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Urbannizer

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

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I am struggling to understand this development group.  I do hope that they are able to build a project that sells and makes them a nice return and in the process creates a terrific property for EADO for years to come.  But, right now it feels to me like tossing speghetti on the wall.

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I agree. The project would be fantastic if it was built but the entire process has been so messy and all over the place now that I feel like it won't happen. Fingers crossed though! The new redesign looks good too but I liked the one before it better.

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^^^ i really LIKE this newer plan much better.  this should indeed become successful, especially downtown...

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Well, yes, but it's not downtown...

 

(To be clear, I do still like it, but more as a catalyst for the area in which its proposed)

Edited by Texasota
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326 micro units.  Given Fannie Mae requirements for a condo project, the number of these that could be purchased by investors for lease will be limited.  How many presales will be needed to make the project go?  And how many people are willing to wait 2 years to move into a mini unit?  

 

On the other hand, the tiny house movement has grown by leaps and bounds.  Could these be appealing to that demographic?

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11 hours ago, Sanjorade said:

Eado still doesn't have a real grocery store. What sense is there to put up a high rise??

 

Well, as the saying goes, retail follows rooftops, doesn't precede them. Yes it's a new frontier, but if it's built (and looks anything like the rendering), a grocery store will surely be coming to Eado.

 

I feel like having a tall new building in a neighborhood is sort of the green light for investment money in this part of the world. Makes the area seem legit. Midtown and Eado both seem to be on the cusp of getting theirs. Then again, it's not like the Heights needed a highrise for its transformation...

 

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Please be positive.  Just remember when EADO had no development.  Now it is getting ready to take off!  There are a lot of people moving here and want to be inside the loop.  Get it now until pricing hikes.  They did a open a Walmart about two miles away.  One day EADO will connect with UOH.   

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I agree with the sentiment of retail following rooftops. I think EaDo is better suited for townhomes and midrises. Having a highrise, full of microunits, just doesn't make the most sense right now. I was once supportive of this project, but now I believe it's the wrong kind of development. I just don't see this going very well for them after the first go round.

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One of the midrises going up next to St. Joesph is advertising being in Midtown so words don't really have meaning anyway

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2 hours ago, cspwal said:

One of the midrises going up next to St. Joesph is advertising being in Midtown so words don't really have meaning anyway

 

At least they are someone close to midtown .... Ivy is 6 blocks from downtown.

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On 12/4/2016 at 11:03 AM, Urbannizer said:

Latest retail brochure is up, ~15,000 sq ft 

 

http://x.lnimg.com/attachments/25841F7F-870A-4B99-8CB5-ED6B064992CF.pdf

I am surprised and skeptical that the 1-, 2-, and 3-mile radius demographic household income does not vary much radius to radius to radius.  "Average"......   if the 1 mile radius picks up those 300 those wealthy folks at One Park place with say, $500k of annual income and picks up the several thousand folks somewhere in the east side with $30k incomes, what's the "average"..... gee, I wonder if they used the mean, median, or mode?

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On 11/2/2016 at 11:09 PM, Sanjorade said:

Eado still doesn't have a real grocery store. What sense is there to put up a high rise??

Prob to attract a grocery store??? The people on the East End rely on small meat market places, which imo opinion are great! A big box gorcery store will prob kill those businesses. I mean with an increase in population and foot traffic, it will only be a matter of time before other things happen. 

Edited by j_cuevas713
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2 hours ago, j_cuevas713 said:

Prob to attract a grocery store??? The people on the East End reply on small meat market places, which imo opinion are great! A big box gorcery store will prob kill those businesses. I mean with an increase in population and foot traffic, it will only be a matter of time before other things happen. 

 

Did Midtown have any high rises before Randall's? I think EaDo would be better suited for midrises.

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I think both neighborhoods are suited for those types of development. The thing is that Midtown is more modern and the East End is more industrial. Just two different styles. 

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On 12/5/2016 at 6:35 PM, Sanjorade said:

On facebook, they are advertising the development as being in downtown as opposed to "EaDo" .... seems a bit deceptive to me.

 

EaDo is part of the downtown super neighborhood.

 

http://www.houstontx.gov/superneighborhoods/snmapsbyzip.pdf

 

so there's no subterfuge to call that location, or any location in EaDo, Downtown.

Edited by samagon
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6 hours ago, CrockpotandGravel said:

From Houston Chronicle:

Weitzman Group to lease retail space in East End's Ivy Lofts project



The Weitzman Group will handle leasing of 14,228 square feet of retail space on the street level of The Ivy Lofts, a 26-story condo building planned in the East End.


Novel Creative Development is developing the 448-unit project of micro condos at the southwest corner of Leeland Street and Live Oak Street.
Prices are expected to start below $160,000.

 

Randy Hopper and Edward Heap with The Weitzman Group are handling the assignment. The space is being marketed to unique, casual restaurants, small-shop retailers and services.

http://www.houstonchronicle.com/business/bizfeed/article/Weitzman-Group-to-lease-retail-space-in-East-10808246.php?t=fc9853b27c438d9cbb&cmpid=twitter-premium

 

What I find crazy is projects like this go for street level retail yet many in downtown are not including any. Can someone explain how that makes any sense?

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1 hour ago, dml423 said:

 

What I find crazy is projects like this go for street level retail yet many in downtown are not including any. Can someone explain how that makes any sense?

 

It's pretty simple. Most developers know what they're doing - these guys don't. With that being said, I really hope they do succeed, as this would be a game changer for the area.

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Most developers are (understandably) conservative and tend to continue doing what has worked for them in the past, which, in Houston, generally was not mixed-use.

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1 hour ago, cloud713 said:

So do we know how many stories this is now? No way it will be 28 stories if it's 234' tall.

 

Seems more like 20 stories

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I wonder if they have given up on this one - there were no cars in the parking/sales lot today - the shrubs by the entrance are dead, the signs on the building are gone.....

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10 minutes ago, HoustonMidtown said:

I wonder if they have given up on this one - there were no cars in the parking/sales lot today - the shrubs by the entrance are dead, the signs on the building are gone.....

I don't know.  It does seem to me that these developers either didn't understand the Houston Market and how it is different than NYC or they were simply a few years too early --- perhaps in a few years Houston will be ready for "micro" units (or perhaps not). It is hard being first --- it is hard to set the trend --- and these folks either knew that they were early and took a calculated risk to be first to market or were blind to the Houston market and went ahead anyway.

 

either way, they are now sitting on a nice piece of property that they can likely flip for a profit or hold a few more years and give something another go!

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I think more of the super small units at that $100k price point - and more importantly inside downtown, not 1/4 mile from the outskirts

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I have a few questions and a few propositions on this one. 

But the simplest question would be why wasn't it planned right beside a rail stop. 

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Probably a case of driver's blindness - its on Leeland (which has a rail stop just .7 miles away) and looks pretty close on a map.  When they bought the lot for this development, I bet you they drove there as opposed to taking the Purple line

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when this was proposed, the rail line wasn't open yet. 

 

But, to your point, I bet they didn't get out of their vehicles at the location on Leeland and walk to down to Scott street.

 

it is very bike friendly location though, less than half a mile to a dedicated bike path.

 

Imagine though, a concept like the ivy near the soccer stadium, like where the circuit apartments are. that could maybe work. and that's maybe.

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That's part of it, I don't remember when the rail opened and this tower was proposed, or the rail was proposed or anyone knew where it was going to be proposed. (Which begs political and legal questions, I suddenly realize.) 

And I'm not saying I don't like the idea. On the whole, I do. 

But a part of me is playing imaginary sims. The "concept" (as you put it well) by the soccer stadium or even along the rail on the UH side of 45. 

Tangent: The Gensler by Design crew has a supercool concept very near the soccer stadium title Loop 720. 

Edited by EllenOlenska
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I hope I'm wrong, but that looks like interior demo for a re-purposing of the existing buildings. I don't think they would worry about removing interior debris if they were going to raze the structure.

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