hindesky Posted June 28, 2022 Author Share Posted June 28, 2022 (edited) Proposed new plat. Architect - https://www.albert-architecture.com Edited June 28, 2022 by hindesky 3 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted October 7, 2023 Share Posted October 7, 2023 (edited) Whatever plans were in place for 1014 Prairie St may be tabled, at least for now. The 14,338-square-foot building at 1014 Prairie St is for sale. I think 1014 Prairie St has been on the market since August, at least, according to listings on LoopNet and Crexi. Partners, a commercial real estate firm serving Austin, Dallas, San Antonio, and Houston is marketing the downtown property. The listing notes plans are "approved for a 19 unit multifamily renovation with a retail space on the ground floor. A full set of approved plans is available for use for the new owner of the building." So, it's possible whomever purchases the property can choose to move forward with those plans or not. From the listing: Partners is pleased to present this unique development opportunity in the Market Square Historic District of Downtown Houston. This Historic building, originally constructed in 1920, has been gutted and is now approved for a 19 unit multifamily renovation with a retail space on the ground floor. A full set of approved plans is available for use for the new owner of the building. Those plans support a ~1,750 sf retail space on the 1st floor, 14 one bedroom units, 2 two bedrooms units, and 3 studios. The proposed project would add a 4th floor above the current roof line and add patio terraces for some of the 4th floor occupants. The building could also be converted to office or another use. This property is in an opportunity zone and is also approved for State and Federal Historic Tax Credits, which when combined could significantly reduce tax liabilities for a qualified owner. Bridge financing is also available for these tax credits to generate extra capital for construction. This building has an incredible central location next to a food hall, bars, restaurants, Main St and the metro rail – and could be a very lucrative investment for the right buyer. Below are additional details from the listing: Sale Type: Investment or Owner User Property Type: Retail Property Subtype: Restaurant Building Size: 14,338 SF (current) 17,947 sf gross building area (proposed) Building Class: B Year Built: 1920 Price: $2,950,000 Price Per SF: $206 Building Height: 3 Stories Land Acres: 0.12 Acres Land Size: ±5,139 sf Parking: 4 Spaces Frontage: 50 FT on Prairie St https://partnersrealestate.com/listings/1014-prairie-st-houston-sale/ https://www.loopnet.com/Listing/1014-Prairie-St-Houston-TX/29287167/ https://www.loopnet.com/viewer/pdf?file=https://images1.loopnet.com/d2/XOOmZrFXQ5FVIZ1z9uyDn2rgBkxCHUfEoPe3t4-TdVA/1014 PrairieFlyer.pdf https://images1.loopnet.com/d2/XOOmZrFXQ5FVIZ1z9uyDn2rgBkxCHUfEoPe3t4-TdVA/1014 PrairieFlyer.pdf https://www.crexi.com/properties/1204236/texas-prairie-apartment-redevelopment-project---approved-plans Edited October 7, 2023 by IntheKnowHouston Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted October 7, 2023 Share Posted October 7, 2023 (edited) Exterior photos of 1014 Prairie St included in marketing materials. As noted in the post above, 1014 Prairie St is for sale. https://partnersrealestate.com/listings/1014-prairie-st-houston-sale/ Edited October 7, 2023 by IntheKnowHouston 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted October 7, 2023 Share Posted October 7, 2023 Interior photos of 1014 Prairie St included in marketing materials. As noted, 1014 Prairie St is for sale. https://partnersrealestate.com/listings/1014-prairie-st-houston-sale/ 1 Quote Link to comment Share on other sites More sharing options...
ATH Posted October 10, 2023 Share Posted October 10, 2023 This will be a difficult property to sell or develop. The Episcopalians allow the downtown homeless to sleep on the sidewalks of the Episcopal Health Foundation building next door with no regard to the affects on adjacent businesses or residences. 1 Quote Link to comment Share on other sites More sharing options...
quietstorm Posted October 10, 2023 Share Posted October 10, 2023 18 hours ago, ATH said: This will be a difficult property to sell or develop. The Episcopalians allow the downtown homeless to sleep on the sidewalks of the Episcopal Health Foundation building next door with no regard to the affects on adjacent businesses or residences. I don't disagree that the site may be hard to develop. However, here is some additional context on why homeless people sleep in the area--the Episcopal Diocese's Beacon Center is located there. This is where downtown's homeless population can go for daily hot meals, showers, laundry and social and mental health services. And to your point, there are currently business and residences in the area, so development in the area does occur. I haven't been in a while, but the underground food hall seemed to be doing ok. Quote Link to comment Share on other sites More sharing options...
staresatmaps Posted October 19, 2023 Share Posted October 19, 2023 I wonder how many members of that church actually live in or near Downtown. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 19, 2023 Share Posted October 19, 2023 (edited) On 10/10/2023 at 5:39 PM, quietstorm said: I don't disagree that the site may be hard to develop. However, here is some additional context on why homeless people sleep in the area--the Episcopal Diocese's Beacon Center is located there. This is where downtown's homeless population can go for daily hot meals, showers, laundry and social and mental health services. And to your point, there are currently business and residences in the area, so development in the area does occur. I haven't been in a while, but the underground food hall seemed to be doing ok. Nope. The Episcopal Health Foundation building is at Prairie and Fannin. No meals are served there, but they let the sidewalks be a campground at night. The Beacon is two blocks further east. The Episcopal Health Foundation is kinda like a big middle finger to the downtown community, IMO. (Part of the reason I no longer go to church there) Edited October 19, 2023 by Houston19514 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted October 23, 2023 Share Posted October 23, 2023 On 10/18/2023 at 8:47 PM, Houston19514 said: Nope. The Episcopal Health Foundation building is at Prairie and Fannin. No meals are served there, but they let the sidewalks be a campground at night. The Beacon is two blocks further east. The Episcopal Health Foundation is kinda like a big middle finger to the downtown community, IMO. (Part of the reason I no longer go to church there) And what sucks is this part of Downtown has some nice charm but it's trashed half the time 2 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.