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St. Regis Residences & Future Multifamily On Asbury Pl.


SpaceCity

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Spoke with my friend who is involved in this project still and last time we talked which was a while back his opinion was that the project was dead. However the Orion people have come back to the table to talk about starting up again. The only catch is that they have less money than original planned and the budget as of right now is much smaller. If built, the building will not be as elaborate as once thought. My guess is that the building will have to go through an rather large redesign to get rid of some of the architectural features tht are driving up the costs. We will see.

On a side note the question about the work going on right now is the completion of the utility lines being installed and the prep work for the building foundation. Ths was put under contract in order to get started while the building itself was getting the problems with the design worked out.

it seems to me the people making all the money on this deal are the architects. :lol:

I wonder how many of their buyers they lost. Public and consumer confidence in the project is so well eroded at this point that it would take a small miracle for them to convince people that they know what they are doing and can make good on their promises. I know quite a few buyers who have taken back their deposits and went elsewhere.

Maybe they took their money to the Shamrock. We all know that project is happening :lol:

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But this project is the not the same project as the Orion and never was. The Orion was suppose to be back behind the Sterling Bank building. This project is 300-500 yards East down Memorial.

if that's the case i stand corrected....the sales office was behind the bank however i have always beleived this to be the orion location....

Edited by pachanga
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To see the Orion "site", turn on Asbury Street which is between the strip center with Texadelphia & Los Cucos and a gas station (Texaco?). At the bottom of the hill there is a parking lot with the old sales office. Several months ago there was still a observation type platform you could walk up which overlooked the graded site down near the bayou.

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  • 7 months later...

I like the towers but it looks like there trying to make it look better with the Ohio Valley backdrop.

edit; ricco67 beat me to it.

Edited by Marty
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Additionally, these towers are NOT going up. If you read the article, it is very clear that they are building rental apartments and not condo towers. The first phase will be 4 floors of apartments over 2 floors or parking.

Too bad; the twin towers are cool. So just another midrise ... one of a thousand in Houston. The only reason it made it to HBJ is because of the "River Oaks" location I presume.

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Got my hands on HBJ. Picture the Sabine Lofts and you have an example of Asbury (boring). I was tempted to scan the picture and put out here, but I don't know about copyright laws. Therefore, I won't. But ... on a happier note ... Lighthouse Island in Clear Lake is beginning to be transformed into an upscale community with homes, condos, etc. The photo in HBJ with the sailboats docked and the lighthouse across the blue water makes me want to get into my 401k and purchase a place there. It will be absolutely awesome.

Edited by houstonfella
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  • 3 weeks later...

This project has been a complete disaster. The 2 original developers- Day and Tarragon- had a huge falling out and blame each other for killing the condo project. I couldn't tell from the HBJ article which one is actually doing this, although it sounded like probably Tarragon. This is a neat site, but the lack of visibility could hinder the apartments. I wish them luck- at this point, they seem entitled to some.

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Land planned for Orion sold.

High-end plans slip away as land is sold

Pricey condos didn't get built, and neither did more modest apartments

By NANCY SARNOFF

HOUSTON CHRONICLE

Sept. 4, 2010, 10:56PM

Five years after pulling the plug on a $425 million condo tower planned for a site along Buffalo Bayou, the owner has sold the property.

The 9.25-acre tract sits just south of Memorial Drive between Westcott and South Shepherd on Asbury Place.

New York-based Tarragon Corp. along with a Florida development partner were once planning a luxury high-rise called Orion on the site.

It was designed as two 37-story towers with 360 units averaging 3,600 square feet and priced at more than $1 million apiece.

In 2005, however, Tarragon said there wasn't enough demand for the large units, so the project would be redesigned with smaller ones.

The property was then permitted for a four-story, 247-unit apartment complex, according to a marketing brochure from Cushman & Wakefield, which was listing the land for sale.

All city of Houston building permits are paid and current.

Nancy Sarnoff link

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