toxtethogrady Posted November 30, 2021 Share Posted November 30, 2021 (edited) It's not the Texas A&M Innovation Plaza? (Actually it appears the Tower is in an Access Restricted area) Edited November 30, 2021 by toxtethogrady 2 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted August 10, 2022 Share Posted August 10, 2022 2022 bump. Prime location here. When will we see this old Best Western hotel demolished for something taller? Does Medistar still own it? Quote Link to comment Share on other sites More sharing options...
hindesky Posted August 10, 2022 Share Posted August 10, 2022 (edited) 24 minutes ago, Highrise Tower said: 2022 bump. Prime location here. When will we see this old Best Western hotel demolished for something taller? Does Medistar still own it? Yes according to this map. Edited August 10, 2022 by hindesky 2 Quote Link to comment Share on other sites More sharing options...
strickn Posted August 10, 2022 Share Posted August 10, 2022 Just leaving this (vertical office tower addition) here... https://www.historicaugusta.org/properties/2016-the-penthouse-at-the-lamar-building-753-broad-street/ Quote Link to comment Share on other sites More sharing options...
DotCom Posted October 13, 2023 Share Posted October 13, 2023 2023 Bump. I haven't seen any TDLR TABS filings or building permit apps. As Urbannizer noted above, this is no longer on Medistar's website. I'm not taking the time to check HCAD. Anybody got anything? Quote Link to comment Share on other sites More sharing options...
Bassclef Posted October 13, 2023 Share Posted October 13, 2023 3 hours ago, DotCom said: 2023 Bump. I haven't seen any TDLR TABS filings or building permit apps. As Urbannizer noted above, this is no longer on Medistar's website. I'm not taking the time to check HCAD. Anybody got anything? I knew this wasn’t going to happen. 1 1 Quote Link to comment Share on other sites More sharing options...
monarch Posted October 13, 2023 Share Posted October 13, 2023 22 minutes ago, Bassclef said: I knew this wasn’t going to happen. ^^^ this particular development is most likely to be constructed in AUSTIN, TX vs DALLAS, TX. houston just does not get this type of magnificent development anymore. so very sad isn't it... ? Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted October 16, 2023 Share Posted October 16, 2023 On 10/13/2023 at 6:27 PM, monarch said: ^^^ this particular development is most likely to be constructed in AUSTIN, TX vs DALLAS, TX. houston just does not get this type of magnificent development anymore. so very sad isn't it... ? Austin actually has a new building with the same name. It was finished last year. Currently, it appears to be empty. "Innovation Tower, which is downtown but closer to the University of Texas and has a place on our multi-tenant buildings list below, is another shiny new tower with no one in it. Brokers said there's nothing to report yet on the tenant front, but they're trying." 5 1 1 Quote Link to comment Share on other sites More sharing options...
monarch Posted October 16, 2023 Share Posted October 16, 2023 3 hours ago, ChannelTwoNews said: Austin actually has a new building with the same name. It was finished last year. Currently, it appears to be empty. "Innovation Tower, which is downtown but closer to the University of Texas and has a place on our multi-tenant buildings list below, is another shiny new tower with no one in it. Brokers said there's nothing to report yet on the tenant front, but they're trying." ^^^ no surprise here... actually, PROPS to you for the clarification. about a month or so ago, i thought that i had read or seen an illustration of an INNOVATION TOWER (either in austin, tx... or coming soon to austin, tx) upon my last post, i was just a tad bit too lazy to dwelve into searching for it. however, it's really SAD that the powers that be... are so very HIGH ON AUSTIN, TX, they are more than willing to construct something in a heartbeat (WITHOUT AN ACTUAL TENANT) just for the sheer momentum of constructing in a city as dynamic and magnificent as austin, tx. what on earth, has happened to this form of magic in our wonderful fair city of houston, tx... ? sigh... Quote Link to comment Share on other sites More sharing options...
Darb64 Posted October 16, 2023 Share Posted October 16, 2023 42 minutes ago, monarch said: ^^^ no surprise here... however, it's really SAD that the powers that be... are so very HIGH ON AUSTIN, TX, they are more than willing to construct something in a heartbeat (WITHOUT AN ACTUAL TENANT) just for the sheer momentum of constructing in a city as dynamic and magnificent as austin, tx. what on earth, has happened to this form of magic in our wonderful fair city of houston, tx... ? sigh... To who's benefit is adding to the glut of unused office space? 6 1 Quote Link to comment Share on other sites More sharing options...
monarch Posted October 16, 2023 Share Posted October 16, 2023 50 minutes ago, Darb64 said: To who's benefit is adding to the glut of unused office space? ^^^ the developers knew wholeheartedly that there was a "glut of unused office space" when they constructed this edifice in the first place. however, my point was that they constructed this particular development based upon the FUTURE MOMENTUM within this hyper-dynamic and magnificent city. everyone knows that austin, tx, is a city of the future... Quote Link to comment Share on other sites More sharing options...
Darb64 Posted October 16, 2023 Share Posted October 16, 2023 3 hours ago, monarch said: everyone knows that austin, tx, is a city of the future... Evidently the City of the future is a city with a lot of large empty office buildings. 1 5 Quote Link to comment Share on other sites More sharing options...
monarch Posted October 17, 2023 Share Posted October 17, 2023 1 hour ago, Darb64 said: Evidently the City of the future is a city with a lot of large empty office buildings. ^^^ whatever floats your proverbial boat... 1 Quote Link to comment Share on other sites More sharing options...
KirbyDriveKid Posted October 17, 2023 Share Posted October 17, 2023 Provides some context to this fight (tldr; we are all in a sticky spot) -- https://www.wsj.com/real-estate/commercial/texas-cities-are-booming-but-their-offices-are-the-most-vacant-4cffb565 America’s highest office vacancies aren’t in the East and West Coast cities that have been shedding population and workers. They are in Texas, a thriving Sunbelt state that has been luring companies away from the big coastal cities. Houston, Dallas and Austin top the list of major U.S. cities with the highest office-vacancy rates, according to Moody’s Analytics. About 25% of their office space wasn’t leased as of the third quarter. That was more than double New York’s vacancy rate of 12% and well above San Francisco’s vacancy rate of 17%. Texas office floors are struggling to find tenants even though the state’s workers have been more eager to get back to the office than in most other places. According to Kastle Systems, which measures occupancy by counting keycard swipes in 10 major metro areas, Houston, Austin and Dallas have the highest office-return rates. Vacancies are high largely because Texas developers build too much. All three cities experienced a surge in construction in the 1980s, when tax rules favored developers and loose lending created a commercial real-estate bubble. Another construction spurt in the late 1990s aggravated the problem. [...]Office markets in other booming Sunbelt cities such as Atlanta are also suffering, despite economic growth and job creation. But the Lone Star State is an extreme case. Cheap land and lax regulation encourages developers to overbuild during boom times, said Thomas LaSalvia, head of commercial real estate economics at Moody’s Analytics. Construction in Texas has slowed from the 1980s, but new office completions as a share of the market still outpaced the rest of the U.S. each year for the past 16 years, said Jeff Eckert, the Dallas-based head of U.S. agency leasing at real-estate brokerage JLL. Older buildings have been losing tenants to the new competition. “We like to develop in Texas,” he said. [...] Austin saw a lot of new office construction over the past seven years, as developers rushed to cash in on the city’s emergence as a corporate hub. All those new towers are now competing with older buildings built in the 1980s and ’90s. When some construction projects delayed by the pandemic finally opened, developers found that demand was less than they had hoped, partly because of remote work, said Christopher Rosin, an associate economist at Moody’s Analytics. Although Austin’s office towers are busier than those in other cities, physical occupancy is still more than 40% below prepandemic levels, according to Kastle. Austin’s office-vacancy rate was 24.2% in the third quarter, according to Moody’s, up from 12.9% in the third quarter of 2019. Houston’s vacancy rate has also surged in recent years, but for different reasons. The city’s economy depends on the energy sector. A crash in oil prices in 2014 caused demand for office space to crater, helping push up vacancy from 14.9% in late 2014 to 23.5% in late 2019. Since then, it has increased to 26.4%—the highest among 79 markets, behind only the much smaller Charleston and Dayton, according to Moody’s. At Houston’s 4.5-million-square-foot Greenway Plaza office complex, an appraiser recently cut the estimated value by more than half to $425 million, down from $1 billion in 2017, according to Trepp data. The complex was 34% vacant as of September, up from 12% in March 2022. 4 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 17, 2023 Share Posted October 17, 2023 Here's some additional context: Austin, with its office market already 24.2% vacant, has another 7.2 Million square feet under construction (according to reports, mostly not pre-leased, and some that was pre-leased is available for sublease). The under-construction space will add 8.24 percent more supply. Downtown Austin is even worse: 2.4 million square feet under construction will add 14.13 percent more space to a market that is already 26.6% vacant. The entire Houston market only has 742,017 square feet of office space under construction; an addition to the market of a mere 3/10ths of 1 %. Downtown Houston has only 386,383 square feet under construction, an addition to the market of only 9/10ths of 1%. 7 Quote Link to comment Share on other sites More sharing options...
LosFeliz Posted October 17, 2023 Share Posted October 17, 2023 Is that just 1550 on the Green? Is there anything else under construction in downtown office-wise? Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 17, 2023 Share Posted October 17, 2023 4 minutes ago, LosFeliz said: Is that just 1550 on the Green? Is there anything else under construction in downtown office-wise? Yeah, I think it must be just 1550 on the Green. 3 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted October 17, 2023 Share Posted October 17, 2023 3 hours ago, Houston19514 said: Here's some additional context: Austin, with its office market already 24.2% vacant, has another 7.2 Million square feet under construction (according to reports, mostly not pre-leased, and some that was pre-leased is available for sublease). The under-construction space will add 8.24 percent more supply. Downtown Austin is even worse: 2.4 million square feet under construction will add 14.13 percent more space to a market that is already 26.6% vacant. The entire Houston market only has 742,017 square feet of office space under construction; an addition to the market of a mere 3/10ths of 1 %. Downtown Houston has only 386,383 square feet under construction, an addition to the market of only 9/10ths of 1%. I would imagine the majority of Austin's office space is fairly new as well. Downtown Houston's plan to convert older office buildings to residential would be a really bad omen for their market if it turned to that. Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 18, 2023 Share Posted October 18, 2023 Austin’s office binge is akin to Houston’s in the early 1980’s. 5 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted October 18, 2023 Share Posted October 18, 2023 11 hours ago, houstontexasjack said: Austin’s office binge is akin to Houston’s in the early 1980’s. Okay since we're going slightly off topic. Don't think it's akin. Let's look at the numbers. 7.2 million under construction in Austin. How much of our total office space (estimated 240 million), was built in the early 80s? Not sure. Let's start Downtown. Chase Tower - 1.7 million square feet. Wells Fargo Tower - 1.8 million square feet Enterprise Plaza - 1.46 million square feet Fulbright - 1.23 million square feet TC Energy Center - 1.25 million 7.44 million square feet in just 5 large buildings. We currently have 45-60 million square feet (depending on the source), available right now for lease. I'd go so far to say that we have never "recovered" from our 80s building spree. Austin will be just fine. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 18, 2023 Share Posted October 18, 2023 (edited) 7 minutes ago, Montrose1100 said: Okay since we're going slightly off topic. Don't think it's akin. Let's look at the numbers. 7.2 million under construction in Austin. How much of our total office space (estimated 240 million), was built in the early 80s? Not sure. Let's start Downtown. Chase Tower - 1.7 million square feet. Wells Fargo Tower - 1.8 million square feet Enterprise Plaza - 1.46 million square feet Fulbright - 1.23 million square feet TC Energy Center - 1.25 million 7.44 million square feet in just 5 large buildings. We currently have 45-60 million square feet (depending on the source), available right now for lease. I'd go so far to say that we have never "recovered" from our 80s building spree. Austin will be just fine. We had absolutely totally recovered from our 80s building spree. Not all that long ago, the office market in Houston was very tight and landlord -friendly. We just happen to be in another down-cycle. Edited October 18, 2023 by Houston19514 7 Quote Link to comment Share on other sites More sharing options...
bobruss Posted October 18, 2023 Share Posted October 18, 2023 Things could be worse. Look at China. They're imploding high-rises 15 at a time, and never been lived in. 1 2 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 18, 2023 Share Posted October 18, 2023 4 minutes ago, bobruss said: Things could be worse. Look at China. They're imploding high-rises 15 at a time, and never been lived in. Wow. Not too surprising and overdue. Anyone who has toured much of China has seen multiple HUGE high-rise projects that were never completed. It was CRAZY! 1 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted October 18, 2023 Share Posted October 18, 2023 2 hours ago, Houston19514 said: We had absolutely totally recovered from our 80s building spree. Not all that long ago, the office market in Houston was very tight and landlord -friendly. We just happen to be in another down-cycle. You might be right. There's a few buildings built during that time that have had "for rent" signs since, which would be an indicator of the property rather than the market. Sucks we won't get this cool building in the Med Center. 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted December 25, 2023 Popular Post Share Posted December 25, 2023 New Design: https://medistarcorp.com/innovation-tower/ 19 3 Quote Link to comment Share on other sites More sharing options...
Bassclef Posted December 25, 2023 Share Posted December 25, 2023 18 minutes ago, Urbannizer said: New Design: https://medistarcorp.com/innovation-tower/ Oh come on. No matter the number of renderings, this thing is not getting built. 1 Quote Link to comment Share on other sites More sharing options...
kennyc05 Posted December 25, 2023 Share Posted December 25, 2023 15 hours ago, Urbannizer said: New Design: https://medistarcorp.com/innovation-tower/ I like it! Merry Christmas everyone! 2 1 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted December 25, 2023 Share Posted December 25, 2023 17 hours ago, Urbannizer said: New Design: https://medistarcorp.com/innovation-tower/ Santa Urby strikes again! Merry Christmas @Urbannizer! 1 Quote Link to comment Share on other sites More sharing options...
aachor Posted December 26, 2023 Share Posted December 26, 2023 (edited) On 12/24/2023 at 8:35 PM, Urbannizer said: New Design: https://medistarcorp.com/innovation-tower/ The website is short on information, but it says "mixed use." And from the render, everything above the podium looks residential to me. If they're going mostly residential with a lesser amount of boutique office space and streel-level retail, or residential/hotel/retail, that would make a lot more sense to me than a massive mostly-office building in the next couple of years. Especially with all of the other construction in the Med Center. My wife works in the Med Center and we rented just outside the Med Center for several years. There is a serious lack of decent housing in the area. Something within walking distance of the major hospitals should do really well, especially if they can keep the rent within reach of hospital employees. Looking at availability on the website for The Latitude Med Center seems to confirm that there is a market here. Edited December 26, 2023 by aachor 5 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted December 27, 2023 Share Posted December 27, 2023 (edited) On 12/24/2023 at 9:35 PM, Urbannizer said: New Design: https://medistarcorp.com/innovation-tower/ A non hotlinked conceptual rendering of Innovation Tower planned for 6700 Main St. I'm including the rendering below, which is hosted on Imgur, in case the one Urbannizer directly posted from the site is later removed from Medistar's website.) Also, I sharpened the rendering some. The one on Medistar's website is a bit blurry. A description from the website: Innovation Tower will be an expansive high-rise mixed-use development, located at the southern edge of the Texas Medical Center and adjacent to the InterContinental Houston – Medical Center Hotel and Latitude Med Center Apartments, also developed by Medistar. Edited December 27, 2023 by IntheKnowHouston 1 Quote Link to comment Share on other sites More sharing options...
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