txtrader
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Everything posted by txtrader
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Cool aerial pictures of 2727 Kirby. One shot gives you a good view of West ave. http://www.2727kirby.com/Tour_2727Kirby/Photos2.aspx
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In 30 years with inflation 15k a month maybe the norm, and 2727 Kirby will be selling for $4000 per foot.
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I believe there are more than 13 units available. They only post a few of the listings on HAR representing different floor plans. There is a lot of rumor and speculation involving this property, I don't know what to believe.
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If you look at who was doing the funding, my guess is Fremont is having liquidity issues due to their exposure to sub prime lending, and they found some way to reneg on the transaction. Stock symbol FMT
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So at what price per square foot should this building be sold for, and can you still build a quality product and leave some profit for the developers.
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I have heard they are requesting a variance which is causing a short delay
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I don't think a number of the posters on the board can relate to the person who's buying this kind of property. This building is offering location, security, excusivity and service. Money is not the issue. If you look at the Kirby district 5 years from now with the new Gables property, the planned esplanade for Kirby drive, along with other upscale developments, it probably be one of the most prestigious places to live in Houston. People who join River Oaks Country Club or other high end clubs aren't deterred by the dues even though they could easily play golf and eat more cheaply somewhere else. They want exclusivity, and service. Alot of these buyers are empty nesters who are going to shed their large homes. As a result they will get rid of the lawn service, pool service reduce there utility costs and so on. They will be gaining a concierge service, gym, resort pool etc. I don't think the hoa is an issue. As far a the cost per square foot, I think Houston is ready.
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And there is a construction trailer at the site
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HD is right funding has been approved, and the start date is in early to mid August.
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I heard they raised the price on new sales to 500 per foot, and earnest money contracts are going out in the mail this week.
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hey groovy cool pictures
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The 47% figure came from a letter written to the prospective buyers by the sales staff updating the progress.
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It seems there are skeptics. I suppose thats easy after all the cancelled deals. Most recent report is 47% presold. With a mid april start date. Contracts are close to going out to collect the rest of the down payment. The skeptics will know soon if 2727 Kirby will be going up. If it does I believe it will be the best high rise in Houston. I'm optomistic it will