Houston19514 Posted November 18, 2014 Share Posted November 18, 2014 (edited) Well, I have some good news and some not as good news... The not so good news: there is no target start time on the schedule. As previously mentioned, the hold up is through Chevron as Skanska is more than ready to get this project going. The good news: The project has been increased to 52 stories. Those 52 stories are ON TOP of the 6 story podium so 58 stories in total. My connection said that they were told it would be the third tallest building in town but couldn't remember if it was downtown or Houston in general. Sorry to not have more info on this but things are definitely in motion. Just not as far along as most probably want! Thanks Brijon. Great update! Maybe it will end up being the third tallest building in Texas! Edited November 18, 2014 by Houston19514 1 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted November 18, 2014 Share Posted November 18, 2014 (edited) Thanks Brijon. Great update! Maybe it will end up being the third tallest building in Texas!It might be the *6th... Edited November 18, 2014 by Montrose1100 Quote Link to comment Share on other sites More sharing options...
H-TownChris Posted November 20, 2014 Share Posted November 20, 2014 The one that I think has a chance at being 3rd in the city and maybe state, is 7200 Main. Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted November 20, 2014 Share Posted November 20, 2014 The one that I think has a chance at being 3rd in the city and maybe state, is 7200 Main.Doubtful, that building looked around 800' (plus there are no swirling rumors that it's anything more than a fantasy at this point), and to beat Dallas' tallest it would have to be 921'. 1 Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted November 21, 2014 Share Posted November 21, 2014 Well, that's Number 3 in the state. There are rumors of something taller in Dallas in the coming years, but no big announcement yet. Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 I hope this development is not dead. It seems it will be on hold for years. Oil just hit $47 a barrel not good. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted January 14, 2015 Share Posted January 14, 2015 In Lando Calrisian voice: "II think it's alive.....and in perfect hibernation." 1 Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 With a market value of 227 billion they keep delaying this project. Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 They may layoff the employees they hired. After the fact they received tax incentives from the state and COH. Quote Link to comment Share on other sites More sharing options...
Avossos Posted January 14, 2015 Share Posted January 14, 2015 Last I heard it's not dead, it's just "on hold" Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 I friend of mine that works for Chevron had to move here last year. He was looking to buy a high rise, but know is freaking out. He has 8 months to retire and said the Chevron Tower is just a dream. 800 Bell might have something to do with it. He will rent at 2929 Weslayan and then return to San Francisco, but loves Houston. Quote Link to comment Share on other sites More sharing options...
swtsig Posted January 14, 2015 Share Posted January 14, 2015 I friend of mine that works for Chevron had to move here last year. He was looking to buy a high rise, but know is freaking out. He has 8 months to retire and said the Chevron Tower is just a dream. 800 Bell might have something to do with it. He will rent at 2929 Weslayan and then return to San Francisco, but loves Houston. 800 bell isn't going to move along any furher - they're committed to installing the new curtain wall but will essentially shelve it afterwards. could it be an option for Chevron in lieu of the new tower? it's possible but definitely isnt probable. look... oil will rebound eventually. chevron isn't going anywhere. they own the land. at some point they WILL build there. stop freaking out over this stuff. 5 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted January 14, 2015 Share Posted January 14, 2015 800 bell isn't going to move along any furher - they're committed to installing the new curtain wall but will essentially shelve it afterwards. could it be an option for Chevron in lieu of the new tower? it's possible but definitely isnt probable. look... oil will rebound eventually. chevron isn't going anywhere. they own the land. at some point they WILL build there. stop freaking out over this stuff. Doesn't the 800 Bell project involve a lot more than just hanging a new curtain wall on the building? Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 Cool swtsig, he is one freaking out. I believe his 401K took a beating and afraid of getting laid off. It kinds of remind me of 5 Allen Center, nothing. Quote Link to comment Share on other sites More sharing options...
Purdueenginerd Posted January 14, 2015 Share Posted January 14, 2015 Tell him if his 401k took a beating in 2014, he needs to re-evaluate where his shares are at and diversify (or stop investing in the Russian Stock Market). Oil is too volatile to hedge your retirement assets against it. /off topic 4 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted January 14, 2015 Share Posted January 14, 2015 800 bell isn't going to move along any furher - they're committed to installing the new curtain wall but will essentially shelve it afterwards. could it be an option for Chevron in lieu of the new tower? it's possible but definitely isnt probable. look... oil will rebound eventually. chevron isn't going anywhere. they own the land. at some point they WILL build there. stop freaking out over this stuff.By shelving it do you mean selling the building or scrapping the sunken lobby/interior design? Quote Link to comment Share on other sites More sharing options...
swtsig Posted January 14, 2015 Share Posted January 14, 2015 By shelving it do you mean selling the building or scrapping the sunken lobby/interior design? my understanding is neither - just putting the whole thing on hold. they won't commit to any large capital expenditures outside of the ones they are already committed to until the market rebounds. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted January 14, 2015 Share Posted January 14, 2015 So what would they do with the tower? Let it sit empty until they're ready to redevelop? Quote Link to comment Share on other sites More sharing options...
nativehoustonion Posted January 14, 2015 Share Posted January 14, 2015 http://zieglercooper.com/800-bell/ Looks nice, but I will get back to the subject. Quote Link to comment Share on other sites More sharing options...
Subdude Posted January 14, 2015 Share Posted January 14, 2015 800 bell isn't going to move along any furher - they're committed to installing the new curtain wall but will essentially shelve it afterwards. could it be an option for Chevron in lieu of the new tower? it's possible but definitely isnt probable. look... oil will rebound eventually. chevron isn't going anywhere. they own the land. at some point they WILL build there. stop freaking out over this stuff. Thank you for this. Oil crashed even more after it peaked in 2008, and eventually bounced back. It's a commodity business and a degree of volatility is to be expected. The world seems awfully quick to assume that the reduction in prices will somehow be permanent. 5 Quote Link to comment Share on other sites More sharing options...
fernz Posted January 14, 2015 Share Posted January 14, 2015 I agree, I seem to remember people saying a few years ago that oil would never go back under $100 again. Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 14, 2015 Share Posted January 14, 2015 (edited) For once this actually makes sense especially sense we are talking about Oil companies themselves! The market will go up and down. Right now Saudi Arabia is trying to play a game of chicken with every oil producer in the world and they will win, but they are imploding OPEC while they are doing so. This will be the last time they have this kind of power, and I think they know that. North American Shale, Russian Oil, and African Oil is the future of the industry and they are going drive the price into the ground hurting everyone as much as possible to postpone the inevitable. Edited January 14, 2015 by Luminare 2 Quote Link to comment Share on other sites More sharing options...
Sparrow Posted January 14, 2015 Share Posted January 14, 2015 For once this actually makes sense especially sense we are talking about Oil companies themselves! The market will go up and do. Right now Saudi Arabia is trying to play a game of chicken with every oil producer in the world and they will win, but they are imploding OPEC while they are doing so. This will be the last time they have this kind of power, and I think they know that. North American Shale, Russian Oil, and African Oil is the future of the industry and they are going drive the price into the ground hurting everyone as much as possible to postpone the inevitable. Buy low, sell high. Perhaps we will see a great deal of consolidation in the industry. The little guy who can't make it will be bought out by the big guys who can play the long game. Breaking even for now gets rid of all the small fries trying to play the big boy's game. Also, a short duration plunge in the price of oil is beneficial long term for the industry's outlook as consumers' knee jerk return to consumption boom times will ensure much higher demand than otherwise would be had once prices return to normal. Joe Plumber is going to go out and buy a big ol' SUV and a McMansion out in the 'burbs seeing $2 gas at the pump and think all is well and dandy. Well, by the time gas jumps back to $3.50 in a year, or two, or maybe even three, Joe is stuck with a gas guzzling SUV with a 40 mile one-way commute to work and big oil will once again be posting hefty profits. 4 Quote Link to comment Share on other sites More sharing options...
Luminare Posted January 14, 2015 Share Posted January 14, 2015 (edited) Buy low, sell high. Perhaps we will see a great deal of consolidation in the industry. The little guy who can't make it will be bought out by the big guys who can play the long game. Breaking even for now gets rid of all the small fries trying to play the big boy's game. Also, a short duration plunge in the price of oil is beneficial long term for the industry's outlook as consumers' knee jerk return to consumption boom times will ensure much higher demand than otherwise would be had once prices return to normal. Joe Plumber is going to go out and buy a big ol' SUV and a McMansion out in the 'burbs seeing $2 gas at the pump and think all is well and dandy. Well, by the time gas jumps back to $3.50 in a year, or two, or maybe even three, Joe is stuck with a gas guzzling SUV with a 40 mile one-way commute to work and big oil will once again be posting hefty profits. That's probably the most depressing optimistic/pessimistic future ever, but I agree with your main point lol Edited January 14, 2015 by Luminare 3 Quote Link to comment Share on other sites More sharing options...
wxman Posted January 15, 2015 Share Posted January 15, 2015 This is supposively going to be a 58-story building. That'll take every bit of 2 years to complete...if not longer. So why not start construction when costs are going down in the anticipation that prices will stabalize in the 80 to 100 dollars a barrel relm by then? Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted January 15, 2015 Share Posted January 15, 2015 With all the recent reports of other oil companies going through layoffs and hiring freezes, I'm sure the employees of Chevron would much rather stay at their outdated towers and keep their jobs than have Chevron divide money to this.That's not a good answer to a good question though. I tried. 1 Quote Link to comment Share on other sites More sharing options...
Avossos Posted January 15, 2015 Share Posted January 15, 2015 (edited) This is supposively going to be a 58-story building. That'll take every bit of 2 years to complete...if not longer. So why not start construction when costs are going down in the anticipation that prices will stabalize in the 80 to 100 dollars a barrel relm by then? Too many uncertains, budget concerns, and unlikely they want to tie up their liquid capital during this time because it might have better use somewhere else. Also, there are no guarantees that oil will be back up in that 2 year timeframe, so safer planning serves big companies well. That said, I wouldnt complain if they did go ahead and start Edited January 15, 2015 by Avossos Quote Link to comment Share on other sites More sharing options...
monarch Posted January 15, 2015 Share Posted January 15, 2015 this is a good day. indeed! Quote Link to comment Share on other sites More sharing options...
fernz Posted January 15, 2015 Share Posted January 15, 2015 ?? Sometimes I just don't understand what Winston is talking about... Quote Link to comment Share on other sites More sharing options...
monarch Posted January 15, 2015 Share Posted January 15, 2015 ?? Sometimes I just don't understand what Winston is talking about...aaaaahh, but sure you do... Quote Link to comment Share on other sites More sharing options...
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