Urbannizer Posted March 9, 2016 Share Posted March 9, 2016 Proposed multifamily project in River Oaks on Mimosa Street, near Spann Street. SubdivisionPlatPDF_MimosaTerrace.pdf 6 Quote Link to comment Share on other sites More sharing options...
towerjunkie Posted March 10, 2016 Share Posted March 10, 2016 Whoa.... it happened, it actually happened. Someone decided to plop something on Mimosa... 1 Quote Link to comment Share on other sites More sharing options...
AREJAY Posted March 10, 2016 Share Posted March 10, 2016 Well, that have an... interesting Facebook page. Looks like they deal with mostly wholesaling distressed properties. https://www.facebook.com/CitiscapeInvestments/ 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted March 10, 2016 Author Share Posted March 10, 2016 Site: https://www.google.com/maps/place/2240+mimosa+houston+tx/@29.747567,-95.4146905,3a,75y,350.31h,90t/data=!3m4!1e1!3m2!1susQGlMdwBewQPIedg9uabg!2e0!4m2!3m1!1s0x0:0x7b30bde8292ae1c0?sa=X&ved=0ahUKEwicl4mM-7TLAhUFLSYKHVD6AcUQxB0IHTAA 3 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted March 10, 2016 Share Posted March 10, 2016 Don't we have an insider who has properties on Mimosa? 1 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted March 10, 2016 Share Posted March 10, 2016 14 hours ago, cloud713 said: Don't we have an insider who has properties on Mimosa? Kitty Kat's time to shine! 5 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted November 13, 2016 Author Popular Post Share Posted November 13, 2016 7-story, 11 unit condo building. http://www.mimosaterrace.com/ 11 Quote Link to comment Share on other sites More sharing options...
db650 Posted November 13, 2016 Share Posted November 13, 2016 Not bad. It will be interesting to see how pricing stacks up against the Revere around the corner, which I think is a pretty boring building with a high price tag (and that I hear is not selling well). With all of the 7 figure town homes not selling in this area, I wonder if this will find buyers. I also wonder if neighborhood opposition, which seemed to kill Revere Place nearby, will also come. 1 Quote Link to comment Share on other sites More sharing options...
monarch Posted November 13, 2016 Share Posted November 13, 2016 ^^^ beautiful and quite expensive. very miamiesque..... 1 Quote Link to comment Share on other sites More sharing options...
jmitch94 Posted November 13, 2016 Share Posted November 13, 2016 I like all the plants 2 Quote Link to comment Share on other sites More sharing options...
db650 Posted November 15, 2016 Share Posted November 15, 2016 Starting at 2 million. Looks very nice with great floor plans (and on a per square foot basis cheaper than the inferior Revere building across the street; in fairness, Revere has more common amenities and is 3 times the size). But a bit skeptical this (or Revere) gets built given glut of seven figure townhouses/patio homes already built or in the middle of construction in the neighborhood that are cheaper than these buildings, with comparable finishes (but still struggling to sell). http://www.har.com/mimosa-terrace/highrise_190 2 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted November 16, 2016 Author Share Posted November 16, 2016 http://swamplot.com/leafy-green-mustaches-to-help-latest-planned-mimosa-dr-condo-midrise-blend-in/2016-11-15/ http://www.har.com/2240-mimosa--2b/sale_52763564 Quote A REP FROM Citiscape tells Swamplot that the company will be starting up presales for 11 multi-million-dollar condo units in the 7-story midrise it’s planning for 2240 Mimosa Dr. The building would replace the 1965 apartment complex currently occupying the space (half a block east from the corner with Revere St. where that other condo midrise project got tangled in a protracted variance request fight last fall). Citiscape’s chief designer says the project is designed to eventually “fade into the landscape” with the help of some up-the-wall greenery on the facade. Ledges on each of the 6 residential floorsalso appears to support some over-the-edge greens. Per the current plans, the top floor would be occupied by a single penthouse, while the 5 floors below it would be split into 2 units of 3 bedrooms each. The price tags on those start at just below $2 million for a 4,400 sq.-ft. unit on the 2nd floor; both numbers appear to rise with elevation up to the $2.65 million, 4,486-sq.-ft. units on the 6th story. Here’s one of the layouts currently on display on the trio of HAR listings for the midrise. The ground floor will be mostly occupied by parking spots. 6 Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted November 16, 2016 Share Posted November 16, 2016 That floor plan is a hot mess. 8 Quote Link to comment Share on other sites More sharing options...
cspwal Posted November 16, 2016 Share Posted November 16, 2016 I could actually see that working well for a family - parents stay on the right hand side, and the kids are on the left hand side with their own play area. But yeah it doesn't look aesthetically pleasing at all Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted November 17, 2016 Share Posted November 17, 2016 http://www.bizjournals.com/houston/news/2016/11/17/developer-unveils-condos-with-one-of-the-largest.html?ana=twt 1 Quote Link to comment Share on other sites More sharing options...
cspwal Posted November 17, 2016 Share Posted November 17, 2016 Just noticed - the living room on this floor plan is larger than my first apartment, and the master suite is larger than my current apartment 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted November 19, 2016 Author Share Posted November 19, 2016 http://www.bizjournals.com/houston/news/2016/11/18/houston-real-estate-company-sees-bright-future-in.html Sudhoff Cos. sees a bright future in Houston’s luxury condominium market despite the oil slump. Although high-end home sales have slowed during the energy downturn, several Houston developers have partnered with the Houston real estate company to build luxury midrise condo projects across the Bayou City. “We need more,” said Jacob Sudhoff, CEO and founder of Sudhoff Cos. “The market is demanding more.” Citiscape International is planning to build Mimosa Terrace, a seven-story, 11-unit condo project at 2250 Mimosa Drive. Around the corner on the same block, Pelican Builders is planning to build The Revere at River Oaks, a nine-story, 33-unit condo project at 2325 Welch St. Both projects also sit on the same block as Randall Davis Co.’s successful Chateau Ten condominium midrise. Sudhoff said he worked with both Citiscape International and Pelican Builders to ensure they were not in direct competition with each other’s condo projects. The Revere at River Oaks features units ranging in size from 2,720 square feet to 3,900 square feet. On the other hand, units in Mimosa Terrace feature one of the largest floor plans in Houston, averaging more than 4,400 square feet. “We didn’t want them cannibalizing sales from each other,” Sudhoff said. 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted March 26, 2017 Author Share Posted March 26, 2017 http://www.mimosaterrace.com 7 Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted March 26, 2017 Share Posted March 26, 2017 6 Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted March 26, 2017 Share Posted March 26, 2017 Darn good looking 1995 Buick. (Or something!) 2 Quote Link to comment Share on other sites More sharing options...
mollusk Posted March 27, 2017 Share Posted March 27, 2017 actually, a late 80s Caprice 4 Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted October 24, 2017 Share Posted October 24, 2017 Some listings have shown up on HAR http://www.har.com/2240-mimosa--2b/sale_59181430 2 Quote Link to comment Share on other sites More sharing options...
db650 Posted January 17, 2018 Share Posted January 17, 2018 Wondering if this is dead. HAR listings are gone. I also heard last month that sales were very slow and they were thinking of shrinking some of the floor plans on lower levels to reduce entry price point. Quote Link to comment Share on other sites More sharing options...
db650 Posted May 22, 2018 Share Posted May 22, 2018 Project is still alive. Now with revised and smaller floor plans. The building is going from 11 to 15 units, with presumably a lower starting price. 6 Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted May 23, 2018 Share Posted May 23, 2018 http://www.mimosaterrace.com 16 homes according to their website 3 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted June 4, 2019 Author Share Posted June 4, 2019 On 5/22/2018 at 1:38 PM, db650 said: Project is still alive. Now with revised and smaller floor plans. The building is going from 11 to 15 units, with presumably a lower starting price. Listings are back online: https://www.har.com/search/flyer/10206854/?customer=1 3 1 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted June 8, 2019 Share Posted June 8, 2019 There’s an open house today? I must go see Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted June 8, 2019 Share Posted June 8, 2019 During my showing I was told construction would start in Spring 2020. 2 2 Quote Link to comment Share on other sites More sharing options...
db650 Posted June 9, 2019 Share Posted June 9, 2019 They will need to hit presales before construction begins. Last time they only presold 1 of 11 units so they redesigned the building with smaller units and didn’t market it for about a year. They also moved sales agencies. Sudhoff was their old agent and they seem to represent all the new high end construction. Not sure any of this will work. Has the builder Citiscsape put up multi-family in Houston before? Quote Link to comment Share on other sites More sharing options...
hindesky Posted June 9, 2019 Share Posted June 9, 2019 https://citiscapeteam.com/portfolio/ PAST PROJECTS VISTA MEDICAL CENTER HOSPITAL, PASADENA, TEXAS DYNACQ MEDICAL CENTER COMPLEX, GENERAL AND SPECIALTY HOSPITALS, RESEARCH INSTITUTES AND HOUSING, SHANGHAI, CHINA RIVERSTONE HOSPITAL, SHENANDOAH, TEXAS VISTA SPECIALTY HOSPITAL, SLIDELL, LOUISIANA VISTA SPECIALTY HOSPITAL, BATON ROUGE, LOUISIANA MOBILE INFIRMARY PROFESSIONAL OFFICE BUILDING, MOBILE, ALABAMA HOUSTON ACADEMY OF MEDICINE, HOUSTON, TEXAS HARRIS COUNTY HOSPITAL DISTRICT, HOUSTON, TEXAS VISTA SURGERY CENTER, PASADENA, TEXAS TEXAS MEDICAL CENTER LIBRARY, HOUSTON, TEXAS TEXAS INSTITUTE OF REHABILITATION AND RESEARCH, HOUSTON, TEXAS MOBILE INFIRMARY, OUTPATIENT AND REHABILITATION FACILITIES, MOBILE, ALABAMA BIOMEDICAL RESEARCH CENTER, OZAL MEDICAL CENTER, MALAYTA, TURKEY ALKEK GRADUATE SCHOOL OF BIOMEDICAL SCIENCES, BAYLOR COLLEGE OF MEDICINE, HOUSTON, TEXAS AMARILLO CLINIC AND RESEARCH, AMARILLO, TEXAS RESEARCH AND RESOURCE CENTER, BAYLOR COLLEGE OF MEDICINE, HOUSTON, TEXAS ST. AGNES ACADEMY, HOUSTON, TEXAS TEXAS MEDICAL CENTER LIBRARY, HOUSTON, TEXAS PARK TOWER PROFESSIONAL OFFICE BUILDING, HOUSTON, TEXAS SAN DIEGO HILTON, SAN DIEGO, CALIFORNIA MERRY INN, HOUSTON, TEXAS BEST VALUE INN, STAFFORD, TEXAS BEST VALUE INN HIGHWAY 6, HOUSTON, TEXAS ASAHI JAPANESE STEAK HOUSE, DENVER, COLORADO ASAHI JAPANESE STEAK HOUSE, HOUSTON, TEXAS ASAHI SUSHI HOUSE, DENVER, COLORADO ASIA GRILL, LEAGUE CITY, TEXAS CIVIL ENGINEERING DEPARTMENT, HONG KONG BIOCHEMISTRY DEPARTMENT EXPANSION AND RENOVATION, BAYLOR COLLEGE OF MEDICINE, HOUSTON, TEXAS PATHOLOGY DEPARTMENT EXPANSION AND RENOVATION, BAYLOR COLLEGE OF MEDICINE, HOUSTON, TEXAS LAKE OLYMPIA – 1,000 ACRE MASTER PLANNED COMMUNITY, MISSOURI CITY, TEXAS VILLAS DI TUSCANY & WINDWATER VILLAGE – PATIO HOME COMMUNITY NEAR GALLERIA, HOUSTON, TEXAS ST. GEORGE’S PLACE – CUSTOM PATIO HOMES, GALLERIA AREA, HOUSTON, TEXAS INDIAN BAYOU – LUXURY CUSTOM PATIO HOME, HOUSTON, TEXAS WESTHAVEN ESTATES – LUXURY PATIO HOMES & TOWNHOMES, TANGLEWOOD, HOUSTON, TEXAS FANNIN DENTAL CLINIC – FREESTANDING DENTAL CLINIC, DR. WALTERS, HOUSTON, TEXAS WOODLAND HILLS CROSSING – 23,000 SF SHOPPING RETAIL CENTER, HARRIS COUNTY TIMMY CHAN RESTAURANTS, HOUSTON, TEXAS CHINA BEAR RESTAURANTS, HOUSTON, TEXAS PORTSMOUTH RESIDENCE, UPPER KIRBY PATIO HOME, HOUSTON, TEXAS MALONE RESIDENCE, WASHINGTON DISTRICT, HOUSTON, TEXAS KINGWOOD EMERGENCY HOSPITAL, KINGWOOD, TEXAS (IN PROGRESS) ASIAN HERB CENTER, HOUSTON, TEXAS HARWIN TIME SQUARE, HOUSTON, TEXAS AVIS RENT A CAR, HOUSTON, TEXAS UNCLE BOB STORAGE, THREE LOCATIONS, HOUSTON, TEXAS CROW VALLEY RESIDENCE, MISSOURI CITY, TEXAS 107 PALM RESIDENCE, MISSOURI CITY, TEXAS VERSAILLES ESTATE CUSTOM HOME, ROYAL OAKS, HOUSTON, TEXAS LOUISIANA HOMESTYLE KITCHEN, MISSOURI CITY, TEXAS BEIJING RESTAURANT (REMODELED), HOUSTON, TEXAS APPLEBEES RESTAURANT, FOUNTAINS (REMODELED), STAFFORD, TEXAS CROCKER SQUARE, HOUSTON, TEXAS HIDDEN COVE CT (IN PROGRESS), MISSOURI CITY, TEXAS WINDING HOLLOW PLAZA – 27,000 SF SHOPPING RETAIL CENTER, KATY, TEXAS BURKHART RESIDENCE, SPRING VALLEY, TEXAS LANDMARK HEIGHTS, MULTI-RESIDENTIAL DEVELOPMENT (IN PROGRESS), HOUSTON HEIGHTS, TEXAS MIYAKO RESTAURANT (COMPLETE RE-BUILD), WESTHEIMER, HOUSTON, TEXAS 39 RIVERSTONE, 26,000 SF RESIDENCE WITH INDOOR STEEL FRAME FACILITY (IN PROGRESS), FORT BEND, TEXAS 3 Quote Link to comment Share on other sites More sharing options...
db650 Posted June 9, 2019 Share Posted June 9, 2019 So no condos in their portfolio? It's very different than most of the retail/commercial or even some of the SFH projects they built. It makes the project less certain than if established condo developers were behind it. 2 Quote Link to comment Share on other sites More sharing options...
Angostura Posted June 10, 2019 Share Posted June 10, 2019 I'm sure there's a very specific market for this kind of building at this price point, but it seems... expensive? There's only about $100k in dirt per unit, so if you subtract that out, it's something like $660/s.f. This is something like 2-2.5x the density of a typical townhouse 6-pack (in both square footage and dwelling units per acre). If the market-clearing density for high-demand neighborhoods reaches the level where this kind of project becomes common, I think the pricing to would need to come down to the $300-400/sf level (a little above current wood-frame townhouse prices). Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted June 10, 2019 Share Posted June 10, 2019 (edited) 23 minutes ago, Angostura said: I'm sure there's a very specific market for this kind of building at this price point, but it seems... expensive? There's only about $100k in dirt per unit, so if you subtract that out, it's something like $660/s.f. This is something like 2-2.5x the density of a typical townhouse 6-pack (in both square footage and dwelling units per acre). If the market-clearing density for high-demand neighborhoods reaches the level where this kind of project becomes common, I think the pricing to would need to come down to the $300-400/sf level (a little above current wood-frame townhouse prices). The prices seem to be pretty well in line with comparable mid- and high-rise buildings in Houston. FWIW, the four units that are listed on HAR are listed at $611.61, $694.20, $659.97, and $949.71 (penthouse) per square foot. Edited June 10, 2019 by Houston19514 Quote Link to comment Share on other sites More sharing options...
Angostura Posted June 10, 2019 Share Posted June 10, 2019 2 hours ago, Houston19514 said: The prices seem to be pretty well in line with comparable mid- and high-rise buildings in Houston. I think that's right, but I think it's because these buildings serve a very specific niche of the market, for which the added price per s.f. and maintenance fees are justified by convenience/security/service/etc. Currently the buyer who wants 3 BRs for ~$300/sf is well served by the TH/SFH market (depending on the neighborhood), but there may soon come a time in certain neighborhoods where it's impossible to hit that price point if each unit comes with 2000 s.f. of dirt. At that point, someone with a 10,000 sf lot to develop may choose to build 12 x 2500-sf condos instead of 5 or 6 2500-sf THs. Quote Link to comment Share on other sites More sharing options...
db650 Posted June 10, 2019 Share Posted June 10, 2019 Need to compare apples to apples. How much more is concrete vs wood frame construction? The interior buildout is also very expensive vs builder grade finishes. Quote Link to comment Share on other sites More sharing options...
Timoric Posted June 10, 2019 Share Posted June 10, 2019 (edited) - Edited July 12, 2019 by Timoric Quote Link to comment Share on other sites More sharing options...
BeerNut Posted June 10, 2019 Share Posted June 10, 2019 3 hours ago, Timoric said: The Cosmo, the Mimosa, what is next? The Bellini 2 2 Quote Link to comment Share on other sites More sharing options...
cspwal Posted June 11, 2019 Share Posted June 11, 2019 19 hours ago, Timoric said: The Cosmo, the Mimosa, what is next? The Old Fashioned 3 4 Quote Link to comment Share on other sites More sharing options...
Popular Post KinkaidAlum Posted June 11, 2019 Popular Post Share Posted June 11, 2019 Trump branded twin towers; The Moscow Mule and The White Russian. 4 6 Quote Link to comment Share on other sites More sharing options...
Luminare Posted June 11, 2019 Share Posted June 11, 2019 (edited) 9 minutes ago, KinkaidAlum said: Trump branded twin towers; The Moscow Mule and The White Russian. Just don't put the "Kamikaze" next to these "twin towers", ok? Edited June 11, 2019 by Luminare 1 1 1 Quote Link to comment Share on other sites More sharing options...
Highrise Tower Posted August 27, 2019 Share Posted August 27, 2019 2 Quote Link to comment Share on other sites More sharing options...
db650 Posted August 27, 2019 Share Posted August 27, 2019 I think that’s an old rendering from the last version of this building. Any update on if they sold a single unit? I am worried about the viability of this building given that it failed to get much interest the last time around. I did hear that the builder wants to occupy an entire floor of this building but it won’t count for presales to get loan. Quote Link to comment Share on other sites More sharing options...
Luminare Posted August 27, 2019 Share Posted August 27, 2019 (edited) - Edited August 27, 2019 by Luminare Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted August 27, 2019 Share Posted August 27, 2019 9 hours ago, Luminare said: - Some of your best work my friend 1 2 Quote Link to comment Share on other sites More sharing options...
db650 Posted November 20, 2020 Share Posted November 20, 2020 Walked by the other night. 16 units and “breaking ground 2021.” Not sure if they sold any. The only progress since last year looks to be this new sign. 4 Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted January 16, 2021 Share Posted January 16, 2021 (edited) Units for sale on HAR https://www.har.com/homedetail/2240-mimosa-dr-3n-houston-tx-77019/15143619 https://www.har.com/homedetail/2240-mimosa-dr-ph-7w-houston-tx-77019/15327066 Edited January 16, 2021 by HoustonMidtown 1 Quote Link to comment Share on other sites More sharing options...
Angostura Posted January 18, 2021 Share Posted January 18, 2021 I know there's a market for these units at this price point, but the price per s.f. on these developments never ceases to amaze. At $4.3M for 4300 sf, you're paying almost twice the going rate per s.f. for single-family houses on generously sized lots within a couple blocks. And for the $2600/month in condo fees, you could pay someone to pick up the mail and handle the yard work. 1 Quote Link to comment Share on other sites More sharing options...
astrohip Posted January 18, 2021 Share Posted January 18, 2021 1 hour ago, Angostura said: I know there's a market for these units at this price point, but the price per s.f. on these developments never ceases to amaze. At $4.3M for 4300 sf, you're paying almost twice the going rate per s.f. for single-family houses on generously sized lots within a couple blocks. And for the $2600/month in condo fees, you could pay someone to pick up the mail and handle the yard work. Most people who move to condos don't do it for the money. It's not whether it's more or less than your SF residence was, it's "condo life". As someone who made the house>condo move a couple years ago, I can tell you from talking to my fellow residents, there is not one single person who factored money into the equation. It's the lock & leave lifestyle, it's security concerns, it's having packages accepted for you 24/7, it's not having to worry about the roof or the A/C or the yard or the pool or floods... or anything. Maybe at some price point, or in some parts of the country, condo vs SFH is a real debate. But in the upper end segment of Houston condos, it's a lifestyle choice, not a $$$ one. Just my .02 5 Quote Link to comment Share on other sites More sharing options...
Angostura Posted January 19, 2021 Share Posted January 19, 2021 On 1/18/2021 at 12:13 PM, astrohip said: Most people who move to condos don't do it for the money. It's not whether it's more or less than your SF residence was, it's "condo life". As someone who made the house>condo move a couple years ago, I can tell you from talking to my fellow residents, there is not one single person who factored money into the equation. It's the lock & leave lifestyle, it's security concerns, it's having packages accepted for you 24/7, it's not having to worry about the roof or the A/C or the yard or the pool or floods... or anything. Maybe at some price point, or in some parts of the country, condo vs SFH is a real debate. But in the upper end segment of Houston condos, it's a lifestyle choice, not a $$$ one. Just my .02 I understand the dynamic, it's just the opposite of the way things work in (actually dense) cities where land value drives the economics. In places where 90% of the population lives in a multi-family building, where floor area ratios are seldom below 4.0, an apartment being more expensive than a standalone house would be unthinkable. I'm guessing the demand curve is very steep. Doing a very small number of these probably means each one is very profitable (that penthouse alone is probably a 7-figure profit to the developer), but once you get beyond the people for whom it's a lifestyle choice, the market-clearing price drops a lot. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted January 19, 2021 Share Posted January 19, 2021 (edited) Another thing to consider is how big of a house do people want? If you don't want 3,000 square feet, your options in River Oaks are pretty limited. In the part of river Oaks between Shepherd and Kirby I only find 5, two of which are marketed for lot value. The per square foot asking price of the other three: $641.03 $763.51 $570.38 (and probably needs updating, for most buyers) If one wants to stay under 2,000 square feet (the size of the first Mimosa Terrace example), your only option in River Oaks is to buy a lot or a tear-down and build. In the area between Shepherd and Kirby that will run you anywhere from $825,000 to $1.9 Million. For a 1,947 square foot residence (the size of the Mimosa Terrace example), that puts you at $423.73 - $975.86/square foot before construction. I also don't think Houston's prices of condos vs single-family are particularly unusual compared to other cities. It is almost certainly hyperbole to say that an apartment being more expensive (per square foot) than a standalone house would be unthinkable in other (actually dense) cities. For example, apartments selling for higher prices per square foot than nearby single-family residences in Chicago is clearly not unthinkable. Edited January 19, 2021 by Houston19514 1 Quote Link to comment Share on other sites More sharing options...
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