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Mixed-Use Development by Moody National at 9655 Katy Fwy

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http://www.chron.com/business/real-estate/article/Moody-National-buys-prime-Memorial-tract-for-7506279.php

 

Moody National Cos. has purchased a vintage apartment complex on a prime site in the Memorial area for a future development.

 

The Houston-based company has purchased Le Renaissance apartments on 4.5 acres at 970 Bunker Hill Road, just south of Interstate 10, according to commercial real estate firm Transwestern. The company will operate the 164-unit complex in the short-term, but eventually plans a mixed-use development with office and retail space on the site.

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I'm surprised Metronational didn't purchase this property to expand their mixed use development across Bunker Hill. I think ther they already own the long vacant Toys-R-Us property next door.

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1 hour ago, Moore713 said:

Feel like a lot of developers gear up for next cycle 

 

I'm getting the same hunch

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11 hours ago, Fortune said:

I'm surprised Metronational didn't purchase this property to expand their mixed use development across Bunker Hill. I think ther they already own the long vacant Toys-R-Us property next door.

I was thinking that Moody had secured this property... 

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Still not sure if this was topic was posted anywhere else, but there was a backhoe on site yesterday tearing up the old Toys R Us parking lot. 

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3 minutes ago, Urbannizer said:

Found it, merged


Thank you, you're a wizard Urb!

It looks like this site (Toys R Us) is adjacent to their original plan where the apartments are currently located. Possibly a phase I with phase II to follow at the original location? 

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2 hours ago, BigFootsSocks said:

This has started construction.

 

You sure? I thought i saw them renovating the old apartments and painting / freshening up the exterior....

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1 hour ago, Avossos said:

 

You sure? I thought i saw them renovating the old apartments and painting / freshening up the exterior....

Renovating? The demolished the whole strip center/old toys R us. They are demoing an old motel one lot over as well so something else might come up near it later. 

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4 hours ago, Avossos said:

 

You sure? I thought i saw them renovating the old apartments and painting / freshening up the exterior....

This is where the old toys R Us was right? They had renderings of this on the fence around it when they were demoing it and if you take the on ramp to I-10 from Bunker Hill headed East you can see they’re doing some pretty heavy foundation work.

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On 6/4/2019 at 7:09 PM, BigFootsSocks said:

This is where the old toys R Us was right? They had renderings of this on the fence around it when they were demoing it and if you take the on ramp to I-10 from Bunker Hill headed East you can see they’re doing some pretty heavy foundation work.

 

This is corroborated with the site plan which nobody has done yet.

 

m4QwLV1.jpg

 

The site with the apartments must be a future phase.

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Crane is up. My attempt at a photo from the highway was unsuccessful unfortunately.

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This one is flying up. Really fast progress. Not sure if there is a known delivery date, but vertical construction might be done before the end of the year at this rate.

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A new retail tenant for Village Tower or Village Tower Plaza at 9655 Katy Fwy  ( 9655 Katy Freeway ) in the Memorial area of Houston: Treebeards. I think this is the first west Houston location for the restaurant / cafeteria.

I don't know if this will be in Village Tower I or Village Tower II.
 

Village Tower (or Village Tower Plaza ) is the new mixed use development from Moody National Cos. It's under construction in Hedwig Village.

 

Edited by CrockpotandGravel
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Masraffs also moving here. HBJ says May 2020.

Original plan was to tear down apartments and build one big mixed used development (River Oaks District lite). New owner realized the old apartments are very profitable so decided to keep and fix them up. No Phase 2 planned as of now.

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15 hours ago, dochawg said:

Masraffs also moving here. HBJ says May 2020.

Original plan was to tear down apartments and build one big mixed used development (River Oaks District lite). New owner realized the old apartments are very
profitable so decided to keep and fix them up. No Phase 2 planned as of now.



Thanks!  

More on Masraff's move to Village Tower (or Village Tower Plaza ), the new mixed use development from Moody National Cos. It's under construction  at 9655 Katy Fwy  ( 9655 Katy Freeway ) in Hedwig Village.


From the Houston Business Journal article (behind a paywall):



 

Masraff’s is moving from the Galleria area to the Memorial City area.
 

The iconic restaurant, which has lived at 1753 Post Oak Blvd. for almost 10 years, will move to the southeast corner of Bunker Hill and Interstate 10. The new location will be in a mixed-use development that Houston-based Moody National Cos. is building on the site of a former Toys R Us store. The new Masraff's is projected to open within the first two weeks of May 2020.
 

Owner Russell Masraff decided to move his restaurant for several reasons: The timing was right, as Masraff's lease will end April 30, 2020; construction along Post Oak Boulevard has been slowing customer traffic; and the uptick of restaurants in the Galleria area made competition fierce. Masraff believes that the area around his new location lacks high-end restaurants, and those that exist are primarily steakhouses.
 

“What’s best for us?” Masraff had asked himself when deciding where to move. “What’s going to give us the visibility, the accessibility, all the things that we are looking for? It came down to (the fact that) this property had everything we are looking for, including what I would say is a great landlord.”
 

Masraff’s will downsize in the move, going from 7,200 square feet and 180 seats in its current location to 5,700 square feet and 150 seats in the new location. 
 

The new space will be built by Matrix Contractors, which built out New Orleans-based BRG Hospitality’s Eunice, a Cajun-Creole brasserie in the Upper Kirby area. Kristen Perrin, who designed BPD, a Memorial-area bar that the Masraffs also own, will design the new Masraff’s. 
 

“I don’t want the same thing we have here,” Masraff said. “I want the new Masraff’s. I want a level of energy — not noise — I want energy. I want excitement. I want people to say, 'Wow,' when they walk in.”
 

A seafood display, maybe with sushi, will feature prominently in the front of the restaurant, Masraff said. A major feature will be a 15-foot-tall wine room in the back of the space; Masraff calls it a statement piece. 
 

The main dining room will have about 15 tables, but the new location also will include private rooms. One of the private rooms has windows and can hold 16 to 20 people; another can hold a total of 70 to 75 people or be divided into two rooms. 
 

An expansive patio will round out the space, with two sections on the north and south sides. 
 


More: https://www.bizjournals.com/houston/news/2019/10/29/exclusive-galleria-area-restaurant-mainstay-to.html


 

Edited by CrockpotandGravel
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On 1/30/2020 at 2:32 PM, BigFootsSocks said:

I wonder when they’ll start on the other building.

Looks like I’ll answer my own thought; they’re digging what looks to be the foundation for the next one. Had a feeling it would be soon since the crane was still up. I wonder why they did it in this order though. 

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