„ The 1.75-acre full city block, which the state owns in addition to the building, is outside Capitol view corridors that restrict the heights of some downtown developments, making it potentially a prime location for an office skyscraper, high-rise apartment complex or towering mixed-use project if the building eventually is torn down. The facilities commission pegs the “replacement value” of the 419,000-square-foot Hobby building at $152 million, an estimate that doesn’t include the value of the lot or take into account the possibility of a bidding war.„
That’s one building?
What could happen here if they destroy everything and a developer buys the whole property? What potential does the whole property have (FAR)?
Mega-brokerage CBRE is offering the Hobby site to investors and developers on behalf of the state, and the firm has cooked up some marketing materials that show the tremendous potential of the property — it’s a full block completely unencumbered by Capitol View Corridors or other constraints, and could support nearly 2 million square feet of mixed-use development according to these concepts, which show off an eye-popping supertall building containing more than 100 floors:
Looks ridiculous. Build it.