ClintD Posted September 28, 2007 Share Posted September 28, 2007 Hi All, I'm new to the forum and was just looking for insight on Franklin Lofts. I've been through one of their open-house events and was pretty impressed overall. The building is beautiful and has a lot of pros in my mind. I'm considering trying to buy there but just wanted some feedback before I start making any serious decisions. This is what I've come up with so far: Edit: The building was originally the First National Bank at 201 Main Street. Pros: 1.) Location 2.) (Relatively) Low HOA fees 3.) Historic tax exemption 4.) Spacious floorplans/hardwood floors 5.) Parking, etc. Cons: 1.) Good Value?? 2.) Cheap looking cabinets, kitchen area I keep finding myself going back and forth so any opionions or comments would be greatly appreciated. Thanks! 1 Quote Link to comment Share on other sites More sharing options...
jdbaker Posted September 28, 2007 Share Posted September 28, 2007 (edited) Hi All,I'm new to the forum and was just looking for insight on Franklin Lofts. I've been through one of their open-house events and was pretty impressed overall. The building is beautiful and has a lot of pros in my mind. I'm considering trying to buy there but just wanted some feedback before I start making any serious decisions. This is what I've come up with so far:Pros:1.) Location2.) (Relatively) Low HOA fees3.) Historic tax exemption4.) Spacious floorplans/hardwood floors5.) Parking, etc.Cons:1.) Good Value??2.) Cheap looking cabinets, kitchen areaI keep finding myself going back and forth so any opionions or comments would be greatly appreciated.Thanks!It's a quality building, however, my understanding is that a significant portion of the units are owned a by a single investment group (e.g. not the developer), or possibly a bank at this point as I've heard rumors that this group was in foreclosure. Edited September 28, 2007 by jdbaker Quote Link to comment Share on other sites More sharing options...
Urbannomad Posted September 28, 2007 Share Posted September 28, 2007 It looks like Franklin Lofts LTD Partnership is the only large owner, this may or may not be the investment group you are referring to, or it may be the developer, but I'm sure in 5 minutes you could track down some info on them if you are interested in what's going on.Check out:http://www.hcad.org/records/real.asp?search=addrPut in "201 Main" and then click "View More" on the results page. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted September 28, 2007 Share Posted September 28, 2007 I believe the historic tax exemption is set to end in the next few years, so some research here would be in order should you decide to pursue a unit in Franklin. Quote Link to comment Share on other sites More sharing options...
ClintD Posted September 30, 2007 Author Share Posted September 30, 2007 I went through an open house at Franklin Lofts last year and the woman who was showing us around said that there were 11 or 12 years left on the historic tax exemption. I figure that 10-11 years of not paying $6,000+ a year sounds good. I also looked up who the owners of the units are and it looks like Franklin Limited Partners own about 10-12 units. What I'm wondering is if they go under, what would that potentially mean for me? Quote Link to comment Share on other sites More sharing options...
jdbaker Posted September 30, 2007 Share Posted September 30, 2007 I went through an open house at Franklin Lofts last year and the woman who was showing us around said that there were 11 or 12 years left on the historic tax exemption. I figure that 10-11 years of not paying $6,000+ a year sounds good. I also looked up who the owners of the units are and it looks like Franklin Limited Partners own about 10-12 units. What I'm wondering is if they go under, what would that potentially mean for me?The Historic tax exemption only exempts you from city taxes. This means that you still pay taxes to Harris County, HISD, and various other taxing entities. In other words, the Historic exemption will reduce your taxes by approximately 20%. Quote Link to comment Share on other sites More sharing options...
Urbannomad Posted September 30, 2007 Share Posted September 30, 2007 I also looked up who the owners of the units are and it looks like Franklin Limited Partners own about 10-12 units. What I'm wondering is if they go under, what would that potentially mean for me?If they went under then the bank would take over the properties and mostly like another investor would buy them from the bank. Or maybe FLR would try to unload them at a discounted price to keep from going under? Either way this "may" not be a terrible thing so long as someone is trying to SELL them and not turn your building in an apartment complex... that would be my biggest concern, but some HOAs limit the number of units that can be leased or the number one person/company can lease out and that is definitely something I would look into at any condo development I was considering buying into. Quote Link to comment Share on other sites More sharing options...
liammclaren Posted December 22, 2008 Share Posted December 22, 2008 I've lived in Houston for about 15 years now, all over the city. Now I'm thinking of moving downtown, and was wondering about the Franklin Lofts, renting, that is. There are a couple on HAR and they look nice. Anyone know anything pro or con about them? Quote Link to comment Share on other sites More sharing options...
Porchman Posted December 22, 2008 Share Posted December 22, 2008 I've lived in Houston for about 15 years now, all over the city. Now I'm thinking of moving downtown, and was wondering about the Franklin Lofts, renting, that is. There are a couple on HAR and they look nice. Anyone know anything pro or con about them? For renting, you would probably be okay, although there is some volatility. I have heard some hum about a few problems there. Apparently Ike did some things with the roof. Some investors have gotten in, possibly paid more than what their units are worth now An owner or two have decided HOA fees are optional It's a cool building, though. Redone about 5 years ago. It had a better view to the north toward the Bayou before UHD (or whatever it is this week) built the Urban Ed./Criminal Science building across the street on Franklin. (Urban Ed. and Criminal Science are two, separate departments, BTW.) Quote Link to comment Share on other sites More sharing options...
sifuwong Posted December 29, 2008 Share Posted December 29, 2008 Where is this place located exactly? Any pics? Quote Link to comment Share on other sites More sharing options...
musicman Posted December 29, 2008 Share Posted December 29, 2008 Where is this place located exactly? Any pics?franklin @ main Quote Link to comment Share on other sites More sharing options...
liammclaren Posted December 29, 2008 Share Posted December 29, 2008 here's some pics of the interior-- pretty cool: Quote Link to comment Share on other sites More sharing options...
rsb320 Posted December 29, 2008 Share Posted December 29, 2008 (edited) Where is this place located exactly? Any pics?Main @ Franklin, downtown. http://www.franklinloftshouston.com/ Edit: Ooops - redundant. I didn't scroll all the way down. Edited December 29, 2008 by rsb320 Quote Link to comment Share on other sites More sharing options...
RealtorHouston Posted April 1, 2009 Share Posted April 1, 2009 Franklin Lofts #5D 201 Main Street $1,495 / month Loft Living at its Finest! With so many imitations on the market, finding a true loft conversion in the Houston area is like finding a pearl in a sea of oysters. This unit in Franklin lofts is precisely that! Upon entry, a long hallway with closet space leads you back to the one bedroom loft, a large living space kitchen and dining against a vintage brick wall and windows that look into downtown. The angled wall between the dining and bedroom area makes a perfect study. A deep winding closet is as unique as it is functional, with plenty of space for clothing and storage. The kitchen backsplash with chalk board surface is a perfect place to leave yourself notes, or to add your own artistic impressions that you can change at your convenience. The flat screen TV in the living room, two chandeliers and entry sconces from Design Within Reach are not included, but negotiable. Originally completed in 1905, this eight-story neo-classical commercial building was the first steel-framed structure in Houston. At that time, the Franklin Loft building was the First National Bank building. Now transformed into residences ranging from 950 - 2500 sf, they overlook the Buffalo Bayou and are on the MetroRail line. click here for more information 1 bedroom / 1 bath 1117 sq. ft. per HCAD Quote Link to comment Share on other sites More sharing options...
Highway6 Posted April 1, 2009 Share Posted April 1, 2009 (edited) Couldn't all of these have gone in one post.... Edited April 1, 2009 by Highway6 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted November 9, 2019 Share Posted November 9, 2019 The county plans to demolish this building. I thought Harris County sold the building in 1999? Looking at a Harris County capital improvement report. Quote Link to comment Share on other sites More sharing options...
Ross Posted November 10, 2019 Share Posted November 10, 2019 27 minutes ago, ekdrm2d1 said: The county plans to demolish this building. I thought Harris County sold the building in 1999? Looking at a Harris County capital improvement report. I think the County plans to demo the Lomas & Nettleton garage at 119 Fannin and the Coffee Pot Building at 102 San Jacinto. At least that's what I am thinking after perusing this 2011 list of County owned property https://agenda.harriscountytx.gov/2011/06-21-11CIP-FY 2011-12 Web/06-21-11 CIP-FY 2011-12 06-Buildings.pdf 1 Quote Link to comment Share on other sites More sharing options...
Brooklyn173 Posted July 4, 2023 Share Posted July 4, 2023 (edited) oops Edited July 4, 2023 by Brooklyn173 Quote Link to comment Share on other sites More sharing options...
adr Posted July 17, 2023 Share Posted July 17, 2023 915 Franklin St. is the Bayou Lofts, not the Franklin Lofts. And this thread does not have anything to do with that building, please correct. 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted February 9 Share Posted February 9 https://www.instagram.com/bad.chx/?hl=en Architect - https://crescentdg.com 1 1 Quote Link to comment Share on other sites More sharing options...
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