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Mixed-Use Development At 4000 North Shepherd Dr.


Urbannizer

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Ross, you beat me to the post.  

 

So us homeowners aren't the only people who get strange letters of the "We will pay you lots of money for your lovely property.  We are real." sort just kinda showing up.  Who woulda thunk it...  :ph34r:

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  • 5 years later...
53 minutes ago, dbigtex56 said:

Per The Leader News,  the 1949 Sears North Shepherd branch will be closing soon, sometime between July 11th and August 30, 2020.

 

The only surprising thing about this news is that it held out this long . . .

 

I think that leaves us with one Sears store (not counting Sears Hometown or appliance outlet stores) in the metro area, unless the Pasadena store is closing now too.

 

It looks like the Pasadena store survives... for now. It looks like this latest round of closings leaves about 5 Sears stores in the entire state of Texas. 

Edited by Houston19514
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On 7/5/2020 at 3:13 PM, Houston19514 said:

 

The only surprising thing about this news is that it held out this long . . .

 

Agreed, I've been expecting it to close for quite some time. But it still sucks. I've bought quite a few large appliances at that store, along with countless car batteries and gallons of paint, and the morning after a tropical storm I was at the door when they opened to buy a new wet vac. If you live in the area, they were hard to beat for convenience. 

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  • The title was changed to Oaks On Shepherd Redevelopment
  • 8 months later...
  • 5 months later...
  • The title was changed to Sears 4000 North Shepherd Branch Closing
  • 3 weeks later...
  • 4 weeks later...

It is my understanding that Toll Brothers Apartment Living is developing apartments at 4000 N. Shepherd (old Sears) and also at 3001 Canal.  The N. Shepherd development might be with Seritage, who they recently partnered with on a project in Dallas.  I don't know too much more at the moment and was wondering if anyone had heard about these.

 

Mods- Feel free to separate into different threads or combine with existing.  

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  • The title was changed to Multifamily At 4000 North Shepherd Dr.
3 hours ago, Paco Jones said:

It is my understanding that Toll Brothers Apartment Living is developing apartments at 4000 N. Shepherd (old Sears) and also at 3001 Canal.  The N. Shepherd development might be with Seritage, who they recently partnered with on a project in Dallas.  I don't know too much more at the moment and was wondering if anyone had heard about these.

 

Mods- Feel free to separate into different threads or combine with existing.  

Seritage is the entity that ended up with the Sears properties in the Sears bankruptcy.

On 8/30/2022 at 10:43 AM, goofy said:

20150312153 is the county clerk file number. 

That was the memorandum of lease where the Sears/Kmart operating company leased the property from Seritage, which ended up as the owner in the Sears Bankruptcy.

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  • The title was changed to Toll Brothers Multifamily At 4000 North Shepherd Dr.
  • 6 months later...

My gut is telling me they’re going to wait for the other apartments in the area to finish and get occupied before any decisions are made here. Could be over 1k people moving into the apartments on crosstimbers that adjoin this property. 

Still listed as a “future project” in the toll brothers 2023 q1 investor update 

 

https://investors.tollbrothers.com/~/media/Files/T/TollBrothers-IR/documents/Corporate Profile/tol-q1-company-overview_012023.pdf

82FDAD52-7859-42B2-9D1A-9206F393B866.png

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  • 4 weeks later...
  • 4 months later...
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Seems like there was a different thread for this location but I don't see it. Here's some redevelopment information regarding the property.

 

"Lamasar Capital, Summit Capital and Delta LP... along with Houston-based Fidelis,  has been brought on as partners to build and manage the development...

They foresee a vibrant mixed-use development including residences and a spectrum of destinations and services.

 The timeline for the new development's completion is estimated to span 3-4 years."

 

https://www.theleadernews.com/community/former-sears-site-in-garden-oaks-set-for-redevelopment/article_50279192-856c-11ee-b4a9-0fd16ab80222.html

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I’m looking at fidelus portfolio and it’s a bunch of garbage front parking big box. Kind of worried but also hoping the city makes them do something slightly more beneficial to the hood. It says they want to do what the site deserves but manys the slip! 
I’m cautiously optimistic, but excited none the less. 

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