samagon Posted May 3, 2016 Share Posted May 3, 2016 (edited) 22 hours ago, H-Town Man said: Damn light rail doesn't attract any development... and the pierce elevated stifles any development in midtown Edited May 3, 2016 by samagon 8 Quote Link to comment Share on other sites More sharing options...
cspwal Posted May 3, 2016 Share Posted May 3, 2016 It's like a river keeping high rises out of midtown 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted May 3, 2016 Share Posted May 3, 2016 Right? Save the Pierce! It will protect our precious Midtown from those scary high rises. Heh.. 2 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted May 3, 2016 Share Posted May 3, 2016 5 hours ago, samagon said: and the pierce elevated stifles any development in midtown No one ever said "any." But it makes it less than what it could be, especially within 3-4 blocks of the freeway. Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted May 3, 2016 Share Posted May 3, 2016 Gosh, I hope that this Aussie is serious.... "Build baby, build." perhaps he he could buy those two prime residential highrise lots in downtown from Mr. Campo and actually build something on them before 25 years goes by. 3 Quote Link to comment Share on other sites More sharing options...
samagon Posted May 3, 2016 Share Posted May 3, 2016 (edited) 1 hour ago, H-Town Man said: No one ever said "any." But it makes it less than what it could be, especially within 3-4 blocks of the freeway. You're right. Planning to build 1000 units on 1.5 blocks is definitely less than it could be. Where's the rolleyes icon? The tallest residential tower in Houston (not even finished yet), Market Square Tower, it's 40 stories and 'only' has 463 units http://www.bizjournals.com/houston/news/2014/07/16/new-details-revealed-in-market-square-tower.html true it's on half a block, but my point stands, you'd have to have something of the similar height to market square tower over 3x the land area. And you're saying that it's less than it could be? as I said, rolleyes. Like really, it hurts they're rolling so hard. honestly, what this developer is proposing, I'll believe it when the dirt starts turning, pierce elevated or no. Edited May 3, 2016 by samagon 1 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted May 3, 2016 Share Posted May 3, 2016 (edited) How am I supposed to drink alone in Nouveau bar with two high rises next door? Gentrification at its worst. Edited May 3, 2016 by phillip_white 4 Quote Link to comment Share on other sites More sharing options...
lockmat Posted May 3, 2016 Share Posted May 3, 2016 18 hours ago, H-Town Man said: "Caydon's experience in building successful apartment developments in strategic locations in Melbourne makes them the ideal developer for these projects." Ummm... I guess. Kind of a strange sentence. Hope we're not being played like those three buildings in south downtown, Sky, Rise, and Edge, or whatever they were. Huey, Duey, and Louie. So far I don't see any reason to believe it's not legit. The information we have is not from a developer website but from two independent news sources. 1 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted May 3, 2016 Share Posted May 3, 2016 This is EXACTLY what this part of Midtown needs! 2 Quote Link to comment Share on other sites More sharing options...
lockmat Posted May 3, 2016 Share Posted May 3, 2016 We missed some other important quotes from the article! Self funding and commencing in November!: In Houston, Mr Russo said, there are good profits to be made. "There's no zoning at all like there is in Melbourne. You go through a planning authority but it's pretty straightforward. I bought my first site in January and will commence construction in November." "There are no off-the-plan sales. I will build the tower, lease it up and then sell the apartments to a pension fund in one line. For me it's like a working holiday." He said the US developments were being funded from his own capital, plus mezzanine and senior debt. "I'm also looking at opportunities in Seattle." Read more: http://www.afr.com/real-estate/joe-russo-buys-in-houston-as-melbourne-opportunities-run-dry-20160317-gnlfqw#ixzz47dPcQBid Follow us: @FinancialReview on Twitter | financialreview on Facebook 7 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted May 4, 2016 Share Posted May 4, 2016 (edited) 6 hours ago, samagon said: You're right. Planning to build 1000 units on 1.5 blocks is definitely less than it could be. Where's the rolleyes icon? The tallest residential tower in Houston (not even finished yet), Market Square Tower, it's 40 stories and 'only' has 463 units http://www.bizjournals.com/houston/news/2014/07/16/new-details-revealed-in-market-square-tower.html true it's on half a block, but my point stands, you'd have to have something of the similar height to market square tower over 3x the land area. And you're saying that it's less than it could be? as I said, rolleyes. Like really, it hurts they're rolling so hard. honestly, what this developer is proposing, I'll believe it when the dirt starts turning, pierce elevated or no. The "it" in my "less than what it could be" was overall Midtown development, not this particular development. The phrase "especially within 3-4 blocks of the freeway" should have made that clear, but you may have been already excitedly typing your reply before you read that part of the sentence. Edited May 4, 2016 by H-Town Man Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted May 4, 2016 Share Posted May 4, 2016 Here's another article. I'm starting to like this guy. http://www.theaustralian.com.au/business/property/speed-key-to-driving-inner-city-success/story-fn9656lz-1226722231280 Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand. "I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad." 2 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted May 4, 2016 Share Posted May 4, 2016 Anyone taking that comment as anything more than your typical CEO rhetoric to appease investors obviously doesn't understand the importance of overly enthusiastic optimism. Of course he takes a look at cycles, of course he watches whether the market is good or bad; you don't become the CEO of a billion dollar company by ignoring basic market economics. He's gotta sell this new (international) market to investors, and on a surface-level it may look brash and spontaneous and sexy, but be realistic; we're smarter than this. 3 Quote Link to comment Share on other sites More sharing options...
OkieEric Posted May 4, 2016 Share Posted May 4, 2016 I drove by this site tonight on Fannin and saw some "Common Ground" signs (which are also visible in Street View). Here is the flier for the listings: https://www.dropbox.com/s/x63d4xugyutyaw6/Midtown.3.Acres.pdf?dl=0 Undoubtedly the block on the lower left is the one indicated in the Caydon brochure, but from this it looks like that Art Supply building wasn't part of the deal? 1 Quote Link to comment Share on other sites More sharing options...
79ta Posted May 4, 2016 Share Posted May 4, 2016 where can his existing towers be seen? Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted May 4, 2016 Share Posted May 4, 2016 9 minutes ago, 79ta said: where can his existing towers be seen? Melbourne. 1 Quote Link to comment Share on other sites More sharing options...
79ta Posted May 4, 2016 Share Posted May 4, 2016 29 minutes ago, H-Town Man said: Melbourne. online. google just brings up stuff about an actor. Quote Link to comment Share on other sites More sharing options...
nate4l1f3 Posted May 4, 2016 Share Posted May 4, 2016 1 hour ago, 79ta said: online. google just brings up stuff about an actor. http://caydon.com.au/ that's the property group if I'm not mistaken 2 Quote Link to comment Share on other sites More sharing options...
nate4l1f3 Posted May 4, 2016 Share Posted May 4, 2016 Just now, nate4l1f3 said: http://caydon.com.au/ that's the property group if I'm not mistaken Click menu then properties 1 Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted May 4, 2016 Share Posted May 4, 2016 6 hours ago, OkieEric said: I drove by this site tonight on Fannin and saw some "Common Ground" signs (which are also visible in Street View). Here is the flier for the listings: https://www.dropbox.com/s/x63d4xugyutyaw6/Midtown.3.Acres.pdf?dl=0 Undoubtedly the block on the lower left is the one indicated in the Caydon brochure, but from this it looks like that Art Supply building wasn't part of the deal? This is great info. Thank you. Seems that if he purchased all of this then building the density he describes can be done (especially if Drew street is abandoned. poor Drew, his street is slowly being circumcised. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 4, 2016 Share Posted May 4, 2016 9 hours ago, BigFootsSocks said: Anyone taking that comment as anything more than your typical CEO rhetoric to appease investors obviously doesn't understand the importance of overly enthusiastic optimism. Of course he takes a look at cycles, of course he watches whether the market is good or bad; you don't become the CEO of a billion dollar company by ignoring basic market economics. He's gotta sell this new (international) market to investors, and on a surface-level it may look brash and spontaneous and sexy, but be realistic; we're smarter than this. Except that he's not just CEO. He's the CEO and Owner, using his own capital. No investors or lenders to appease or impress. 1 Quote Link to comment Share on other sites More sharing options...
samagon Posted May 4, 2016 Share Posted May 4, 2016 9 hours ago, H-Town Man said: The "it" in my "less than what it could be" was overall Midtown development, not this particular development. The phrase "especially within 3-4 blocks of the freeway" should have made that clear, but you may have been already excitedly typing your reply before you read that part of the sentence. apologies then. Your logic is still flawed: (rise, post, 2222 smith, camden midtown, etc) some of the largest developments in midtown up until recently are all within your radius of the freeway in midtown. I'd be happy to continue the discussion in another thread, just let me know where. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted May 4, 2016 Share Posted May 4, 2016 40 minutes ago, Houston19514 said: Except that he's not just CEO. He's the CEO and Owner, using his own capital. No investors or lenders to appease or impress. Ok, good for him, but he's entering into a market that he's never worked in before, and as an owner, that further proves what I was trying to say; he's smart and knows that being abrasive will drum up interest in the project, but let's not entertain the notion that he's ignoring market trends and basic economic logic, and somehow believe that's a good sign. He's unproven and we should be cautious about this project. Quote Link to comment Share on other sites More sharing options...
Discography 114 Posted May 4, 2016 Share Posted May 4, 2016 I'm cautious about every posting I read here. Haif has a proven track record of attracting many posters who don't have a clue. 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 4, 2016 Share Posted May 4, 2016 2 hours ago, BigFootsSocks said: Ok, good for him, but he's entering into a market that he's never worked in before, and as an owner, that further proves what I was trying to say; he's smart and knows that being abrasive will drum up interest in the project, but let's not entertain the notion that he's ignoring market trends and basic economic logic, and somehow believe that's a good sign. He's unproven and we should be cautious about this project. You're putting words in his mouth. All the article says is: "Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand. "I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad."" Nowhere has anyone claimed that he ignores market trends and basic economic logic. 1 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted May 4, 2016 Share Posted May 4, 2016 (edited) 12 hours ago, H-Town Man said: Here's another article. I'm starting to like this guy. http://www.theaustralian.com.au/business/property/speed-key-to-driving-inner-city-success/story-fn9656lz-1226722231280 Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand. "I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad." 15 minutes ago, Houston19514 said: You're putting words in his mouth. All the article says is: "Russo says he doesn't take notice of cycles, noting inner-city areas are always in demand. "I don't want to have to rely on up cycles to be able to trade. I like to always have something to sell, and those locations have proven to me that they sell whether the market is good or bad."" Nowhere has anyone claimed that he ignores market trends and basic economic logic. I wasn't so much addressing Mr. Russo as I was addressing what Htown Man said; though by "putting words in his mouth" I assume you mean "smart enough to analyze what Mr. Russo said and why he said it I that specific way"? Edited May 4, 2016 by BigFootsSocks Quote Link to comment Share on other sites More sharing options...
Timoric Posted May 4, 2016 Share Posted May 4, 2016 (edited) - Edited July 10, 2019 by Timoric 2 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted May 4, 2016 Share Posted May 4, 2016 12 hours ago, OkieEric said: I drove by this site tonight on Fannin and saw some "Common Ground" signs (which are also visible in Street View). Here is the flier for the listings: https://www.dropbox.com/s/x63d4xugyutyaw6/Midtown.3.Acres.pdf?dl=0 Undoubtedly the block on the lower left is the one indicated in the Caydon brochure, but from this it looks like that Art Supply building wasn't part of the deal? I hope not. That Art Supply store has some character and it would be nice to have that in Midtown permanently. 1 Quote Link to comment Share on other sites More sharing options...
Triton Posted May 4, 2016 Share Posted May 4, 2016 Some current projects: 6 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted May 4, 2016 Share Posted May 4, 2016 (edited) 1 hour ago, BigFootsSocks said: I wasn't so much addressing Mr. Russo as I was addressing what Htown Man said; though by "putting words in his mouth" I assume you mean "smart enough to analyze what Mr. Russo said and why he said it I that specific way"? Please enlighten us. Why did Mr. Russo say what he said in that specific way at that specific time? ;-) Edited May 4, 2016 by Houston19514 Quote Link to comment Share on other sites More sharing options...
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