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lwood

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Everything posted by lwood

  1. Herrin Lofts is now open on Sundays and some weekday hours. It is not what I had hoped for.
  2. I understand the desire for a high rise instead of a house. It's a personal choice, but I would prefer a unit on the seawall instead of on the sand. You have probably discovered that the buildings constructed in the 1980's in Galveston are half the price of the new buildings. Check out The Breakers and By The Sea. There are several buildings being converted in the Strand area. Pricing seems to be higher than the above two buildings but the idea of being able to walk to restaurants and bars has it's benefits.
  3. Projects like this are a major boost for our home town. We should celebrate the ones that move forward and make Houston a better place for all of us. It is a loss we all share when the projects don't move forward.
  4. A contact at the Houston Pavilions web site directed me to Wood Partners for information on the condos. This is the reply I received from them: Thank you for your call. At this time the residential is planned as rental apartments and not condominiums. The project will be called Alta Pavilions and will have 218 units in two residential towers - 13-stories and 15 stories. Each tower will have its own swimming pool, fitness center, outdoor fireplace, grills, and clubroom. The units will have loft finishes with hardwood floors in the living room and kitchen and tile in the bathrooms. All appliances will be stainless steel and gas will be provided for the cook tops.
  5. Perry Homes works it this way: You get a letter from a Realtor friend stating that they will forfeit their portion of the commission to give to the buyer. This covers the seller if other Realtors get unhappy about the arrangement.
  6. The listing agent is the son of the developer.
  7. I agree that in the Houston market I would not pay the developer's prices. Resales will be a lot less. Check har.com for current prices at The Mark as an example. Some of the older buildings are definitely seeing price increases. Many of the two bedroom units at the Spries have doubled in the last 10 years. That's after they hit bottom during the 1980's. For some, investment is not the primary goal as it would be with me. Their income level allows that.
  8. The Rice Design Alliance publishes a magazine called Cite (city). About two issues back they had a great story about the great days of Westbury Square. It's amazing to see how a neighborhood can go through transitions is such a relatively short time.
  9. Wow. This week's HBJ, page 6B. "600 room hotel for sale for $10 million. Great location, stunning skyline views, one block from light rail and the best of downtown and midtown all add up to a unique development opportunity" Maharishi World Peace Fund . I guess Landco is out.
  10. Good point. I think I saw an ad in last Sunday's Chronicle for units at The Mark. The ad appeared to be by the developer. If you plan on being in a building for a long time resale is not that important. If you think there is a possibility you may sell in a few years resale will gain importance over other factors. Shirley Sanders is a local Realtor who publishes a chart on what is available in each high rise building and how many have sold over recent years. This will tell you how many months supply is currently on the market. If 10 units are currently for sale and the prior two years have had sales of 5 each year, you have a two year supply on the market. That would be tough is you are trying to sell.
  11. I'm assuming the developer still has 38 units plus those listed on har.com as resales. If you work in the Galleria it would be great but otherwise the traffic would be tough. 3525 Sage and The Bristol next door don't help. It's just my opinion but I think the building is not architecturally attractive. Have you considered 5000 Montrose or The Spires? These are older buildings (1980's) but resales are strong. With 5000 Montrose you have a great walking neighborhood. For more of a loft feel try Il Palazzio. I would be interested in which building you choose and why. Please keep us posted!
  12. After 9/11 I heard that the observation floor was closed to the public. I haven't heard if it has reopened. Go to the building and check it out. Even if you can't go to that floor the building has a great interior. The last time I was there Knoll had a showroom on the first floor. That's a great place to see the modern classics in furniture.
  13. Some months ago the Houston Business Journal stated that this building was purchased by Landco, a Colorado company. I hope the project goes through. Most opinions here seem to be unfavorable but I would definitely consider living there.
  14. Great question. Will the market accept 8-ft. ceilings? 3525 Sage has just come on the market and it also has 8-ft. ceilings. If the Houston House units are priced right I guess the ceiling height may not matter. It will be interesting to see if Houston House and Raiders Lofts come on the market at all and if so, at what price.
  15. I agree that it's hard to see spending $200,000 for a one bedroom, stick construction condo but they are selling. We visited The Vistas recently and the sales office was crowded with buyers. Other projects on Jackson Hill and the Waugh/West Gray area are selling very well too. As my dear old dad was fond of saying, it's worth what you can get for it.
  16. The Kirby Mansion was built by the Kirby family of Kirby Lumber (and Kirby Drive). If I remember correctly, in the 1970 boom days it was purchased by a small independent oil company for their offices saving it from demolition. I don't know who owns it now. It's a great piece of Houston history even if it's in a tough location.
  17. Shirleysanders.com publishes statistics on high rise units on the market and what has sold in each building. Excellent reference information on that market. You can see how many sold in a particular building last year as compared to how many are currently on the market in that building. This will give you an estimate of how many months supply is available.
  18. 1400 Hermann is showing it's age and the maintenance fee includes electricity (high maintenance), the Parklane is 90% rental units, Parc IV and Parc V aren't too classy and the maintenance fee includes electricity. That leaves 5000 Montrose. I really like the building. It's in a walking neighborhood. It has a great pool area on the 6th? floor. I think maintenance is running at 55 cents/sq. ft. One of the papers recently stated that of the two Mosaic towers only one had received financing approval. That was going to be the rental tower. The article stated the "for sale" tower was not moving forward yet. That's why the sales trailer is gone.
  19. The Spires is an outstanding building. I don't think a substantial building constructed in the 1980's is too old. Most high rise, including this one, update the lobby and other common areas every few years. This one has. If you visit the building you will be impressed. One bedrooms are around 900 sq. ft., small two bedrooms are 1,210 sq. ft. The east and west ends of the building are the largest units. I think maintenance is running about 55 cents per square foot for this full service building. The Mark has so many resale units on the market already. Check out har.com. Resales are not doing well. The Spires is a much classier feeling building. The Mosaic has received financing approval for one building only, all rental units. Visit it. You'll like it.
  20. I need to correct my previous post. These are listed on har.com.
  21. We do need to give Randall credit for finding the high rise market that others cannot find. This building and Emerald By The Sea in Galveston are successful. While the price range and high rise lifestyle may not be for me it obviously is right for others.
  22. This project first came up 2 to 2.5 years ago. At the time it was listed on har.com but quietly went away. Ironically, it would probably have a better chance now because of the new construction going just off of north Main.
  23. Welcome to Houston. The only thing I would be aware of are any areas that may flood due to Braes Bayou. The Seller's Disclosure form must mention any previous problems. It's a beautiful area. The Mosaic high rise on Almeda just received financing approval for the first tower. I think this area is on the verge of a come back. Greed if it's their money. Capitalism if it's yours.
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