KinkaidAlum Posted January 5, 2005 Share Posted January 5, 2005 Just heard that the Monaco Condos are a no-go. Apparently, the price points were too high for the typical Houstonian who wants more space than a hi-rise can offer! I have heard that they still plan on building a hi-rise on that site but they will revamp the entire project, drop many of the amenities, and start with lower price points and fewer units (thus, most likely a much smaller building). Was told this will be about 3 years away from actually happening though. http://www.monacocondo.com/enlarge/images/new_monaco.jpg 1 Quote Link to comment Share on other sites More sharing options...
tw2ntyse7en Posted January 5, 2005 Share Posted January 5, 2005 ... 1 Quote Link to comment Share on other sites More sharing options...
firstngoal Posted January 5, 2005 Share Posted January 5, 2005 In the high-rise condo race, the Orion and the Redstone jumped into the lead with better locations and pre-sales. Those projects are a go... but I'm afraid the depth of the luxury condo market is only so deep... so projects like the Monaco (and others) just won't happen. 1 Quote Link to comment Share on other sites More sharing options...
Talbot Posted January 5, 2005 Share Posted January 5, 2005 ^lmao, but seriously, what a shame. 1 Quote Link to comment Share on other sites More sharing options...
UrbaNerd Posted January 5, 2005 Share Posted January 5, 2005 BUMMER, indeed! 1 Quote Link to comment Share on other sites More sharing options...
LTAWACS Posted January 6, 2005 Share Posted January 6, 2005 Perhaps this will teach their moronic marketers that they should build this in downtown or midtown instead. 1 Quote Link to comment Share on other sites More sharing options...
gwilson Posted January 6, 2005 Share Posted January 6, 2005 that looks like post oak lane by woodway and san felipe. What are these other two high-rises you speak of? 1 Quote Link to comment Share on other sites More sharing options...
kjb434 Posted January 10, 2005 Share Posted January 10, 2005 The Monaco will be built. I've gotten this response from the sales office."Thank you for your e-mail.To set the record straight, the Monaco will be constructed. The Monaco had 'great' interest, at certain levels. We had over 22 reservations/contracts. Which was, in our opinion, was fair, but too slow a pace to make the building attractive (enough) compared to the advertising expense. The interest, and sales, seemed to be closer to the $500,000 range, versus the $900,000 average we were hoping for. In short, Houston prefers high-rise living under the 1mm price point. We are in the process of redesigning the building and repricing it. The location is fantastic, and we will proceed with a different price matrix and unit mix. Announcements will be made shortly. As a point of interest, the 22 customers are thrilled! Luckily! We expect an affordable/luxury/high-rise on Briar Hollow to fare quite well, what do you think? "Tom CervoneSales DirectorinnerLoopCondos.com55 Briar Hollow Ln.Houston, Texas 77027 1 Quote Link to comment Share on other sites More sharing options...
gwilson Posted January 10, 2005 Share Posted January 10, 2005 WOw, the floorplans are great. I especially loved the Coral 2 with its 1700+ft terrace with greenery. Would be awesome if that were an upper floor. Rooftop landscaped terraces are so awesome. It is the ONLY way I would live in a high rise in Houston, and I have been looking for some time now. 1 Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted January 10, 2005 Share Posted January 10, 2005 Which was, in our opinion, was fair, but too slow a pace to make the building attractive (enough) compared to the advertising expense.I hope his sales pitch is better than his grammar.TNJ 1 Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted January 10, 2005 Share Posted January 10, 2005 These are the same people (InnerLoopCondos.com) that are marketing The Vistas in Midtown...Tom told me several weeks ago that interest wasn't strong enough for the price point....What does that mean for the condos being built where River Cafe is/was ? $700K seems like alot for Montrose ?Mark 1 Quote Link to comment Share on other sites More sharing options...
kjb434 Posted January 10, 2005 Share Posted January 10, 2005 I aggree with u080570,I find that the price points of a lot of planned mid-rise and high-rise development is just too high. I would love to live 20+ floors up in a highrise, but i don't want to pay $500K or higher. I'd rather get a townhome for $200K or $250K.They can shrink some of those floorplans down a bit and make them more reasonable. I sure they can get a lot of interested buyers if the condos sold for the about the same as most townhomes. 1 Quote Link to comment Share on other sites More sharing options...
gwilson Posted January 10, 2005 Share Posted January 10, 2005 I am not familiar with the build costs of a high-rise, but I would think that the per square footage price to BUILD would DROP as it is spread over so many units. Building 10k sqft for a single family would inherently be more expensive than being able to spread it over 40 units in the same foot print. But that is merely my assumption. I would love to work with high/mid-rises in the future though. Seems to be a natural progression for me. 1 Quote Link to comment Share on other sites More sharing options...
citykid09 Posted January 11, 2005 Share Posted January 11, 2005 Will the building still be the same height? 1 Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted January 11, 2005 Share Posted January 11, 2005 I am not familiar with the build costs of a high-rise, but I would think that the per square footage price to BUILD would DROP as it is spread over so many units. Building 10k sqft for a single family would inherently be more expensive than being able to spread it over 40 units in the same foot print. But that is merely my assumption. I would love to work with high/mid-rises in the future though. Seems to be a natural progression for me.It does spread cost the more square feet you build, however, it only spreads the fixed costs. For example, the cost of the foundation may be spread across the number of units. However, you have the same variable costs when you build livable space, no matter how many you build.Additionally, Highrise construction, due to code requirements, is at least twice as expensive as single family....TNJ 1 Quote Link to comment Share on other sites More sharing options...
kjb434 Posted January 11, 2005 Share Posted January 11, 2005 Also, in the US the rules regarding safety of construction workers in these construction projects along with the pay (which isn't that bad) increases the cost. In Asia where skyscrapers are being built left and right, the labor for construction is also fairly cheap.Also, in high-rise construction the skills needed aren't usually filled by immagrant workers that take low pay as in single family construction. This also increased cost also.Also know that it is not uncommon for a high-rise to devleper to go through several rounds of reservations for units before construction. As we see with the Shamrock Tower where they achieved a 70% reservation which is fairly good and promises well for the tower. The Monaco had a high pricepoint and realized they didn't attract or the market wasn't there for it. hopefully when they adjust the floorplans and units counts along with the prices they will get a higher reservation rate. The website does have more floorplans for the tower now. prior to the new floorplans, they only had 4 per floor. 1 Quote Link to comment Share on other sites More sharing options...
citykid09 Posted January 19, 2005 Share Posted January 19, 2005 Did anybody evr find out if the building will saty the same height? 1 Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted February 15, 2005 Share Posted February 15, 2005 I am new to this site and I have noticed a lot of talk about MonacoRivaOrionShamrockKirby CondosRedstoneI know where the Shamrock, Orion, and Redstone are going up, but where are the other three to be located. With that said, they are building a new (smaller scale) condo building right behind Post Oak Central on McCue. Anyone know the price points on that building. 1 Quote Link to comment Share on other sites More sharing options...
Parrothead Posted February 15, 2005 Share Posted February 15, 2005 On McCue? Are they tearing down the Marquee Apartments? 1 Quote Link to comment Share on other sites More sharing options...
houston-development Posted February 16, 2005 Share Posted February 16, 2005 not sure if you are taking about this but 2400 mccue is now condos. 2400 McCue Website it was built as high-end apartments and recently converted. 1 Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted February 16, 2005 Share Posted February 16, 2005 not sure if you are taking about this but 2400 mccue is now condos. 2400 McCue Website it was built as high-end apartments and recently converted.<{POST_SNAPBACK}>Nope, I am talking about a 20 or so story condo complex that is going up right across the street from 2400 McCue. I will try and get a name next time I drive by. 1 Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted February 17, 2005 Share Posted February 17, 2005 Nope, I am talking about a 20 or so story condo complex that is going up right across the street from 2400 McCue.  I will try and get a name next time I drive by.<{POST_SNAPBACK}>Is it already built or is it about to start construction? Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted February 17, 2005 Share Posted February 17, 2005 Is it already built or is it about to start construction?<{POST_SNAPBACK}>It has been under construction for nearly 18 months. It is almost completed. If you are driving down Post Oak from San Felipe you can see it right behind Post Oak Central (Stewart Title building). It is probably 20-25 stories and looks like the Montbello. Quote Link to comment Share on other sites More sharing options...
houston-development Posted February 17, 2005 Share Posted February 17, 2005 that's the dominion post oak and it's apartments (as of now). they had planned on building condos but after 9/11 and lack of presales, they decided to go rental.for additional info: Chronicle Story and Previous Thread and Website Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted February 18, 2005 Share Posted February 18, 2005 that's the dominion post oak and it's apartments (as of now). they had planned on building condos but after 9/11 and lack of presales, they decided to go rental.for additional info: Chronicle Story and Previous Thread and Website<{POST_SNAPBACK}>Thanks for the feedback. I will check the info you submitted. Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted February 18, 2005 Share Posted February 18, 2005 It has been under construction for nearly 18 months. It is almost completed. If you are driving down Post Oak from San Felipe you can see it right behind Post Oak Central (Stewart Title building).  It is probably 20-25 stories and looks like the Montbello.<{POST_SNAPBACK}>OK, thats what I thought it was but I wasn't sure if thats what it was. By the way it is 31 stories. I think that is what got me confused. Here is some more info Quote Link to comment Share on other sites More sharing options...
Rube88 Posted July 31, 2007 Share Posted July 31, 2007 Visited this link after reading a billboard on 59 today. Looks like this group is looking to build a highrise condo. http://www.innerloopcondos.com/communities.html Click on the Monaco link to view the details. Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted July 31, 2007 Share Posted July 31, 2007 Older info about it here:http://www.houstonarchitecture.info/haif/i...3&hl=monaco Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted July 31, 2007 Share Posted July 31, 2007 Older info about it here:http://www.houstonarchitecture.info/haif/i...3&hl=monaco Way to nail him on his first post! If am guessing if they are still advertising it after 2 years, it is not dead. Dare I say merge topics? Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted July 31, 2007 Share Posted July 31, 2007 Way to nail him on his first post! Wasn't nailing him at all - was only showing him other info about his topic.... Quote Link to comment Share on other sites More sharing options...
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