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The Matrix: Residential At Reeves & Adair St, Near U of H


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  • 3 weeks later...
5 hours ago, monarch said:

^^^ is this for real?  really cool place.  however, why am i seeing a live baseball game being broadcasted via a HUGE LED screen upon the far left corner?  what exactly kind of exterior design trend is this.....?

So the hood -- I mean, university students can gather around.

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Website shows these will be around $125,000 for one unit, which doesn't sound all that bad until you realize they're just under 600 sqft. Though I can imagine a lot of UH grads will eat these up. I might even consider this...

 

Edit; Nvm, there are other floor plan options.

 

That 2018 completion date is so far though...

Edited by BigFootsSocks
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  • 2 years later...

Why does that first floor plans have 2 full bathrooms for 1 bedroom?  If they had made that front one a half bath, there would have been more storage space.  Also, why put the bathroom at the corner as opposed to the bedroom?  Weird choices

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57 minutes ago, cspwal said:

Why does that first floor plans have 2 full bathrooms for 1 bedroom?  If they had made that front one a half bath, there would have been more storage space.  Also, why put the bathroom at the corner as opposed to the bedroom?  Weird choices

That floor plan is weirding me out. 

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I really don't know what developers are waiting for but the Third Ward could be the best tapped area in the city.

 

It is close to downtown, it is in the loop, it is close to mass transit it is anchored by the third largest university in the state and many have eagerly  been waiting for this area to properly develop for decades!!

 

In my opinion, efficiencies for this low of a price is setting the bar pretty low. I envision this becoming another EADO in a decade or two. Look for developers to start to test the waters....imagine if it got an InTown Homes townhouse development, imagine a large mixed use project along Scott Street across from the campus. Imagine, a run on the lots with nice homes. This all could be reality.

 

In know, the catchment area right now doesn't support development but many UH grads, professors, students, etc.   have been waiting for the Third Ward to get its act together and catch up with the rest of the booming parts of the city. There is absolutely no reason why it shouldn't. 

 

Let's home this project starts the momentum...because it is happening ..just a matter of WHEN not IF.

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On 4/22/2020 at 2:34 PM, phillip_white said:

A permit was issued for this site on 3/20 [(EPR) NEW 81,853 SQ FT CONDO'S 1-5-3-R2-] but I'm not sure what it's for.

It might be a glimmer of hope for this project.

Must have been a permit to mow the weeds.

n7xezPk.jpg

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On 7/8/2019 at 9:38 AM, cspwal said:

Why does that first floor plans have 2 full bathrooms for 1 bedroom?  If they had made that front one a half bath, there would have been more storage space.  Also, why put the bathroom at the corner as opposed to the bedroom?  Weird choices

I assume you could have guest or kids sleeping on the sofa bed that will need a full bath. It looks like the plans with beds only are actual sleeper sofas.

Edited by Stew
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5 minutes ago, Stew said:

I'm curious. Why would anyone pay $125,000 for these incredibly small condos? They should have made them student housing. 

 

Screenshot_20201107-170730_Samsung Internet.jpg

I guess they think this is Austin where they can turn them over after the kid graduates and make a profit.

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17 hours ago, hindesky said:

I guess they think this is Austin where they can turn them over after the kid graduates and make a profit.

That's exactly my thoughts. Plus, the idea of not having to move every year for four years is appealing.

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I think people also need to keep in mind just how many foreign students there are at UH. Coming home every summer for the whole summer isn't really an option for them, but their folks do have enough to send their kids off to the States for school. At this price, it's pretty perfect for them.

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1 minute ago, JBTX said:

I think people also need to keep in mind just how many foreign students there are at UH. Coming home every summer for the whole summer isn't really an option for them, but their folks do have enough to send their kids off to the States for school. At this price, it's pretty perfect for them.

But would you pay $125,000 for a 528 square feet condo in third ward with dilapidated properties adjacent to you? Oh and live in it.

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16 minutes ago, Stew said:

But would you pay $125,000 for a 528 square feet condo in third ward with dilapidated properties adjacent to you? Oh and live in it.

Depends on how long you think those dilapidated properties will continue to be there.  As someone that bought property in Third Ward six years ago, things changed quick once development tipped over a certain point.

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2 hours ago, Stew said:

But would you pay $125,000 for a 528 square feet condo in third ward with dilapidated properties adjacent to you? Oh and live in it.

 

Honestly? Yeah.

 

I mean that solely from personal experience too, not to denigrate your opinion. I lived on campus for four years during my time at UH without issue (I am also a not small male).

 

Boughta house in 2nd ward just before the boom there. I was (and still partially am) surrounded by cinderblock homes, dilapidated homes, and vagrants.

 

It works for me because I don't mind it and am totally game to pay a lower starting cost for greater long term opportunity.

 

Circling back to these properties, I'm gonna go out on a limb and say that, if an incoming freshman's parents pick one of these up at 125, they will get their money back and then some in 4 years.

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  • The title was changed to The Matrix: Proposed Residential At Reeves & Adair St, Near U of H
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Looking at the construction pics above, there seems to be a change. The garage is now one level instead of two shown in the rendering. I assume some residents will park along the street. 😒

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6 hours ago, Texasota said:

Or not park. Still no nearby grocery store, but otherwise there is less and less reason to need a car as a student living near campus.

I think students will not be able to afford these $145,000 tiny condos. I suppose investors could buy them up and rent them out to students. 

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On 1/29/2021 at 3:49 PM, Stew said:

I think students will not be able to afford these $145,000 tiny condos. I suppose investors could buy them up and rent them out to students. 

Bank of Mom & Dad...  I think UH is trending toward what happens near large colleges in other cities.  Parents buy a house/condo for kids while in college.  Rent out the extra rooms if any...once kid graduates sell or keep depending on what makes the most sense.

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The house near the project has changed their rant. I guess they may have gotten covid and it's no longer a scam but now "socialism is slavery". I wonder if they have refused to collect their Social Security?<_<

zTAebSo.jpg

xXsJDOY.jpg

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  • The title was changed to The Matrix: Residential At Reeves & Adair St, Near U of H
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