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db650

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Posts posted by db650

  1. On 8/19/2020 at 1:34 PM, Paco Jones said:

    Per a VP at GT Leach...

     

    "Still early on 3723… The Paramount.  It’s currently still in the marketing phase.  It currently has zero (0) sales, so it might be a while." 

    I read 3 sales backed out among COVID uncertainty.


    I agree this one will be a long wait. And I’m sure there will be the inevitable design changes RD always seems to make. I actually like the look of this building, but then again I also liked the original Arabella plan until it got its “makeover.”

  2. 10 hours ago, astrohip said:

    They're in! CO was issued Thursday, and they closed Friday. Already started moving stuff in, although they don't expect to start spending the night for a couple more days.

     

    So far, she's happy. Said it was "brighter and more spacious than I expected". New condo owners are always a little anxious, often moving from 5,000+sqft McMansions, into smaller condos. But it's the rare new condo owner who doesn't come to love it before long. 

    That’s so exciting! I hope they enjoy their new place and please send any pictures.

    • Like 1
  3. On 8/1/2020 at 10:37 AM, astrohip said:

    My friend is still being told "end of August". She's on a lower floor, and was told once the entire floor gets the OK from COH, she can close.

     

    And that pole... I drove by and took a look. It's set in asphalt, so they clearly are waiting for it to be moved, so they can concrete the patch.

    You were right! I saw Centerpoint out on Sunday moving the pole. I was driving so I couldn't snap a picture. 

    • Like 6
  4. 3 hours ago, astrohip said:

    She was told the CO for her floor is due by the end of this coming week. They guaranteed her she would be able to move no later than Aug 25. No idea what a guarantee involves.

    It would be neat if she was the first to move in and have whole place to herself.

    • Like 2
  5. I hope they will move that utility pole. Looks like a big safety hazard. Although, you would think if they were going to move the pole, they would’ve done so before pouring the ramp.

    9DEB642A-B6A1-4DE3-BC40-3A52C2E34763.jpeg

    • Like 8
    • Confused 1
  6. 15 minutes ago, astrohip said:

    A friend who bought a unit in The Revere was told their unit should be finished by late June. She wasn't clear if anyone else had started moving in, or if that was just her unit, or whether that's the entire project. She's not a sophisticated new const buyer.

     

    They bought about a year ago.

    Would love pictures from her. Usually buildings close from bottom to top. What floor is she on?

    • Like 2
  7. 1 hour ago, LBC2HTX said:

    Can’t really compare price per sqft for units in a 7 story mid-rise to a 17 story high rise. Higher floors always command a higher price.

    Here’s a unit on fourth floor for $686 per square foot in The River Oaks.

     

    https://www.har.com/homedetail/3433-westheimer-406/13596169

     

    and here’s a unit on the fourth floor at The Moderne for $451 per square foot.


    https://www.har.com/homedetail/2406-tangley-400/13781462


    The RO is more than 50 percent expensive per square foot.

     

    My point is The Moderne buyer is not the same as The River Oaks buyer. True luxurious buildings are not siphoning off demand for this project. It is probably nice town homes that are competing.

  8. 2 minutes ago, LBC2HTX said:

    This can be summed up easily. Why pay $1m for a condo here when you can have better views, amenities, more seclusion, and proximity to luxury establishments at places like The RO on Westheimer, The Wilshire/Arabella on Westcreek, Higland Tower on Bancroft, or any of the other condo buildings near RO or in Uptown? Rice village caters to university students and middle class shoppers, and has very little night life and high-end restaurants/shopping that prospective buyers in the price range are turned on to. 

    The RO and the Wiltshire are something like 40 percent more money per square foot. Arabella is a Randall Davis building which means it’s already depreciated substantially so you can get a less expensive unit there but still more than Moderne.

  9. Starting at about 350 a square foot, these are competitively priced for a mid-rise in this location with these finishes. HOAs at under .40 per square foot is also cheap. The problem, in my opinion, is the very small size of the building. It makes it impossible to support any amenities and adds a lot of risk. One bad neighbor tanks the building. I agree about the poorly designed parking. It seems like this one is destined to fold. Interestingly, the other condo building in the Village, The Robinhood, has struggled for much of its existence. The Village seems like a prime spot for these developments but they don’t seem to do well. Randall Davis wanted to put up a Chateau Ten midrise just behind Chocolate Bar but that project was scrapped. With all of the restaurants, shops, etc, I’m surprised this location is not  working out too well. 

    • Like 1
  10. It's typical for new construction to have individually metered electric but common gas and hot water. Even in buildings with chillers, the fan's to distribute the air to a unit are metered in each unit. Older buildings with all utilities included such as the Willowick nearby the Giorgetti have HOAs nearing $1.00 per square foot.

    • Like 1
  11. I agree it makes sense in theory, but in practice, these buildings are too expensive so they are niche markets. I love the Giorgetti building nearby the Westmore, but it's not selling very well. Granted, the Westmore or priced slightly less expensive, and with smaller units. We will see how the market speaks.  

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