services firm CBRE Group Inc. That is equivalent to 190 football fields.

http://www.reuters.com/article/2013/...0GO1PE20130825

[TowerSpotter]

Nice things are coming, we just don't know about them yet.

[toxteth o'grady]

Well, I now have a new phrase to add to my lexicon - "horizontal construction". Admittedly not the same as going vertical, but it seems to be a precursor.

Developer talks Museum District's upcoming artsy high-rise

"...Featuring an artsy, helix design, the luxury 42-story tower is planned for the Museum District, just northwest of the 35-story Parklane on Hermann Drive. Houston-based Tema expects to begin horizontal construction in October..."

[toxteth o'grady]

That Reuters article is nice (and getting a list of those 56 office buildings would be cool). They fret over the price of a barrel of oil, but that hasn't reflected supply and demand for years. And now there's sabre-rattling going on over Syria.

[johnme]

Photos from the past week all by me.
Woodbranch Development

Energy Tower IV




Energy Center III


Samsung Tower

[TowerSpotter]

^^^^^ Great Shots

Also here is more on the International Tower

[toxteth o'grady]

Originally Posted by johnme

Photos from the past week all by me.

I was unaware that Samsung was a lead tenant in a building going up out west. I assume Energy Center IV will be following Energy Center III shortly.

[toxteth o'grady]

This was posted earlier and has now appeared in the Chronicle. Another major engineering firm lease drives another new building.

Jacobs Engineering to lease new Energy Corridor building

[Urbannizer]

First post for this thread has been updated again.

[Urbannizer]

Waterwall Place, photos by jgriff





Broadstone Midtown - From the FB page


3100 Post Oak

[TowerSpotter]

Great Updates Urbannizer.

[Urbannizer]

Originally Posted by TowerSpotter

Great Updates Urbannizer.

Thanks, I really try to keeep up with everything and look around for construction photos.

[Urbannizer]

Originally Posted by Houston Business Journal

Exclusive: Developer moves forward with CBD's next luxe high-rise

Dallas-based Provident Realty Advisors Inc. closed on the historic Texaco building Thursday with plans to redevelop it into downtown’s next luxury high-rise.

As soon as the developer can get the permit approved, initial construction will begin and will eventually add 34,000 to 41,000 square feet to the structure at 1111 Rusk. Estimated time to obtain the permit is about two to four weeks, the developer said.

The building will cost about $95 million to redevelop, said Kip Platt, developer and partner with Provident.

First units are expected within 13 to 14 months and completion is set for 20 to 24 months after construction.

The high-rise gained an incentive through the Downtown Living Initiative program and will be connected to the tunnel system. In addition, the building’s historic façade will be repaired using funds from the TIRZ No. 3.

The project's unit count is 309 with an average unit size of about 1,065 square feet. The plan also includes about 8,000 square feet of ground floor retail and a 550-car garage.

Full Article: http://www.bizjournals.com/houston/b...s-forward.html

[toxteth o'grady]

Apparently, they're only moving ahead with the shorter Phase I. Phase II, which had been contemplated at possibly 38 stories overall, appears to be only 29 stories, according to the update inthe HBJ. They're about 3 months into design for Phase II.

[photoLith]

What the heck are those two renders for? The Texaco building redevelopment? I hope not, I hope they build that tall residential in that pit behind the buildings, instead of that short thing. And Im super glad to see that something may be done with those beautiful buildings, theyve been in limbo for so long. Kinda retarded that they didnt use a Houston background though for the render, lol

[TowerSpotter]

Originally Posted by photoLith

What the heck are those two renders for? The Texaco building redevelopment? I hope not, I hope they build that tall residential in that pit behind the buildings, instead of that short thing. And Im super glad to see that something may be done with those beautiful buildings, theyve been in limbo for so long. Kinda retarded that they didnt use a Houston background though for the render, lol

It is a 2 phase project, that I belive is the pedestal for the tall tower.

[Urbannizer]

Construction updates:

The Sovereign - 9th floor.



502 S. Post Oak




Hanover West University


https://www.facebook.com/MathisGroup

7 Seventy


https://www.facebook.com/pages/7-Sev...28938050618509

[Urbannizer]

Skyhouse


Photo by Jax

Good Neighbor Healthcare Center

Photo by DrLan34

[Urbannizer]

New UH Football Stadium - Update thanks to the webcam

[Urbannizer]

Construction updates by Montrose1100

Hackett Tower


Cranes for the new SWN Energy HQ