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Museum BLVD: Condominiums At 4819 Caroline St.


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  • 1 year later...

Official PR release:

http://www.prnewswire.com/news-releases/surge-homes-launches-new-museum-district-condo-community-300337899.html

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Located at 4819 Caroline Street, Museum BLVD is an $11 million, 50-condominium, mid-rise development, located in close proximity to the cultural and recreational amenities of the Museum District. Buyers can choose between lofts, one-and two-bedroom homes, and penthouses with large terraces and skyline views that range from 420 square feet to 1,099 square feet and include private, reserved parking in the gated garage on the building's first floor. Homes are priced from the $140s to the $340s, which are in contrast to the median home values of $745,000 in the Rice/Museum District market area, as cited by the Houston Association of Realtors.

 

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"In 2014 when we originally started consulting with thousands of Houstonians, we saw a great demand for affordable condominiums or townhomes for this great site on Caroline Street. However, we kept listening to our future homeowners and saw that demand shifted overwhelmingly towards condos in 2016. Houston's Inner Loop real estate market is clearly moving more and more towards affordable, worry-free new condos in sought-after areas offering walkability. It is the hottest residential product in the city right now," said Ben Lemieux, co-owner of Surge Homes

 

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  • 4 months later...

http://www.bizjournals.com/houston/news/2017/02/14/houston-condo-developer-doubles-down-on.html

 

Museum BLVD attracted more than 100 interested buyers, each of whom put a $1,900 deposit down to reserve the right to purchase one of 49 condo units. The $11 million condo project is proposed for 4819 Caroline St. in the Museum District, where the median home price is $745,000. Condos in Museum BLVD range in size from 420 to 1,099 square feet and in price from $140,000s to the $340,000s.

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Ah that's how they managed a "1 bedroom" in only 420 sq ft - no walk in closet, bathroom is absolute minimum size, and the kitchen is more just a wall decoration.  I wonder how that bedroom feels with both the pictured double bed AND a dresser

A2_1bed1bath-s.jpg 

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2 hours ago, Triton said:

420 square feet?!?!?!

 

420 sqft at $140,000 in the this location is much better than what The Ivy was attempting with 304 sqft at $120,000 in east downtown.

 

Over 100 deposits shows there's a lot demand.  

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https://www.bizjournals.com/houston/news/2018/06/19/houston-developer-begins-construction-on-museum.html

 



Construction has begun on a 37-unit mid-rise condominium project in the Museum District.

After preselling more than 50 percent of the condos, Houston-based Surge Homes secured construction financing through the Houston office of Dallas-based PlainsCapital Bank to build Museum Blvd, according to a press release. Construction began in May on the $12 million project, which is expected to be completed fall 2019, a spokesperson said.

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Has this been cancelled? Confusing article from Swamplot - they don't acknowledge the site as Museum BLVD. I find it odd for a parking garage to be here when the immediate area is mostly residential.  

 

http://swamplot.com/nabbing-an-empty-parking-spot-across-the-street-from-the-oaks-on-caroline-condos/2019-02-27/

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Nope.  A Surge Homes rep confirmed to me on the phone the project is moving forward.  I suspect the article might be confusing the vacant lot to the north of the Oaks on Caroline on which no construction is presently taking place.

 

Edit:  In looking at the size of this parcel, it might be for a first floor garage of Museum BLVD.  The parcel is a little under 20,000 square feet, so a 16,000 square foot first floor garage might make sense.

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23 minutes ago, houstontexasjack said:

Nope.  A Surge Homes rep confirmed to me on the phone the project is moving forward.  I suspect the article might be confusing the vacant lot to the north of the Oaks on Caroline on which no construction is presently taking place.

 

Edit:  In looking at the size of this parcel, it might be for a first floor garage of Museum BLVD.  The parcel is a little under 20,000 square feet, so a 16,000 square foot first floor garage might make sense.

 

Your edit sound right. As seen in hindesky's last photo, the parking level is already up. Whoever's behind the article should check here before posting.. 🙂

 

The empty lot across from Oaks on Caroline is proposed as two condo buildings by the same developer.

 

 

 

 

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  • 3 weeks later...
2 hours ago, Urbannizer said:

Surge Homes had a nice condo building planned for 615 West Alabama. Construction costs and tariffs euthanized Isabella at Midtown so I'm sure 615 W Alabama is a no go as well.

 

https://www.behance.net/gallery/73515941/PRESENTATION-DESIGN

 

3700c973515941.5c0c0faab7bb4.jpg

The lot referenced in the link at 1820 Binz is up for sale. I suspect Surge is limiting their ambitions at the moment, given the progress on Museum BLVD.

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16 hours ago, Urbannizer said:

Surge Homes had a nice condo building planned for 615 West Alabama. Construction costs and tariffs euthanized Isabella at Midtown so I'm sure 615 W Alabama is a no go as well.

 

https://www.behance.net/gallery/73515941/PRESENTATION-DESIGN

 

3700c973515941.5c0c0faab7bb4.jpg

 

Hopefully this forces Surge to actually invest in more moderated growth than putting all their eggs in one investment basket. All these companies banking on EB-5 are encountering a kind of reckoning of late. Its such a bs speculative market, and they should have known better to rely a big portion of their business on what could definitely be described as a "backdoor" option. Its their own fault, and they should pay for it.

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