Dallas core developments thread (Houston, Spring: low income, rental, credit)

[ParaguaneroSwag]

Originally Posted by Dallaz

Construction Commences on The Talked About Rosewood Residences Turtle Creek High-Rise

Why are name brand condominiums so hot? Has the pandemics effect on the hotel industry forced them to focus on residential?

[Dallaz]

Originally Posted by ParaguaneroSwag

Why are name brand condominiums so hot? Has the pandemics effect on the hotel industry forced them to focus on residential?

I have no idea.

[Dallaz]

Another one


Hunt Realty unveils $5 billion redevelopment plan for downtown Dallas’ Reunion project

Reunion owner Hunt Realty Investments has just revamped plans for the more than 20-acre property as Dallas prepares an almost $3 billion replacement of its aging convention center.

The longtime owner of one of downtown’s largest undeveloped properties is planning for as many as 3,000 apartments, a 600- to 1,000-room hotel, 150,000 square feet of retail space and up to 2 million square feet of offices surrounding a 3- to 4-acre park.

“That’s probably $5 billion of development,” said Hunt Realty Investments president Colin Fitzgibbons. “It will be home to 5,000 residents, which is a third of the current downtown population — a significant add.

“There could be as many as 1,500 affordable units,” Fitzgibbons said. “It would be workforce housing for nurses, teachers, firemen, policemen.”

Rendering 1

Rendering 2

Edit: just seen that someone made a thread about this project

[LocalPlanner]

Originally Posted by Dallaz

I have no idea.

Just guessing here:

• An association with a prestige hotel brand helps a property stand out marketing-wise.
• The property may have an elevated level of resident services compared to other condo developments, with support from the brand to provide them.
• It may provide reassurance to prospective residents about the consistency and quality of the services provided by the POA, as the perceived risk of a bad POA might be a negative for some potential buyers.

[rabbit33]

Originally Posted by LocalPlanner

Just guessing here:

• An association with a prestige hotel brand helps a property stand out marketing-wise.
• The property may have an elevated level of resident services compared to other condo developments, with support from the brand to provide them.
• It may provide reassurance to prospective residents about the consistency and quality of the services provided by the POA, as the perceived risk of a bad POA might be a negative for some potential buyers.

Alternately, the potential tenants may be so unable to think for themselves, after a lifetime of advertising delivered intravenously, that they're willing to overlook Habitrail living if the "branding" is right.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

Just guessing here:

• An association with a prestige hotel brand helps a property stand out marketing-wise.
• The property may have an elevated level of resident services compared to other condo developments, with support from the brand to provide them.
• It may provide reassurance to prospective residents about the consistency and quality of the services provided by the POA, as the perceived risk of a bad POA might be a negative for some potential buyers.

But this has been the case for a long time. I’m trying to see why name brand condominium is so abundant now. It could just be a new business tactic. But I was wondering if the pandemics affect in the hotel industry might’ve pushed it that way. When a place to sleep is needed, it can be used whether hotel or apartment. Now, there’s even name brand prisons, see the Ritz Carlton Riyadh.

[LocalPlanner]

Originally Posted by rabbit33

Alternately, the potential tenants may be so unable to think for themselves, after a lifetime of advertising delivered intravenously, that they're willing to overlook Habitrail living if the "branding" is right.

There is actually a segment of the market that likes "Habitrail" living. It's relatively small in Texas though, because its main appeal to this segment is a location within a walkable urban district or a resort / beach setting (you see some on the coast).

[ParaguaneroSwag]

Originally Posted by LocalPlanner

There is actually a segment of the market that likes "Habitrail" living. It's relatively small in Texas though, because its main appeal to this segment is a location within a walkable urban district or a resort / beach setting (you see some on the coast).

Yeah they’re everywhere in Miami. You wouldn’t think of these developments in Dallas an Houston but here we are

[LocalPlanner]

Originally Posted by ParaguaneroSwag

Yeah they’re everywhere in Miami. You wouldn’t think of these developments in Dallas an Houston but here we are

Yeah, Miami and NYC are the U.S.'s condo capitals for sure. Chicago has some too.

I've never seen data to prove it, but many folks say having NYC migrants is often a significant factor in a local urban condo market (not talking about beach / resort condos). Miami certainly has those. I would imagine Latin American transplants or part-timers is probably also big.

[CMC_TX]

Originally Posted by ParaguaneroSwag

Why are name brand condominiums so hot? Has the pandemics effect on the hotel industry forced them to focus on residential?

Marketing an aspirational lifestyle… people associate it with the brand cache. I’d just be scared to see the monthly hoa fees, which increase almost yearly