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Co-Op At Summer Street: Apartment Midrise; Townhomes Near Studemont Junction


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From https://www.bizjournals.com/houston/news/2019/04/22/houston-developer-to-buy-land-near-washington-ave.html:

 

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Houston developer to buy land near Washington Ave. for apartments, townhome rentals

Houston-based Urban Genesis, the developer that selects small tracts of land for more boutique-style apartment buildings with fewer units in popular locations, is buying land for another project near the Washington Corridor.

 

The company plans to close this week on 2.3 acres near Summer Street and Studemont for a new 200-unit project called Co-op at Summer Street, expected to break ground this summer.

 

Co-op at Summer Street will have about 150 apartment units and 50 townhomes, said Matt Shafiezadeh, who oversees strategy and investments for the group. Urban Genesis apartment projects have been “designed to take out dead weight in a complex,” he previously told the Houston Business Journal, meaning there likely won’t be a parking garage or business center as ways to help keep costs in check.

 

Townhomes for rent will be a new lane for Urban Genesis in Houston, Shafiezadeh said. The mostly three-story units will rent for around $2,400 a month. These options are intended to meet the needs of those who want to move out of apartments but may not have the cash on hand for a downpayment, he said. In essence, the rental equivalent of a starter home.

 

Houston-based Dosch Marshall Real Estate represented both the buyer and seller, Shafiezadeh said. He said the seller is a mix of local real estate investors.

 

The tract sits near Alliance Residential’s Broadstone Studemont project at 3030 Summer St. This land was originally proposed for the mixed-use development known as Studemont Junction, which was initially slated to be completed by 2017.

 

Plans for the mixed-use project included upscale apartments as well as retail including grocers, restaurants and health care.

 

In January, permits filed with the city of Houston signaled another mixed-use project in the area was moving forward.

 

An entity named Maple Multi-Family Lower Heights filed $45.76 million in permits with the city for both commercial and residential construction at 2770 Summer St. for a retail shell, open-air parking garage and apartments labeled Alexan Lower Heights, HBJ previously reported. Requests for comment from Trammell Crow Residential, the developer behind the Alexan brand, weren’t returned at the time.

 

Shafiezadeh said developers in the area, including Alliance Residential and Trammell Crow Residential, were working with the city to extend the White Oak hike and bike trail there.

 

Meanwhile, Urban Genesis could modify its Heights-area White Oak Highline design if it’s not granted an off-street parking variance.

 

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Urban Genesis apartment projects have been “designed to take out dead weight in a complex,” he previously told the Houston Business Journal, meaning there likely won’t be a parking garage or business center as ways to help keep costs in check.

 

I like this idea for Houston, but I'm not sure a location with a 48/100 transit score will give it the best chance of success. Maybe this is a design based on street parking and not transit?

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11 minutes ago, Alec said:

 

I like this idea for Houston, but I'm not sure a location with a 48/100 transit score will give it the best chance of success. Maybe this is a design based on street parking and not transit?

Good point.
I assume that if there won't be a parking garage that other accommodations will have to be made. Surface parking? Parking built into the building (as in 'dingbat' apartments)?
Also, is a business center the same as a rental office? With the explosion in online shopping, many tenants rely on having an office where packages can be delivered and claimed. 
Will there be no on-site management? With that many units some oversight is required to be sure that tenants are behaving themselves.
Surely these matters cannot be dismissed as "dead weight".

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2 hours ago, CrockpotandGravel said:



No duh. I know that which is why I quoted the portion of the article that says that.

The purpose of the threads is to keep up updates on building plans, construction, and so on. And in those threads, even you yourself, will make a post or change the title to notate that the project has changed direction, changed hands, changed its name, or is no longer happening and continue the thread with the replacement project. The Studemont Junction thread falls under those same parameters. 

Also it helps when searching and reading through the thread to see that portion of the land is now being developed into something else.

I don't know why you'll do the same thing I wrote above for every other project, but for this, do something completely different by adding this as a new thread of its own. That's why I posted what I posted because that's not what you usually do. 

 

Chill dude 😂

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7 hours ago, CrockpotandGravel said:



No duh. I know that which is why I quoted the portion of the article that says that.

The purpose of the threads is to keep up updates on building plans, construction, and so on. And in those threads, even you yourself, will make a post or change the title to notate that the project has changed direction, changed hands, changed its name, or is no longer happening and continue the thread with the replacement project. The Studemont Junction thread falls under those same parameters. 

Also it helps when searching and reading through the thread to see that portion of the land is now being developed into something else.

I don't know why you'll do the same thing I wrote above for every other project, but for this, do something completely different by adding this as a new thread of its own. That's why I posted what I posted because that's not what you usually do. 

 

Your saying this as if all of Studemont Junction has been scrapped. There’s a few retail spots and apartments that do exists.

 

I’ve merged projects related to a complex, like Sawyer Yards, because most are just smaller retail structures that carry the same name and/or developer. If Co-Op at Summer Street was planned as a later phase to Studemont Junction, then it’d be a different story here.

 

 

Thread stays put.   

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7 hours ago, CrockpotandGravel said:



No duh. I know that which is why I quoted the portion of the article that says that.

The purpose of the threads is to keep up updates on building plans, construction, and so on. And in those threads, even you yourself, will make a post or change the title to notate that the project has changed direction, changed hands, changed its name, or is no longer happening and continue the thread with the replacement project. The Studemont Junction thread falls under those same parameters. 

Also it helps when searching and reading through the thread to see that portion of the land is now being developed into something else.

I don't know why you'll do the same thing I wrote above for every other project, but for this, do something completely different by adding this as a new thread of its own. That's why I posted what I posted because that's not what you usually do. 

 

By that logic, the 609 Main thread should be folded into the Shamrock Tower thread.

 

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On 4/23/2019 at 1:51 PM, Alec said:

 

I like this idea for Houston, but I'm not sure a location with a 48/100 transit score will give it the best chance of success. Maybe this is a design based on street parking and not transit?

 

I know they are currently working with the city on a plan to extend or create a bike trail on the east side of the property, which would run between Co-Op and Broadstone Summer Street, with it connecting to Spotts Park. I believe there should be parking on the ground level, like one of their other projects as well. 

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Dumb question probably... I know where the new apartments are.

 

Are townhomes going in on the West side of the current apartment?

Is the Co-Op going in to the East of the current apartment?

 

Are both going in West? Thanks in advance...

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On 7/2/2019 at 10:07 AM, Avossos said:

Dumb question probably... I know where the new apartments are.

 

Are townhomes going in on the West side of the current apartment?

Is the Co-Op going in to the East of the current apartment?

 

Are both going in West? Thanks in advance...

 

Co-Op includes both the townhouses and the apartments. Both will be on the lot west of Broadstone Summer Street

 

Edit: East to West

Edited by ErickEdgar
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Those look kind of like the David Weekly townhomes you see in Midtown and the Heights. I ....like it?

 

Alot of people focus on apartments and condos coming in the loop, but seeing such tight townhome in-fill is just as good if not better because it shows that Houston residents can embrace a house that isn't a 2500 sq foot house on a fifth of an acre. And it shows full families moving into these areas. Exciting! 

Edited by X.R.
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  • Highrise Tower changed the title to Co-Op at Summer Street: New Apartment Mid-Rise; Townhomes Near Studemont Junction
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Back Bay, South End, North End, and much of Southie (South Boston) was mostly brick but a lot of triple deckers in Southie, Dorchester, and Jamaica Plain neighborhoods were wood framed. Across the river, Cambridge is a mix of brick and wood but Somerville (Slumerville) is almost entirely wood.

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15 minutes ago, KinkaidAlum said:

Back Bay, South End, North End, and much of Southie (South Boston) was mostly brick but a lot of triple deckers in Southie, Dorchester, and Jamaica Plain neighborhoods were wood framed. Across the river, Cambridge is a mix of brick and wood but Somerville (Slumerville) is almost entirely wood.

 

Even the wood ones probably have more appeal though. I think a lot of houses with this kind of modern siding aren't going to age well aesthetically speaking. The color palettes are so austere, too.

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  • Highrise Tower changed the title to Co-Op At Summer Street: New Apartment Mid-Rise; Townhomes Near Studemont Junction
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Wonder what types of renter this will attract. It's not that much cheaper monthly than the rest of the cookie cutter wrap apartments, and probably more per square foot. And you miss out on the pool, gym (?) etc. I'm assuming it has an elevator but maybe just one slow one. I don't know how much the savings on the structured parking and amenities will actually be passed down, and having a multistory parking is great for hurricane season.

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2 hours ago, Squirrel said:

Wonder what types of renter this will attract. It's not that much cheaper monthly than the rest of the cookie cutter wrap apartments, and probably more per square foot. And you miss out on the pool, gym (?) etc. I'm assuming it has an elevator but maybe just one slow one. I don't know how much the savings on the structured parking and amenities will actually be passed down, and having a multistory parking is great for hurricane season.

Is this area prone to flooding?

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7 hours ago, Urbannizer said:

Is this area prone to flooding?

I doubt it, the elevation is pretty high compared to to the rest of the area. Studemont to the right is pretty deep because it goes under the railroad and the terrain drops of dramatically to the north towards White Oak Bayou from this site.

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2 hours ago, hindesky said:

I doubt it, the elevation is pretty high compared to to the rest of the area. Studemont to the right is pretty deep because it goes under the railroad and the terrain drops of dramatically to the north towards White Oak Bayou from this site.

Right. The adjacent railroad wasn't built between the bayous just because it was convenient. It's the high point. I'd assume the property is a foot or more above street level and then it's another foot or two to get into all the vehicles. I would think most cars that flood in garages are parked on subterranean levels. Even if 100-200 cars flooded, I'd say that's preferred to 50-100 apartments that would flood at a wrap apartment. A centimeter of water will ruin a home's floors, but it takes a lot more to get into vehicles. I actually see this podium style as preferred.

12 hours ago, Squirrel said:

Wonder what types of renter this will attract. It's not that much cheaper monthly than the rest of the cookie cutter wrap apartments, and probably more per square foot. And you miss out on the pool, gym (?) etc. I'm assuming it has an elevator but maybe just one slow one. I don't know how much the savings on the structured parking and amenities will actually be passed down, and having a multistory parking is great for hurricane season.

The 2/2 townhome rentals at this property are about the same size/price as my place. My neighbors who rent them out lease them within days and rarely even get a sign up in the yard. That size townhome (1,400-1,500 sq ft) is hard to find still. It looks as if they are leasing for about the same price per square foot too. I don't see pricing for the apartments, but $50-$100/month can matter to a lot of people. Even if the price per sq. ft. is about the same, I'd say it's really the overall annual savings that matter more to most people looking to reduce expenses. If I wanted to save cash but needed to live in the area (save on gas/insurance/not waste hours driving), I'd sacrifice 100 sq. ft. and a pool to save $1,200/year. No question. Ditch the car and your savings pile up quick.

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  • Highrise Tower changed the title to Co-Op At Summer Street: Apartment Midrise; Townhomes Near Studemont Junction

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