Putting Off the Ritz: Boulevard Place Towers Stalled

Aerial View of BLVD Place, Showing Proposed Ritz Carlton and Hanover Apartment Towers

Remember the two 30-plus-story towers planned for Boulevard Place on Post Oak — the Ritz Carlton Hotel and the Hanover apartment tower? How have they been surviving the rumbling credit crunch?

A HAIF user last week

got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly… they still expected both to happen, but they will be phased in.

Then yesterday came another comment:

i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

Followed by this:

As a sub on this project I will also confirm this. We have been told at least 6 months of delays.

But they still look great on ~~paper~~screen!

***

View of Blvd Place Showing Proposed Ritz Carlton Hotel Tower, Uptown, Houston

Hanover Company 37-Story Apartment Tower at BLVD Place, designed by Solomon Cordwell Buenz

BLVD Place [HAIF]
The Sleek Strip, the Ritz Tower, and the Path to Whole Foods: A Closer Look at Boulevard Place [Swamplot]
Hanover Apartment Tower at Boulevard Place: 37 Stories [Swamplot]
A First Look at the Ritz-Carlton Hotel Tower at Boulevard Place [Swamplot]

BLVD Place and Ritz-Carlton Hotel renderings: Wulfe & Co. Hanover tower rendering: Solomon Cordwell Buenz, via the Houston Chronicle

77056, Apartments, BLVD Place, Condos, Financing, Galleria, Hotels, Mixed Use, Proposed Developments, Redevelopment, Uptown

One Comment

kjb434 October 21, 2008 at 3:25 pm

Does anyone think the delay is a demand issue or just the acquiring of financing?

I know developers never like to say it over so they’ll just say it’s delayed. Looking at some other projects around town, it seems that the credit crunch has put the brakes on some developments that were ready to go. These development still meet criteria to get financing, it just isn’t there to get.