[Urbannizer]

The article mentions the status of the next office tower, but nothing on the residential/hotel high-rise.

http://www.bizjournals.com/houston/b...o-on-hold.html

Originally Posted by HBJ

After Galleria-area tower sells, phase two on hold

After BBVA Compass Plaza, which opened at 2200 Post Oak Blvd. in April 2013, was purchased by a Spain-based private investor, HBJ caught up with one of the developers to talk about plans for a second phase nearby.

Preston Young, regional managing partner for Dallas-based Stream, said the sale showed that interest from outside investors is still strong in Houston despite low oil prices.

Still, he said the fundamentals of the market mean the phase two office tower proposed for 2100 Post Oak Blvd. is on hold for now. According to TRC Capital Partners' website, the proposed project would include 343,000 square feet of high-end office and retail space on 29 floors.

"Last year, we made the decision to put pencils down on that project for the time being. Not only would it be difficult to achieve financing for a spec office project right now, the fundamentals aren’t right," Young said.

"A similar thing happened with phase one," Young added. "We originally had plans in 2007 to push the ball forward on development, but the Great Recession put the project on hold for 18 to 24 months, and we broke ground in 2011. Right now, we’re in wait-and-see approach with phase two."