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402 Hutcheson St


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Below is an aerial view of 402 Hutcheson St.

The photo is of the 3509 Harrisburg Blvd buildout, but also includes a view of 402 Hutcheson St. It was taken by @hindesky earlier this month. 




https://www.houstonarchitecture.com/haif/topic/46429-office-with-retail-3509-harrisburg-blvd/?do=findComment&comment=675189

On 3/11/2023 at 3:55 PM, hindesky said:


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Just now, IntheKnowHouston said:

402 Hutcheson St was for sale as recent as January.


Below is a photo of the for sale sign on the property. The image is from a January 2023 Streetview.


dnQ0fFR.jpg




According to county records, 402 Hutcheson St changed hands in recent weeks.

The property was acquired by The Platform Investment Group. Platform Investment Group also owns two other properties on the same block: 3501 Harrisburg Blvd and 3509 Harrisburg Blvd.

Does anyone have insight into future plans for 402 Hutcheson St?  I wonder if Platform Investment Group has its sights on the entire block? Maybe Platform will scoop up 406 Hutcheson St and 407 York St.  406 Hutcheson and 407 York are the remaining lots on the block not owned by the developers.

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lots of action on just that block right now. awesome, and very cool that you have pulled some photos of how it currently sits, I'd guess one, or both of these buildings (402 and 406) are going to be gone.

and then, they might be acquiring them so they have them now, rather than never (or much later for much more money). scoop rent from the current tenants. over the course of a few years, do some improvements and raise the rents. and eventually tear them down and build out something else.

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20 hours ago, samagon said:

I'd guess one, or both of these buildings (402 and 406) are going to be gone.

and then, they might be acquiring them so they have them now, rather than never (or much later for much more money). scoop rent from the current tenants. over the course of a few years, do some improvements and raise the rents. and eventually tear them down and build out something else.



I had the same thoughts. It's possible The Platform Investment Group will purchase the remaining lots over time. And if that's their plan, it will be interesting to see how they'll develop the lots. 

Hopefully the Hutcheson residences remain. I like the build of the homes. 

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  • 6 months later...
On 3/26/2023 at 6:30 AM, IntheKnowHouston said:

According to county records, 402 Hutcheson St changed hands in recent weeks.

The property was acquired by The Platform Investment Group. Platform Investment Group also owns two other properties on the same block: 3501 Harrisburg Blvd and 3509 Harrisburg Blvd.

Does anyone have insight into future plans for 402 Hutcheson St?  I wonder if Platform Investment Group has its sights on the entire block? Maybe Platform will scoop up 406 Hutcheson St and 407 York St.  406 Hutcheson and 407 York are the remaining lots on the block not owned by the developers.

 

On 3/27/2023 at 10:31 AM, samagon said:

I'd guess one, or both of these buildings (402 and 406) are going to be gone.

and then, they might be acquiring them so they have them now, rather than never (or much later for much more money). scoop rent from the current tenants. over the course of a few years, do some improvements and raise the rents. and eventually tear them down and build out something else.




Sometime over the summer, The Platform Group added 402 Hutcheson St to its website.  As noted a few posts above, Platform Group acquired the property earlier this year.

In addition to 402 Hutcheson St,  406 Hutcheson St is also included in Platform Group's portfolio.

I don't know if Platform Group has acquired or is in the process of acquiring 406 Hutcheson St.  I'm unable to locate documentation indicating the property changed hands. Still, the addition confirms my earlier speculation that Platform Group may acquire 406 Hutcheson St.

As for plans for the properties, there are vague details on Platform Group's website:
 

  • Project Type: Other, Residential

    Located directly behind 3509 Harrisburg, improvements coming soon.
     

http://www.platformgroup.com/project/402-406-hutcheson/

 


406 Hutcheson St topic:
https://www.houstonarchitecture.com/haif/topic/50420-406-hutcheson-st

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  • 1 month later...

@wilcal contacted Platform Group about their plans for 402 Hutcheson St. Below is the response he posted to the 406 Hutcheson St topic:



https://www.houstonarchitecture.com/haif/topic/50420-406-hutcheson-st/?do=findComment&comment=692539

11 hours ago, wilcal said:

I heard back this morning!

Here is the reply I received:


Thanks for reaching out. Right now, 406 402 Hutcheson will remain a residential rental property and the area at 402 406 Hutcheson will likely be temporary overflow parking for the new building at 3509 Harrisburg. Long term plans are still in the works... 

 

 

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