DOWN IN THE DYNAMO DISTRICT, FEELING THE LAND RUSH What’s happening to land values around the East Downtown site of Dynamo Stadium at Texas and Dowling? “Dave Cook with Cushman & Wakefield of Texas Inc. said he has six properties listed for sale in the area with an asking price of $50 per square foot, or nearly $2.2 million per acre. ‘That’s what the value will be when the soccer stadium is an actual reality,’ he said. Cook said property sold for $30 to $35 per square foot before the stadium site was acquired. An investor signed a contract last week, Cook added, to buy an 11,000-square-foot building on a one-acre tract at 2020 McKinney that’s leased to the City of Houston for parking administrative offices. The asking price was $2.2 million. ‘We got very close to that,’ said Cook, who would not reveal the actual sales price.” [Houston Business Journal]
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you know…
“Dynamo District” has a ring to it!
Dynamo Park building (privately funded of course) means big land values, big tax revenues and a win-win all around, which is what so many of us have been saying for years.
Dynamo District, anything that can be used instead of EaDo works for me.
Or how ’bout “DynamEado”?
‘From jefe:
Or how ’bout “DynamEadoâ€?’
How ’bout EaDynamo.
Or just EaDyno.
Local businesses will proudly advertise the DynoDistrict of Houston!
DynoDistrict is miles better than the nasty sounding eado.
I don’t see too much development around the baseball stadium, why would this be any different?
There are some new businesses around Minute Maid, though no *boom.* Yet the Dynamo stadium will enhance the growth potential in the area hugely because:
1) People want to congregate – even in this car centered city.
You can’t put an arena out in the SW sticks along 610 and expect to create a new focus for the entire city. The flip-side of No Zoning is Competing Resources, and, Reliant is just a sort of cold satellite out there.
2)Soccer is Everyman’s Sport.
Fans include public-transportation users and entire families. And EaDo is home to immigrants, artists, and free-thinking young professionals, you know, all the coolest people.
So, I believe it’s All Good!
largely, its a different in the economics and difference in land values. There is alot more opportunity from the development side at the $50 psf number rather than nearly double that by Minute Maid. Only one choice in regards to new construction and land close to $100 psf. Up, up, up.
Still, I dont see anyone rushing out to by $50 psf dirt on the eastside. So lets hope these rather absurd asking prices dont force us into another stalemate like we have in Midtown.
Me like dodi dodi dyno dodi….. WEEEEEEEE BALLS
I’m presuming that’s a reasonable price for a parking lot, then–which is about the only sort of development that sports facilities seem to create.
movocelot,
Perhaps some development would occur out in the SW “sticks” if the jerkoffs who owned the giant plot of land that used to be Astroworld would actually develop the freakin’ land. It’s been years since Astroworld shut down and these pigs have been sitting on a massive amount of perfectly good land that even has a commuter train running right by it.
Anyway… Sorry for the off-topic.
Ah yes, the truth finally comes out. The reason that the Astroworld site hasn’t been developed is that the owners are jerks. Thank you Schrepner Falco for sharing the enlightening glory of your boundless wisdom.
:facepalm:
TheNiche,
I said they were “Jerkoffs”, not jerks. Learn to read, TheNiche.
And thank you for sharing the “enlightening glory” of your sarcasm; that takes a lot of talent! Try not to be so verbose next time and you might end up sounding like a real person instead of a thesaurus.