111486 Posted February 17, 2005 Share Posted February 17, 2005 Priced from $125,000-$250,000 Dont get too happy with the price because all residences are 1 bedroom/ 1 bathroom Located at 2205 McKinney, near Lofts at the Ballpark. 1 Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 17, 2005 Share Posted February 17, 2005 We really need to talk more about the urban projects going up on the eastern end of DT/warehouse district. A trip down Dowling will reveal a handful of new buildings with more on the way.I like the way the building's laid out. Is it a "from-the-ground-up" deal or a rehab? Quote Link to comment Share on other sites More sharing options...
Lowbrow Posted February 17, 2005 Share Posted February 17, 2005 I like that. What car is that, like a 67 dodge dart?Is it actually considered downtown when its on the other side of 59? Or is that just silly semantics? Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 17, 2005 Share Posted February 17, 2005 LOL! I didn't even notice the Dart. Quote Link to comment Share on other sites More sharing options...
Talbot Posted February 18, 2005 Share Posted February 18, 2005 Unfortunately it doesn't look to have any retail. but I guess on the east side there isnt enough foot traffic to constitute ground retail huh? Quote Link to comment Share on other sites More sharing options...
jgs1419 Posted February 18, 2005 Share Posted February 18, 2005 The biggest obstacle is to mixed use for developer's is readily available financing. Lenders on a project like this will want a signficant equity contribution from the developer's plus 30+% of the units presold before they pony up the construction loan. The retail lending world is segmented into the super center, neighborhood center, strip, etc. and will only lend based on demographics and comparables (which largely don't exist in urban infill efforts).Likewise, some underwriters that do residential lending have very low limits on how much they can lend on retail (remember that the real estate finance world largely lives in silos). The end result is that a developer can't readily assemble the financing for mixed-use and the project goes straight residential.That dynamic isn't helped when a local (myopic) multi-family developer gets quoted in The Chronicle saying "you have to have 1,500 residents in a development to justify ground floor retail". Lenders, surprisingly, can and do read the paper. Quote Link to comment Share on other sites More sharing options...
Talbot Posted February 18, 2005 Share Posted February 18, 2005 ^understandable.But, it will come in time. Once we get a good foot in the door on the infill efforts, we can start focusing more on retail. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted February 18, 2005 Share Posted February 18, 2005 I like that. What car is that, like a 67 dodge dart?<{POST_SNAPBACK}>I got it being a 66 T-Bird. Note the rear wheel skirts and the tan landau roof. Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted February 18, 2005 Share Posted February 18, 2005 I like the way the building's laid out. Is it a "from-the-ground-up" deal or a rehab?<{POST_SNAPBACK}>I was wondering the same thing. Also does anyone know how many units there are? Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 18, 2005 Share Posted February 18, 2005 I'm pretty sure it's a rehab. The name is taken from the old business establishment that occupied the building, I believe. Something like Herin Moving and Storage. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 18, 2005 Share Posted February 18, 2005 JGS, interesting explanation about the financing problems for mixed-use. I've heard that before about finance people living in silos.My question: how do developers accomplish mixed-use projects in other cities? Do they manage to break down the silos over time? Couldn't Houston developers get some out-of-town finance people who don't live in silos? (But I suppose real estate financiers aren't comfortable financing projects outside their own city.) Quote Link to comment Share on other sites More sharing options...
UrbaNerd Posted February 18, 2005 Share Posted February 18, 2005 This was in the Chronicle last summer. It IS a rennovation. Quote Link to comment Share on other sites More sharing options...
Subdude Posted July 15, 2005 Share Posted July 15, 2005 This one needs to come off the "Unbuilt Houston" list. The construction permits have been issued. Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted July 15, 2005 Share Posted July 15, 2005 So is this still an accurate rendering? Does anyone have any other info? Quote Link to comment Share on other sites More sharing options...
Kirzania Posted July 15, 2005 Share Posted July 15, 2005 Found this: (PDF) Capital Improvement Plan Go down to page 12. "Existing sub-standard water; wastewater, storm sewer infrastructure plus deteriorating structures & abandoned rail infrastructure; have hindered efforts for redevelopment & development in the area." And this is old and it may have been linked already. Downtown Houston Market Analysis Page 75: "Several projects under development: [...] Herrin Lofts: 45 units." No opening date and it's from October, 2001. And this site lets you do a search for 'Herrin Lofts' for sale. I'm not sure why. Better Network Quote Link to comment Share on other sites More sharing options...
lwood Posted July 15, 2005 Share Posted July 15, 2005 So is this still an accurate rendering? Does anyone have any other info? <{POST_SNAPBACK}> These are listed on the Houston Association of Realtors web site (www.har.com). Click on townhouse/condo in area 4. You will see them priced in the low to mid 100's. This developement is by Mir Azizi, the person who started all of the construction in the West End several years ago. He has a less successful on Elgin across from Baldwin Park. We will have to give him credit for something so close to downtown and priced from the low 100's. Quote Link to comment Share on other sites More sharing options...
Kirzania Posted July 16, 2005 Share Posted July 16, 2005 As lwood said... This is for you lazy ones who don't want to go to HAR and search. This is the rendering on the MLS: Edit: Floorplans, people! Post floorplans when you sell a townhouse/condo/apartment. No one likes to just see some stupid rendering. Half of us could care less. Bring me my square footage and where the garden tub in my master bathroom will be in relation to the window, presently! This Azizi guy has my attention - if I could see a floorplan and some standard features; I'd snatch this thing up in a heartbeat. McKinney and Polk? That's a one minute walking distance to my old building. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted July 16, 2005 Share Posted July 16, 2005 I didn't realize the original plans were so old. I have been watching the progress with interest since the pricing seems much more competitive than the nearby Live Oak lofts. They are currently increasing the size of the original windows and doing something on the interior with a bulldozer. There is also a big "hole" in the middle of the building on the upper floors, don't know if that is new or existing.Sort of OT, but I wish the City would do more to encourage development in this area. Once you get past Lofts at the Ballpark, the streets are a complete mess, and I imagine the sewer and other infrastructure is just as bad. I realize there are limited resources to go around, but IMO if anywhere deserves a TIRZ, this is it! Quote Link to comment Share on other sites More sharing options...
Guest danax Posted October 21, 2005 Share Posted October 21, 2005 Here's where the project is at as of this afternoon. Quote Link to comment Share on other sites More sharing options...
Talbot Posted October 21, 2005 Share Posted October 21, 2005 That's good that it finally happened, hopefully more projects can come off the unbuilt list as well. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted October 21, 2005 Share Posted October 21, 2005 There was a write-up in a recent Chron that stated the lofts were being resized to get the prices down. Now they were under 1000 sq ft. For a while no progress was being made ("back to the drwaing board?") but it appears that the property is active again. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted February 5, 2006 Share Posted February 5, 2006 (edited) Noticed this evening that the developer has put up some more details on HAR. Here's a link with some updated pictures. Not loving the continuous balconies (hides too much of that beautiful brick) but at least now I know why they were appearing to gut the interior of the building (see the fountain in one of the pics). Depending on the interior amenities, the price/sq ft for this particular unit doesn't appear to be out of line with comparable lofts in the area. http://www.har.com/search/engine/indexdeta...=0&backButton=Y BTW, HAR added a 'loft' option when searching for properties--and wow, I have never seen so many inaccurately listed properties! Note to realtors: Urban Loft townhomes aren't actually lofts ETA--Interior courtyard artist conception: http://harpictures.marketlinx.com/MediaDis...hr1581611-1.jpg Edited February 5, 2006 by travelguy_73 Quote Link to comment Share on other sites More sharing options...
TheNiche Posted February 5, 2006 Share Posted February 5, 2006 Sort of OT, but I wish the City would do more to encourage development in this area. Once you get past Lofts at the Ballpark, the streets are a complete mess, and I imagine the sewer and other infrastructure is just as bad. I realize there are limited resources to go around, but IMO if anywhere deserves a TIRZ, this is it!A TIRZ is in place. It is the 'East Downtown TIRZ', aka TIRZ No. 15. It was put in place a few years ago when a high-priced research firm with offices in every glitzy, uppity, planned city (not Houston) around the nation forecasted massive growth for the area, largely the result of all the planned stadia and convention center expansions. For a while, land prices and interest for lots in the area spiked, but the projected development was way off. Lofts at the Ballpark had a really tough time filling up the complex, as I understand, as did the Alexan Lofts, further north. For a while, the Alexan was giving away free plasma TVs and several months of free rent for a 13-month lease.So now, the TIRZ is on Mayor White's hit list, as per a Chronicle article from a ways back. Its not surprising either. The tax base is extremely limited anyway--they couldn't possibly be pulling in enough revenue to get anything really significant done in any short period of time. The other thing is that TIRZs are most effective when there are extremely few that are active.The optimal approch to implementing them is to have one within each of your core urban areas using very strict definitions as to what is urban. In other words, have one Downtown, another in Galleria/Post Oak area, and another in TMC. Then create one or two that are in underdeveloped and lower-income neighborhoods that are directly adjacent to higher-income areas. Its ok to create large ones, but they need to create a sense of continuity of growth. I'd like to have seen Midtown's extended up through Fourth Ward, Sixth Ward, and First Wards, then up the Washington Avenue Corridor, and that be the end of it. All other TIRZs should be eliminated until the active corridor has been well-established. And just because the area is looking nice and infrastructure is updated, doesn't mean that its time to back off, either. To continuously promote a lot of development in the short term, public art projects, neighborhood parks, a district police force, and elaborate economic development efforts need to be constantly active. Then, all the peripheral TIRZs need to be axed, at least for the first decade, so that TIRZs aren't competing with one another. That's how to make them work. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted February 5, 2006 Share Posted February 5, 2006 Not loving the continuous balconies (hides too much of that beautiful brick) but at least now I know why they were appearing to gut the interior of the building (see the fountain in one of the pics).I'm ok with the balconies. I'm ok with almost anything that allows projects like these to increase appeal and become successful, as at least they'll still be standing in some form. I think the original no-frills loft concept is less popular anyway and people are probably looking more for a regular condo styled unit.I drove by yesterday and noticed the Herrin nameplate is now Crane....? I just glanced at the building and now I'm half-wondering if I was looking at something else. Quote Link to comment Share on other sites More sharing options...
Talbot Posted February 5, 2006 Share Posted February 5, 2006 From the rendering it almost looks like something that would be in NOLA. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted February 5, 2006 Share Posted February 5, 2006 From the rendering it almost looks like something that would be in NOLA. Funny that you mention it, because it reminded me of the same thing. Balconies with giant Boston Ferns hanging off them and lots of window boxes. I like the rooftop terrace, especially if they do small trees up there (a la South Texas College of Law's rooftop terrace, which is beautiful from the street level). Hopefully they will have a management company to maintain all of this! They spent the past few weeks powerwashing the grafitti off--looks to have been successful. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted February 16, 2006 Share Posted February 16, 2006 As of today. You are right Danax that it does say Crane at the top (note the name in the picture), so I'm not sure where Herrin came from. Anyone here know? I didn't find anything on Google. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted February 16, 2006 Share Posted February 16, 2006 I believe its most-recent prior incarnation was as warehouse for Herrin Moving and Storage Co, or something like that. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted March 16, 2006 Share Posted March 16, 2006 (edited) A few facts from the agent:-Beautiful courtyard with grand fountain-Elevator and 2 stairway access to beautiful sky deck garden overlooking Downtown Houston-Control Access entry gate to assigned private covered parking in the first two levels of the building with camera surveillance of gates and parking area.-Each unit features a private balcony (except 3 )-New York Loft style, brick walls-Double pane windows for maximum energy efficiency & sound-Insulated and sealed for sound proofing with a specific technique between units and hallways.-10 Edited March 16, 2006 by travelguy_73 Quote Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted July 18, 2006 Share Posted July 18, 2006 Any news on the Herrin Lofts? On MLS it states completion dates of 8/20 and 9/20 and there are 52 units on MLS with no Option/Pending/Pending Sales. I drove past and around the building this past weekend and it appears to me that there is still quite a bit of work to be done and a completion date for the first units in a month is not realistic.Toolman are you still considering the Herrin Lofts? I would imagine the developer and the agent would kill for some sales so you may be able to get them to come off the prices quite a bit.Scharpe St Guy Quote Link to comment Share on other sites More sharing options...
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