flatline

I ran into a problem with an appraiser in the last year or so in the context of a refinance. After the 2008 crash, regs were put into place to try to prevent banks or brokers from being too cozy with the appraisers and getting an inflated appraisal to justify an iffy loan. But now the problem is that there are appraisers who accept jobs in neighborhoods with which they have no real familiarity. There's obviously a lot more work that has to go into appraising an older house in the Heights (or Shady Acres, or Timbergrove) than in a new, consistent, homogenous subdivision in a master-planned community. For example, we're in the core of the Heights, zoned to Harvard Elem. The first appraiser assigned to our re-fi used "comps" from east of Main and north of 20th/Cavalcade. Huh?? I tried to reason with her, but she wasn't interested in hearing about the nuances of our 'hood and issued her appraisal well under what any realtor working in the Heights would pin as market value. We couldn't un-ring the bell and had to start over with a new application. The second time around, I was absolutely insistent that the bank had to get someone who had worked in the area, and luckily that's what we got. The appraisal came in where we expected and we lived happily ever after (notwithstanding several weeks of hassle and the cost of a second refi application). A realtor friend of ours likes to say "there's no such thing as comps in the Heights". That's an exaggeration, but I'm sure the same general principle applies for Shady Acres. To the extent you can, lean on your lender to insist on an appraiser with experience in your area who is willing to put in the work to find real comps -- not one who will just go through the motions.

Windows are being installed in the upper floors on the North side:

There is a trailer park next door to the west on 11th, a house next door to the south on Yale. Agree that it was inevitable. Also now inevitable that the Valero on Studewood will have even longer lines for the pumps. . .

Shell actually just gave up a bunch of space in the Pennzoil building at the end of last year, and consolidated into One and Two Shell (cubicles for everyone!), so I doubt it's them.

That's big news, but given that it's the parking lot at the bayou bridge, and not the dealership between 12th and 13th, I don't think it will have much of a domino effect on "No-Credit-No-Problem" Row, at least for the near future.

Anybody have any info and/or wild speculation as to what the parking plan is for the hotel?

That's an excellent question. Given that it's the intersection of the Pennzoil/Esperson/Chase tunnels, it would be a big disruption.

Aha! That explains why they've got it on the tunnel signage too. I thought I was missing something. . .

Looks like earth moving has started at the Conoco site. Digging up the underground storage tanks, I assume? Looks like earth moving has started at the Conoco site. Digging up the underground storage tanks, I assume?

I was at the Embassy Suites in Fort Worth this week, which is also a Pearl Hospitality hotel. The manager said that there is, in fact, a mock-up room that they are showing to potential investors.

Sorry for the poor picture quality. These are 15 floors up on the north side.

Black Middle School in Oak Forest is in the early stages of making a big turnaround.

Surprised to see the string hasn't yet picked up this news: http://www.theleadernews.com/?p=3190

Don't forget the Bank Draft, an honest to goodness brewpub in Downtown (on Prairie). The beer wasn't spectacular, but it was a nice, comfortable spot to grab a pint.

Very nicely done.

I saw a tweet that the loan application got tagged at the City Council hearing. Anybody have an update?

Our business just rented a full floor in the Gulf Building (712 Main) a few months ago. The building was sold by Chase to a REIT a few years ago, and the new ownership is pumping money into amenities, elevators, etc. I would say it was a Class "B+" office building when we first looked at it, and they're working to get it to "A-". Working with our architect, we went with a modern, bright, clean look to counterbalance the lower ceiling heights and smaller windows, and I think we succeeded. I love the beginning and end of work days getting to walk through the grand bank lobby -- 30 seconds of beauty to start and end my day. Building management is constantly parading potential tenants through our space, so I'm guessing it's starting to lease up.

First visit . . . The lamb shawarma is fantastic -- what an exponential upgrade over the tunnel gyro joints downtown. The taste and texture of the lamb was awesome. And the pita was incredibly light and tasty. The setup reminded me of the Smith Street Spec's (tables, checkout, merch, deli), but there seemed to be no easy way in, and there was significant congestion to get the orders in and filled. The checkout aisles seemed to work fine (like they do at Spec's). Hopefully they will work out the kinks and streamline the order process back at the deli.

I just checked out those May 19 pictures. Interesting to see the stadium progress. And interesting to see that it used to rain in Houston.

I haven't noticed the lights yet. But wow, it's amazing how the addition of some simple broken white stripes improves the flow of traffic coming up to 11th street! I'm at that intersection multiple times a week. Since they added the broken white line delineating the main lanes from the left turn lane, I have not seen any drivers trying to tardily change lanes or otherwise indicating they were in the wrong lane. I'm sure the passage of time and the wearing off of novelty helps too, but there's no doubt the addition of the stripes improved matters almost instantaneously. Human Factors technology is amazing!! I also bike Heights several times a week and, agree with Gooch and MOpens -- the bike lane works great.

Plonk gets lots of love from Allison Cook @ the Chronicle: http://www.29-95.com/restaurants/story/restaurant-review-plonk

Holy moly that is fantastic . . .

I was in Fort Worth on business for several days last month, and stayed at the downtown Embassy Suites owned by Pearl Real Estate. My business partner had a chance to talk to the general manager, who said that Pearl is currently in negotiations with Marriott for a franchise on the 806 Main property (he did not say which iteration of the Marriott chain it would be). Based on my experience at their Embassy Suites, it would be a boon to downtown Houston to have a Pearl-managed hotel here. The level of service was outstanding. Every single staff member, from the managers to the maids, were super-cordial and responsive. More often than not, when we would leave for the day or come back in the evening, we were greeted by name by a staff member manning the lobby. It was the type of service one would expect at a Four Seasons, or a high-priced boutique hotel. As for the hotel itself, it was very comfortable and well thought out, especially for business travelers. Like 806 Main, it's a renovation of an older building on one-half a city block in the middle of downtown F.W., so it differs from the "suburban" style of all the other Embassy Suites where I have stayed. . .no large glassed-in central atrium, for example. Instead, the breakfast/reception area, fitness center, business center, and conference center were located upstairs in their own dedicated wing -- away from the guest rooms, but still convenient to them. And even though it's a an older building, it didn't have the drawbacks one might associate with a "historic" hotel: the plumbing worked great, plenty of electrical outlets, excellent internet connectivity, no drafty windows. I really hope the Pearl folks can pull it off. From my experience, they know what they're doing when it comes to developing and running hotels. It would be great to see what they could do with 806 Main.

No personal experience on large renovation jobs, but we've used Lucas Craftsmanship for various small maintenance/renovation jobs on our camelback, replacing doors, countertops, a little bit of sheetrock work. They are conscientious and have always done right by us.

Good for PBR/Cordish that it will be open before the Final Four. Not my bag, but maybe it will be a fun stop for some tourists from Kansas, Ohio State, etc.