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Ivy Lofts: 28-Story Residential High-Rise East Of Downtown


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Hello Everyone- This is Jason Franklin with the Ivy Lofts- I have really enjoyed reading your thoughts on our upcoming project and would be happy to answer any questions you may have. I can do that here, or if you would like to contact me directly, you can reach me at jason@theivylofts.com.

 

I look forward to your questions.

 

 

What sort of parking will units have?  A normal 9 x 18 parking spot is 162 square feet, more than half the size of your smallest units.  Is this building going to literally be half parking garage?

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What sort of parking will units have?  A normal 9 x 18 parking spot is 162 square feet, more than half the size of your smallest units.  Is this building going to literally be half parking garage?

 

The Ivy Lofts is anticipating a monthly HOA/Maint. Fee of $.28 per foot. The first floor of the building will offer 15500 SF of retail with 7 floors of parking. Each unit will be offered with one parking space. Additional parking will be available for purchase if desired.

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The Ivy Lofts is anticipating a monthly HOA/Maint. Fee of $.28 per foot. The first floor of the building will offer 15500 SF of retail with 7 floors of parking. Each unit will be offered with one parking space. Additional parking will be available for purchase if desired.

$0.28 psf is a very inexpensive rate. That will be very important to many of the buyers here. Ivy is smart to try to keep rates low.

My gut tells me that many other buildings around town are in the $0.50 to $1.00 psf.

For the $0.28 psf, what amenities are offered? Valet parking? 24/7 Concierge? I understand, perhaps incorrectly, that it is the "people/staff" that drives much of the HOA fee.

Edited by UtterlyUrban
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Wow, if they actually hit this price point the micro-units will be quite affordable. At 300 sqft the HOA would be about $100, and a $120K 30 year mortgage will be about $600. $700/month seems like it's quite a bit cheaper than any rental option this close to downtown.

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$0.28 psf is a very inexpensive rate. That will be very important to many of the buyers here. Ivy is smart to try to keep rates low.

My gut tells me that many other buildings around town are in the $0.50 to $1.00 psf.

For the $0.28 psf, what amenities are offered? Valet parking? 24/7 Concierge? I understand, perhaps incorrectly, that it is the "people/staff" that drives much of the HOA fee.

The Ivy Lofts will provide 24/7 Concierge, Secure parking for Residents from the 3rd to 8th floors,  Glass Enclosed Gym overlooking the Pool and Downtown, Yoga/Pilates Area, Pool, Outdoor Cooking / Lounge Areas and 3 Outdoor Terrace Areas in addition to the Pool. The current HOA/Maint Fees in Houston Condos are a financial barrier for many Buyers. The Ivy understands this and has directly addressed this issue.

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Wow, if they actually hit this price point the micro-units will be quite affordable. At 300 sqft the HOA would be about $100, and a $120K 30 year mortgage will be about $600. $700/month seems like it's quite a bit cheaper than any rental option this close to downtown.

Thanks JKETCH! You are exactly right! From the beginning of this project, our primary goal has been to offer an avenue for Renters to move into Ownership. 65% of the units at The Ivy will be will have starting prices under 200K. I remember someone asking previously how many of the Tokyo(300SF) will be available. The current Building Layout offers 103 units at this size.

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Thanks JKETCH! You are exactly right! From the beginning of this project, our primary goal has been to offer an avenue for Renters to move into Ownership. 65% of the units at The Ivy will be will have starting prices under 200K. I remember someone asking previously how many of the Tokyo(300SF) will be available. The current Building Layout offers 103 units at this size.

I would hope this is a successful project, but if it fails, does this affect your plans for future, bugger projects? I would hope that this garners enough attention for you guys to develop a similar project closer to a rail line, although I admire the optimism for leading a high rise birth out of the East End.

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I would hope this is a successful project, but if it fails, does this affect your plans for future, bugger projects? I would hope that this garners enough attention for you guys to develop a similar project closer to a rail line, although I admire the optimism for leading a high rise birth out of the East End.

 Great to hear from you! We appreciate your kind words. Being closer to the Rail would have been fantastic. That being said, the Developer is currently in discussions to have a Metro Stop for The Ivy. As we obtain more information on this, we will be sure to let you know.

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1. Will the HOA be professionally managed or will it become a popularity contest for college students trying to build their résumé?

2. How soundproof will the units be? The target demographic scares me away since I'm imagining a college dorm like I lived in, only with much more units and more parties. Will there be clauses around behavior, noise, nuisance, etc?

3. Comment: If this does go well and you're looking for other projects in Houston... I suggest south of the Texas Medical Center along South Main or south of NRG stadium. There is a strong need for housing like Ivy, but geared toward nurses, young doctors saddled with loans, and med students... all who want to bike/ take rail to the TMC.

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Great to hear from you! We appreciate your kind words. Being closer to the Rail would have been fantastic. That being said, the Developer is currently in discussions to have a Metro Stop for The Ivy. As we obtain more information on this, we will be sure to let you know.

Thanks for the response! I assume that it'll be a bus stop initially before rail? Still, very good to hear.

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1. Will the HOA be professionally managed or will it become a popularity contest for college students trying to build their résumé?

2. How soundproof will the units be? The target demographic scares me away since I'm imagining a college dorm like I lived in, only with much more units and more parties. Will there be clauses around behavior, noise, nuisance, etc?

3. Comment: If this does go well and you're looking for other projects in Houston... I suggest south of the Texas Medical Center along South Main or south of NRG stadium. There is a strong need for housing like Ivy, but geared toward nurses, young doctors saddled with loans, and med students... all who want to bike/ take rail to the TMC.

Hello Brian-

The HOA will be professionally managed and the Condo Docs will of coarse provide the appropriate reservations to ensure a comfortable and enjoyable living environment. The Units have been designed with specific attention to noise. The shared walls will hold Sound Dampening materials. (Not just regular insulation). As for the Med Center, you are exactly correct. The Ivy, while not on South Main, is close in proximity to the Med Center and will provide a good alternative for Nurses, Doctors and Med Students working in that area.

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The Ivy Lofts will provide 24/7 Concierge, Secure parking for Residents from the 3rd to 8th floors, Glass Enclosed Gym overlooking the Pool and Downtown, Yoga/Pilates Area, Pool, Outdoor Cooking / Lounge Areas and 3 Outdoor Terrace Areas in addition to the Pool. The current HOA/Maint Fees in Houston Condos are a financial barrier for many Buyers. The Ivy understands this and has directly addressed this issue.

Cool. So, no valet. That will help keep the HOA fees down and may well be an amenity that your target market doesn't especially value anyway.

24/7 Conceirge is wise.

What is envisioned by the HOA for building maintenance staff? Will there be on-premises building maintenance 24/7 or will it be call-in under contact?

Also, given the size of the units themselves, I doubt that there will be washing machines and clothes dryer hookups in each unit, I assume that the HOA fees cover usage/maintenance/repair of common area washer/dryers? Will the laundry facilities be located on each floor or centralized for the whole complex?

Is parking assigned and deeded?

Edited by UtterlyUrban
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Also, given the size of the units themselves, I doubt that there will be washing machines and clothes dryer hookups in each unit, I assume that the HOA fees cover usage/maintenance/repair of common area washer/dryers? Will the laundry facilities be located on each floor or centralized for the whole complex?

 

 

There has to be hookups in the units - even small apartments have laundry hookups these days...you can get a washer/dryer combo that is the size of a dishwasher....you can put stackable units in a very small vertical space.

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Cool. So, no valet. That will help keep the HOA fees down and may well be an amenity that your target market doesn't especially value anyway.

24/7 Conceirge is wise.

What is envisioned by the HOA for building maintenance staff? Will there be on-premises building maintenance 24/7 or will it be call-in under contact?

Also, given the size of the units themselves, I doubt that there will be washing machines and clothes dryer hookups in each unit, I assume that the HOA fees cover usage/maintenance/repair of common area washer/dryers? Will the laundry facilities be located on each floor or centralized for the whole complex?

Is parking assigned and deeded?

The Maintenance Staffing has not yet been finalized. This is currently a topic of discussion with the Management Company. As for the laundry, each unit will come with Bosch washers and dryers included. One general parking space will accompany each unit and Residents will have the opportunity to upgrade their parking to a designated space if they choose to.

There has to be hookups in the units - even small apartments have laundry hookups these days...you can get a washer/dryer combo that is the size of a dishwasher....you can put stackable units in a very small vertical space.

Every unit will include a Bosch Washer & Dryer

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Article in CityLab about micro-apartments - with mention of the Ivy Lofts

 

http://www.citylab.com/housing/2015/12/in-defense-of-micro-apartments/420645/

 

 

 

Micro-apartments are finally starting to arrive. There are (at least) 11 different micro-apartment developments in the works, according to a report fromCurbed, from the Ivy Lofts in Houston to the Patterson Mansion in Washington, D.C. Or put another way, there are a dozen new apartment buildings headed for markets where some buyers or renters appear to want to live in them.

 

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The Maintenance Staffing has not yet been finalized. This is currently a topic of discussion with the Management Company. As for the laundry, each unit will come with Bosch washers and dryers included. One general parking space will accompany each unit and Residents will have the opportunity to upgrade their parking to a designated space if they choose to.

Every unit will include a Bosch Washer & Dryer

Got it. Thank you.

24/7 Concierge,

No valet parking

No assigned parking (unless some kind of extra fee is paid for an assigned space).

W/D included in every unit

Maintenance staff: on-site or remote? That is still being worked out.

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  • 3 weeks later...

I think the skyline is from the wrong direction...if it is even Houston's

 

it's pretty obvious that it's Houston's skyline - heritage, three allen, chevron and 1600 smith are all prominently displayed. granted this view implies that the Ivy Lofts are being built somewhere near waugh and memorial and not EaDo.

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  • 2 weeks later...
  • The title was changed to Ivy Lofts: 28-Story Residential High-Rise East Of Downtown

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