HOUSTON | Development Thread II

[Trae]

Thank Shasta for this

After a nearly two year wait, ground was broken this week on Metrontario's Life Science Plaza.

The original project was announced in 2003 as an 11 story medical office tower to be located at 2130 Holcombe Blvd on the former site of the long vacant Towers Hotel which was torn down.

The new tower will now be 13 floors (7 floors of office space over 5 floors of parking and ground floor retail). It will also have 300,000 square feet instead of 210,000. Completion is expecting in early 2008.

Cornerstone Hospital will open a 70 bed long term accute care facility on the site.

Add another crane to the Texas Medical Center skyline!

[Xeelee]

this is indeed goood news. Anyone know anythng about the medical towers in midtown? the ones in the shape of a semicircle?

[Houston Proud]

I think the medical towers in midtown was cancel, Xeelee, or I could be wrong.

[Cory]

Tower Construction Starts on Houston's Tallest Condo Project
September 26, 2006
By Tonie Auer, Southwest Correspondent

Vertical construction starts this week on the largest residential high-rise built in Houston to date with the building of towers of the Mosaic on Hermann Park high-rise condos in Houston.

Phillips Development & Realty and Developer Sales Group L.L.C. and Wood Partners are teaming up for this more than $100 million, 792-unit, mixed-use high-rise (pictured) consisting of two 23-story towers. Each tower will sit atop a six-story parking structure and 22,500 square feet of street level retail.

The 4.74-acre site is located adjacent to 400-acre Hermann Park, an 18-hole public golf course, amphitheatre, running trails, and Houston Zoological Gardens. It is located off Highway 288 near downtown Houston, Texas Medical Center and Rice University.

The Mosaic property at 5925 Almeda Road is slated for a fall 2007 completion date.

Condo sales continue to grow in Houston, according to the Multiple Listing Service statistics for August 2006 sales. In the Houston area, the overall median price in the townhouse/condo segment in Houston was up 4.5 percent for August with the average sales price of a townhouse or condo sold in the greater Houston at $153,066, which was a 3.7 percent increase from the same month last year, the report stated. Mosaic's units start at $164,000.

Additionally, the number of townhouses and condos that sold in August increased compared to last year's sales, with 708 units being sold last month, versus 690 properties in July 2005, or a 2.6 percent increase in year-over-year sales, the MLS report stated.

Residents at the Mosaic will be able to choose from a variety of loft-style plans, extended terrace or penthouse units. Residences will feature floor to ceiling windows, Mosaic glass tile backsplashes, stainless steel appliances and modern design accents.

Phillips Development & Realty is a Raleigh-based company with mid-rise projects currently under construction in Tampa: Casa Bella on Westshore and Le Jardin at International Drive. Developer Sales Group L.L.C. is a sales and marketing organization specializing in the real estate brokerage industry.

http://www.cpnonline.com/cpn/regions...&esindct=false

[Houston Proud]

Awsome news, WesternGulf. Does anyone know when they suppose to break ground on the Houston Pavilions?

[Great_Hizzy]

October is the month that has been speculated upon the most.

[kardon]

Originally Posted by WesternGulf

Tower Construction Starts on Houston's Tallest Condo Project

In the Houston area, the overall median price in the townhouse/condo segment in Houston was up 4.5 percent for August with the average sales price of a townhouse or condo sold in the greater Houston at $153,066, which was a 3.7 percent increase from the same month last year, the report stated. Mosaic's units start at $164,000.
http://www.cpnonline.com/cpn/regions...&esindct=false

WOW...$153,066. Thats extremely low. The starting point at $164,000 is a bargin. Why are the price points in Houston so low?

[Xeelee]

I dont know but i would not mind having one of those. I used to stay in 2016 Main.

[JAM]

Originally Posted by kardon

WOW...$153,066. Thats extremely low. The starting point at $164,000 is a bargin. Why are the price points in Houston so low?

Lack of zoning.

[Cory]

I think it is more of the developer. I hear the prices for their projects in Atlanta aren't too shabby either. Of course, that's 1 bed/ 1 bath. I say if you are the bachelor type, that's not too bad for being right outside Hermann Park and the Museum District.

[mikecolley]

Does anybody have any information on the construction on the corner of Richmond and Weslayan? Do you know exactly what it is going to be? The sign says "Mixed Use Development". They've demolisehd several buildings, so it looks like it's going to be something big!

[Trae]

Here are two views from the website showing One Park Tower its downtown position:

[Xeelee]

so when does this thing break ground?

[Great_Hizzy]

The park itself is already under construction. One Park Place is scheduled for a Dec/Jan. groundbreaking.

[Houston Proud]

Do anyone have pictures of the park groundbreaking?

[Visiteur]

Wow, someone really needs to construct some parking garages out there...way too many surface lots for a downtown area.

[Boris]

A lot of that ground parking area to the west of One Park Place will be taken up by the Pavillions.

[houston19514]

Originally Posted by Houston Proud

Do anyone have pictures of the park groundbreaking?

The official groundbreaking has not occurred. It will be October 16. There is work already being done though, because they were able to get an early start on the excavation for the underground parking garage being built in conjunction with the park.

[Houston Proud]

Okay, thanks Houston.

[c4smok]

area in the black is prime for res development I think =X

good spot for a trump tower =P