db650

I walked by the site a few weeks ago. It looks like there has been no activity there. I wonder if this one is as dead?

You're also paying for a share of common amenities. Nonetheless, on a per square foot basis 600 a square foot is more than most Ricer Oaks condos and even the new, River Oaks Highrise.

How can you allow only some owners to rent their units?

Any update on this one? Is it going to happen?

You can really see how much of a bigger footprint the Wilshire will have compared to Arabella.

Unbelievable--the planning commission denied the variance request for a smaller setback. If you watch the film, it looked like there was one strong commissioner against it who lived in the neighborhood, then the others looked at each other and gradually put up their hands following each other to deny the variance request. The current residents argued the building is out of character with the neighborhood which is crazy. The 30+ Huntington is around the corner. The six story Chateau 10 is around the other corner, not to mention to 17 story San Felipe Place office tower. The applicant stated the project will continue but probably with less parking. I wish they could build even higher.

This is a building that might have a hard time competing with other new construction. The location is less urban than the Arabella and the Willshire. It also only has 9 foot ceilings and the floor plans are much less compelling. I don't know the recent sales data but I think it was just short of 20% in mid August.

Another two week deferral at the Planning Commission. 

Variance request deferred for two weeks. Three neighbors spoke out against the variance request, citing a variety of issues including being out of character with other new developments in the area (e.g., Winfield Gate which is only 4 stories). The funniest moment came when a neighbor cited the applicant's petition that indicated one odd benefit of the variance request: it would better connect pedestrians to the development, allowing them to look into the building. The neighbor speculated what this might mean in terms of bathrooms. 

http://www.bizjournals.com/houston/news/2015/10/12/new-condominium-project-to-rise-in-river-oaks.html

This article suggests it's 8 stories. The rendering shows six plus one level of parking. I think there might be a level of parking underground as well.

Another variance request hearing Oct 15

What the marketing campaign is overlooking in its rent comparison is that a condo comes with a mortgage of $2,800 PLUS property taxes and any other additional costs (maintenance fees, insurance, etc.). Rent payments  is a simplified number.

http://www.houstonarchitecture.com/haif/topic/31284-marlowe-20-floors-downtown-condo-tower/page-8

Math actually includes property tax and HOA.

Planning Commission meets on October 1st to consider variance request for reduced building line. Proposed land use is for condos. Any other details?

They're also different markets. My sense is Arabella gets foreign buyers attracted to a more prestigious location. Marlowe is clearly going after a younger, more local and less affluent demographic.

20 % sold. Doesn't seem terribly high give the amount of time.

Website hanoversouthampton.com is also fully functional, including pricing. It looks like units are about 2.60ish a square foot.

Any idea about sales of this building? If I am remembering correctly, this building will be ready half a year before Arabella and the Wilshire.

Any speculation on whether this might be rentals or condos? According to HCAD, the land the Georgian Apartments sit on is almost 150,000 square feet. This seems like a lot of land for a high-rise. Perhaps these will be town homes? 

My 2¢ , here's the rundown

-Interesting idea, I'm eager to see how it well (or not well) it ends up working for the 10 tenants

-If it fails it could be resold as an awesome frat house... backup plan

-Is overpriced an understatement? Despite being only 10 units... as a small midrise it seems like there should at least be a small pool and small workout facility. To say I have a million dollar home I'd like to say I AT LEAST have these things too... and they shouldn't affect the maintenance fee much.

-With a card or coded parking garage, and elevator into your unit, and alarm system I agree with KinkaidAlum a concierge or security guard is overkill. The only way this place would get a guard is if something actually happened first to warrant one for the future.

-Flat Screen in Master Bath... ok... home speaker system... why bother... Warning: Side Rant in 3... 2...1... yea, I have a 5.1 sound system, and every highrise and apartment I've ever had it in I can never use it to even half its potential without getting numerous complaints from neighbors. Units like this can be sound proofed properly, so you can't hear much noise, or feel the bass from next door, or for that matter hear when the neighbor upstairs flushes their toilet... but they never do it.

Yes, I agree. But I do like the general trend of low maint properties in the inner loop, such as Winfield Gate which also has low maint fees and takes care of external maint. Hopefully, this is a trend as households increasingly have two professionals with less time for home upkeep.

I think the idea of low maint living in this location is great. However, I don't get the pricing at high 700k to 1M+. This is about twice the price of a comparable townhome. I get that these are one stories, but you also have neighbors above and below you, less land etc. The building offers no other ammenties. What am I missing here? While a highrise has higher HOAs, the units are cheaper with more services.