[segovia]

I walk often on Heights Blvd. and was wondering what happened with this condo development (icitycondo)? Back in late March 2007, they had their grand opening. I wonder if they sold any units because the place looks unoccupied and unfinished.

[west20th]

segovia, on Wednesday, June 13th, 2007 @ 4:06pm, said:

I walk often on Heights Blvd. and was wondering what happened with this condo development (icitycondo)? Back in late March 2007, they had their grand opening. I wonder if they sold any units because the place looks unoccupied and unfinished.

The only units that were finished were the models. I guess the remaining units will be finished as they are sold. The rehab is OK, at least it is an improvement. I think the high price 200+ p/sf is scaring off the buyers. We have a friend who was very interested in a unit but backed off because he couldn't get the price he wanted.

[segovia]

200K+ is way over-priced. The greater part of the exterior structure/parking/landscaping leaves little to be desired. Your friend is probably better off buying an older bungalow in the area (IMHO).

[west20th]

segovia, on Wednesday, June 13th, 2007 @ 4:56pm, said:

200K+ is way over-priced. The greater part of the exterior structure/parking/landscaping leaves little to be desired. Your friend is probably better off buying an older bungalow in the area (IMHO).

Not 200K, 200+ p/sf. The 600SF units are going for about 130K. Not 200K but still overpriced IMO.

[segovia]

I stand corrected. I agree with you on "600SF unit @ 130K" being over-priced. Initially, I was hoping for brand new development similar to the current construction on Heights Blvd. and 14th Street.

[iwkyle]

segovia, on Wednesday, June 13th, 2007 @ 5:54pm, said:

I stand corrected. I agree with you on "600SF unit @ 130K" being over-priced. Initially, I was hoping for brand new development similar to the current construction on Heights Blvd. and 14th Street.

Thank you all for your interest in the project . We have sold 6 units. Smaller units carry a higher price per square foot than larger units. The units were gutted all the way to the studs and all major mechanical were replaced. Small unit with the finish level that we have supplied would range from $275-$300 per square foot if the building were completely new. You will find that larger units have a lower price per square foot because there is more space which is used for bedrooms...; however if you were to reduce the those units to 600sf-800sf they would be equally price per sf if not more. Larger units do carry a higher sales price price however, you do find that the price per sf is lower. The units we have a lot of cool features. You all should come by and take a look.

Each unit is built custom for each buyer and the cabinets have a 4-8 week lead time. We have had a couple of delays with materials arriving on-time however, you will see people start to move-in within the next 3-4weeks as we begin clsoing the units. There are more finishes to be completed on the building however, in an effort to keep the property affordable we are waiting until all materials arrive to complete the remainder of the work. We are committed to producing a great condominium development for the neighborhood. Please feel free to call me if you have any questions about the project I can be reached @ 888.CONDO-20 x100.

Also, if your friend is still interested have them call me and I will do what I can to make the deal work for them.

We are committed to producing good quality condominium developments.

This post has been edited by iwkyle: Monday, June 18, 2007 at 12:31 PM

[editor]

iwkyle, on Monday, June 18th, 2007 @ 12:19pm, said:

Thank you all for your interest in the project . We have sold 6 units. Smaller units carry a higher price per square foot than larger units. The units were gutted all the way to the studs and all major mechanical were replaced. Small unit with the finish level that we have supplied would range from $275-$300 per square foot if the building were completely new. You will find that larger units have a lower price per square foot because there is more space which is used for bedrooms...; however if you were to reduce the those units to 600sf-800sf they would be equally price per sf if not more. Larger units do carry a higher sales price price however, you do find that the price per sf is lower. The units we have a lot of cool features. You all should come by and take a look.

Each unit is built custom for each buyer and the cabinets have a 4-8 week lead time. We have had a couple of delays with materials arriving on-time however, you will see people start to move-in within the next 3-4weeks as we begin clsoing the units. There are more finishes to be completed on the building however, in an effort to keep the property affordable we are waiting until all materials arrive to complete the remainder of the work. We are committed to producing a great condominium development for the neighborhood. Please feel free to call me if you have any questions about the project I can be reached @ 888.CONDO-20 x100.

Also, if your friend is still interested have them call me and I will do what I can to make the deal work for them.

We are committed to producing good quality condominium developments.

Good to hear. Thanks for the update, and keep us informed.

[segovia]

It looks like this condo development came to a screeching halt. It has been over a year now and I see very few tenants. It looks like it was never fully completed (parking area). I wonder if the recent mortgage meltdown affected most of the prospective buyers.

[samiamj]

I just don't like the exterior and first impression of these condos. They need to spruce it up with some nice landscaping and just add high end features to the brick/lighting. For $130K for 600 sqft, that is $216.67 per sq ft. You are getting to River Oaks pricing.