wharton transplant Posted January 23, 2006 Share Posted January 23, 2006 Okay, no one say anything bad about this. I NEED this to happen. A tear wells up in my eye every time I have to look at this building and that old Central Bank Building. Quote Link to comment Share on other sites More sharing options...
goodfella Posted February 4, 2006 Share Posted February 4, 2006 Hey wharton, here's a tissue, bud. I hate to see anyone cry, honestly, but this building is a pipe dream, at least for condos. I can't see anyone spending the kind of money they were talking about charging for the level of finish they were going to provide in a building that has 8' ceilings deck-to-deck.It's a very typical mentality of out-of-state developers - everyone thinks they are going to come to Houston and beat the market. Quote Link to comment Share on other sites More sharing options...
Watch4Snakes Posted February 13, 2006 Share Posted February 13, 2006 Then they need to tear the building that's there down already. I don't think I can live with the eyesore much longer! Quote Link to comment Share on other sites More sharing options...
zaphod Posted February 16, 2006 Share Posted February 16, 2006 I bet if this deal falls thru they'll blow it up and build a CVS or something...i hate that building. It looks like one of those towers in sarajevo. Even when it was new i bet it was hideos. Same goes for University Tower in college station, but at least its occupied Quote Link to comment Share on other sites More sharing options...
houston-development Posted February 16, 2006 Share Posted February 16, 2006 Then they need to tear the building that's there down already. I don't think I can live with the eyesore much longer! they cant tear the existing structure down, paid too much for the site. hypothetically speaking and using imaginary, rounded numbers... say they paid 10m for 200,000 sq ft of structure and its sitting on 50,000 sq ft of land. to renovate, they are in at $50 psf. if they tear it down just for the dirt, they are in at $200 psf (excluding demo costs). if the numbers barely worked on a rehab, see how it wouldnt at all on a demo? make sense? Quote Link to comment Share on other sites More sharing options...
sevfiv Posted February 16, 2006 Share Posted February 16, 2006 so it is a crapshoot... speaking of crap, there is so much of it inside! it's one hell of a fixer-upper... Quote Link to comment Share on other sites More sharing options...
zaphod Posted February 16, 2006 Share Posted February 16, 2006 they cant tear the existing structure down, paid too much for the site. hypothetically speaking and using imaginary, rounded numbers...say they paid 10m for 200,000 sq ft of structure and its sitting on 50,000 sq ft of land. to renovate, they are in at $50 psf. if they tear it down just for the dirt, they are in at $200 psf (excluding demo costs). if the numbers barely worked on a rehab, see how it wouldnt at all on a demo?that sucks. Quote Link to comment Share on other sites More sharing options...
LTAWACS Posted February 22, 2006 Share Posted February 22, 2006 See? I told you so. Quote Link to comment Share on other sites More sharing options...
Sunstar Posted February 22, 2006 Share Posted February 22, 2006 I just noticed today there appears to be some digging happening on the lot right next to the Days Inn, between Louisiana and Travis. I spotted some backhoes and bulldozers tearing up the pavement and piling up dirt. Anyone know what this is? Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 22, 2006 Share Posted February 22, 2006 I'd tried to ask construction workers this morning what was up but they didn't have much to say. It would be nice if it were to become a park (I mean, for people, not cars). Alas, I suspect that they're probably improving the drainage beneath and then repaving the lot. You'd think one of the real estate reporters in town would've had a hot scoop if something more tasty was going on there. Quote Link to comment Share on other sites More sharing options...
LTAWACS Posted February 24, 2006 Share Posted February 24, 2006 Nothing is going to happen. Trust me. Quote Link to comment Share on other sites More sharing options...
h-townsfinest Posted March 22, 2006 Share Posted March 22, 2006 ok LTAWACS could you please shut up, nothing is more annoying than someone saying that crap over and over, if u aint got nothing imporatant with some sort of interest of whats going on, then shut up, ok now that thats been said, whats up with this project, i mean ive been waiting for someone to even concider this building from the very beginning, its a piece of crap, but land values are flying off the wall in houston, they just keep goin up and up, sooner or later somethings gonna happen to this building, trust me, its inevitable Quote Link to comment Share on other sites More sharing options...
danes75 Posted March 28, 2006 Share Posted March 28, 2006 I found an article (a while ago) that said they weren't going to start on this project until sometime next year. Quote Link to comment Share on other sites More sharing options...
lwood Posted March 28, 2006 Share Posted March 28, 2006 Come on it's already there. It's a fixer upper. It's just a matter of time.Some months ago the Houston Business Journal stated that this building was purchased by Landco, a Colorado company.I hope the project goes through. Most opinions here seem to be unfavorable but I would definitely consider living there. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted March 28, 2006 Share Posted March 28, 2006 wulfe still has it listed as the metroplex with all the same ol information http://www.wulfe.com/Realister/View_Property.asp?ID=626 so what is everyone waiting for? Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted March 28, 2006 Share Posted March 28, 2006 (edited) Why the metroplex? Someone will fix this building up or tear it down and build something else. It will probably happen sooner than most think! Edited March 28, 2006 by T 2 THA C Quote Link to comment Share on other sites More sharing options...
Jeebus Posted March 28, 2006 Share Posted March 28, 2006 WHY THE METROPLEX? SOMEONE WILL FIX THIS BUILDING UP OR TEAR IT DOWN AND BUILD SOMETHING ELSE. IT WILL PROBABLY HAPPEN SOONER THAN MOST THINK!Stop yelling. Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted March 28, 2006 Share Posted March 28, 2006 (edited) Stop yelling.Did not mean to hurt ne feelings, I guess some people have more time than I do to make sure everything is perfect. Edited March 28, 2006 by T 2 THA C Quote Link to comment Share on other sites More sharing options...
TxDave Posted April 17, 2006 Share Posted April 17, 2006 Any updates on this one?It is really a shame that this building remains such a blight Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted April 17, 2006 Share Posted April 17, 2006 I pass by this building everyday and I have noticed there are more windows missing then there have been. I wonder if this is the start of something or just bums/ people getting up there and breaking them out/ removing them. Quote Link to comment Share on other sites More sharing options...
VicMan Posted April 18, 2006 Share Posted April 18, 2006 I would love to see this developed too!Has the project been confirmed yet? I can't tell from the posts already posted. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 16, 2006 Share Posted May 16, 2006 The former Holiday/Days Inn building was advertised for sale in this week's Houston Business Journal, by the Mahrishi Peace Foundation or whatnot. That seems to indicate the project got axed. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted May 16, 2006 Share Posted May 16, 2006 drove by there sunday, and looking at the north side of the building (from the south) it appears that there is activity inside - either vagrants removed alot of curtains, or they are trying to clean up a little... Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted May 16, 2006 Share Posted May 16, 2006 I pass by this building everyday and I have noticed there are more windows missing then there have been. I wonder if this is the start of something or just bums/ people getting up there and breaking them out/ removing them.If they're aluminum, that's a distinct possibility. Metal prices have really soared recently, and that MD 20/20 doesn't buy itself. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 16, 2006 Share Posted May 16, 2006 (edited) The former Holiday/Days Inn building was advertised for sale in this week's Houston Business Journal, by the Mahrishi Peace Foundation or whatnot. That seems to indicate the project got axed.Hmmm... That seems odd. Why can't I find the listing?It's especially odd given that, according to HCAD records, the "Peace Foundation" does not own the building. It is owned by Landco (Raider). Edited May 16, 2006 by Houston19514 Quote Link to comment Share on other sites More sharing options...
lwood Posted May 16, 2006 Share Posted May 16, 2006 Hmmm... That seems odd. Why can't I find the listing?It's especially odd given that, according to HCAD records, the "Peace Foundation" does not own the building. It is owned by Landco (Raider).Wow. This week's HBJ, page 6B. "600 room hotel for sale for $10 million. Great location, stunning skyline views, one block from light rail and the best of downtown and midtown all add up to a unique development opportunity" Maharishi World Peace Fund .I guess Landco is out. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted May 16, 2006 Share Posted May 16, 2006 Wow. This week's HBJ, page 6B. "600 room hotel for sale for $10 million. Great location, stunning skyline views, one block from light rail and the best of downtown and midtown all add up to a unique development opportunity" Maharishi World Peace Fund .I guess Landco is out. TEN million? i guess they forgot to mention how they sat on it and let it rot from the inside out for over ten years Quote Link to comment Share on other sites More sharing options...
cabanaboy Posted May 16, 2006 Share Posted May 16, 2006 Further proof that Ed is the nations premier metropolitan developer. Quote Link to comment Share on other sites More sharing options...
Subdude Posted May 16, 2006 Share Posted May 16, 2006 TEN million? i guess they forgot to mention how they sat on it and let it rot from the inside out for over ten years What they are selling is effectively just the steel frame and flooring. Especially given today's prices, any investor would save a bundle with the frame and basic structure already in place, compared to building from scratch. At least this is what someone at the site told me once. In any renovation the interior would be gutted anyway, so they probably don't see any harm in letting it go to pot. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted May 16, 2006 Share Posted May 16, 2006 What they are selling is effectively just the steel frame and flooring. Especially given today's prices, any investor would save a bundle with the frame and basic structure already in place, compared to building from scratch. At least this is what someone at the site told me once. In any renovation the interior would be gutted anyway, so they probably don't see any harm in letting it go to pot.They want more than 5 mil for the Central Square building according to my sources (and the owner is being an ass about it)...unfortunately, once you've got chunks of concrete falling to the pavement below, that "frame and basic structure" must be substantially renovated. The numbers go downhill from there. The Days Inn site is in the exact same state (although it appears somewhat less militarized).If the LandCo deal didn't go through AFTER they'd already gone public on it, you can be pretty sure that it wasn't so much a matter of a buyer/seller disagreement as much as it probably was something really really bad that came up during the due diligence process...such as a good honest structural engineer. Quote Link to comment Share on other sites More sharing options...
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