HOUSTON | Development Thread II

[Hawk89]

Originally Posted by N90

The plan in 2007 was before DT's initiatives. Hotels and residentials are now able to get incentive money from the city, this was formed shortly after plans started surfacing in 2007.

The issue with the plans from 2007 was that it was right when the economy crashed too and the developer (Dan Nip) is a Chinese national, the plans simply stalled like they did everywhere else. Houston weathered the recession better than most places but at the end of the day, a recession is still a recession, especially when it comes to financing and lending.

Houston has spent 2013 announcing the projects that will start construction in 2014. Your timing was just a little off, as DT is just now seeing it's boom on the horizon. Before that, the boom was all over spread, it still is but DT is one of the biggest boomers on the horizon now. That's the difference I guess.

Thanks for the info. I visit Houston again in the summer, so hopefully I'll be able to see some major progress!

[toxteth o'grady]

I spent the weekend in town, and the development pace is ramping up. I got photos of a few sites, but missed many more. Cranes for Skyhouse II, Kirby Grove, Azalea Court, the Brazos Tower and the Hyatt Regency are all up or being erected.

Also a big shout-out to Catalina Coffee on Washington Street, which celebrated its 7th birthday over the weekend.

[Urbannizer]

The long-abandoned Hotel 31 off I-610 will be demolished very soon for a new mid-rise, there's a fence around the site.

[toxteth o'grady]

Actually, there appears to be some demolition going on at the moment at the back of the hotel.

Meanwhile, two more hotels are going up in another part of town.





Marriott and Hampton Inn headed for Energy Corridor

[TexasPlaya]

Originally Posted by Hawk89

Ok, I was wrong about the hotels being built because of the Super Bowl. I hope that you guys do get a mini buildings boom for the Super Bowl because your downtown has so much potential. But if these plans go back to 2007, why are they just about to start construction now? In Seattle, most of our projects that were halted during the recession started construction a year ago. Why is it taking so long for Houston? Sorry for asking so many questions, but I just got back from business trips to Houston and Dallas, and I was surprised at the lack of construction cranes in Houston's downtown, especially because I know how strong the Houston economy is.

Frankly, there's been a ton of construction but downtown lagged behind. If Houston's economy remains stable then we should be able to get 5000 units of residential constructed through the incentive program mentioned earlier from the TIRZ.

[Urbannizer]

Elan Med Center

[Urbannizer]

Originally Posted by toxteth o'grady

The crane went up today at Skyhouse II.

Another look from this morning, by BaderJF

[Urbannizer]

Originally Posted by Houston Chronicle

Memorial Hermann to begin expansion, renovation at TMC

Memorial Hermann Health System is launching a $650 million expansion and renovation project at its flagship Texas Medical Center hospital, president and CEO Dan Wolterman announced Wednesday.

Wolterman said construction highlights include more parking, updated infrastructure, such as loading docks, and a new patient care building, where much of the hospital's trauma units and specialty intensive care units will be located. The expansion will provide 160 more beds, 24 new operating rooms and 16 additional emergency room bays. Six floors and six operating rooms will be constructed in anticipation of growth, potentially adding 264 beds.

"We recognize that our community will continue to grow and so will their health needs, so we're designing the building with a forward-looking perspective to meet those needs," Wolterman said.

He said reduced reimbursements from government programs such as Medicare and Medcaid and outdated buildings and infrastructure are forcing the health system, Houston's largest, to take on the project, expected to begin this summer. The expansion is to be completed in 2018.

Full Article: http://www.houstonchronicle.com/busi...hp?cmpid=btfpm

[toxteth o'grady]

I count 16 floors on that new building. What I can't tell is if it's 1.34 million sf or whether another building is in the works.

[toxteth o'grady]

BisNow just e-mailed the following to its subscribers regarding the Woodlands:

"That's not all: retail—including the buzzed-about Whole Foods—and One Lake’s Edge, a 400-unit luxury multifamily tower are also under construction. Over in the Waterway Square District, Howard Hughes is breaking ground next week on the 303-room upscale hotel overlooking the Fountains at Waterway Square. (Rendered here.)"

That's this building:



I don't know which development is One Lake's Edge. Anyone have a pic?

[JoninATX]

One Lakes Edge



http://zieglercooper.com/one-lakes-edge/

[N90]

That is indeed the edge of one lake.

[N90]

Domain West:

http://www.connellrealty.com/sites/d...?itok=feUFVgpJ

Domain West - Houston, Texas

Domain West will consist of a 4 story wood framed garage wrap apartment building situated on an approximately 4.59 acre parcel off of the southwest corner of Memorial Drive and North Dairy Ashford in Houston, TX. The development will include 333 units with a mix of 1, 2 and 3 bedroom units.

The site is located just minutes away from an abundance of restaurants, shopping and recreational parks and trails. Also, three major grocery stores (Randall’s, HEB and Kroger) are located within a mile of the property.

Link: http://www.connellrealty.com/portfol...n-west-houston

[Urbannizer]

New Downtown Living Initiative Program Approved:

Originally Posted by Houston Chronicle

Council expands subsidy for downtown development

Houston will double the number of tax breaks it gives developers for apartments and condominiums they build downtown in a bid to lure residents and retailers to the city's long sleepy central business district.

The City Council on Wednesday unanimously agreed to expand the Downtown Living Initiative, first launched a year and a half ago, to offer tax breaks for 5,000 residential units, up from a previous cap of 2,500. The total cost of the tax breaks could reach $75 million.

Full Article: http://www.houstonchronicle.com/news...nt-5408456.php

[Clev]

Originally Posted by Urbannizer

New Downtown Living Initiative Program Approved:

Great news for Downtown Houston!

[Dariusb]

Houston is just taking off with all the growth/projects! It's a beautiful thing. I love that city!

[toxteth o'grady]

I think eventually they will have to expand the incentive program to 10,000, although the subsidy is no longer needed to attract apartments downtown. Let's see what kind of response is generated by the expanded subsidy cap.

Then a program needs to be set up to attract retail establishments.

[Urbannizer]

I got my hands on the new downtown development for April. It's not officially online yet. Here's a list of what is new:

New Projects:
#28 - Aloft Hotel: Stowers Building Conversion
#30 - Hilton Garden Inn: 12-floors, 230 hotel rooms.

Revised Projects:
#1 - 1111 Travis: 24-floors, 1Q 2016 Completion. Up from 23-floors
#20 - One Market Square: 41-floors, 1Q 2017 Completion. Formerly known as "International Tower"
#22 - Block 98: 39-floors, 314 units. Up from 38-floors, 299 units.
#27 - Camden Property Trust Residential: 21-floors, 580 units. Up from 12-floors, 518 units.

Removed Projects:
Hyatt Place: 11-stories, next to Hampton Inn/Homewood Suites. Cancelled?

[Clev]

Originally Posted by Urbannizer

I got my hands on the new downtown development for April. It's not officially online yet. Here's a list of what is new:

New Projects:
#28 - Aloft Hotel: Savoy Building Conversion
#30 - Hilton Garden Inn: 12-floors, 230 hotel rooms.

Revised Projects:
#1 - 1111 Travis: 24-floors, 1Q 2016 Completion. Up from 23-floors
#20 - One Market Square: 41-floors, 1Q 2017 Completion. Formerly known as "International Tower"
#22 - Block 98: 39-floors, 314 units. Up from 38-floors, 299 units.
#27 - Camden Property Trust Residential: 21-floors, 580 units. Up from 12-floors, 518 units.

Removed Projects:
Hyatt Place: 11-stories, next to Hampton Inn/Homewood Suites. Cancelled?

I really like that the Camden project increased to 21 floors. That should be great for the area.

[DBGHouston]

* note: Aloft Hotel is going into the 1913 Stowers Building, not the Savoy (which will become a Holiday Inn)