In the only major city in the United States without zoning laws, developers can, in theory, build virtually anything, anywhere in the city. In practice, however, understanding and catering to local industries is a critical element in site selection, Mr. Cover says. “When you really get down to it, the city is market-zoned, because land prices are not based on zoning rights, they’re based on purely capitalistic, highest and best use value,” he said. “If you build the wrong product or build in the wrong place, the market is going to severely punish you.”
The 45-story former headquarters of Humble Oil, a predecessor to Exxon, has been sold to a developer that plans to convert the vacant office building to residential units – a redevelopment that could supercharge downtown revitalization.
The 1.2 million-SF building, located at 800 Bell, has been empty since the oil company relocated to its new campus about eight years ago.
The 45-story former headquarters of Humble Oil, a predecessor to Exxon, has been sold to a developer that plans to convert the vacant office building to residential units – a redevelopment that could supercharge downtown revitalization.
The 1.2 million-SF building, located at 800 Bell, has been empty since the oil company relocated to its new campus about eight years ago.
Not going to "supercharge it." It'll bring activity back to roughly where it was when the building was occupied eight years ago, with that activity occurring at different times of day than before. I imagine there will be fewer residents than there were office workers, but the residents will be around more often and interact with the neighborhood a little more.
"Video game violence is not a new problem. Who could forget in the wake of SimCity how children everywhere took up urban planning." - Stephen Colbert
