128 replies to this topic

[Austin55]

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
 

 

[rriojas71]

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

[Jeriat]

I did not see this coming.

In honor of CM Punk's birthday...

[Austin55]

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

[John T Roberts]

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

[JBB]

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

[PeopleAreStrange]

That's great to see!

 

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

[Volare]

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

[johnfwd]

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

[rriojas71]

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.

[renamerusk]

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

[NSFW]

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

[cjyoung]

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

[rriojas71]

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. :-)

[youngalum]

one of these projects is likely not to happen

[John T Roberts]

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

[rriojas71]

one of these projects is likely not to happen

What projects are you referring to?

[johnfwd]

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.]

[JBB]

One Haggard Place is a residential building.

[johnfwd]

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.

[JBB]

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

[rriojas71]

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.

[JBB]

One Haggard Place also has some similarities to the Omni.

[johnfwd]

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.

[pelligrini]

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

[JBB]

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.

[rriojas71]

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.

[johnfwd]

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?

[renamerusk]

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.

[johnfwd]

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?

[rriojas71]

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

[JBB]

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.

[fortworth81]

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

[renamerusk]

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.

[Austin55]

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.

[JBB]

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

[Austin55]

"Stalking"

[Urbndwlr]

 

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?

[renamerusk]

 

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.

 

This is the latest concept to be posted since the original sketch.  It looks quite impressive:

 

https://www.dfwi.org...orth-residences

[Jeriat]

That looks much taller than 24 floors...

[renamerusk]

That looks much taller than 24 floors...

 

 Odd; the location is incorrect....between Belknap and Weatherford?

 

 

Photo shopping.....sloppy IT...several projects-w/location pinned incorrectly....who is in charge at DFWI?

[Jeriat]

This has to be a different building.

[Austin55]

It is a different building. That's 5th + West residences in Austin. Same architect, though. And way taller at 37 floors.

http://austin.towers...dos/fifth-west/

[renamerusk]

A bit of Austin,Texas;  I will take it"

[renamerusk]

 

 

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?

 

 

  This may be the beginning of a bleed over from Austin, Texas to Fort Worth; and which can have both positive and negative impacts on our housing market and whether it came remain relatively affordable.  The Worth is a test case and if it is successful, as I have no reason for it to be, then there will quickly be other condo/spec towers announced.   There is a sizeable Asian, Russian and Middle East mega rich investors who will be seeking safe havens to park their wealth in low tax and low cost of living cities, Fort Worth being a prime candidate. 

 

I earlier wondered what was actually going on in Austin, Texas; and now I think I have a pretty good idea.

 

Vancouver, BC.

 

http://www.scmp.com/...dominium-market

[Jeriat]

It is a different building. That's 5th + West residences in Austin. Same architect, though. And way 37 floors.

http://austin.towers...dos/fifth-west/

 

Yeah, I thought it looked familiar. 

[Austin55]

Here's 5th+West edited down to 24 floors just for fun

 

 

another angle

 

[rriojas71]

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.

 
This is the latest concept to be posted since the original sketch.  It looks quite impressive:
 
https://www.dfwi.org...orth-residences

When I went through their portfolio when this was announced I was drawn to the 5th & West building and thought the Worth may take some cues from this project. I was in Austin this weekend and saw this building up close and it was clean and sharp looking. I think the location it is being proposed for is my only drawback because of how disconnected that part of downtown feels right now... hopefully in 5 years that may change

[renamerusk]

......I think the location it is being proposed for is my only drawback because of how disconnected that part of downtown feels right now... hopefully in 5 years that may change

 

 Hopefully in 5-10 years, this part of Downtown will be alive.  Right now there is the Panther Island Pavilion which has a lot of potential. Personally, I have been advocating that Downtown needs more squares and centers of nightlife beyond Sundance, where in my opinion too much of Downtown is controlled by a single entity.

 

I have been looking for a part of Downtown that can become the next "entertainment district" and the closeness to the river can make this corner of Downtown a very nice location for riverfront cafes and the likes. Worth Tower may just be the first of more towers to come for this part of Downtown.

[renamerusk]

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

 

It is a different building. That's 5th + West residences in Austin. Same architect, though. And way taller at 37 floors.
http://austin.towers...dos/fifth-west/

 

"The Worth sales office, complete with finish out samples and detailed renderings, is scheduled to open near the site in the first half of 2018". FWBP

 

These three encouraging signs lead to a presumption that this project is moving along at a much quicker pace than the pace of your typical Fort Worth project.