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Houston19514

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Everything posted by Houston19514

  1. Houston19514
    It seems like the fire department was formerly in this building but is now in 500 Jefferson.
  2. Houston19514
    I must say, I don't really understand why they had to buy, let alone completely demolish, all three blocks. I wish their recent communication had at least attempted to explain that.
  3. Houston19514
    BP still has significant offices in Chicago (probably more than Shell has in New Orleans)
  4. Houston19514
    I don't know G-S's innermost thoughts and desires. I can only surmise that they want big floor plates based on the facts that they (1) are taking at least 800,000 square feet and (2) are having built for them a building that will be "somewhere in the neighborhood of 15-20 stories". Mathematics tells us that leads to a minimum floor plate of 40,000 square feet. I am further presuming that Hunt is proposing to build for Goldman Sachs a building that meets Goldmans Sachs's specifications. Interestingly, the typical floor size of G-S's Jersey City building is 38,500 square feet.
  5. Houston19514
    Yep. We might now be seeing why they are moving and why they wanted new-build rather than utililzing some of the widely-available space all over downtown and uptown Dallas -- They wanted bigger floor plates for what is largely going to be back-office space.
  6. Houston19514
    I provided the links several posts up. FWIW. the site plan will probably have to be tweaked to allow for an office building with something like 40,000 square foot (or more) floor plates. No, this late-breaking information was not on the site plan. I just became aware of this information late last night and watched the council meeting recording this morning to confirm it. http://dallasmetropolis.com/dfwu/download/file.php?id=3671&mode=view
  7. Houston19514
    New information: During the presentation to and questions and answers with the Dallas City Council on Thursday, the representative from the City's Office of Economic Development (the ones who negotiated the deal with Goldmans Sachs), referring to the Goldman Sachs building said that "this building is somewhere in the neighborhood of 15 to 20 stories."
  8. Houston19514
    So you started out telling us single-tenant office buildings are "exceedingly unusual", full stop, to "fairly rare in downtown areas". Just wanted to clarify. 😉 As I said above, I'm using the renderings, the site plans, knowledge of what the developer has said, knowledge of the central Dallas market and knowledge of office development in general, oh, and also very important, knowledge of the excitability of the DMN reporter, to say that the DMN reporter was wrong.
  9. Houston19514
    Like I said, and you seem to now kinda sorta acknowledge, single-tenant office buildings are not exceedingly rare. 😉 I base the conclusion it will not be an 80-story office building on a combination of what the developer has shared (which has zero indication of an office building anywhere near that size) and knowledge of the Dallas office market and office space/buildings in general. An 80-story office building would probably be at at or near 2.5 million square feet of office space or more; certainly above 2 Million. (A tenant like G-S is likely to want bigger floor plates - for example, their Jersey City building is only 42 stories tall and has 1.5 Million square feet.) With G-S taking 800,000 square feet, that's another 1.2 - 1.7 million square feet (possibly more) dropped on an already wildly oversupplied office market (downtown/uptown Dallas has more than 11.5 million square feet of office space available, and that doesn't even count Deep Ellum, which adds another 3/4 million). Not happening. (And see the links added to my prior response).
  10. Houston19514
    I think you are failing to notice how many single-tenant building leases are out there, in both suburban and urban situations. 😉Goldman Sachs West Street, Manhattan. Goldman Sachs Jersey City. Hess downtown Houston. Chevron downtown Houston (initially leased the entirety of 1400 Smith before buying it 5 years later). Having said that, I have no interest in chasing down a rabbit hole of whether or not G-S will be the sole tenant. It's little more than a hunch that this will be a single-tenant building; it is entirely possible it will have some room for others, thus also allowing for expansion room for Goldman Sachs. What it will not be is 80 stories of office space. http://dallasmetropolis.com/dfwu/download/file.php?id=3671&mode=view
  11. Houston19514
    Some times Steve Brown (the DMN Business reporter) gets so excited about tall-building proposals he loses track of the facts. Some of his reporting on this development has suggested there would be more than one building above 80 stories. There has never been any suggestion of that from the developers. The site plans released by the developer showed one building of 80'ish floors and it is a residential/hotel building. It also showed a shorter residential tower, a low-rise mass timber office building, and two office towers, neither of which approaches 80 stories. One of the office towers is said to be just over 1 Million square feet; the other just over 800,000 square feet, each with some ground-floor retail taking part of that square footage. I think you exaggerate the unusualness of single-tenant office buildings (State Farm, Liberty Mutual, ConocoPhillips, Marathon, Occidental in The Woodlands, Hess, come to mind; I'm sure there are plenty more). It's also noteworthy that on more than one occasion Goldman Sachs has been the sole tenant in new office buildings it leases. And it's certainly not unusual at all for companies to want to have a building or campus to themselves. The examples of that are practically endless. No. Even if the proposed 80-story building is built, it is not slated to even be the tallest in Dallas, let alone Houston (it's residential/hotel, not office, so shorter floors...)
  12. Houston19514
    FWIW, there is no indication (and it is highly unlikely) that the Goldman Sachs Tower will be anywhere near 80 stories. Hunt's marketing material for the entire development includes a pretty rendering of an 80+ story tower that would be hotel/residential, along with another residential tower and several office buildings. The Goldmans Sachs deal approved yesterday only involves one of the proposed office buildings. As mentioned, Goldman Sachs is to lease 800,000 square feet, so more likely something in the range of 40 stories, if that. There has been no timeline given for any of the other buildings in the development. The 80+ story hotel/residential tower seems pretty unlikely to happen any time soon. (And the timeline for the Goldman Sachs building only requires the shell and core of the building be completed by December 31, 2027.)
  13. Houston19514
    Here's some news on the Bridge Lighting -- A report was given at Houston First's Operations Committee meeting in April: "The bridges were a partnership project between TxDOT, Montrose Management District ("MMD") and Houston Galveston Area Council with a $3.5 Million budget. The lights were initially turned on just before Super Bowl LI in 2017. MMD was responsible for maintaining the bridges [sic], but was dissolved in 2018, resulting in the City of Houston transferring the responsibility of the lighting system on the bridges to Houston First in early 2019. Shortly before taking over the responsibility, deterioration of the lighting system was noticed. It will cost approximately $1.5 million to make the lights operable and $90,000 a year to operate and maintain. The president/CEO emphasized that this project is not within the mission of HFC but the increase costs will need to be considered when planning the budget." So, at least it's on someone's radar...
  14. Houston19514
    Icon Sam Houston
  15. Houston19514
    Of course.
  16. Houston19514
    it seems like setting up a connection to the railroad tracks would be a LOT easier, safer, more efficient and less costly.
  17. Houston19514
    It was on a page of examples of their work in "Rendering & Visualization", so not really so strange. That is also where the renderings came from that Urbanizer posted above, so they are very possibly not meaningful with regard to Memorial City North.
  18. Houston19514
    Of course the county bears part of the blame for initiating the stoppage of this project (as I allowed last Friday, at the very beginning of this discussion). But two things: (1) the county paused its lawsuit 7 months ago and I'm pretty sure has not reactivated the lawsuit, and more important (2) either Joe Biden or Secretary Pete could put an end to the stoppage today, if they wanted to. It is the Federal government that is stopping the work, not the county.
  19. Houston19514
    Good info. Last time I walked by there (maybe a month ago), the pole was still there...
  20. Houston19514
    Yes, and these are for veterans as well, at least in part. https://harrisrecovery.org/wp-content/uploads/2020/10/Press-Release-The-Rail-Lofts.pdf
  21. Houston19514
    Revenue, and perhaps as important, activity.
  22. Houston19514
    Seattle gets excused because of its 37 inches of annual rainfall, but no excuse for Houston, which averages almost 50 inches?
  23. Houston19514
    Congressmen are not appointed by, do not report to, and cannot be dismissed by the President. Joe Biden likes to take credit for infrastructure spending, but he’s allowing his appointees to block this project. He could get it back on track this morning with one phone call.
  24. Houston19514
    Very unlikely
  25. Houston19514
    The FHWA Is part of the the Department of Transportation , the Secretary of which was appointed by and serves at the pleasure of the president of the United States. He is ultimately responsible. The current plans have never been completely final, to be built without shot further change. But my bet all along has been that this go forward with very minor changes and TXDoT pressing to do things they were already planning/obligated to do.
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