BuilderGeek

Thanks for the info Steve. So it looks like 271 under contract, 30% investor which makes it approximately 190 non-investor units sold. Sounds like some pretty good traction. Even if the investors bail out due to the credit crunch they will still have a minimum of 190 residents in the first tower (190 sold, most one bedrooms, assuming one person per condo - bad assumption but this is worst case). Mortgage woes have been hitting the sub-$180K borrowers mostly. Let's hope it doesn't have an effect when they go to close and this thing really takes off!

Believe me they wish to make a VERY good impression. The Empire and Manhattan Projects are a totally different animal compared to the Turnberry.

Agreed. This is a different audience than Empire or Manhattan, nothing much like it other than what Orion tried to do, and those of you who saw the sales center there know what they did. We saw how that worked out so hopefully since Turnberry is a more stable backer this project it will not turn out the same way.

"Welcome to our trailer. Give us $8 million."

Not so much.

Thanks for the welcome! Jimmy, the sales consultant at the Mosaic, updates me about once a month on the pricing (See July 19 Penthouse Pricing for the Mosaic and July 15 Regular Mosaic Pricing) I'll try to make it out this weekend for the hardhat tour, but I believe my fiance and I have a wedding to attend. If it's in the afternoon I'll try to shoot by and snap some photos.

Welcome to the board! Perhaps when you talk to Jimmy you can ask him to clarify if they have 218 sales or 218 reservations and if they are "sales" is the 5% refundable that is mentioned on your fact sheets? Also are the buyers investors or actual residents? Thanks!

Don't remember this being posted, but here are some picks on flickr of their topping out party for the tower. It's mostly people shots but you can see the construction and the views in the background.

http://www.flickr.com/photos/37257335@N00/...57600066274655/

yeah thats it. didnt know it was so dressing though...

I think we have a new buzz-phrase. "It's so dressing!"

Usage: "We all thought Discovery Tower was going to be a big box. But that funky stuff on the top is just so dressing!"

I like it because it looks different from anything I have seen before, but I can see the nickname already. The PAC MAN building or the PEZ Dispenser Building.

Or "stapler on a pedestal." Just kidding. I think they did a great job on this one and I think this may be one case where the real building is going to look even better than the rendering.

It was my understanding that the plans from the beginning were to sell all the units and never have it actually begin renting, so they are probably already built to condo standards. If it gets to the point where they have a completed building and don't have it sold I would imagine that they would have to begin renting to satisfy lender requirements. Of course I am talking out of experience and don't know what their deal is, so I may be (probably?) off.

This whole thing has me thinking about the Royalton and what a mess it has been to get sold as well as the all-but-abandonded (at least it seems to me) Tremont Tower on Westheimer. What is the issue with that building anyway?

With that said, I SO HOPE that this goes off well and the whole area gets a great benefit from it. I'd love to have some sushi with a Hermann Park view.

Well 218 units in one tower sold is a good number, but I don't know if that would have prompted me to build another unless it was closer to 250-280 units sold.

They've been selling for a year now and have only sold 200? IF they sell at the same rate they would sell out in 2010? And this after they cut the prices so much. I believe they started in the 190s originally and then were cut to $154k for the starting price? I wonder if the developers are making any money on this at all. Seems if it was such a success Wood Partners would have been in on the second tower as well but it looks like they bailed. I still have questions about this one, built or not.

And this info coming to light after they made the statement in April that they had "nearly sold all first tower units." Even now, 218 is not "nearly all" of 394.

I heard from a friend who works in Highland Village - Harold Powell is moving across the street next door to Pottery Barn. The entire building where Harold Powell is, and The Gap was, is being torn down and will be a hotel. Kind of a small plot for a hotel - but would not doubt be a boutique hotel. W? Another one?

Also, the addition above Waterworks is going to be a Wine Bar.

Good follow-up with where Harold Powell will be relocating and also about what is being built above Waterworks. I had wondered what that was going to be. Thanks for posting!

After doing a little google research, I found that Marvy runs Fingers Cos. which was founded in 1958. I guess they are unrelated from Fingers Furniture?

I was told by someone at Finger Cos. that they were "distant cousins."

No offense taken. The reason for the Hush Hush is the company I work for is in negotiations with the W people to build the thing. I do not want to jeopordize the process.

Can you tell us who the players are in the deal? Obviously Starwood but who is their development partner? Thanks

Sorry, that's not the location.

That tells me downtown???

MOSAIC ANNOUNCES COMPLETION OF VERTICAL CONSTRUCTION

...this property houses 792 total residential units...

...Mosaic has nearly sold all first tower units. Contracts have reached the 100 mark while additional reservations peak 250...

Sorry, a little late coming on on this one but is it me or does this math not pass the sniff test? 792 total units / 2 towers = 396 units per tower...and only 100 contracts? Sounds like about 1/4 to me. As we all know reservations back out many times. How can they say that they have nearly sold all first tower units when they only have contracts on a little over a quarter of them?

Oh wait...they said nearly sold. Does that mean they got close to selling them but no cigar?

I am the first to cheer for this project and the impact it could have, but am I missing something here? Doesn't sound like tower two will be coming anytime soon, depending on what the numbers really are...

Drove by the site today and "Highland Tower" is in full swing. There's a new sign on the property advertising the units for sale...so did Trademark give up on this site for some reason and sell it to a condo developer? Anyone know what's going on?

First time I've heard or seen this before, looks good for an old folks' home! Glad to see another Highrise... inbetween Uptown & Westchase. However, the rendering looks something like a rendering i've seen for a senior living highrise in Dallas... Which raises a question since the landscape in this rendering includes hills/mountains.

Looks like they're doing one in Dallas too...The Sterling of Turtle Creek. Guess they're putting them in lots of places. A little different but the one in Dallas looks more like an office building to me.

Because this is the biggest "mickey mouse" operation to hit Houston since Orion....

This is the sign for The Sterling which will be on Voss at San Felipe where the Chipotle strip center is now...first time I have seen the whole rendering for this...they have a sales center opening soon by Carabba's on Voss too it looks like...kinda boxy building, but an okay addition IMHO...if it happens.

Sign:

Beside Carabbas:

For those who care...I snapped a couple of pics of the big 'ol crane the other day...and yes, I have confirmed that it is a crane.

Soooo...anyway.....

Any ideas or rumors about what brand the "boutique hotel" will be?

Rendering of retail at Mosaic from Wulfe's Web site courtesy of Shasta on Skyscaper page. Retail looks a lot different than previous rendering. Nice though.

New Web site showed up today at mosaichouston.com. Not much content...looks like they have retooled. Anyone remember the prices they had earlier? 164K seems lower than they were. How could that be?

A couple of shots from a Mosaic drive-by today...looks like they are really getting it done. Sales office was still closed, but from these shots, it looks like a LOT is going on. The crane is up!

I'd like to see some retailers and restaurants move in that aren't found elsewhere in Houston or even the region. Lots of new names but names that carry a certain cache. Another GAP is not going to drive people downtown, it has to be compelling but most of all entertaining. Maybe do a Rockefeller Center-esque news studio with windows for local events and reports...host concerts, etc.

Quick update...the existing Central Ford building has been boarded up and the boards painted black. Lots of graffiti on the site in the garages as seen from a drive by on West. Some surveying going on at the site this morning.

Also, looks like from the Trademark Property web site it will be named "High Street." Maybe that has something to do with the Sin Alley background...

I thought Perry's development was going to be East of 288? The one with medical office space and two hotels?

This site is near the Children's Museum on Binz West of 288. I don't think they are one in the same.

I think you're right. According to the Chron article announcing the Perry project and Mosaic, Perry is on the east side. No info here as of yet.

Cheers to all...lurker here for about a year and decided to start posting since I have heard nothing about this development at the corner of Binz and La Branch across from the Children's Museum. Sign on the property has a high-rise and says it's condo and medical office? Just wondering if anyone has any info...next time I am out I will snap a photo of the sign and post.