Does anyone have any info on this project where it is in the planning process and expected start?

Thanks.

Check out Coming and Going at the top of this forum.

https://texags.com/forums/35/topics/3011532/0

I like the idea of moving this discussion over to a new thread. Below is what was posted in comings and goings about the project. If this type of copy/paste re-posting is against the rules, then my apologies.

techno-ag
5:49p, 6/18/19
AG
Update on Innovation Towers on West Villa Maria. $250 million dollar Galindo project.

http://wtaw.com/2019/06/18/brazos-county-commissioners-learn-about-250-million-dollar-high-rise-condo-development/
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bcstx06
In reply to techno-ag 7:08p, 6/18/19

Nice! Great development for the City of Bryan. I have always said that high rise condos would be great in that area. Thank you Ram Galindo for investing in Bryan!

The explosive development of HWY 47 is starting to begin!

You should consider combining 2 of the towers making a 24 story tower. It could be the Transco Tower of Brazos County with retail and restaurants below.

In other news near here, I see that a Pizza Hut is going in at Rudder Landing (Walmart Center).

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techno-ag
In reply to bcstx06 8:37a, 6/19/19
AG
There's certainly groceries over there thanks to Walmart. Close to RELLIS and Health Science, too. Should do well.

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kraut
In reply to bcstx06 9:16a, 6/19/19
AG

Quote:

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bcstx06 said:
Nice! Great development for the City of Bryan. I have always said that high rise condos would be great in that area. Thank you Ram Galindo for investing in Bryan!

The explosive development of HWY 47 is starting to begin!

You should consider combining 2 of the towers making a 24 story tower. It could be the Transco Tower of Brazos County with retail and restaurants below.

In other news near here, I see that a Pizza Hut is going in at Rudder Landing (Walmart Center).

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They probably can't go too high because of the proximity to the airport.
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bcstx06
In reply to kraut 1:03p, 6/19/19

That's true and the residents of Traditions and near by neighborhoods might complain. An uptown type development would have been nice on the other side of HWY 47, with 1-2 or 3 story low rise retail restaurants and businesses in between. In other words a more urban type development with street level interaction. Or even placing this within the Lakewalk Development. But a great development for Bryan in any style.
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AG 86 BC
4:41p, 6/19/19
AG
Can't see this being successful. Where is the demand for high rise living in the area?
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agrab86
In reply to AG 86 BC 5:45p, 6/19/19
AG

Quote:

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AG 86 BC said:
Can't see this being successful. Where is the demand for high rise living in the area?

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"If you build it they will come." So, it'll be successful.

Actually, Mr. Galindo is spearheading a privately funded effort, willing to form a MUD, and is asking the county to support expansion of a road that needs to be expanded anyway. If he were asking for public funding and the like, it would likely be a boondoggle. But Galindo has been successful with his other ventures in that part of town, so this one probably will be as well; he's proven he knows the market. I agree that it's risky, but it's his and his business partners' risk to take. I wish them the best of luck.


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dgonzo99
In reply to agrab86 6:24p, 6/19/19

Quote:

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Quote:

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AG 86 BC said:
Can't see this being successful. Where is the demand for high rise living in the area?

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agrab86 said:
"If you build it they will come." So, it'll be successful.

Actually, Mr. Galindo is spearheading a privately funded effort, willing to form a MUD, and is asking the county to support expansion of a road that needs to be expanded anyway. If he were asking for public funding and the like, it would likely be a boondoggle. But Galindo has been successful with his other ventures in that part of town, so this one probably will be as well; he's proven he knows the market. I agree that it's risky, but it's his and his business partners' risk to take. I wish them the best of luck.

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I can see a number of Former Students buying these for weekends and games just like the Casitas at Traditions. I'm sure Mr. Galindo has done intensive research on the market for these. He is a brilliant businessman.
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PS3D
In reply to agrab86 8:07p, 6/19/19

Quote:

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Quote:

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AG 86 BC said:
Can't see this being successful. Where is the demand for high rise living in the area?

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agrab86 said:
"If you build it they will come." So, it'll be successful.

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There are all sorts of failed developments in this town alone that prove that wrong.
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dallasiteinsa02
In reply to dgonzo99 8:29a, 6/20/19

Quote:

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Quote:

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+ 1 more quotes (click to expand)

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agrab86 said:
"If you build it they will come." So, it'll be successful.

Actually, Mr. Galindo is spearheading a privately funded effort, willing to form a MUD, and is asking the county to support expansion of a road that needs to be expanded anyway. If he were asking for public funding and the like, it would likely be a boondoggle. But Galindo has been successful with his other ventures in that part of town, so this one probably will be as well; he's proven he knows the market. I agree that it's risky, but it's his and his business partners' risk to take. I wish them the best of luck.

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dgonzo99 said:
I can see a number of Former Students buying these for weekends and games just like the Casitas at Traditions. I'm sure Mr. Galindo has done intensive research on the market for these. He is a brilliant businessman.

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I wish him all the luck in the world but in looking at his website this is a big jump for him. I can fly a Cessna but that doesn't mean that I can fly a 777.



techno-ag
In reply to dallasiteinsa02 8:59a, 6/20/19
AG

Quote:

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Quote:

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Quote:

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+ 2 more quotes (click to expand)

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dgonzo99 said:
I can see a number of Former Students buying these for weekends and games just like the Casitas at Traditions. I'm sure Mr. Galindo has done intensive research on the market for these. He is a brilliant businessman.

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dallasiteinsa02 said:
I wish him all the luck in the world but in looking at his website this is a big jump for him. I can fly a Cessna but that doesn't mean that I can fly a 777.

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Looks like he's doing one tower at a time. I think he'll be fine. Each tower will have 40-50 high end units. When he sells enough he can start on the next tower.



Captn_Ag05
9:42a, 6/20/19
AG
Are the towers all going to be residential?

I would love to see the project be a success, but five mid-rises for that area seems quite ambitious. If RELLIS is the success people are hoping it will be, 47, between Lake Walk/HSC area and RELLIS, is primed for residential and commercial development.

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dallasiteinsa02
10:41a, 6/20/19

These kind of deals typically have 20% down at reservation and then when 60-70% reserved the bank will fund construction depending on the developer. They are really hard to sell unless you have a track record of price appreciation after construction is complete or you are willing to fund construction without a bank involved. Not sure about the price point that they are going after but the management fees can also be a killer for the buyers.



dgonzo99
In reply to dallasiteinsa02 11:31a, 6/20/19

Quote:

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dallasiteinsa02 said:
These kind of deals typically have 20% down at reservation and then when 60-70% reserved the bank will fund construction depending on the developer. They are really hard to sell unless you have a track record of price appreciation after construction is complete or you are willing to fund construction without a bank involved. Not sure about the price point that they are going after but the management fees can also be a killer for the buyers.

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That 's how most of these developments are done in Houston. I am sure he will do the same. He is one of the best businessman here. What killed the failed huge apartment complex close to the Bush Library was that they really hadn't leased hardly anything before they were finished. Last I heard was that the complex is still pretty empty, and they are offering just about anything just to get people in there. Mr. Galindo has done his homework.
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agrab86
In reply to dgonzo99 12:38p, 6/20/19
AG

Quote:

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dallasiteinsa02 said:
dgonzo: That 's how most of these developments are done in Houston. I am sure he will do the same. He is one of the best businessman here. What killed the failed huge apartment complex close to the Bush Library was that they really hadn't leased hardly anything before they were finished. Last I heard was that the complex is still pretty empty, and they are offering just about anything just to get people in there. Mr. Galindo has done his homework.

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dgonzo99 said:

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If you're talking about Park West, keep in mind that's a TAMU-involved public-private effort. There is a false sense of security when public is involved - the public partner doesn't have to consider the market as much and the private partner has less at risk. Mr. Galindo must very closely consider the market or he will go bust. I'm with you in thinking he has done his homework.

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TommyBrady
In reply to agrab86 2:04p, 6/20/19
AG
Park West definitely started out slow and took awhile to get going but last semester they had a 90 something % occupancy rate and even had parking issues with so many people staying and visiting.
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95_Aggie
2:18p, 6/20/19
AG

Quote:

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Quote:
Park West definitely started out slow and took awhile to get going but last semester they had a 90 something % occupancy

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Because they drastically cut their prices. Doesn't mean they are going to hit their profitability goals.
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TommyBrady
In reply to 95_Aggie 3:08p, 6/20/19
AG
Yes, they need to be able to raise prices by 30% in the next two years and keep a high occupancy rate. The University giving them more exposure on housing and student affairs websites and on campus exposure will hopefully continue the trend of helping them reach the goal. They raised rates this year so we will see what happens.
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As an Eastside south College Station NIMBY - I'm happy for any and all fancy developments in Northwest Bryan !

Grow WEST young man, GROW WEST !

BwdAg said:

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Does anyone have any info on this project where it is in the planning process and expected start?

Thanks.

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I was actually in the area the other day and saw trucks and people with papers looking around the area. They may have been taking soil samples. It seems like they will be moving quickly though. I'm thinking they will have a sales office out there soon and hopefully we will get a look of what the condos will look like. Roof top pools and party areas will really sale. They will have views of Kyle Field.

The developer should also look into a possible hotel for part of one, office space etc. basically mixed use.

SARATOGA said:

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As an Eastside south College Station NIMBY - I'm happy for any and all fancy developments in Northwest Bryan !

Grow WEST young man, GROW WEST !

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That is more SouthWest Bryan.

Add a roof top bridge between each building with a jogging track on top of each building...PROFIT!!!

Thanks for doing this. We need to keep the Comings and Goings thread on topic.

I'm as guilty as the next on the derails, but this was pretty easy and a fairly interesting topic. thanks

bcstx06 said:

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BwdAg said:

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Does anyone have any info on this project where it is in the planning process and expected start?

Thanks.

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I was actually in the area the other day and saw trucks and people with papers looking around the area. They may have been taking soil samples. It seems like they will be moving quickly though. I'm thinking they will have a sales office out there soon and hopefully we will get a look of what the condos will look like. Roof top pools and party areas will really sale. They will have views of Kyle Field.

The developer should also look into a possible hotel for part of one, office space etc. basically mixed use.

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You are totally right. One part should be a hotel and one should be office. You could work and live there. And having a hotel would bring in more business for any restaurants or retail on the ground floors. Maybe even have a nice restaurant on the top floor so you can eat and have a great view of A&M.

https://www.kbtx.com/content/news/New-high-rise-condos-could-raise-property-taxes-for-nearby-residents-511808811.html

Looks like it may on Villa Maria right across from the Autumn Lakes subdivision and not really on 47.

A more information on the project:




https://miradorgroup.com/projects/texas-a-m-condominium-tower

Early Innovation Towers Brochure:
http://2o9kb51xfph91b7rki281uu9.wpengine.netdna-cdn.com/wp-content/uploads/2019/06/InnovationTowersBrochure061819.pdf

Skyscraperpage discussion on Innovation Towers
http://forum.skyscraperpage.com/showthread.php?t=239488

Does anyone know how the sale of these condos are going? Is construction still scheduled to start this year?

I'm skeptical. The other apartments he has built that I am familiar with are very poorly built. Lots of corners cut.

I found this, just listed 3 days ago:
1 Innovation Circle, Unit 112
Bryan, TX 77807
https://www.compass.com/listing/1-innovation-circle-unit-112-bryan-tx-77807/437044660540660097/



Looks nice! Much nicer then the first renderings.

Bryan City Council reviewing luxury condominium project again
https://www.kbtx.com/2020/10/26/bryan-city-council-reviewing-luxury-condominium-project-again/

Any news on this development? Is it still happening? Did the city of Bryan approve it?