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Ivy Lofts, 28-Story Residential High-Rise East of Downtown

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I don't think many people consider the area that used to be part of the original 3rd ward that is northeast of the gulf freeway to be a part of 3rd ward. It's been over 50 years since the gulf freeway split that area from the rest of 3rd ward. It's been a part of the downtown super neighborhood for a while now, and you'd be hard pressed to find many people who identify the area now called Eado with the 3rd ward.

 

Since it was separated by the gulf freeway, it has really grown into its own unique part of the Houston fabric that is different from how the 3rd ward on the other side of the gulf freeway grew.

 

3rd ward has an amazing and rich history, and it has its own struggles with townhomes infiltrating and not a lot of money to fight to hold its own unique fabric together. I absolutely love the story of emancipation park, it really highlights the historic sense of community for the area.

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doshi house is part of the transformation though lol.. man I love their cappucinos.

Yep, and as I stated...."Anyone who wants to move here and become part of this vibrant community, I believe, in large part is welcome." However, shops that sell coffee (Kaffeine) and vegan fare (Conscious Cafe) are not new to Third Ward anymore than Doshi House is "transformative". Doshi House is a great addition that enhances the community.  I concede that the $33 million renovation of Emancipation Park is transformative by its mere scale and scope, but its purpose is to enhance the Third Ward experience and to tell the Third Ward story in that Emancipation Park is the "birthplace" of Third Ward.

 

My larger point is that Third Ward, as with any community, has room for improvement--and plenty; but to assume that Third Ward needs to be "transformed" doesn't account for what the community already has.

Edited by quietstorm

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I'm a bit skeptical of this one, so I've tried doing some research without much success

 

The owner per the plat and HCAD is Novel Creative Development LLC

 

The given address per HCAD is

5713 160TH ST
FRESH MEADOWS NY 11365-1443
 
and per the plat it is
3711 Southmore Blvd #408
Houston, TX  77004
 
which is a unit in the Nubia Square apartments unless I am mistaken.  I can't really find anything associated with the addresses above
 
If you check google street view there was a for sale sign on the property back in September 2014 but it appears Novel has owned it since November 2014
 
Obviously this is a decent parcel of land so there is money behind this somewhere.  EaDo is a hot area but when you hear about first floor retail and then see that drone footage something just doesn't click - there's still a lot of vacant land/industrial/etc.  I guess in general that area is lacking retail so the townhouse development + however many people would be in this "mirco unit" tower could support something.  To me it just seems a bit early for something like this to pop up
 
Anyway, whatever the case I seriously doubt groundbreaking will be in a "few weeks".  Would be happy to come back and eat crow on this one, though, as I'd love to see towers on the east side of downtown

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These are happening per my realtor...he was in talks to market the units with the developer - he didn't get the gig unfortunately...

Edited by HoustonMidtown
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While I like that something is being built in this part of town... I do not like the design. It's too blocky.

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While I like that something is being built in this part of town... I do not like the design. It's too blocky.

It's new... They are daring to be new.
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It brings to my mind the brutalist communist housing we always saw in the 80s, but with a little less concrete.

 

Not in a bad way though, I really like it.

 

And then there's the ghostly apparition of the woman in the bathing suit, someone's celebrating Halloween.

Edited by samagon
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I've traveled in Siberia.  Calling these soviet architecture is a bit of a stretch.  The communist apartment buildings are pathetic made with almost no consideration to quality. Our Russian friends were reticent to show them to us.  Many had a Pruitt-Igoe appearance without the sense of criminal menace. One hopes no builder could possibly make this junk here in the USA.

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I've traveled in Siberia.  Calling these soviet architecture is a bit of a stretch.  The communist apartment buildings are pathetic made with almost no consideration to quality. Our Russian friends were reticent to show them to us.  Many had a Pruitt-Igoe appearance without the sense of criminal menace. One hopes no builder could possibly make this junk here in the USA.

 

sorry, I was meaning, that to me they evoke the thought in my mind, I am in no way suggesting that the quality of craftsmanship would be the same.

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The first thing that came to mind for me was the cramped midrises you find in the Bronx and Queens. Will they really sell here?

Maybe things are changing, but when I graduated and came to Houston most of the apartment dwellers in midtown were in their young 20's, non-committal, and paying back loans. When they did have some money saved up or were ready to settle down, they moved on to bigger places either in the neighborhood or close by. As of late unfortunately many of my friends have been fleeing to the suburbs (30's now with kids thinking about schools). I guess we'll have to see what the price point is, but when you can get townhomes in the 300's close by, wouldn't the majority rent an apartment or just go for the space and better resale ops with a townhome?

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That episode was tops.

Didn't like the last one tho.

The fat shaming one.

 

 

the whole season so far is about PC.. but I'm still wondering why Cartman suddenly cries bout being fat shamed when all he used to do is yell, "Hey! I'm not fat, I'm big boned!"

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The first thing that came to mind for me was the cramped midrises you find in the Bronx and Queens. Will they really sell here?

Maybe things are changing, but when I graduated and came to Houston most of the apartment dwellers in midtown were in their young 20's, non-committal, and paying back loans. When they did have some money saved up or were ready to settle down, they moved on to bigger places either in the neighborhood or close by. As of late unfortunately many of my friends have been fleeing to the suburbs (30's now with kids thinking about schools). I guess we'll have to see what the price point is, but when you can get townhomes in the 300's close by, wouldn't the majority rent an apartment or just go for the space and better resale ops with a townhome?

 

Agreed.  To be honest, the more I look at it the more this seems like kind of an odd, isolated spot for something like this - yes, I realize this will change in the coming years but there are other denser, more walkable areas that already exist.  If you work downtown it's not impossible to walk, but it's not particularly convenient or safe.  It's also not near the rail line.  This is just an assumption on my part but I would think people willing to live in smaller units would do so in order to be right in the middle of the action (downtown or maybe midtown).  Or maybe there is just a segment of the population out there that really want to live in a condo for some reason but that can't afford the new ones going up in downtown and uptown

 

That said, I did see that they are sponsoring Houston Whatever Fest:

 

http://houstonwhateverfest.com/sponsorship

 

and given the Facebook, Instagram, and website are now all up and running hopefully we will find out some more soon

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I still don't get it...

 

 

 

Micro-units are typically less than 500 square feet and are geared toward a younger, single person. To make up for the small square-footage, the units have built-in storage space and are traditionally located in highly sought-after areas in the city.

 

East of downtown, desirable, sure... but mostly due to it's affordability and proximity to downtown.  This project would make a lot more sense in uptown, downtown, med-center, etc. places that aren't quite affordable to their target demographic. 

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I still don't get it...

East of downtown, desirable, sure... but mostly due to it's affordability and proximity to downtown. This project would make a lot more sense in uptown, downtown, med-center, etc. places that aren't quite affordable to their target demographic.

Probably because prices are too high in those sectors. While high itself, the EaDo and East End sectors are quite a bargain compared to most areas within inner loop west.

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Probably because prices are too high in those sectors. While high itself, the EaDo and East End sectors are quite a bargain compared to most areas within inner loop west.

 

But the idea behind microunits - less than 500 sq ft - is to be able to afford a place in THE area you want to be in.  Just a quick look at some listings, condos in converted buildings are going for $250/sq ft, while freestanding houses in EaDo are going for more like $188/sq ft.

 

I do wonder how well these will do - and if they are actually sub 500 sq ft

 

Edit:

Ironically, I noticed my picture changed to "condominium" when I posted this

Edited by cspwal

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150k - 350k you all think?

 

considering units in the Herrin lofts (the lofts right next to the soccer stadium) are going for around 150k for the 800sf units, I'd be shocked if they were asking that much.

 

if they truly are 500sf, if they ask over 100-120 they're sinking themselves.

 

This area may not be desirable at the moment today, but 2-3 years when this thing is built? I bet this will be a smart place to be. If you have a car, even more so. With pierce elevated going away, access to freeways from the west side of downtown is going to be rough. With entrances to 45/59 being less than 2 blocks from this development, getting to any freeway is going to be a piece of cake from the east side of downtown. People with cars that want to live close to downtown, but work somewhere other than downtown, this is going to be the side of downtown they want to live on. keep a bike in the condo and you are wherever you need to be in a 3 mile radius faster than you would be in a car.

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Think if this single residential tower sparks another Uptown style area next to Downtown. Like it would seriously connect the East End with Downtown.

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Hmmmm.

Construction beginning "summer 2016"

Sales office open in February of 2016.

That gives them 6 months to sell, what?, 100+ units? (20% of the total?) in order to get their financing?

4 units a week, every week, for 6 months.

That seems like an aggressive timeline to me.

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Smallest units are 300 sqft and start in the $100's? Even at $100K that is $333/sqft. I just don't see this succeeding in Houston.

Though I'll be rooting for them...

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I don't think micro-units cater to the $psf crowd - more so for people that care about overall price.

 

It's extremely difficult to find new product inside the loop in the $100s. Keep in mind, they still have to provide parking, which costs $20k-$30k/space in a structured garage. It's much easier to amortize that cost in larger units than these micro-units.

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i know personally im in the market to buy a condo in downtown or closeby, but thats way to small. I think they'll have a harder time then they think selling these microunits in this economy. The target market is the college graduate who just landed a job and wants to pretend hes rich, and thats a tough demo to fill in this slump.

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The real reason the person you're describing wouldn't buy one of these units is because they probably live in Dallas.

Check, mate?

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It brings to my mind the brutalist communist housing we always saw in the 80s, but with a little less concrete.

 

Not in a bad way though, I really like it.

 

And then there's the ghostly apparition of the woman in the bathing suit, someone's celebrating Halloween.

 

This makes no sense at all....sorry. I'm just not seeing it. But hey can't fight what's your taste. It isn't anything like brutalism or communist block architecture.

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i know personally im in the market to buy a condo in downtown or closeby, but thats way to small. I think they'll have a harder time then they think selling these microunits in this economy. The target market is the college graduate who just landed a job and wants to pretend hes rich, and thats a tough demo to fill in this slump.

The units are very small, but M5259 in Uptown charges $1,700 a month for studio of similar size.

Some people like having smaller spaces to take care of. Let's say you don't really cook that often, and go out a lot, you could have nice views and amenities while not paying rent.

If I were single I would probably consider this, along with a storage unit, would be nice to not throw money away on rent.

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This makes no sense at all....sorry. I'm just not seeing it. But hey can't fight what's your taste. It isn't anything like brutalism or communist block architecture.

 

I'm not at all trained in architecture, my mind just sees what it wants to see, whether that's right or not, that's a different discussion. :)

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Gosh a 500 unit condo is intense. I live in a 300 unit one and the HOA meetings are a nightmare. Can't even imagine throwing in another 200+ owners

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The units are very small, but M5259 in Uptown charges $1,700 a month for studio of similar size.

Some people like having smaller spaces to take care of. Let's say you don't really cook that often, and go out a lot, you could have nice views and amenities while not paying rent.

If I were single I would probably consider this, along with a storage unit, would be nice to not throw money away on rent.

 

You can get a ~750 sqft unit in Metro Midtown for $1300, and one in Post for $1500. I have no idea what M5259 is, but a studio at that cost in Houston seems crazy for me...

 

Also keep in mind, even at lower price points, we have no idea what the assessments/HOA will be. Could easily be $500-$1000/month that is being thrown away just like rent. Also will the charge to lease a parking spot? So that on top of mortgage/title fees, 6% realtor fees at some point, property tax, I would hope on some type of returns and have a good gut feeling that I could sell the place.

 

(Yes I am aware that there are also tax breaks that will offset some of that).

 

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You can get a ~750 sqft unit in Metro Midtown for $1300, and one in Post for $1500. I have no idea what M5259 is, but a studio at that cost in Houston seems crazy for me...

 

Also keep in mind, even at lower price points, we have no idea what the assessments/HOA will be. Could easily be $500-$1000/month that is being thrown away just like rent. Also will the charge to lease a parking spot? So that on top of mortgage/title fees, 6% realtor fees at some point, property tax, I would hope on some type of returns and have a good gut feeling that I could sell the place.

 

(Yes I am aware that there are also tax breaks that will offset some of that).

 

http://www.m5250galleriahouston.com/p/apartments/floorplans_9899/houston-tx-77056/m5250-9899#k=74925

 

Edit: go to page 5.

 

M5250 Is that BEAUTIFUL high-rise that went up next door to the JW Marriott in Uptown.

Edited by Montrose1100

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