Popular Post hindesky Posted September 29, 2022 Popular Post Share Posted September 29, 2022 So it's a Meek Partners design and includes 4000 sq. feet of retail. 10 Quote Link to comment Share on other sites More sharing options...
clutchcity94 Posted September 30, 2022 Share Posted September 30, 2022 Can someone paste the full article? Paywalled. Quote Link to comment Share on other sites More sharing options...
hindesky Posted September 30, 2022 Share Posted September 30, 2022 (edited) 1 hour ago, clutchcity94 said: Can someone paste the full article? Paywalled. From the Biznow article....... "Amid climbing rents that have priced young professionals out of vibrant urban environments, a residential development subsidiary of Dallas-based Civitas Capital Group is set to break ground on a co-living project that matches renters with roommates and offers amenities from gaming lounges to yoga studios in a sought-after locale: Houston’s hip Montrose neighborhood. The Shelter Cos. is the developer behind Uniti, a 238-unit development set to go up at 701 Richmond Ave., the Houston Business Journal reported. The nine-story, 199K SF project will be the first of a number of such projects aimed at bridging the gap between stretched incomes and rising rents, per The Shelter Cos. website, which lists dozens of target markets across the country, from the Sacramento, California, metro in the West to Miami; Charlotte, North Carolina; and Washington, D.C., on the East Coast. The company is targeting renters paying more than 30% of gross income in rent, a demographic that includes 37.5% of income-earning households, mostly making between $40K and $100K annually. While the Houston project will have 238 units, it will offer 381 leasable bedrooms. Shelter Cos. will help line up roommates for the bedrooms, which will be configured in three or four-bedroom units with shared kitchen and laundry areas. “It saves them the hassle of having to find a roommate, and each resident signs their own contract, so they are not on the hook for anyone else’s rent,” Shelter Cos. Managing Partner and co-founder Mark Drumm told the HBJ. “We believe there is a market for renters who just got out of college and are used to living with roommates.” Uniti Montrose will also offer some micro-units of between 320 SF and 420 SF that will be smaller and about 10% to 15% cheaper than traditional studio apartments, the HBJ reported. In addition to a gaming lounge offering esports, shared amenities will include a sky lounge with an outdoor patio and a fitness center, a pool with grills, two clubrooms and specialty communal space on each floor, such as a yoga room. Drumm told the HBJ the idea was sparked by a tour of a co-living building in London four years ago. According to its website, the company hopes to take the concept national, but its primary target markets are all in Texas, including Dallas, Austin and San Antonio. “'Co-living' can be a scary word to some people, but this just made sense to us,” Drumm told the HBJ. “Young people have been priced out of apartment living in so many areas because the rents just keep getting higher, especially in hot urban centers." Co-living has been on shaky ground over the last few years. Though Common has thrived, companies like The Collective and Quarters have gone bankrupt as renters moved out of dense urban markets and sought more living space during the pandemic." Edited September 30, 2022 by hindesky 7 Quote Link to comment Share on other sites More sharing options...
thatguysly Posted September 30, 2022 Share Posted September 30, 2022 I had an apartment in college that was four bedroom with individual contracts. We had a friend back out and took a fourth random person in that the apartment found. It was a nightmare. Awful roommate who never chipped in for utilities. It is a good concept but sucks when you get stuck with a dud. 1 Quote Link to comment Share on other sites More sharing options...
iah77 Posted September 30, 2022 Share Posted September 30, 2022 2 hours ago, thatguysly said: I had an apartment in college that was four bedroom with individual contracts. We had a friend back out and took a fourth random person in that the apartment found. It was a nightmare. Awful roommate who never chipped in for utilities. It is a good concept but sucks when you get stuck with a dud. This is literally the whole concept of tenement housing .. Multiple rented rooms with shared kitchen/bathroom. I mean I think its a great idea from an affordability standpoint but there's probably a reason they were totally phased out in the US .. Quote Link to comment Share on other sites More sharing options...
Moore-to-it Posted September 30, 2022 Share Posted September 30, 2022 4 hours ago, iah77 said: This is literally the whole concept of tenement housing .. Multiple rented rooms with shared kitchen/bathroom. I mean I think its a great idea from an affordability standpoint but there's probably a reason they were totally phased out in the US .. You would be surprised what 20 year Olds will tolerate to have their own space....I had 5 at 21.. One never bathe One would get drunk snd punch holes in the drywall One sleep walks in the .nude And two I'm convinced were in a secert gay relationship..because they use to share a bed all the time... quite a few times I came home late and the bedroom door was locked ( they had the only other bathroom). But hey it was a3 bedroom condo, split 5 ways so rent was dirt cheap Quote Link to comment Share on other sites More sharing options...
004n063 Posted October 1, 2022 Share Posted October 1, 2022 I'll say this: I'm in my 30s and would 100% consider moving here. The history behind the phasing out of tenements is an interesting one worth looking into if you have time. It's too much to explain fully here, but it basically boils down to something very similar to what we see in the current right/left NIMBY alliance: some people wanted to do something about the lack of tenants' rights so flagrantly on display in tenements, and others wanted to do something about the undesirable poors bespoiling their pristine neighborhoods. Decent building codes and legal rights for tenants can go a long way, and we've got those. Also, let's be real - there will probably be a lot of 22-year-old kids living there with lawyer parents, so I don't think the risk of serious abuses is very high. Quote Link to comment Share on other sites More sharing options...
hindesky Posted October 2, 2022 Share Posted October 2, 2022 9 Quote Link to comment Share on other sites More sharing options...
hindesky Posted October 3, 2022 Share Posted October 3, 2022 5 Quote Link to comment Share on other sites More sharing options...
77002er Posted October 4, 2022 Share Posted October 4, 2022 My prediction is that this concept will fail within 5 years and it will be converted into 1 and 2 BR apartments Quote Link to comment Share on other sites More sharing options...
Popular Post Texasota Posted October 4, 2022 Popular Post Share Posted October 4, 2022 I think that's wrong. Houston is still cheaper than most peer cities, but it *is* getting more expensive. I think to a lot of students, artists, service workers etc, this will be really appealing. And it has some security that just getting roommates doesn't have. I think there's a real possibility that this will just be the first of this type of building. Which would be great! Houston at its best produces options - a much more flexible housing market that provides the closest possible home for your specific needs and budget. 10 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 4, 2022 Share Posted October 4, 2022 30 minutes ago, 77002er said: My prediction is that this concept will fail within 5 years and it will be converted into 1 and 2 BR apartments If I could have a dollar for every time a HAIFer predicted failure. . . 1 1 Quote Link to comment Share on other sites More sharing options...
EllenOlenska Posted October 4, 2022 Share Posted October 4, 2022 What will never fail is that someone in some capacity will say "you know I think this building needs a little hat." 2 1 5 1 Quote Link to comment Share on other sites More sharing options...
phillip_white Posted October 4, 2022 Share Posted October 4, 2022 1 hour ago, Texasota said: I think there's a real possibility that this will just be the first of this type of building. Isn't this essentially the same set-up as the X properties? 1 Quote Link to comment Share on other sites More sharing options...
Texasota Posted October 4, 2022 Share Posted October 4, 2022 Maybe? If it follows X Phoenix it looks like it will be mix of coliving spaces and conventional apartments. Which is great - that means there are two versions of the concept going up in two different neighborhoods. More information for other developers to learn from. 1 Quote Link to comment Share on other sites More sharing options...
77002er Posted October 4, 2022 Share Posted October 4, 2022 (edited) 2 hours ago, Houston19514 said: If I could have a dollar for every time a HAIFer predicted failure. . . True, L O L , but who really wants to live in what is essentially a dorm if there are other options Edited October 4, 2022 by 77002er 1 Quote Link to comment Share on other sites More sharing options...
BEES?! Posted October 4, 2022 Share Posted October 4, 2022 (edited) I think this concept will end up working well here. Houston has lots of younger people moving here for work, many of them just out of college, so a setup like this could be attractive while they’re getting their jobs and beginning their lives out of school. It could also be a nice option for our many full-time service industry workers, if the price is right. If my math isn’t wrong- and I’m no math savant- these units will probably go for about $1k/month or thereabouts. Everywhere is getting a CoL increase thanks to inflation. Luckily Houston will remain more affordable than many other metros because we aren’t collectively allergic to building more housing 🙃 Edited October 4, 2022 by BEES?! 5 Quote Link to comment Share on other sites More sharing options...
Texasota Posted October 4, 2022 Share Posted October 4, 2022 (edited) 6 minutes ago, 77002er said: True, L O L , but who really wants to live in what is essentially a dorm if there are other options You've apparently never been between the ages of 18 and 30 and living paycheck to paycheck. All this does is formalize an arrangement a lot of people are in anyway. Edited October 4, 2022 by Texasota 4 Quote Link to comment Share on other sites More sharing options...
kennyc05 Posted October 4, 2022 Share Posted October 4, 2022 5 minutes ago, BEES?! said: I think this concept will end up working well here. Houston has lots of younger people moving here for work, many of them just out of college, so a setup like this could be attractive while they’re getting their jobs and beginning their lives out of school. It could also be a nice option for our many full-time service industry workers, if the price is right. If my math isn’t wrong- and I’m no math savant- these units will probably go for about $1k/month or thereabouts. Everywhere is getting a CoL increase thanks to inflation. Luckily Houston will remain more affordable than many other metros because we aren’t collectively allergic to building more housing 🙃 I can see people snatching these up quick with those prices! 2 Quote Link to comment Share on other sites More sharing options...
77002er Posted October 4, 2022 Share Posted October 4, 2022 12 minutes ago, Texasota said: You've apparently never been between the ages of 18 and 30 and living paycheck to paycheck. All this does is formalize an arrangement a lot of people are in anyway. No, I skipped over those years ....there was no money in it. 1 4 Quote Link to comment Share on other sites More sharing options...
004n063 Posted October 4, 2022 Share Posted October 4, 2022 2 hours ago, 77002er said: True, L O L , but who really wants to live in what is essentially a dorm if there are other options Are there other options for the same price, in the same location, with the same amenities? Quote Link to comment Share on other sites More sharing options...
clutchcity94 Posted October 4, 2022 Share Posted October 4, 2022 (edited) This location is arguably the best location in the entire city to get to desirable parts of the city very quickly. It’s also in a fun neighborhood. I think it’ll do well. Edited October 4, 2022 by clutchcity94 4 Quote Link to comment Share on other sites More sharing options...
BeerNut Posted October 8, 2022 Share Posted October 8, 2022 The Ion and Wheeler Transit Center are really close to this location. 3 Quote Link to comment Share on other sites More sharing options...
004n063 Posted October 8, 2022 Share Posted October 8, 2022 5 minutes ago, BeerNut said: The Ion and Wheeler Transit Center are really close to this location. And it'll be right on the University BRT line (though idk where the nearest stop would be - presumably Montrose? Hoping the buses for that line are bike-on like the rail). 1 Quote Link to comment Share on other sites More sharing options...
BeerNut Posted October 8, 2022 Share Posted October 8, 2022 1 minute ago, 004n063 said: And it'll be right on the University BRT line (though idk where the nearest stop would be - presumably Montrose? Hoping the buses for that line are bike-on like the rail). It supposed to have walkon/walkoff like LRT. I would hope there would be areas for people to bring their bikes. 2 Quote Link to comment Share on other sites More sharing options...
004n063 Posted October 8, 2022 Share Posted October 8, 2022 19 minutes ago, BeerNut said: It supposed to have walkon/walkoff like LRT. I would hope there would be areas for people to bring their bikes. Has anyone here tried bringing a bike on the Silver Line? Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted October 9, 2022 Share Posted October 9, 2022 3 hours ago, 004n063 said: Has anyone here tried bringing a bike on the Silver Line? Yeah. It's large enough to carry it on like the light rail. 2 Quote Link to comment Share on other sites More sharing options...
hindesky Posted October 9, 2022 Share Posted October 9, 2022 6 Quote Link to comment Share on other sites More sharing options...
hindesky Posted October 12, 2022 Share Posted October 12, 2022 4 Quote Link to comment Share on other sites More sharing options...
hindesky Posted October 16, 2022 Share Posted October 16, 2022 4 Quote Link to comment Share on other sites More sharing options...
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