bpe3

I started driving that stretch of road regularly in 1987, my freshman year at UT. My memory may be suspect, but I don't remember any new lanes being added since then. It's been three lanes each way as long as I can remember.

bpe3

Here are some more examples of similar, abeit not brand new, improvements in VASTLY more desirable locations for the same price:

Invest Here Instead

Or Here

Or Here

Or Here

Or Here

Or Here

Or Here

You get the idea.

bpe3

Letting aside that the neighborhood that this discussion is actually centered around is actually directly south of downtown, not east, I think you're underestimating the long-term potentials for both the East End and Third Ward.

I know exactly where this place is. It's just not a good neighborhood. I suspect it will be better in 20 years, but it will always play second fiddle to Houston's more established neighborhoods. They will be better in 20 years too.

The original post asked about the investment potential of the neighborhood. To me it seems like a total waste of money to spend $285,000 to live here: Perry when you can spend the exact same amount of money and live here: Also Perry

Invest in a crappy location and hope it gets better someday or invest in a vastly superior location that is getting even better by the day???? It's a no brainer.

The East End and the Third Ward may have all the potential in the world, but an investor should receive a steep discount for assuming the risk that the potential is never realized AND for the time it takes for the potential to be reached. I don't think the relative discount between the two neighborhoods comes even close to mirroring the vast differences between the two.

bpe3

The prices seem high to me. That area is a LONG way from being anything like a nice place to live. I think the discount for that location vs. townhomes Midtown, Montrose, Upper Kirby, Washington Corridor, etc. should be MUCH higher. I see those townhouses being sold to people moving to Houston from out of town who want to be close to downtown, but don't know enough about Houston's inner loop neighborhoods to make a better choice. This area is really on the fringe.

To compare this area to Rice Military is just silly. Rice Military is only a few blocks from Memorial Park, one of Houston's most desireable amenities. Rice Military is one the white hot Washington retail, restaurant, bar corridor. Don't expect anything like Washington Aveneue to develop on the east side in the next 20 years. Rice Military is super close to I-10 and 610 giving easy acess to Houston's freeway system. Rice Military is closer to River Oaks, closer to the Galleria, closer to lots of things.

There's a reason that the three most important things about real estate are: location, location, location. This is not a desirable location. You're better off finding something 5-10 years old in a much better neighborhood for about the same price or a little more.

bpe3

What if I block the sidewalk with a big pile of bricks?

Can I get a ticket for that?

bpe3

You're right. I just pulled out a copy of my survey and it shows that my property line ends at the sidewalk.

bpe3

Is there anything to stop me from having my sidewalk removed and replaced with landscaping to avoid breaking the law while parked in my own driveway?

bpe3

Out with the old. In with the new. That's how we do it in Houston and I'm fine with it. What's been going on in Houston's inner loop for the last 15 years is nothing short of amazing and it ain't over yet. We're only 20 years into a 50 year densification cycle. Draw a ring around Downtown, the Med Center, the Galleria and Memorial Park. Come back in 20 years and you'll be amazed.

Does anyone hear remember the West U of 30 years ago? The whole place was a bunch of 1,300 SF termite infested cracker boxes. It was always expensive, but now it's only for the richest of the rich who don't bat an eye at their $20,000 to $50,000 annual property tax bill. This is one of finest areas of executive housing in the country.

I'll take this over Austin any day where the vast majority of the close-in housing stock is woefully obsolete and will only continue to deteriorate as the decades pass thanks to their current restrictions on development.

Not everyone can afford West U, or Southhampton or River Oaks so bring on the townhomes for the rest of us. Clearly that's what the market dictates. More people with more money all living, shopping, drinking, dining and working in close proximity to one another. And thanks to Houston's building requirements that force all commerical develepments to self park on site, I can drive my own car everywhere I want to go, usually in 10 minutes or less. I love it.

Show me any place in America besides Houston where I can have a recently constructed, 3-bedroom, 3.5-bath, 2,400 SF townhouse with a 2-car garage in one of the best in-fill locations for $300k. It doesn't exist. Similar location, size and quailty in Chicago would cost $1.5 million. New York? San Francisco? Try $3+ million. San Diego? Denver? Seattle? Boston? Miaimi? Forget about it.

Sure. Houston's lax development guidelines have allowed developers to build their share of questionable properties, but that certainly doesn't make us unique. I can go any city in America and find ugly buildings. We have a self correcting system. If developers build stuff that people don't want or can't afford they will soon be out of business. I'd much rather the market deciding what gets built than the government.

bpe3

The developers need to take the gloves off and come out swinging. Maybe it's time for a tortious interference lawsuit against every single contributor to the opposition's war chest.

I'm not a lawyer, but I stayed a Holiday Inn Express last night.

I've seen some discussion of the new condos planned a block away at the NEC of Bettis and Bancroft, but I haven't heard anything about this site yet.

The adjacent mini-storage building on San Felipe is still standing. It would be a shame to hide a nice new development behind such an inferior land use.

What's the scoop?