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About a year and a half back I was lucky enough to experience the view from one of the penthouses at night. This was before the unit was built out, so there weren't any light fixtures (at all!) to cr

Here's a view of downtown from one of the towers. ] flickr leadingmodels

Thanks Eddie: It's a hot night. The mind races. You think about your knife; the only friend who hasn't betrayed you, the only friend who won't be dead by sun up. Sleep tight, mates, in your quilted

I know they are having problems absorbing these towers, but I have to admit they are some of the best looking buildings that have been built inside the loop in the last 5-10 years. They look spectacular from the park and even better from 288 or Almeda. I love how the Museum District has towers that randomly pop up out of the trees. This area has almost formed a skyline of its own.

Edited by roadrunner
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I know they are having problems absorbing these towers, but I have to admit they are some of the best looking buildings that have been built inside the loop in the last 5-10 years. They look spectacular from the park and even better from 288 or Almeda. I love how the Museum District has towers that randomly pop up out of the trees. This area has almost formed a skyline of its own.

The Mosaic towers have indeed formed their own skyline...and that new skyline blocks out half of the previously fantastic vista of the downtown skyline looking north up Almeda. :(

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The Mosaic towers have indeed formed their own skyline...and that new skyline blocks out half of the previously fantastic vista of the downtown skyline looking north up Almeda. :(

What is it with you people and views? I admit, I like them as much as anyone else, but it's the same story in Dallas. As soon as someone builds something that "blocks their view" they freak out. Calm down.

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Want to see Mosaic's "country cousin"?

In 2005-6 "The Glass House" was completed in Denver. Same general exterior (beautiful, in my book), 389 units, 8th floor pool/club room, twin towers atop 7 level garage, adjacent to picturesque park w/fast running S. Platte River at base. Beautiful finshes in all common areas, but cut corners on interior finishes (mediocre cabinets, etc.). Walk to downtown.

Pre-sale announcement followed by immediate 100% sellout. A year later, almost every "flipper" had been rewarded as +/- $300/sf presale went to

$400/sf + w/in a year. Currently still full, pricing holding up except for oddball view units, etc.. Why? Read TheNiche's insights as to location, above.

Marketed to young professionals/trust fund babies with an "edgy" campaign. Bought by empty-nesters, those who wanted a pied a terre prior to driving to the slopes, and a few folks who wanted to walk to work. Not the target crowd. It was hilarious to read the Glass House official blog

written by a chick who used terms like "peeps" ad nauseum, "communicating" with owners who just didn't want to "get it", dude.

If you want to see how a city got infill RIGHT, check out Riverfrontpark.com, and see how Denver did/is doing transit and infill. Denverinfill.com is also a top-notch "scorecard" site that does a great job of politically pressuring crap building owners and surface parking lot blighters.

BTW, Denver already has a "Pavillions" with mostly the same old bowling alley/music venue, etc. that is being hyped here. Denver attracts far more after hours folks d'town (huge convention city). Nevertheless, after 2-3 years Pavillions turned into a hangout for scary-looking kids from adjacent neighborhoods who panhandle, smoke, glare, skate and kill time. What they don't do is spend $, and there has been turnover from quality retail to

cheaper stuff. The almost-new movie theatre is so bad that I once had to endure the projectionist stopping the movie, turning up the lights and ejecting

several "patrons".

I hope the Houston Pavillions crowd learned, but I doubt it. Maybe Denver Pav. is a success (I don't know) but it is in no way a landmark Denverites are proud of...and they have a much more vibrant downtown scene.

I just don't see our Pavillions standing the test of time...but hey, it's not my $!. I would suggest lots of security (LOTS!) and a no-nonsense approach to loitering.

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Merged "Beware of the Monster" with exisiting thread about Mosaic. Removed "going up" from title, and moved from Going Up! to Texas Medical Center.

The second tower is still 'Going Up!'

For those of you contemplating renting a highrise residence in the near future, sources tell me that the smallest one-bedroom units here are starting at about $1,800 per month.

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For those of you contemplating renting a highrise residence in the near future, sources tell me that the smallest one-bedroom units here are starting at about $1,800 per month.

:blink: that should be interesting to see who actually rents these. we went and looked at some various places around houston this weekend. foreclosures a'plenty and prices are falling.

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  • 3 weeks later...
The second tower is still 'Going Up!'

And it's been renamed "Montage", now an all-rental tower.

Pretty sad when your naming contest originated here, much less picked the winner from the "unlucky" pile...

I'd link to the Sarnoff piece about the situation that was in today's paper, but their website doesn't have the link at the moment.

Edited by ChannelTwoNews
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And it's been renamed "Montage", now an all-rental tower.

Pretty sad when your naming contest originated here, much less picked the winner from the "unlucky" pile...

I'd link to the Sarnoff piece about the situation that was in today's paper, but their website doesn't have the link at the moment.

So according to this, the second towers name is "Montage"? well i find that hard to believe..

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The average price per square foot is $325.

No wonder. I just can't imagine paying that much plus .39 cents a month per square foot maintinence. The people who buy these things must be financial imbeciles. Even if you are super rich why would you just throw money away for no reason? You can get a townhouse in the same area for half the price per square foot with a lower maintinence fee, a private garage and it doesn't take an elevator ride to get outside.

When I first moved to Houston I looked at getting into a high-rise and just couldn't make financial sense out of it. Who buys these things?

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No wonder. I just can't imagine paying that much plus .39 cents a month per square foot maintinence. The people who buy these things must be financial imbeciles.

When I first moved to Houston I looked at getting into a high-rise and just couldn't make financial sense out of it. Who buys these things?

This is an entire discussion to itself, but since most of Houston isn't a population-dense city and home prices are still in check, it's hard to justify buying in a high rise unless you take into consideration the amenities(what's included in the maintenance fee) of most high-rises:

THESE are Avg's. Only

Landscaping: $25/month

Pool usage: $20/month

Workout facility (midscale w/privacy): $50 pp/month

Homeowners Insurance (but, renters insurance, $100/yr, is needed): $120/month

Standard Cable/Internet: $100/month

Water: $10

Total: $325

At some places, Electricity is also included, so go figure. It's not that bad of a deal at all, it's just all about what's included! ;)

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This is an entire discussion to itself, but since most of Houston isn't a population-dense city and home prices are still in check, it's hard to justify buying in a high rise unless you take into consideration the amenities(what's included in the maintenance fee) of most high-rises:

THESE are Avg's. Only

Landscaping: $25/month

Pool usage: $20/month

Workout facility (midscale w/privacy): $50 pp/month

Homeowners Insurance (but, renters insurance, $100/yr, is needed): $120/month

Standard Cable/Internet: $100/month

Water: $10

Total: $325

At some places, Electricity is also included, so go figure. It's not that bad of a deal at all, it's just all about what's included! ;)

Still doesn't make sense to me. Why buy in this high rise when you can have a townhouse in the same neigborhood that's bigger has a private garage and costs less per sf?

Also, go up a little in the sf on a high rise and that maintinence fee goes into crazy land.

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Still doesn't make sense to me. Why buy in this high rise when you can have a townhouse in the same neigborhood that's bigger has a private garage and costs less per sf?

Also, go up a little in the sf on a high rise and that maintinence fee goes into crazy land.

View

Snobbery and/or Exclusivity

Security (real or perceived)

Phallic Symbology

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  • 3 weeks later...
Some people like one thing while others like something else. No reason to put them down.

I'm not putting anyone down. I'm providing explanation.

I like Mosaic and would be willing to pay a premium to live there for just the reasons I mentioned--only not THAT much. If you like it too and have further reasons, then by all means contribute to my list.

EDIT: Should I take it as an insult that you perceived my reasoning for liking Mosaic as a personal insult!? I merely accept facets of my own taste. If you think that that was me putting someone else down, then your opinion of me must be dismal. It's almost as though...you've put me down. :blink:

Edited by TheNiche
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  • 4 weeks later...

Mosaic's developer files Chapter 11 protection

The developer of the Mosaic condominium tower on the edge of Hermann Park has filed for bankruptcy protection, another sign that the national recession and credit crunch is affecting the Houston real estate market.

The developer, 5925 Almeda North Tower LP, made the Chapter 11 filing in U.S. Bankruptcy Court for the Southern District of Texas on Monday. Assets were listed at $85 million and debts at almost $52 million.

The Mosaic project was announced in 2005 and twin towers were developed at the 5925 Almeda site.

The second tower, which is not part of the bankruptcy, is still under construction. It was recently renamed Montage and the units there will be rented as apartments.

full article

Edited by musicman
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Mosaic's developer files Chapter 11 protection

The developer of the Mosaic condominium tower on the edge of Hermann Park has filed for bankruptcy protection, another sign that the national recession and credit crunch is affecting the Houston real estate market.

The developer, 5925 Almeda North Tower LP, made the Chapter 11 filing in U.S. Bankruptcy Court for the Southern District of Texas on Monday. Assets were listed at $85 million and debts at almost $52 million.

The Mosaic project was announced in 2005 and twin towers were developed at the 5925 Almeda site.

The second tower, which is not part of the bankruptcy, is still under construction. It was recently renamed Montage and the units there will be rented as apartments.

full article

wow one has to wonder how one tower being bankrupt and one tower not will work.....can't be good though for some reason I think the non-renatl one being the bankrupt one is better than the other way around

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wow one has to wonder how one tower being bankrupt and one tower not will work.....can't be good though for some reason I think the non-renatl one being the bankrupt one is better than the other way around

Anyone familiar with bankruptcy (if the lender, and I guess that's the takout/permanent lender on the first building and that the construction loan was taken out already?, takes ownership of the Mosaic condo building) know what happens here with the communal areas shared by both buildings? (parking, pool, workout room, etc)???

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No wonder. I just can't imagine paying that much plus .39 cents a month per square foot maintinence. The people who buy these things must be financial imbeciles. Even if you are super rich why would you just throw money away for no reason? You can get a townhouse in the same area for half the price per square foot with a lower maintinence fee, a private garage and it doesn't take an elevator ride to get outside.

When I first moved to Houston I looked at getting into a high-rise and just couldn't make financial sense out of it. Who buys these things?

Couldn't agree more. I've never understood why some people think it's "upscale" to live in a filing cabinet. But hey, more power to them.

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gee, what a shocker...

/ sarcasm

this is a great thread with a lot of information and insight, especially in hindsight.

anyways, some of the questions:

wow one has to wonder how one tower being bankrupt and one tower not will work.....can't be good though for some reason I think the non-renatl one being the bankrupt one is better than the other way around

its because the 2nd tower hasnt had time to default and im pretty sure the two towers are in technically different partnerships. glad to see gables came in for management, though.

Anyone familiar with bankruptcy (if the lender, and I guess that's the takout/permanent lender on the first building and that the construction loan was taken out already?, takes ownership of the Mosaic condo building) know what happens here with the communal areas shared by both buildings? (parking, pool, workout room, etc)???

depends on the condo docs and potential title issues. its safe to assume both towers have a legal right to all shared amenities.

hypothetically speaking, there could be potential issues down the road. keep in mind that this is a worst case scenario.. for example, another completely unrealted party comes in and purchases one of the towers. say one of the amenities (ie coffee bar, exercise room, etc) are located only inside the other tower. they may attempt to revise legal requirements in which its exclusive only to that tower.

again, worst case.. even though worse things could happen but lets not think about that.

:mellow:

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  • 2 months later...
  • 3 months later...

Here's a view of downtown from one of the towers.

About a year and a half back I was lucky enough to experience the view from one of the penthouses at night. This was before the unit was built out, so there weren't any light fixtures (at all!) to create reflections on the interior side of the floor-to-ceiling glass curtain wall. I stood right up close to it, enveloped by darkness, and experienced a sensation of hovering in thin air without feeling unsafe or in any way fearful of wind or gravity. And as rush hour traffic began to die down, the opposing rivers of light began to flow freely beneath me on 288. And the refineries in the distance were visible and were flaring something undoubtedly very toxic, yet breathtaking to behold. It was as though the city was alive, and as though I could observe its heart beat, its pulse, and every aspect of its being. I could observe the lit up downtown area as its brain, and the TMC as its liver. I watched this omnipotently, from above.

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About a year and a half back I was lucky enough to experience the view from one of the penthouses at night. This was before the unit was built out, so there weren't any light fixtures (at all!) to create reflections on the interior side of the floor-to-ceiling glass curtain wall. I stood right up close to it, enveloped by darkness, and experienced a sensation of hovering in thin air without feeling unsafe or in any way fearful of wind or gravity. And as rush hour traffic began to die down, the opposing rivers of light began to flow freely beneath me on 288. And the refineries in the distance were visible and were flaring something undoubtedly very toxic, yet breathtaking to behold. It was as though the city was alive, and as though I could observe its heart beat, its pulse, and every aspect of its being. I could observe the lit up downtown area as its brain, and the TMC as its liver. I watched this omnipotently, from above.

Thanks Eddie: tongue.gif

It's a hot night. The mind races. You think about your knife; the only friend who hasn't betrayed you, the only friend who won't be dead by sun up. Sleep tight, mates, in your quilted Chambray nightshirts.

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About a year and a half back I was lucky enough to experience the view from one of the penthouses at night. This was before the unit was built out, so there weren't any light fixtures (at all!) to create reflections on the interior side of the floor-to-ceiling glass curtain wall. I stood right up close to it, enveloped by darkness, and experienced a sensation of hovering in thin air without feeling unsafe or in any way fearful of wind or gravity. And as rush hour traffic began to die down, the opposing rivers of light began to flow freely beneath me on 288. And the refineries in the distance were visible and were flaring something undoubtedly very toxic, yet breathtaking to behold. It was as though the city was alive, and as though I could observe its heart beat, its pulse, and every aspect of its being. I could observe the lit up downtown area as its brain, and the TMC as its liver. I watched this omnipotently, from above.

Wow Niche; you should sell this prose to Moasic to their marketing team!

It is a cool view though, I would love to live there, at least for a while.

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Good news:

The Mosaic, the two-tower 790-unit residential high rise overlooking Hermann Park, will soon have its first retail tenant. It's a natural foods grocery store and sandwich shop called Nature's Market.

With a targeted opening date of Feb. 23, Nature's Market will be a "small urban bodega,"

The store will feature sandwiches, frozen yogurt, fresh-squeezed juices and a tea bar. Nature's Market will also carry dry goods and produce and sell beer and wine. The 2,500 square foot corner store has a patio with WiFi.

Located at 5927 Almeda, the Mosaic has 20,000 square feet of street-level retail space.

http://blogs.chron.com/primeproperty/2011/02/austinstyle_bodega_moves_into.html

Only 17,500 sqaure feet to go!

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