Kirzania Posted July 25, 2005 Share Posted July 25, 2005 Hey guys. I finally got a chance to do a drive-by photo shoot of the Metropole. As seen from the parking lot next door (the east side of the building): A tad closer up: Initial drive-by, going west on Richmond: Fancy signage, eastbound on Richmond, the west side of the building: This is where I'm sure that 4-story building is going to be; on the Edloe (west) side. I'm terribly sorry these aren't any better. The only time in the day to take pics of this building is on my way to work and traipsing about a construction site in heels isn't ideal for photographing a construction site. Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted July 25, 2005 Share Posted July 25, 2005 Thanks for the update.It seems that this began very soon after it was announced. Always good news. Quote Link to comment Share on other sites More sharing options...
Houstonian in Iraq Posted July 25, 2005 Share Posted July 25, 2005 Great pictures . Always a pick me me up to see pictures of projects progressing. Thanks Quote Link to comment Share on other sites More sharing options...
houston-development Posted July 26, 2005 Share Posted July 26, 2005 the dirt to the west is a different deal:Morgan Group is tearing down a small office building at the corner of Edloe and Richmond to develop a high-end apartment complex.When completed in 2006, the project will have 295 units with rents averaging $1.40 per square foot, about $1,400 a month for a 1,000-foot unit.if i get the chance, ill take pictures of the different signs/construction companies. i know one is morgan but cannot recall the name of the construction company doing metropole. Quote Link to comment Share on other sites More sharing options...
brijonmang Posted July 26, 2005 Share Posted July 26, 2005 295 units in four stories? is that the same building? Quote Link to comment Share on other sites More sharing options...
Kirzania Posted July 26, 2005 Share Posted July 26, 2005 Word is there's only 139 units in the four-story building and 150 units in the big one. Perhaps the ones in the larger building will be larger 2-3 bedroom units and the ones in the four-story building will be efficiencies and 1 bedroom units. This is just my assumption.Any confirmations? Denials? Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted July 26, 2005 Share Posted July 26, 2005 Word is there's only 139 units in the four-story building and 150 units in the big one. Perhaps the ones in the larger building will be larger 2-3 bedroom units and the ones in the four-story building will be efficiencies and 1 bedroom units. This is just my assumption.Any confirmations? Denials?<{POST_SNAPBACK}>I agree with that. Also the ones in the current office building will probably have higher ceilings as office floor to ceiling ratios tend to be high. Also looking at the rendering the new four story building is much shorter in terms of each floors height. So like you said those may be the cheaper units. Quote Link to comment Share on other sites More sharing options...
kjb434 Posted July 26, 2005 Share Posted July 26, 2005 Well, whatever it is, they are definitely moving ahead with working on the project. Quote Link to comment Share on other sites More sharing options...
citykid09 Posted November 3, 2005 Share Posted November 3, 2005 Any updates on this project? Quote Link to comment Share on other sites More sharing options...
utdeveloper Posted August 14, 2006 Share Posted August 14, 2006 Any updates on this project?First off, the four story building is being built by the Morgan Group and I believe opened up today. Their rents are starting off around $1.56 psf and will be rising. It is for rent only and I don't see it being converted to condos. Metropole seems to be moving along as planned. I live around the corner and will update when something substantial happens. Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted August 14, 2006 Share Posted August 14, 2006 It is for rent only and I don't see it being converted to condos.They try to double dip, They will do rentals at the beginning while everything is brand new, then afer 3 to 5 years, you can bet they might sell them off for condos. Quote Link to comment Share on other sites More sharing options...
houston-development Posted August 14, 2006 Share Posted August 14, 2006 They try to double dip, They will do rentals at the beginning while everything is brand new, then afer 3 to 5 years, you can bet they might sell them off for condos. uh, you know morgan is a merchant builder and has never sold a houston deal to a converter, right? also, you will not see apartments being converted into condos in 3 - 5 years. those days are behind us. Quote Link to comment Share on other sites More sharing options...
jt16 Posted August 15, 2006 Author Share Posted August 15, 2006 "also, you will not see apartments being converted into condos in 3 - 5 years. those days are behind us"And, in front of us. Who knows what interest rates will be doing in 3-5 years? I've got to imagine there will always be enough new money to come in and do condo conversions, depending on interest rates and the overall real estate market. Quote Link to comment Share on other sites More sharing options...
houston-development Posted August 15, 2006 Share Posted August 15, 2006 "also, you will not see apartments being converted into condos in 3 - 5 years. those days are behind us"And, in front of us. Who knows what interest rates will be doing in 3-5 years? I've got to imagine there will always be enough new money to come in and do condo conversions, depending on interest rates and the overall real estate market. real estate is a constant, never ending cycle. historically, when interest rates go up and the housing market becomes flat or becomes depressed, the first thing to get hit are condos. i cannot predict the future but those who forget the past are doomed to repeat it in the future. Quote Link to comment Share on other sites More sharing options...
utdeveloper Posted August 16, 2006 Share Posted August 16, 2006 uh, you know morgan is a merchant builder and has never sold a houston deal to a converter, right?also, you will not see apartments being converted into condos in 3 - 5 years. those days are behind us. Morgan will not sell, it is not in their business model. Should they, maybe...only time will tell. But it isn't going to happen. On to the Metropole. They are converting the Tower(already exists) and building a Mid-Rise/Apartment complex that will be next door. Below is the website... www.metropoleliving.com Quote Link to comment Share on other sites More sharing options...
jt16 Posted August 16, 2006 Author Share Posted August 16, 2006 real estate is a constant, never ending cycle.historically, when interest rates go up and the housing market becomes flat or becomes depressed, the first thing to get hit are condos. i cannot predict the future but those who forget the past are doomed to repeat it in the future. We could go into a long discussion about the political and world events of the early 80s. The Cold War, Paul Voelker, oil embargos and the shah of Iran, but I guess that's for another discussion. I'm just telling you it's a widely held opinion, and only an opinion, that we aren't going to touch double digit long-term rates for a very long time. Of course, who knows what the future holds. I don't pretend to. Quote Link to comment Share on other sites More sharing options...
torvald Posted August 16, 2006 Share Posted August 16, 2006 Shouldn't it be spelled "Metropol"? ...or worse, something that metrosexuals do.HAHAHA! i clicked on this thinking it was about the fomer "metropol" club here in houston.sugarbeats! Quote Link to comment Share on other sites More sharing options...
houston-development Posted August 16, 2006 Share Posted August 16, 2006 Morgan will not sell, it is not in their business model. Should they, maybe...only time will tell. But it isn't going to happen. huh?!? all morgan does is build and sell - they are merchant builders (i.e. they build with 100% intention to sell). 3000 sage? gone. memorial heights? gone. pin oak? gone. the ONLY reason they havent sold smith st. is because of the garage lease with specs. while it is extremely successful compared to their original underwriting, it is almost impossible to underwrite based on their ask, the ground lease, and size of the deal (only 152-units). I'm just telling you it's a widely held opinion, and only an opinion, that we aren't going to touch double digit long-term rates for a very long time. Of course, who knows what the future holds. I don't pretend to. no one knows where interest rates are going to be in 3 - 5 years, im just saying condos are extremly intrest rate sensitive. historically when interest rates go up and the residential market becomes flat or depressed, the first thing to crash are condos. most condo buyers are doing 5 year arms and are banking on appreciation.... but as you said, thats a completely different subject and this post has gone far enough ot Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted August 18, 2006 Share Posted August 18, 2006 Remember: Shamrock was a"go", also.HAHAHAAHA. wadoo-u-think of THAT? . . . . . . . . . . . . Simply marvelous. Quote Link to comment Share on other sites More sharing options...
VicMan Posted August 20, 2006 Share Posted August 20, 2006 (edited) Since the project is a go - I'll post the school stuff below.Anyway, the old and new buildings are as different as night and day - The old building is bland while the new looks so flashy. I'd like to see how this turns out.I've been told that Houston ISD loves condominiums; they get few kids and they get a lot of taxable money!Schools (Houston ISD):* Poe Elementary School - http://es.houstonisd.org/poees/* Lanier Middle School - http://ms.houstonisd.org/lanierms/* Lamar High School - http://hs.houstonisd.org/lamarhs/Profiles:* http://dept.houstonisd.org/profiles/Poe_ES.pdf* http://dept.houstonisd.org/profiles/Lanier_MS.pdf* http://dept.houstonisd.org/profiles/Lamar_HS.pdf Edited August 20, 2006 by VicMan Quote Link to comment Share on other sites More sharing options...
citykid09 Posted February 27, 2007 Share Posted February 27, 2007 Any updates on this project? Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted February 27, 2007 Share Posted February 27, 2007 Jeez... the thing's almost done, including the surrounding residential. There has to be updated pictures somewhere. Quote Link to comment Share on other sites More sharing options...
lockmat Posted February 27, 2007 Share Posted February 27, 2007 Don't know if someones posted this already, but here's their website:http://www.metropoleliving.com/metropole.htmlI couldn't find any pics on it OF the building. Just views FROM it. Quote Link to comment Share on other sites More sharing options...
mls1202 Posted February 28, 2007 Share Posted February 28, 2007 The website is underwhelming and it concerns me that they seem so bent on NOT showing any pictures of the exterior. Take a look at the floor plans, especially in the tower. They're very strange in shape, but I don't understand why when looking at the box like exterior. Somebody want to snap a picture going by one day? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.