toxtethogrady Posted August 24, 2014 Share Posted August 24, 2014 Houston is way too big and has way too much empty space in the core to be getting this expensive. My biggest gripe is the loss of character in the near downtown neighborhoods. Wish there was someway to balance progress and historyIt seems it would also be too expensive to be running out of developable lots. But that seems to be the chief lament of the developers from Downtown to Conroe. Not only that, but land and materials are getting expensive, and labor is in short supply. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted August 25, 2014 Share Posted August 25, 2014 according to the folks who document these things, houston will have constructed 18,000 new units this year. if there are 10,000 more i'm sure the CRBE would like to know. There is a difference between units expected to be delivered this year and units under construction/development. 1 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted August 25, 2014 Share Posted August 25, 2014 (edited) Edit: Nevermind Edited August 25, 2014 by Montrose1100 Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted August 26, 2014 Share Posted August 26, 2014 HBJ is reporting from other sources that Houston is on a pace to build 30,000 homes this year - a record. Add that to the 18,000 apartments and it's still not enough. Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted August 26, 2014 Share Posted August 26, 2014 It seems it would also be too expensive to be running out of developable lots. But that seems to be the chief lament of the developers from Downtown to Conroe.Not only that, but land and materials are getting expensive, and labor is in short supply. I can understand the slim pickings in labor and materials, but land???There are so many undeveloped or underdeveloped land all over the place. I can understand that speculators sit on land for ages, but this is the time to build. If they still don't sell when prices are so strong they are never going to sell 1 Quote Link to comment Share on other sites More sharing options...
fernz Posted August 26, 2014 Share Posted August 26, 2014 I can understand the slim pickings in labor and materials, but land???There are so many undeveloped or underdeveloped land all over the place. I can understand that speculators sit on land for ages, but this is the time to build. If they still don't sell when prices are so strong they are never going to sellI agree, there is plenty of land, from downtown to the inner loop an beyond, undeveloped land is everywhere. 1 Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted August 26, 2014 Share Posted August 26, 2014 One would think, but not everything out there is suitable. I see empty auto showrooms on the North Freeway, but nobody's in a hurry to redevelop them. But that could change. Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted August 26, 2014 Share Posted August 26, 2014 One would think, but not everything out there is suitable. I see empty auto showrooms on the North Freeway, but nobody's in a hurry to redevelop them.But that could change.Actually a lot of the rundown spots on 45n are seeing new action. Its just that they are not concentrated so it doesn't really seem like anything is going on. But I was mainly talking about the inner city. Downtown and the five or six miles to the south, east and north. Hmmm, that made me just think of something else, but I have derailed the thread enough.I will get back to Hanover River Oaks. Quote Link to comment Share on other sites More sharing options...
kdog08 Posted August 28, 2014 Share Posted August 28, 2014 according to the folks who document these things, houston will have constructed 18,000 new units this year. if there are 10,000 more i'm sure the CRBE would like to know. http://www.bizjournals.com/houston/news/2014/08/22/demand-for-houston-apartments-is-at-an-all-time.html?page=2i share your enthusiasm, however. whatever the number are, the building frenzy will not soon diminish. i am curious as to how middle income people are supposed to live in the city. not everyone can afford kirby or galleria highrises. all of this increased density is great, but if all of the low to middle income workers have to commute, density is for the well-off and traffic will continue to be an issue. it will be an issue regardless, but middle income folks not having to commute helps, but that discussion is for another thread.i hope the hanover river oaks makes pedestrian connectivity a priority. if you simply drive in to your home and have little access to the street on foot, you reduce the possibility that developments like west avenue will succeed. i really like this tower. i hope it CONNECTS well with its neighborhood. There are still affordable places, they are just shifting. I think Westheimer, if nurtured properly, could become populated and offer an alternative to inside the loop. I have quite a few friends that live alongside or very close to Westheimer, there are lots of apartments especially at interesections like Fondren, HIllcroft, Gesnner, Wilcirest, Diary Ashford that were once lower income and now being refurbished for under 1000k per month for a 1 BR. Quote Link to comment Share on other sites More sharing options...
nonenadazilch Posted August 28, 2014 Share Posted August 28, 2014 (edited) My biggest gripe is the loss of character in the near downtown neighborhoods. Wish there was someway to balance progress and history Either deed restricted boundaries or a proactive and responsive local gov't entity (such as a particular arm of the City of Portland, OR) seem to be the only methods to grant neighborhoods the wherewithal to guide their own destiny. Otherwise, citizens are at the mercy of private interests. The stigma of government bloat and/or intrusion is palpable until the lack of gov't advocacy personally impacts the individual who previously accepts that tenet. Edited August 28, 2014 by nonenadazilch Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted August 30, 2014 Share Posted August 30, 2014 (edited) according to the folks who document these things, houston will have constructed 18,000 new units this year. if there are 10,000 more i'm sure the CRBE would like to know. Here's an update: ...Data from the Greater Houston Partnership also shows the the city of Houston hit another record in July for building permits issued. This includes a 27 percent increase for residential permits.Under construction (red dots on map):Projects: 85Total units:23,781Recently opened (Green on map):Projects: 72Total units: 19,923Proposed Construction (yellow on map):Projects: 61Total units: 18,065... http://blog.chron.com/primeproperty/2014/08/multifamily-construction-projects-spread-over-houston-region/#26279101=0 Edited August 30, 2014 by toxtethogrady Quote Link to comment Share on other sites More sharing options...
Metro West Posted August 30, 2014 Share Posted August 30, 2014 (edited) This can only be interpreted as sign that residential and office space demand has plateaued. Edited August 30, 2014 by Metro West 2 Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted August 30, 2014 Share Posted August 30, 2014 If it has, that's a lofty plateau. The proposed units are less than a year's demand. Quote Link to comment Share on other sites More sharing options...
apple addict Posted October 13, 2014 Share Posted October 13, 2014 this thread has been quiet for a while now. anyone know the status of this building? Quote Link to comment Share on other sites More sharing options...
Luminare Posted October 13, 2014 Share Posted October 13, 2014 Its coming along pretty good. It looks like they have built beyond the last few levels of parking and are starting on the office portion of the building. They were also putting in CMU walls in the lower levels. Quote Link to comment Share on other sites More sharing options...
Avossos Posted October 13, 2014 Share Posted October 13, 2014 Its coming along pretty good. It looks like they have built beyond the last few levels of parking and are starting on the office portion of the building. They were also putting in CMU walls in the lower levels. ^^^ wrong project bud Quote Link to comment Share on other sites More sharing options...
TexasGeneral Posted October 13, 2014 Share Posted October 13, 2014 This project is a prime candidate to be scratched. Too many high-rise MF going up, equity harder to come by, all other high-rise MF projects are over budget, oil prices are in freefall, weakening economic growth, etc. etc. etc. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 13, 2014 Share Posted October 13, 2014 I think Hanover just got financing for their 3400 Montrose project. I'd expect lenders would want data about occupancy in their Post Oak project as well occupancy at some of the other highrises scheduled for delivery in the not-too-distant future before going ahead with this project. I am hopeful this will move forward in the coming years (given the quality of what Hanover has built in Rice Village)--once oil prices start to rise again. Quote Link to comment Share on other sites More sharing options...
Luminare Posted October 13, 2014 Share Posted October 13, 2014 ^^^ wrong project bud Derp >.> My bad. I was skimming through threads during my work break, saw and H ____ River Oaks X Stories and for some reason my brain said "Oh he means that Hines building on San Felipe -.- Quote Link to comment Share on other sites More sharing options...
Sky-guy Posted October 14, 2014 Share Posted October 14, 2014 This project is almost definitely happening. All of the stores on the property have big red and yellow signs that say "CLOSING" or "GOING OUT OF BUSINESS" an d there's a fence around the back side of the property. 2 Quote Link to comment Share on other sites More sharing options...
Luminare Posted October 14, 2014 Share Posted October 14, 2014 The Ashley Rug Story closing sign, yes. The Interiors place on W. Alabama I have no clue why it is closing, but it might have to do with the recent announcement that the rest of those apartments on Steel street were to close by the end of the year. Is this that mystical phase 3 west ave? or is Hanover planning something else along with this tower?? Quote Link to comment Share on other sites More sharing options...
apple addict Posted October 14, 2014 Share Posted October 14, 2014 swamplot had an article about the other half of the lot being bought and will be developed. http://swamplot.com/everybody-ordered-out-of-the-kirby-court-apartments-on-steel-st-on-account-of-theyve-been-sold-again/2014-10-10/ Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted October 14, 2014 Share Posted October 14, 2014 (edited) Frankly, this city can't build residences fast enough. Unless oil prices are starting to take a dent out of demand, there are 22,000 rental units being absorbed a year, and 7,000 single family homes a quarter are disappearing. It takes a lot of homes and apartments to support 100,000 new jobs a year. Edited October 14, 2014 by toxtethogrady Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 14, 2014 Share Posted October 14, 2014 I agree the city has need for new housing. However, I do wonder how much more luxury highrise development it can absorb. Quote Link to comment Share on other sites More sharing options...
Avossos Posted October 14, 2014 Share Posted October 14, 2014 I agree the city has need for new housing. However, I do wonder how much more luxury highrise development it can absorb. many "luxury" apartments arent going to be counted as "luxury" after a decade. I know of quite a few buildings that were built in the past five years that are borderline nice now... And new construction inside the loop would be silly if they didnt go "luxury"... It just makes business sense to me that within the loop, more luxury units are built. There is a range. a 1,500 a month unit and a 3,5000 a month unit are likely both considered high end. I still think we wont see a slow down... Quote Link to comment Share on other sites More sharing options...
Fortune Posted October 14, 2014 Share Posted October 14, 2014 Luxury is a very loosely used term now a days. Every new project going up is considered "Luxury" by the developers. It has become more of a standard term then a actuality. The true luxury properties will stay nice while the others will be low income or middle class. It's a cycle nothing new here. Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted October 14, 2014 Share Posted October 14, 2014 Anything that's a wrap with hardwood floors is considered "luxury". If it still has carpet on the floors, it's already a B. Quote Link to comment Share on other sites More sharing options...
citykid09 Posted October 14, 2014 Share Posted October 14, 2014 (edited) This project is almost definitely happening. All of the stores on the property have big red and yellow signs that say "CLOSING" or "GOING OUT OF BUSINESS" an d there's a fence around the back side of the property. How many times in Houston have we seen apartments, houses, buildings and retail centers torn down in anticipation of a nice new highrise or mixed use development only to see nothing happen? I can think of pently off the top of my head. With that being said, I hope that is not the case with this one and the Kirby Collection. Edited October 14, 2014 by citykid09 Quote Link to comment Share on other sites More sharing options...
lockmat Posted October 14, 2014 Share Posted October 14, 2014 many "luxury" apartments arent going to be counted as "luxury" after a decade. I know of quite a few buildings that were built in the past five years that are borderline nice now... And new construction inside the loop would be silly if they didnt go "luxury"... It just makes business sense to me that within the loop, more luxury units are built. There is a range. a 1,500 a month unit and a 3,5000 a month unit are likely both considered high end. I still think we wont see a slow down...Luxury or not, $1,500/month for a one or two-bedroom apartment is a lot of money for most people. Our living standards in the US are so high. Luxury is very common these days. Everyone has granite counter tops these days, anyone can get hardwood or laminate flooring. Luxury has almost become the norm. Twenty years ago, all these luxury apartments that people don't like to consider luxurious now would have been back then. I understand there is still another level luxury, but these "so called" luxury places people are trying to downplay are still very very nice. Plus, I think the locations themselves are propping them up to luxurious status - that's part of it. 1 Quote Link to comment Share on other sites More sharing options...
Howard Huge Posted October 14, 2014 Share Posted October 14, 2014 How many times in Houston have we seen apartments, houses, buildings and retail centers torn down in anticipation of a nice new highrise or mixed use development only to see nothing happen? I can think of pently off the top of my head.With that being said, I hope that is not the case with this one and the Kirby Collection.At least it wouldn't be as bad as what Crescent did to downtown in anticipation of building "Houston Center".What a massive kick in the balls THAT was, a travesty really. 1 Quote Link to comment Share on other sites More sharing options...
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