NO BIG HURRY FOR APACHE’S BLVD PLACE TOWER Permits for Apache Corporation’s planned 34-story tower on Post Oak Blvd. next to the new Whole Foods Market have “just been granted approval” from the city, writes Roxanna Asgarian. The reporter also notes that the permits for the project were filed way back in December 2013. But any regulatory delays appear to be no big deal for the independent oil and gas company. Apache “has no immediate plans for the site,” she reports. [Houston Business Journal; previously on Swamplot] Rendering: Hines
Only in Houston, Apache gets building permits for a project they don’t plan to build any time soon, while countless others wait for months for projects ready to go
Crosscreek: I think you may misunderstand what happened here. It sure looks like Apache applied for a permit 18 months ago (when oil prices were high) planning to build something, and now that the oil market has turned, they finally get the permits (and no longer have the money or the intent to build the new building)
Crosscreek: Did you read the headline? Seems like it took a year and a half. Paraphrase:
“The permits for the project were filed way back in December 2013 and have just been granted approval”.
I always keep an extra set of permits for a high rise office tower in my desk drawer too.
Apache and Chevron, both of which have massive assets in reserve, should both be building now when steel and labor are getting cheaper and by the time Oil makes its comeback they’ll have their shiny new towers for all those new employees. Wait, that makes sense, soooo, forget it.
Quit being pussies and build the damned tower. I can abide by all the sissy companies that shelved their high rise projects recently because of low oil prices….oil will rebound you pussies.
Think of every single thing in your life that you use every day and try not to relate it to a dinosaur or two that died 60+ million years ago. Unless you’re wearing a polo shirt that you found washed up on the banks of the Amazon since the age of 9 and you have no choice but to sport an exposed uncircumcised penis with a chicken bone or two stuck somewhere in your nose, you’re part of the humanity cult that wants to pretend they’re “green” but couldn’t live a day without the influence of capitalism in some shape or form.
it’s not necessarily just the financing for the tower either. companies are tightening the hatches, reducing workspace and trying to sublease whatever space they can. perhaps Apache literally has no need/use for the new office space until the next major upturn which could very well be years from now. I don’t know their financial situation but even if in good standing I doubt investors would be happy to see them throwing down for a building at this point in time, perception matters sometimes.
Shannon I’d love to hear you voice that opinion in the middle of the Howard Weil conf next year. A lot of the attendees don’t get much amusement that week so it would be really good for them to get a great laugh.
How does Toby know about my chicken bone?
I’m pretty sure permits expire if you don’t use them for a while. So they may have some issues.
On a different subject entirely, is it me or does Apache Corporation’s building look like a cross between the John Hancock Building and the Prudential Tower in Boston? Interesting take if that was what they intended.
Its been my personal opinion that they will never build their building there.
Seems to me that they did a favor to the owners of BlVD place by buying the land from them.
They will eventually flip the land.