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KinkaidAlum

55 & 57 Briar Hollow (formerly The Monaco)

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Just heard that the Monaco Condos are a no-go. Apparently, the price points were too high for the typical Houstonian who wants more space than a hi-rise can offer!

I have heard that they still plan on building a hi-rise on that site but they will revamp the entire project, drop many of the amenities, and start with lower price points and fewer units (thus, most likely a much smaller building). Was told this will be about 3 years away from actually happening though.

new_monaco.jpg

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In the high-rise condo race, the Orion and the Redstone jumped into the lead with better locations and pre-sales. Those projects are a go... but I'm afraid the depth of the luxury condo market is only so deep... so projects like the Monaco (and others) just won't happen.

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BUMMER, indeed! :(

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Perhaps this will teach their moronic marketers that they should build this in downtown or midtown instead.

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that looks like post oak lane by woodway and san felipe.

What are these other two high-rises you speak of?

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The Monaco will be built. I've gotten this response from the sales office.

"Thank you for your e-mail.

To set the record straight, the Monaco will be constructed. The Monaco had 'great' interest, at certain levels. We had over 22 reservations/contracts. Which was, in our opinion, was fair, but too slow a pace to make the building attractive (enough) compared to the advertising expense. The interest, and sales, seemed to be closer to the $500,000 range, versus the $900,000 average we were hoping for. In short, Houston prefers high-rise living under the 1mm price point. We are in the process of redesigning the building and repricing it. The location is fantastic, and we will proceed with a different price matrix and unit mix. Announcements will be made shortly.

As a point of interest, the 22 customers are thrilled! Luckily! We expect an affordable/luxury/high-rise on Briar Hollow to fare quite well, what do you think? "

Tom Cervone

Sales Director

innerLoopCondos.com

55 Briar Hollow Ln.

Houston, Texas 77027

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WOw, the floorplans are great. I especially loved the Coral 2 with its 1700+ft terrace with greenery. Would be awesome if that were an upper floor. Rooftop landscaped terraces are so awesome. It is the ONLY way I would live in a high rise in Houston, and I have been looking for some time now.

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These are the same people (InnerLoopCondos.com) that are marketing The Vistas in Midtown...Tom told me several weeks ago that interest wasn't strong enough for the price point....

What does that mean for the condos being built where River Cafe is/was ? $700K seems like alot for Montrose ?

Mark

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I aggree with u080570,

I find that the price points of a lot of planned mid-rise and high-rise development is just too high. I would love to live 20+ floors up in a highrise, but i don't want to pay $500K or higher. I'd rather get a townhome for $200K or $250K.

They can shrink some of those floorplans down a bit and make them more reasonable. I sure they can get a lot of interested buyers if the condos sold for the about the same as most townhomes.

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I am not familiar with the build costs of a high-rise, but I would think that the per square footage price to BUILD would DROP as it is spread over so many units. Building 10k sqft for a single family would inherently be more expensive than being able to spread it over 40 units in the same foot print. But that is merely my assumption. I would love to work with high/mid-rises in the future though. Seems to be a natural progression for me.

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I am not familiar with the build costs of a high-rise, but I would think that the per square footage price to BUILD would DROP as it is spread over so many units. Building 10k sqft for a single family would inherently be more expensive than being able to spread it over 40 units in the same foot print. But that is merely my assumption. I would love to work with high/mid-rises in the future though. Seems to be a natural progression for me.

It does spread cost the more square feet you build, however, it only spreads the fixed costs. For example, the cost of the foundation may be spread across the number of units. However, you have the same variable costs when you build livable space, no matter how many you build.

Additionally, Highrise construction, due to code requirements, is at least twice as expensive as single family....

TNJ

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Also, in the US the rules regarding safety of construction workers in these construction projects along with the pay (which isn't that bad) increases the cost. In Asia where skyscrapers are being built left and right, the labor for construction is also fairly cheap.

Also, in high-rise construction the skills needed aren't usually filled by immagrant workers that take low pay as in single family construction. This also increased cost also.

Also know that it is not uncommon for a high-rise to devleper to go through several rounds of reservations for units before construction. As we see with the Shamrock Tower where they achieved a 70% reservation which is fairly good and promises well for the tower. The Monaco had a high pricepoint and realized they didn't attract or the market wasn't there for it. hopefully when they adjust the floorplans and units counts along with the prices they will get a higher reservation rate. The website does have more floorplans for the tower now. prior to the new floorplans, they only had 4 per floor.

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I am new to this site and I have noticed a lot of talk about

Monaco

Riva

Orion

Shamrock

Kirby Condos

Redstone

I know where the Shamrock, Orion, and Redstone are going up, but where are the other three to be located.

With that said, they are building a new (smaller scale) condo building right behind Post Oak Central on McCue. Anyone know the price points on that building.

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not sure if you are taking about this but 2400 mccue is now condos.  2400 McCue Website  it was built as high-end apartments and recently converted.

Nope, I am talking about a 20 or so story condo complex that is going up right across the street from 2400 McCue. I will try and get a name next time I drive by.

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Nope,  I am talking about a 20 or so story condo complex that is going up right across the street from 2400 McCue.    I will try and get a name next time I drive by.

Is it already built or is it about to start construction?

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Is it already built or is it about to start construction?

It has been under construction for nearly 18 months. It is almost completed. If you are driving down Post Oak from San Felipe you can see it right behind Post Oak Central (Stewart Title building). It is probably 20-25 stories and looks like the Montbello.

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that's the dominion post oak and it's apartments (as of now).  they had planned on building condos but after 9/11 and lack of presales, they decided to go rental.

for additional info:  Chronicle Story and Previous Thread and Website

Thanks for the feedback. I will check the info you submitted.

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It has been under construction for nearly 18 months.  It is almost completed.  If you are driving down Post Oak from San Felipe you can see it right behind Post Oak Central (Stewart Title building).    It is probably 20-25 stories and looks like the Montbello.

OK, thats what I thought it was but I wasn't sure if thats what it was. By the way it is 31 stories. I think that is what got me confused. Here is some more info

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Thanks for showing me the original thread. I did a search for Monaco before posting the topic, but no info was found. But then I only searched the Going Up forum. Thanks again. Please do merge.

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Guest danax
Thanks for showing me the original thread. I did a search for Monaco before posting the topic, but no info was found. But then I only searched the Going Up forum. Thanks again. Please do merge.

Feito (done). Welcome aboard Rube88.

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55 & 57 Briar Hollow Lane is up for sale by Surge Homes. The seller (formerly named Inner Loop Condos) planned to build The Monaco here. Someone will take advantage of the unobstructed views of Downtown.

 

Looking at previous posts, I wonder why Surge Homes has decided to sell. Their ~$900,000 price points for The Monaco would work this time around.

 

a4754a575f144b37ab5de29d60e1bc79.jpg

 

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Archive from the early 80s called "The Sutherland".  Found in this thread below posted by @ChannelTwoNews

 

Quote

At any rate, here's a fairly obscure project from the early 80s called "The Sutherland", which was to have been a 30 story condo tower located at 55 Briar Hollow Lane. What's interesting is that the only traces I could ever find of it was this ad from an October 1981 issue of the Houston Post. I couldn't track down any articles on the project or it's developer(s) throughout the 80s, based on the archives I was using.

 

ilJ61CK.jpg

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