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gallerialiving

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  1. The Winhall units are by far the "steal" of the entire galleria/Uptown area. HOA fee's aren't that bad. The only way I'd sell is if I get bought out. Otherwise, I'm gonna rent, and gain the appreciation. For the one bedrooms HOA Fees start around 200 bucks (not bad considering BASIC cable, water, maintenance, and not having to mow grass - lol). You made a great point: the value comes in the appreciation instead of the rental cash flow margin. I once rented my 1 BR unit to a corporation for 1700 a month! So profits are possible depending on a little opportunity. But for the most part, and more realistically, I think 100 bucks would be about right. I was wondering what happed to the chinese restaurant. I thought it was for road expansion as well, but seems like that plan flopped. So it's only serving as a parking lot now? was hoping that they were gonna prepare to knock down Brucette's and build something 'cool' on that corner. But back to the original thread post: 1111 Post Oak is a great and large plot of land. I am excited that the city is making intentional efforts to make Post Oak Blvd an amazing place to live. Not quite Michigan Ave (Chicago), but hey, it'll do! Now if they would only buy out the darn Winhall so I can make a huge profit!
  2. Yes, I think within a matter of 5 years Winhall may get bought out. Im not certain how to evaluate which is the better property to buyout: Inverness or Winhall. inverness seems to be high value property due to its proximity to Uptown Park. But I have been inside of them and they are not the best looking living spaces. Winhall is an AMAZING property. I actually own a unit there. The interirors of most of them are wonderful (in 2000 they offered rehab units with modern amenities such as wood floors, Stainless appliances, granite, etc). I was told the McDonalds between winhall and 1111 Post Oak isnt going to "renew its lease" (whatever that really means) and they are soon to go as well. The buyouts for owners of winhall/invervess properties could ptentially be very lucrative. There has been a lot of buzz about a winhall buyout. But if you get one for investment, beware of the HOA fees which will slice into your profits. Can't rent too high or potential tenants can simply go across the street to 1200 post oak or lofts on post oak (newer buildings and more modern amenities). In closing, i think both winhall and inverness are great buys at the moment for anyone who has a little patience. The way they are re-building on post oak blvd. is incredible. Cosmopolitan, Pavillion (coming soon), Eatzi's strip (Wulfe and Co), and the one coming to the corner of Post Oak and 610 (across from uptown park). Im very excited to see what the future has for the small strip on post oak between san felipe and 610. by the way, what's coming to the corner of post oak/san felipe where the chinese restaurant used to be?
  3. found this on the net. seems that "Alexan Post Oak" apartments will occupy the former 1111 Post Oak Blvd spot. http://seattle.bizjournals.com/seattle/oth...18400%5E1322520 Im still more interested in the Winhall Condo's (on the other side of the McDonalds) and the dreadful Inverness (corner of Post Oak and Uptown Blvd). I can't see these places lasting for more than 4 years until they are bought out.
  4. Original Timmy Chan...Dont think Wheeler St. will be renovated? You may want to think again. Since I've posted this comment, I've read a lot of information about revitalizing 3rd ward. One of the most shocking things read was the possible merger of TSU and UofH. This may take some time, but what a awesome thing for the community. third ward is def. on the upswing. The Museum District side of 288 is on fire. building all around. It seems to be a matter of time until the construction moves further down 288 to the rougher areas. And yes, gentrification is a huge issue. It's a sore spot for lower income african americans who feel that developers will be unsympathetic to taking over their neighborhood and moving them out. The balance is very delicate. IF the city can strike a balance of lower income homes blended with higher income homes, it could work. now THAT'S urban planning. check out the quote below from www.chron.com: "Many people who have lived in the Third Ward for 40 to 50 years will not be able to stay. That's part of the price an area pays for being centrally located," Carter said. Carter and Mixon expect Third Ward to continue to grow, and both say increased displacement will be part of the process. Now that ive done a little more research, I couldnt agree with you more about now is the time to jump into third ward. the 5 or 10 year payoff will beat the stock market anyday. Especially if you find a deal on a "fixer-upper". The homes in the area def need some TLC, but for the large yard and proximity to downtown, there is no comparison for the price. (especially when compared to similar size homes of Bellaire and West U). In a perfect world, I would love to see African Americnas reinvest their resources into the community and make it beautiful by renovation and home ownership. But, until that happens, gentrification it will be.
  5. I've been fascinated by the 3rd Ward/Midtown area. I notice that "Midtown" has come along quite nicely, and the "3rd Ward" is slowly but surely becoming a "hot" area. I drove the 3rd Ward area a few days ago and noticed that there are huge homes all throughout. One street in particular caught my attention: Wheeler (@ the intersection of 288). On one side of Wheeler @ 288 there are newer townhomes. On the opposite of the freeway on Wheeler it is definitely "the hood". However, it's obvious that the proximity to downtown can possibly make this area very valuable. Does anyone know if Wheeler avenue is on the "to-do" list for Houston Urban planners to rennovate? I wouldnt mind purchasing a piece of property, but I'm afraid to do so. If the city is planning to revise the area, I would love purchase this year and be ahead of the curve. the gain could be tremendous. If Wheeler St. is not on the Houston Urban planning "to do" list, then of course, there would be no interest in purchasing. Anyone have any comments? I would love to gain all the feedback I can get from others who may have more info about this perculiar area. Thanks to all in advance!
  6. They are going to build the momo-rail in the galleria area. I think down post oak. I was able to view some of the mono-rails future plans on the main Houston Metro site. Pretty Interesting. Montrose1100: You are right. This thread has nothing to do with bus stops. It was an arbotrary comment off subject posted by one of the viewers. Glad we got back on track to the subject at hand! NewMND: I would think that McDonalds has limited time as well. The "Boulevard Place" project among others along post oak will have more than enough space to house a McDonalds as a tenant (i.e Commercial building with retail/restaurant space on lower levels). If the mcDonalds is next to go, then it would make sense that Wihnall (immeidately behind McDonalds on Four Oaks Place/Garrettson Lane) would be the first of the older condos to go as well. I think that offering the winhall residents a "reasonable offer" will be enough to have them give up the place. I checked them out. They are not bad. Winhall is def. the best of the three. They go for anywhere between 90 - 160K (roughly based on 1BR and 2BR prices). Extremely affordable for anywhere in Houston, particualry Post Oak where 400K prices and up are the norm. Overall, Im excited to see the results of post oak over the next 5 - 10 years. i really think that the Uptown Park area will have some tricks up it's sleeve and will follow suit with the other potential developments. I still see Winhall, Inverness, and 111 Post Oak lots as residential, but it would be hard to convince me that they will not be torn down for something newer and bigger.
  7. the new bus stops along Post aok are very nice. hopefully that is another small step houston can continue to make in order to change the culter of the city to a more pedestrian friendly one. nice job uptown. I would assume that once Boulevard Place gets underway (anyone know when?) as well as all the other places along post oak, high dollar residents who move in will not be pleased with the older complexes near Uptown Park. I would say that in 5-10 years the the three places mentioned in the beginning of the thread will be torn down. But here is the question: many units in those complexes are owned by private indivduals. so how does that work? they (the home owners) would have to get a huge payoff, right? maybe i need to buy a few! lol
  8. I would agree that the design at Uptown is a nice concept, but certainly uninspiring. If the shopping center was more enclosed without the parking lots I think it would be a better design. But i will say that overall U.P. is a nice place and people seem to frequent the "hot spots" (like Sushi, Belvedere, and Starbucks). Montebello and Villa D'Estes are also "respectable" buildings, but certainly not striking. Seems as though the approach for uptown park was very "classic conservatism". I can accept that. The Great Hizzy: I agree that some of the older buildings (i.e. Winhall which was built in the 60's) has lots of character. But the Inverness and 1111 Post Oak are just TERRIBLE. 1111 Post Oak HAS TO GO!! With 1200 Post Oak, Montebello, Cosmopolitan, Dominion, etc. it just seems as though Winhall, Inverness, and 1111 Post Oak are on borrowed time. bcnet: Does the great room only host Landry's functions? The place seems cool and I would look forward to a "hip" happy hour.
  9. It is clear by now that many developers are focusing rennovating the strip of Post Oak from Westheimer to San Felipe. What about the areas between San Felipe and 610 (towards uptown Park?) The only building that fits the neighborhood is 1200 Post Oak Blvd. (apt. complex across from the McDonalds.) Everything else is old (i.e., Inverness and Winhall condos and dreadful 111 Post Oak Apts.). Those developments stick out like a sore thumb when looking at the beuaty and architecture of Uptown Park, Montebello, Villa D'este, and 1200 Post Oak, etc). Are there any plans to do massive reconstruction for those areas to better align with the rest of the proposed projects on Post Oak Blvd? Lastly, what is the "Great Room"? (the "tent" building by the Bently dealership)
  10. thanks for the info so far. I understand that developers look less for how a building fits within a neighborhood. overall, i am concerned that if i purchase a unit in either of these places, i would have to move sooner than I may be ready to due to a buy out. if you look at the new shopping center being built next to montebello, it sure does seem like these older condo units have limited time left, moreso the one called the Inverness. but again, i am relatively new here and I have no solid proof of anything. as far as i know, these units may be here for another 20 years. hard to imagine that though since they are sandwiched between homes that cost upwards of 500K. the older condos in question go for about 90K for a 1BR. no matter where you go the M.O. is the same....new development equals big money.....new and better gets built, and old developments get torn down. at the speed i have witnessed in the area (seems lik every other week something is being built) i may have an answer sooner than i think! i still would like some concrete evidence though.... keep the responses coming!
  11. I am relatively new to Houston, but I have noticed the beauty of the Uptown/Galleria area. This seems to be an area that everyone wants to get to, but the price of rentals and ownerships seperate the haves from the have nots. In light of all the new developments in the area (seemingly high rises, with the exception of the Manhattan to name one) I have noticed several condos in the area that do not "fit": 1. The Inverness - at the corner of Post Oak and Uptown Blvd 2. The Winhall - Corner of Post Oak and Four Oaks Place (by Willie G's restaurant) 3. The ugliest one of them all I do not know the name to. They rest on Post Oak Blvd. next to McDonalds near Post Oak and 610 loop. Of the three, the Winhall seems to be the nicest to live. Very quaint and they have been rennovated nicely. The other two seem to be in terrible condition, but may have the highest developmental value for demo/reconstruction due to lot size. My question is such: will these properties be torn down to "fit" the look and feel of the neigborhood? If so, what happens to the current home owners? Buy outs? Does anyone have any credible insight to the direction this section of Post Oak is heading? I am looking to purchase and the range of these condos are tremendously less than others, but I am concerned about the value and how long the will exist.
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