HOUSTON | Development Thread II

[JManc]

Again, it's a hum drum medical professional building where the primary focus is on patients getting in and out with ease. That's a huge problem at the TMC, no where to park and when you do find a spot, you have to pay. Plus most other professional buildings have a shit load of surface lots.

[TexasPlaya]

I don't mind calling the medical office ugly but to use it to make a generalization about Houston at large, followed by laughable expectations of medical offices (look at these two medical offices in LA!), and then top it off with playing the victim is my issue.

[TexasPlaya]

Originally Posted by kingkirbythe....

Bilbao58 smacking down!

More like falling down.

[bilbao58]

Originally Posted by TexasPlaya

I don't mind calling the medical office ugly but to use it to make a generalization about Houston at large, followed by laughable expectations of medical offices (look at these two medical offices in LA!), and then top it off with playing the victim is my issue.

There is a difference between expectations and desires. And I thought you were finished with this. Don't bother answering, by the way. I am finished with it.

[Double L]

Originally Posted by bilbao58

There is a difference between expectations and desires. And I thought you were finished with this. Don't bother answering, by the way. I am finished with it.

He’s finished this time…no really, he’s finished this time…no, really, he’s finished this time.

[JManc]

No, keep it going. This is the busiest I've seen the Houston thread in a long time.

[Wattleigh]

Levit Green - Phase I
c/o Highrise Tower on HAIF









Updated siteplan rendering c/o Mallory Kelly on Linkedin

[Wattleigh]

Perennial / 2120 Post Oak Blvd.

From HAIF member swtsig...

Saw this post on LinkedIn... looks like it has serious height. Whether or not this is real is tbd - I've never heard of this developer, they have no history that I can find, and their website doesn't actually exist.

EDIT: apparently this one has legs so let's hope it moves forward.

The Linkedin post

𝐍𝐨𝐫𝐭𝐡𝐰𝐢𝐧𝐝 𝐆𝐫𝐨𝐮𝐩 recently provided a $26,100,000 First Mortgage Bridge Loan in a prime location of Houston, Texas.

DeisoMoss will be developing a remarkable mixed-use project in the Uptown / Galleria submarket of Houston. Andrew Deiso Taylor Moss

Thank you to Surya Capital Partners for arranging the financing. Adi Chugh Richard Levin Christian Hung

Please contact our team to discuss relevant opportunities: loans@northwind-group.com.

Ran Eliasaf Gabriel Hamani Tal Michaelson Michael Ainbinder Nicholas Cho Robert Goldstein Rachel Korn Will Ressler Adam Hamama Nick Leone

#realestate #lending #loans #northwindgroup #houstonrealestate #houstonrealestate #newyorkrealestate

Property Address: 2120 Post Oak Boulevard, Houston, Texas 77056

Renderings from embedded video...

[Yackemflaber69]

It looks like it's 150m+, nice project for the area.

[TexasPlaya]

TMC: Centennial Tower



The tower on the right, going to be massive. Per Hightower at HAIF

...While Bourgeois still helping the campus fend off COVID-19, his focus starting in 2022 is construction of the new Centennial Tower. According to plans, the 30-story building—with a rooftop helipad—will include about 1 million square feet and cost more than $920 million. The facility will include operating rooms, two floors of intensive care units, imaging rooms, a pharmacy and several floors of universal and general care...

[Wattleigh]

2120 Post Oak Blvd



A snippet from Commercial Observer's piece on the loan...

Northwind Group originated the first mortgage bridge loan — through one of its discretionary debt funds — on DeisoMoss’ 551,905 square-foot development, which comprises 355 multifamily units, 100,000 square feet of Class A office space and high-end retail. Surya Capital Partners’ Adi Chugh, Rich Levin and Christian Hung arranged the transaction.

“The pre-development loan with Northwind is instrumental in bringing us through to a foundation excavation to get to the floor-up construction loan,” Andrew Deiso, founder of DeisoMoss, told CO. “It’s probably the most coveted piece of undeveloped dirt in Houston.”

DeisoMoss purchased the property at 2120 Post Oak Boulevard from the Tisch family last November for an undisclosed price. Deiso said an early 2023 groundbreaking is planned, and the firm has already attracted interest from “nationally recognized white-tablecloth” restaurant chains for the retail space.

Taylor Moss, who founded DeisoMoss in 2018, said the mixed-use project aims to bring a “work, play, live” tower development to Houston, a prevalent property type in other major cities.

“You see these mixed-use towers in other primary markets like New York, Chicago, Miami, Los Angeles, but it’s kind of a novel concept for Houston,” Moss said. ”We’re taking the model of these other primary markets and other very successful developers that have come before us and taking a page out of their playbook and trying to introduce these luxury high-end, what we call “Class double-A” [assets] to the Houston market.”

[JManc]

Nice. That spot has been vacant since they imploded the old Compass bank building. Good to see it filled by a huge development like that.

[Wattleigh]

3615 Montrose



Apparently it will be '512 at this point, per the FAA's database.

https://oeaaa.faa.gov/oeaaa/external...3395053&row=15

https://oeaaa.faa.gov/oeaaa/external...3396056&row=16

https://oeaaa.faa.gov/oeaaa/external...3396409&row=17

https://oeaaa.faa.gov/oeaaa/external...3396900&row=18

The Lexington River Oaks

New project from Pelican Builders that showed up on the developer's instagram yesterday.



No word on where specifically this one will land just yet.

[TexasPlaya]

Uptown Oaks

From Highrise Tower on HAIF

[The Best Forumer]

Looks decent. More infill for that part of town. Good news.

[Wattleigh]

Out: Ashby Highrise

In: The Langley



houstonchronicle.com/business/real-estate/article/Exclusive-Six-years-after-Ashby-high-rise-17139055.php

Exclusive: 6 years after Ashby high-rise controversy, a new luxury apartment tower planned for site

Marissa Luck,
Staff Writer
May 2, 2022
Updated: May 3, 2022 8:31 a.m.

Since a judge sided with developers of the so-called Ashby high-rise in 2016, the grassy lot at the center of one of the most closely watched land-use battles in Houston’s history has sat untouched, surrounded by chain-link fencing.

Now, the owners of the property are resurrecting efforts to build a high-rise residential tower at the corner of Bissonnet and Ashby Street near Rice University. They have brought in a new development team and a scaled-down version of the original plans they hope will win over neighbors who fiercely opposed the earlier iteration.

Hunt Companies of El Paso is partnering with Dallas-based StreetLights Residential to build a 20-story luxury apartment community called The Langley. They plan to break ground in November and complete construction by 2025. The tower is one story lower with 94 fewer units than a 2016 version of the project. The new proposal also features a smaller parking garage at three levels instead of five.

Fewer units mean fewer residents, which the developers hope will ease concerns over traffic on the two-lane streets surrounding the site — a key point of contention for the prior proposal.

Website is up now: https://thelangleyhouston.com/

[bilbao58]

Originally Posted by Wattleigh

"The tower is one story lower with 94 fewer units than a 2016 version of the project. The new proposal also features a smaller parking garage at three levels instead of five.

Fewer units mean fewer residents, which the developers hope will ease concerns over traffic on the two-lane streets surrounding the site — a key point of contention for the prior proposal."

Shaking my head that the developers think lopping off one floor and a couple of parking levels is going to make the people in the area who were against it suddenly be all for it.

I'm also sooo freaking tired of Chronicle reporters who've been in Houston for all of three weeks (practically) writing nonsense like "6 years after Ashby high-rise controversy, a new luxury apartment tower planned for site" when this controversy has been going on for 15 years. Seems to me that a job at the Chronicle is now no more than a rung on the career ladder for Hearst employees hoping to make it to the Manhattan headquarters some day.

I actually saw one recent transplant from San Francisco write that El Real was in a former Tower Records building.

[JManc]

He's back!

[bilbao58]

Maybe the neighbors won't mind so much now that the new design has removed the big arms and scary face. (Not my joke.)

[Wattleigh]

Originally Posted by bilbao58

Shaking my head that the developers think lopping off one floor and a couple of parking levels is going to make the people in the area who were against it suddenly be all for it.

I'm also sooo freaking tired of Chronicle reporters who've been in Houston for all of three weeks (practically) writing nonsense like "6 years after Ashby high-rise controversy, a new luxury apartment tower planned for site" when this controversy has been going on for 15 years. Seems to me that a job at the Chronicle is now no more than a rung on the career ladder for Hearst employees hoping to make it to the Manhattan headquarters some day.

I actually saw one recent transplant from San Francisco write that El Real was in a former Tower Records building.

I don't think the problem is exclusive to the Chronicle, though the errors seem more egregious as it's the only daily still around.

One of my "favorites" from the recent past was the description of a new TSTC campus in Rosenberg that was being built that had a broad overview of construction and the timeline - but the location description was at an intersection that didn't exist anywhere in town.