529 replies to this topic

[happytown]

Wow, I remember when this project was first announced almost 5 years ago.

Hard to believe it isn't fully up and running yet. It looks beautiful, though. Definately worth the wait.

[Howard Huge]

What it might look like once retailers etc move in...
http://www.page-part...ave_package.pdf



Phase II and III (did we know about a phase 3 before? I don't remember that!)

:drool:

Can you imagine if this was downtown??

[lockmat]

West Ave’s 390 apartment units leased briskly and are 93 percent occupied today. But the 198,000 square-foot retail portion of West Ave – an estimated 50 store fronts on the first two floors of the project – leased at a slower pace.

http://culturemap.co...1-10-mixed-use/

[TheNiche]

http://culturemap.co...1-10-mixed-use/

Top-of-the-market apartments do tend to lease fast provided a couple of months of concessions and--oh yeah--19 months to lease up. I'd also point out that Bivins is citing units that are pre-leased, not occupied. Occupancy is 89% (meaning that average monthly absorption was 18 units, not especially impressive). The percentage of both leased and occupied units is actually down since having peaked this July.

Come on Ralph, I know you're a better writer than this. Is it that you think that stroking some egos will help you get early leads on breaking stories?

[lockmat]

Top-of-the-market apartments do tend to lease fast provided a couple of months of concessions and--oh yeah--19 months to lease up. I'd also point out that Bivins is citing units that are pre-leased, not occupied. Occupancy is 89% (meaning that average monthly absorption was 18 units, not especially impressive). The percentage of both leased and occupied units is actually down since having peaked this July.

Come on Ralph, I know you're a better writer than this. Is it that you think that stroking some egos will help you get early leads on breaking stories?

Maybe I've asked you this before, but where do I find out the occupancy rates of a certain place? An insider or a website? I need to bookmark if a website.

[TheNiche]

Maybe I've asked you this before, but where do I find out the occupancy rates of a certain place? An insider or a website? I need to bookmark if a website.

If you want to pay money, you can get an account with Reis, ADS, or O'Connor & Associates.

Otherwise, call them, sound professional, and ask. Didn't you work at VCR? You should be a natural.

[lockmat]

If you want to pay money, you can get an account with Reis, ADS, or O'Connor & Associates.

Otherwise, call them, sound professional, and ask. Didn't you work at VCR? You should be a natural.

what type of company would this professional be working for?

[TheNiche]

what type of company would this professional be working for?

appraisal

[lockmat]

Found this "updated" site plan for Phase II.

Looks like a hotel with a garage on the far wast side, a office mid-rise on the southwest side, mixed-use (retail/residential) on southern/middle portion (words that have "residential lobby"), two one-story retail/restaurant plats on the far east side, and "retail above" and a "theatre lobby" on the middle/northern portion.


http://www.page-part...ave_package.pdf

[DrLan34]

http://www.bizjourna...ore-stores.html

[houstonartstudent]

http://www.bizjourna...ore-stores.html

yay, 3 stores to do "window-shopping" and that's about it...i know i know, if I want affordable, marshalls is just down the street

[ChrisPHous]

West Ave Confirms New Retail

Stores are confirmed for West Ave. retail space.

[livincinco]

West Ave Confirms New Retail

Stores are confirmed for West Ave. retail space.

Not particularly impressed by the retail lineup thus far.

[roadrunner]

Not particularly impressed by the retail lineup thus far.

What? Why? Fashion boutiques are exactly what this development was aiming for.

[livincinco]

What? Why? Fashion boutiques are exactly what this development was aiming for.

Understood. Excepting Tootsies - look at the lineup. Two salons, an audio store, and a men's custom clothing shop. Fine for residents that are in the top 1%, but isn't going to bring much foot traffic. I give Bang & Olufsen eight months before they relocate.

[jgriff]

The line-up seems perfect to me. The people that I know that are in that area's demographic spend their money in stores like these.

A custom clothing shop for men just outside River Oaks? -- Perfect. My friends that make 3 times the money I do live in the area and they buy all custom tailored clothing. A Zegna shop would be good too.

Bang & Olufsen just outside River Oaks? -- Where else are their customers going to come from?

[LTAWACS]

Trust me.. you don't want other developers emulating this developer. There are some ate up aspects to this project that I wish I could share.
From a design standpoint.. its okay.. but that praise should be directed towards whatever architect they hired.

Why can't you share them with us?

[LTAWACS]

The line-up seems perfect to me. The people that I know that are in that area's demographic spend their money in stores like these.

A custom clothing shop for men just outside River Oaks? -- Perfect. My friends that make 3 times the money I do live in the area and they buy all custom tailored clothing. A Zegna shop would be good too.

Bang & Olufsen just outside River Oaks? -- Where else are their customers going to come from?

I find Zegna's styles a little bland. Too safe.

[livincinco]

The line-up seems perfect to me. The people that I know that are in that area's demographic spend their money in stores like these.

A custom clothing shop for men just outside River Oaks? -- Perfect. My friends that make 3 times the money I do live in the area and they buy all custom tailored clothing. A Zegna shop would be good too.

Bang & Olufsen just outside River Oaks? -- Where else are their customers going to come from?

I don't have an issue with any of the individual stores. My point is related to the overall mix of stores. My concern is that they are not creating an overall shopping experience and that is exactly what this kind of layout should drive. You have a couple of individual stores that may be a destination, but you don't have a mix of stores that encourage further shopping. You may come to the center to buy custom clothing, but are you then going to get your haircut and buy a new stereo while you're there?

On the plus side, I think that the restaurant mix is really good so far.

[Highway6]

On the plus side, I think that the restaurant mix is really good so far.

I don't think the developer knew what he wanted his tenant mix to be when they started that project. They have leased to way more restaurants than they initially planned for.
They had numerous issues with additional plumbing and waste needs... all made the more difficult because the slabs were prestressed, so they couldnt just drill all willy-nilly to add 2nd level plumbing.

[DrLan34]

They are switching phase II with phase III and it says they will break ground in January

http://swamplot.com/...est/2011-05-11/

[lockmat]

I don't see why this trend should not continue in the area. The model is succeeding, they ought to keep pushing; buying more land in the area and expanding.. I think I've said this before, but I hope this brings confidence to Oaks District and High Street.

[Jax]

Here are some photos from my walkthrough after happy hour at Chuy's last week. It is VERY nicely done. And it already feels like there are more people walking on the sidewalks on this part of Kirby than there were a few years ago. This is what urban development should be.

[ChrisPHous]

High End Sushi opening in West Ave

[Montrose1100]

2727 Has really grown on me. It's nice to see sexy condo towers being built outside of Uptown & Hermann Park. It makes a big impact on the skyline westward view from Downtown.

[ChrisPHous]

Went to Katsuya last night and it was jam packed, along with every other bar in the area. Its a pretty cool place and the food was great.

Any word on when the next phases of West Ave. will start being built?

[HOUSTONIAN (N-ATL)]

They began construction on Phase II yesterday (Friday 4/13). Permits are posted and plenty of heavy equipment was feverishly working when I visited a friend who lives in Phase 1. They already had a pretty good sized hole in the ground.

West Ave is an awesome development!

[kbates2]

Phase II or Phase III? Phase III would be the one that was planned to start first. West of the existing structure and north of Kipling.

[HOUSTONIAN (N-ATL)]

Yeah they've started on the fenced in section north of Kipling. The permit sign says Phase II so apparently the two phases were switched at some point as noted in an earlier post, besides it wouldn't make much sense to start Phase III before Phase II. IMO the very fact that any section would start "second" would make it phase "2" regardless of what it was initially titled LOL.

It doesn't appear any retail is included in this new phase, but I'm ok with that because they have plenty of retail in the 1st phase (almost 200,000 SQFT).

[lockmat]

The second phase of the West Ave development in River Oaks is a 288,389 s.f. mid-rise apartment project with 305 housing units. The eight-story, concrete structure with attached garage will have 640 parking spaces, 157 of which will be for retail use from Phase 1.The project finish will consist of mostly brick with accents of Arriscraft and terra-cotta. The design will feature an interior courtyard with swimming pool, outdoor kitchen and living room, lounge, theater, fitness center, dining/wine room and is estimated to complete June 2013.

Edited by lockmat, Tuesday, May 8, 2012 at 4:45 PM.