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The Worth Residences (24 floors)


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#1 Austin55

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Posted 26 October 2017 - 06:01 PM

Another 20 something highrise! This one will be 24 floors and situated at Henderson, bounded by Peach, Mills & Bluff.  should have killer views of Panther Island, in some ways I would consider this a Panther Island development, it's right on the edge. News via DTFW

Things are getting exciting :)

 

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#2 rriojas71

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Posted 26 October 2017 - 06:07 PM

Wow. Awesome. Things are starting to amp up and I’m starting to get there as well

#3 Jeriat

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Posted 26 October 2017 - 06:12 PM

I did not see this coming.

In honor of CM Punk's birthday...

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#4 Austin55

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Posted 26 October 2017 - 06:26 PM

I do believe this falls under the Panther Island design area, so zoning permits up to 288 ft here.

http://i.imgur.com/aMvPzPf.jpg

#5 John T Roberts

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Posted 26 October 2017 - 10:00 PM

We are slowly adding to our skyline.  This is great news.



#6 JBB

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Posted 26 October 2017 - 10:01 PM

Very cool.  Lots of good stuff happening in town these days.



#7 PeopleAreStrange

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Posted 26 October 2017 - 11:49 PM

That's great to see!

 

The location isn't all that great. Maybe it will spur redevelopment in that part of downtown.


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#8 Volare

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Posted 27 October 2017 - 02:33 AM

I hope it doesn't look as much like Burnett Plaza as the sketch suggests.



#9 johnfwd

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Posted 27 October 2017 - 05:37 AM

Great news!.  What is also noteworthy is that this project addresses an evident need for more residential condominiums in the downtown area.



#10 rriojas71

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Posted 27 October 2017 - 07:49 AM

I hope it doesn't look as much like Burnett Plaza as the sketch suggests.


I don’t think it will assuming that it will most likely be a glass tower.

#11 renamerusk

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Posted 27 October 2017 - 09:37 AM

That's great to see!

 

The location isn't all that great. Maybe it will spur redevelopment in that part of downtown.

 

Because of the location and the timing of the WR, we may look back at it for being the sign of a "big happening" at and for Panther Island.

 

GDA/Dallas is leading the design (Windrose Tower- Plano, Residence Stoneleigh-Dallas).

 

More details in the Fort Worth Business Press -

 

http://www.fortworth...29f24dc226.html



#12 NSFW

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Posted 27 October 2017 - 10:27 AM

According to Star Telegram the building will be glass, I am guessing it will look something like this.. http://gda-architect...gard-place.html

 

The views from the location will be great! 

 

Sales office will open in 2018


Adrian


#13 cjyoung

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Posted 27 October 2017 - 12:07 PM

Great news. Things will look really different downtown in a few years.



#14 rriojas71

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Posted 27 October 2017 - 03:42 PM

According to Star Telegram the building will be glass, I am guessing it will look something like this.. http://gda-architect...gard-place.html
 
The views from the location will be great! 
 
Sales office will open in 2018


I’m sure that is what it will be modeled after... although about 6 stories taller. :-)

#15 youngalum

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Posted 31 October 2017 - 01:40 PM

one of these projects is likely not to happen



#16 John T Roberts

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Posted 31 October 2017 - 01:54 PM

The case goes before the Downtown Design Review Board on Thursday to vacate the alley through the middle of the proposed block.



#17 rriojas71

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Posted 31 October 2017 - 03:29 PM

one of these projects is likely not to happen


What projects are you referring to?

#18 johnfwd

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Posted 01 November 2017 - 08:40 AM

According to Star Telegram the building will be glass, I am guessing it will look something like this.. http://gda-architect...gard-place.html

 

The views from the location will be great! 

 

Sales office will open in 2018

The design of the One Haggard Place building resembles that of a Class A Office tower rather than one for condominiums.  Just a lay person's observation.  Not being an architect, of course, I don't know what a condominium tower is supposed to look like.

 

[Youngalum can speak for himself, but I'm guessing he means that one of the two residential tower projects--the 24-story condominiums or the 32-story luxury apartments--is not going to be built.  But, since these projects involve separately owned properties with each possessing its own financing resources, I can't see this as a zero-sum game.]


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#19 JBB

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Posted 01 November 2017 - 09:18 AM

One Haggard Place is a residential building.

#20 johnfwd

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Posted 01 November 2017 - 10:25 AM

Thank you.  [Sigh!] The point I was trying to make is that the One Haggard Place building design (yes, it's a residential building!) looks like a Class A Office tower.


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#21 JBB

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Posted 01 November 2017 - 11:00 AM

Sorry I misunderstood. Thought you were saying it was a class A office building. I'm an idiot.

#22 rriojas71

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Posted 01 November 2017 - 12:11 PM

Thank you.  [Sigh!] The point I was trying to make is that the One Haggard Place building design (yes, it's a residential building!) looks like a Class A Office tower.


I think condo towers don’t follow any sort of design parameters... they can look like any type of building IMO. I’ve also seen office buildings that have been converted into condos (i.e. The Tower) so I’m not quite sure what the difference is if one is designed that looks like an office building. Maybe because it is all glass?

Also, I think this building and the one proposed for Commerce are different beasts... one is an Apartment tower and this one is a condo Tower. 2 separate markets so they won’t really compete.
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#23 JBB

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Posted 01 November 2017 - 12:46 PM

One Haggard Place also has some similarities to the Omni.

#24 johnfwd

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Posted 01 November 2017 - 01:29 PM

Here's an esthetics opinion from a single-family property owner with a nice front and back yard, Saint Augustine grass and plenty of trees.  I would consider living in a high-rise condominium if it looked like a residence.  I spend enough time at my downtown Fort Worth office that when I get home I want something different.  A glassy Class A office tower-looking home is not my cup of tea.  I know this philosophy diverges from the topic of this thread, but the building design as an esthetic inducement to a prospective residential property owner does make a difference, in my opinion.



#25 pelligrini

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Posted 01 November 2017 - 01:33 PM

Most condo towers will have more balconies and covered porches, unlike most office towers.


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#26 JBB

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Posted 01 November 2017 - 01:57 PM

My experience is that most urban multi-story residences that are nicely decorated don't look all that different on the interior than a single family home or a suburban apartment. That's where you're going to spend your downtime outside of work. It's about personal preferences, but I have a hard time thinking that one wouldn't be able to relax in an urban home because it's too much like the office.

#27 rriojas71

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Posted 01 November 2017 - 09:15 PM

Here's an esthetics opinion from a single-family property owner with a nice front and back yard, Saint Augustine grass and plenty of trees.  I would consider living in a high-rise condominium if it looked like a residence.  I spend enough time at my downtown Fort Worth office that when I get home I want something different.  A glassy Class A office tower-looking home is not my cup of tea.  I know this philosophy diverges from the topic of this thread, but the building design as an esthetic inducement to a prospective residential property owner does make a difference, in my opinion.


I don’t think this condo tower is geared towards that type of buyer. That is why they choose to live in a a single family home with grass and a back yard. Condo towers are for people who want to live in an urban environment and not have to worry about yard work upkeep.

#28 johnfwd

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Posted 02 November 2017 - 01:51 PM

As an inducement to buyers into these tower condominiums could you include in the building design interior common area space for an arboretum with pools and fountains?



#29 renamerusk

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Posted 02 November 2017 - 02:22 PM

As an inducement to buyers into these tower condominiums could you include in the building design interior common area space for an arboretum with pools and fountains?

 

They don't actually live in the condos; the buyers used the homes as short/long term rental and vacation property and for investments.



#30 johnfwd

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Posted 03 November 2017 - 07:30 AM

I recognize the type font...seriously, what percentage of condo buyers, do you think, purchase these units for vacation, rental, or as an investment?  Is this also part of a time-share practice?



#31 rriojas71

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Posted 03 November 2017 - 08:25 AM

As an inducement to buyers into these tower condominiums could you include in the building design interior common area space for an arboretum with pools and fountains?

 
They don't actually live in the condos; the buyers used the homes as short/long term rental and vacation property and for investments.

They may actually do that in places like NYC or SF maybe even to a lesser extent in Dallas, but I think the % of buyers in Fort Worth would be foolish to go with this option especially for a condo tower in FW

#32 JBB

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Posted 03 November 2017 - 08:27 AM

Very few, if any, are being purchased as vacation rentals. A VRBO and Air B-n-B search came up with 1 vacation rental downtown on the first few pages of results and that was a single apartment bedroom on Air B-n-B.

#33 fortworth81

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Posted 03 November 2017 - 09:42 AM

I don't think many, if any, HOA's would allow for temporary rentals.  So that option would be out. 



#34 renamerusk

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Posted 03 November 2017 - 11:26 AM

I recognize the type font...seriously, what percentage of condo buyers, do you think, purchase these units for vacation, rental, or as an investment?  Is this also part of a time-share practice?

 

 If you take Austin, Texas for example, a large percentage of condo and apartments are purchased by well heeled investors as tax shelters and income generators.   Investors are driving the boom of condo and apartments development in Austin. Of course, Austin has a vibrant tourism, conference and convention market, something that Fort Worth does not have at this time.

 

However, the tax structure could make investments in Fort Worth's relatively inexpensive real estate market a draw for out of town investors to enter our market as U.S. and Texas in particular are seen as a safe and favorable tax jurisdictions for national and international investors.

 

My hunch is that WR is more "dipping its toe in the water" and aiming at investors who are looking for new opportunities than it is their looking at the City's traditional housing market.



#35 Austin55

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Posted 08 November 2017 - 10:46 AM

Poking around TAD, the same ownership group owns 3/4 the block the block due south,  along Belknap. There's a 2 story law office w green tile roof and a parking lot out front which they don't have.


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#36 JBB

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Posted 08 November 2017 - 10:49 AM

That interactive map feature that was recently added to TAD is a game changer for those of us that enjoy property owner stalking.

#37 Austin55

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Posted 08 November 2017 - 10:50 AM

"Stalking"



#38 Urbndwlr

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Posted 10 November 2017 - 02:47 PM

 

I recognize the type font...seriously, what percentage of condo buyers, do you think, purchase these units for vacation, rental, or as an investment?  Is this also part of a time-share practice?

 

 If you take Austin, Texas for example, a large percentage of condo and apartments are purchased by well heeled investors as tax shelters and income generators.   Investors are driving the boom of condo and apartments development in Austin. Of course, Austin has a vibrant tourist, conference and convention market, something that Fort Worth does not have at this time.

 

However, the tax structure could make investments in Fort Worth's relatively inexpensive real estate market a draw for out of town investors to enter our market as U.S. and Texas in particular are seen as a safe and favorable tax jurisdictions for national and international investors.

 

My hunch is that WR is more "dipping its toe in the water" and aiming at investors who are looking for new opportunities than it is their looking at the City's traditional housing market.

 

I think you are correct.  There seems to have been a lot of investor buying of condos, mostly in "gateway" markets such as LA, NY, and MIA but apparently some in Texas too.

So long as the condo regime doesn't limit renting to tenants (as some do) that seems like a logical financial structure:  you buy a condo, plan to rent it out for an income stream.  Seems to be the tradition in New York, so why not here?






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