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4503 Montrose Blvd (Formerly Bridgeview Crossing)


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Plus, I live in Montrose! :)

Me too.

Seriously, who would want to live around that Shepherd/59 mess in a midrise? Retail may do better over there, but it's not a neighborhood atmosphere. It's a cluster of businesses and traffic.

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Unfortunately, this is no joke.😫 Here’s the monster, currently on the planning commission agenda:   

NIMBYs in the heights- “Build storage facilities along a highway where they belong!!”    Owners of highway adjacent property in Montrose 

It’s going to be a...ughhh..6-story storage facility. 😵

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You can tell I wrote that last post in a rush.. it's full of grammar error and I don't think I can edit it anymore :(! please forgive my errors. I meant to say I live near Montrose. I live close to the corner of Montrose and Main so I feel like I can say I live in Montrose and/or the Museum District, but I spend a lot of my time in and around the Montrose area and I'd like to see something like this built there.

Edited by Jax
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They can put another boring box up on an access road somewhere without retail and I'm sure it will do fine, but Montrose needs something like this.

But as you pointed out, this isn't just a conventional box...and (you think that) Montrose is already more pedestrian-friendly. Putting this near Shepherd would help that area come into its own.

Why should one area that is already nice be made nicer while neighborhoods not as nice get snubbed? Perhaps you's also favor tax cuts exclusively for the rich to encourage them to spend more money on nicer homes, while the rest of us must make do with what we have. Clearly this is the conventional line of thought on this thread. You all should think more unconventionally. Like me.

Edited by TheNiche
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M59.JPG

Midway is also developing M Fifty Nine (rendered above), a Class A office building in the Museum District. It’ll be 13 floors with 74k SF of office space and 7k SF of ground-level retail. Once construction starts in 1Q11, look for it at the intersection of Montrose and 59 — it'll be easy to spot off the highway. The property is designed by Munoz Albin and will have great views of downtown; a GC hasn't been selected. Midway is working with Stream on preleasing and is ramping up the possibility of building another hotel in the Med Center.

http://www.bisnow.com/houston_commercial_real_estate_news_story.php?p=9684

I like it... :)

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But as you pointed out, this isn't just a conventional box...and (you think that) Montrose is already more pedestrian-friendly. Putting this near Shepherd would help that area come into its own.

Why should one area that is already nice be made nicer while neighborhoods not as nice get snubbed? Perhaps you's also favor tax cuts exclusively for the rich to encourage them to spend more money on nicer homes, while the rest of us must make do with what we have. Clearly this is the conventional line of thought on this thread. You all should think more unconventionally. Like me.

Because adding more pedestrian Fridley retail to Montrose will make more of an impact than adding one pedestrian friendly development to Shepherd. I like the idea of getting a critical mass of walkable stuff on one street rather than spreading it all around. That's sort of the idea of urban planning and zoning. Since we don't have zoning here, we just have to hope that developers will make the right decisions to build great neighborhoods, and I think putting this place on Montrose is the right idea. I also think West Ave would have been way better at Montrose and Westhiemer than Kirby and Westhimer for the same reason but c'est la vie.

No, I don't favor excessive tax cuts to the rich. Why is that relevant here? Don't even answer that because it would be off topic.

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Because adding more pedestrian Fridley retail to Montrose will make more of an impact than adding one pedestrian friendly development to Shepherd.

I happen to agree, but only because Montrose lacks the critical mass that Shepherd already has. Shepherd already makes so much more sense for a development aimed at pedestrian-friendliness that it would achieve only diminishing returns and also comprise an inequitable distribution of new pedestrian-friendly developments.

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I also think West Ave would have been way better at Montrose and Westhiemer than Kirby and Westhimer for the same reason but c'est la vie.

Montrose tenants won't pay Kirby rents. Anything like West Ave. was never really an option at Montrose and Westheimer. And thank goodness, because Kirby tenants would completely ruin the appeal of Montrose.

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Montrose tenants won't pay Kirby rents. Anything like West Ave. was never really an option at Montrose and Westheimer. And thank goodness, because Kirby tenants would completely ruin the appeal of Montrose.

ditto!

does anyone know if the montrose blvd conservancy is still kicking? the walkable montrose plan would certainly solidify this area as "walkable".

i like this location for this building; however, i'd like it even more if the montrose blvd improvements were progressing. i do not see any activity on the conservancy website since '08.

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ditto!

does anyone know if the montrose blvd conservancy is still kicking? the walkable montrose plan would certainly solidify this area as "walkable".

i like this location for this building; however, i'd like it even more if the montrose blvd improvements were progressing. i do not see any activity on the conservancy website since '08.

My guess would be that that, like many other things, is a victim of the recession?

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Me too.

Seriously, who would want to live around that Shepherd/59 mess in a midrise? Retail may do better over there, but it's not a neighborhood atmosphere. It's a cluster of businesses and traffic.

I think I got confused at some point. This is to be office/retail, not residential/retail. At any rate, I think it'll look cool there.

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OOh! It's going to be on THAT side of 59!

For some reason I thought it was going to be on the South West section of the montrose and the bridge.

Yeah, this will be a big improvement on the area and it should have out the local restaurants in the area as well as be on the Montrose stop of the Richmond rail once it's built.

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It's not about whether they'll be just fine. It's that they could do better.

I believe the intention is to use most of the building for gallery space. That makes Montrose a great location for this since there is already a core of art galleries in the immediate vicinity.

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@theNiche:

A Shepard/59 site would diminish the sexy allure the 59/Montrose site has from the auto-motorist's perspective. Imagine traveling down 59 and submerging as a tower rises over the freeway, that is architectural drama. Versus an exposed and oblique POV much like Greenway Plaza's towers. No drama, no value, and in effect blending in with Greenway and eastern ancillary developments.

City wide identity and desirability are the long term goals at play here (which explains the bldg's height & planar slenderness), and if catching onto pedestrian/street retail perceptual inertia in an upscale enclave while providing that enclave with a freeway barrier/visual distraction is what makes this site a shoe-in. Remember how area archipiles wanted to get Santiago Calatrava to design the Montrose bridge, but TXDOT turned a deaf ear? Houston has a long long history for being bad neighbors of those who would try something different, so in this case it makes sense to "get in where you fit in," considering it's contextual neighbors are much more affluent than say Whataburger. Your right that this would not appeal to the group-think of institutional investors, this project is more akin to the wild-catter developments of Houston's former glory days.

P.S. Not to mention mature oaks, hard to put a consensus valuation on shade in Houston. Shepard/59 = no shade.

Edited by porTENT
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Your right that this would not appeal to the group-think of institutional investors, this project is more akin to the wild-catter developments of Houston's former glory days.

Yeah, so how does that paradigm mesh with cap rates in 2010?

P.S. Not to mention mature oaks, hard to put a consensus valuation on shade in Houston. Shepard/59 = no shade.

There's shade along the north side of buildings, so stick to the south side of streets and you'll be fine. ...besides which, nobody of importance to an office lease was going to walk anywhere to begin with.

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Well sure, if their doctor tells them that they have to or that they will die. Otherwise, no. They have access to nice private transportation, dress nicely and don't like to sweat, and are human and therefore lazy.

Excuse me. I just walked around the block, dressed nicely, whilst smoking a cigarette. No doctor has told me that I was going to die, but it does say pretty much that on a pack of smokes. __~~

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Yeah, so how does that paradigm mesh with cap rates in 2010?

I am honestly am out of my depth here and am generally hoping your handle-sake of a niche market exists city-wide for this type of office space. Even if this particular project doesn't get off the ground, this site will likely spawn another project of similar height/size later in time.

There's shade along the north side of buildings, so stick to the south side of streets and you'll be fine. ...besides which, nobody of importance to an office lease was going to walk anywhere to begin with.

LOL,not trying to dog pile with the rest of the posters, but what time do you eat lunch?

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Another thing I was thinking in terms of the site is that it will close a cul-de-sac street, meaning less city maintenance and more so that the city will get more taxable property sqft'd in the exchange. I would take the next logical step by closing Woodrow Ave's T-interesection with Montrose, but realistically they will employ HPD to let office workers out. Highway access is a beautifully veiled cinch, with the Richmond exit off the Spur northbound and the Fannin exit off US59 southbound. I'm just glad Ewald didn't get to design this! tongue.gifJ/K, Also if anyone's been to the site recently there's a nice quiet niche behind the art gallery with a lofty cantilevered concrete flat roof with 20' bamboo's underneath. I want to say Peter Zweig designed it.. my memory's a little fuzzy but the tactile nature of that space is worth checking out.

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I am honestly am out of my depth here and am generally hoping your handle-sake of a niche market exists city-wide for this type of office space. Even if this particular project doesn't get off the ground, this site will likely spawn another project of similar height/size later in time.

New office space of any sort is a niche market nowadays with so little new construction. I wouldn't argue that this building can't be filled (eventually), however the competition will be stiff, particularly from more accessible properties. Additionally, investor confidence is not strong regarding rent growth in any reasonable span of time; it seems to be getting worse; that's going to be a problem. Compound that with a hoarding mentality in the capital markets and a flight to quality. Even nice properties get passed over when there is a downside; the few investors that exist can afford to be exceedingly picky.

And that, in a nutshell, is what's wrong with commercial real estate. There are a few good deals being transacted, but VERY FEW. West Ave. comes to mind, but this is no West Ave. In the eyes of investors...this site sucks monkey balls compared to the West Ave. site (or a Shepherd site).

Excuse me. I just walked around the block, dressed nicely, whilst smoking a cigarette. No doctor has told me that I was going to die, but it does say pretty much that on a pack of smokes. __~~

Do you lease half a floorplate of office space? No? Then I wasn't talking about you.

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  • 4 weeks later...

http://www.chron.com...ff/7206728.html

The developer, meanwhile, is pre-leasing another office building it plans to develop in Montrose.

"It's a boutique building in a unique market — one that's been largely underserved," Brinsden said.

Located at the northeast corner of Montrose Boulevard and the Southwest Freeway, the site currently houses a parking lot and a small house.

The new building would be 88,000 square feet in 12 stories.

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This article answer my question above ;P

Closer to downtown, Midway’s proposed M Fifty Nine project will have 74,000 square feet of space with ground level retail. Once some tenants have committed to the 13-story project, construction will start at the northeast corner of Montrose and Highway 59.

Midway will develop the project in partnership with the land owner, whose name was not disclosed.

“We’d like to get it kicked out of the ground,” Freels says. “It will only take two to three pre-leases to get there.”

Preston Young of Stream Realty Partners LP is responsible for finding tenants for the Inner Loop office

http://www.bizjourna.../20/daily7.html

Edited by lockmat
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Someone's gotta say it.

I'm sorry to see another of the original Montrose Boulevard houses bite the dust. I won't even try to defend this structure as a significant piece of architecture; it's not.

Its absence will make picturing Montrose in its heyday a little more difficult. This proposed new building is welcome - in a bittersweet way.

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  • 4 months later...

Someone's gotta say it.

I'm sorry to see another of the original Montrose Boulevard houses bite the dust. I won't even try to defend this structure as a significant piece of architecture; it's not.

Its absence will make picturing Montrose in its heyday a little more difficult. This proposed new building is welcome - in a bittersweet way.

http://culturemap.com/newsdetail/12-27-10-demolishing-the-doldrums-office-towers-somehow-keep-rising-in-houston/

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  • 1 month later...
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  • 1 month later...

http://www.houstonrealestateobserver.com/houston-developers-starting-new-office-buildings/

"The most surprising of the new office projects being discussed is the so-called Block 69 deal at Main Street and Texas Avenue in downtown Houston. Hines owns the block and it has retained an architect to design plans for a new tower there."

"Midway Cos. has two new buildings on the drawing board – the 250,000-square-foot City Centre III project and the proposed M Fifty Nine, a 74,000-square-foot building on Montrose Boulevard."

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Is this building under construction? When the 18-wheeler lost it's load last week on the I-10/610 ramp, I was diverted and had to take 59 past downtown and saw some construction, but couldn't remember exactly where it was. It was really close to the freeway on the north side, which made me think it might be this project. Anyone know?

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Is this building under construction? When the 18-wheeler lost it's load last week on the I-10/610 ramp, I was diverted and had to take 59 past downtown and saw some construction, but couldn't remember exactly where it was. It was really close to the freeway on the north side, which made me think it might be this project. Anyone know?

It's practically on 59, north side and east side of Montrose. I drive by there from time to time and nothing has been done, the sign is still out front if that counts for anything.

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It's practically on 59, north side and east side of Montrose. I drive by there from time to time and nothing has been done, the sign is still out front if that counts for anything.

So what is being built just to the north of 59, I'm assuming it's further west where I saw it.

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This article answer my question above ;P

http://www.bizjourna.../20/daily7.html

I know some of you guys can answer this for me, what happens when you have two or three pre-lessees so you go ahead and break ground on a project, then your lessees back out on you for whatever reason. Im sure there is legal recourse, but what happenes to the structure, do you just finish building it anyway, without any tenants?

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Is there any word about this project going up ? Have any pre leases taken place ?

Midway's website says it is "under development" but loopnet's listing has not been updated for months, of which I'm not sure necessarily has any meaning.

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