ricco67 Posted December 5, 2004 Share Posted December 5, 2004 http://www.chron.com/cs/CDA/ssistory.mpl/front/2931497 PENDING PROJECTS At the end of the line Stubborn area to develop now looks primed with cheap land that's close to the Medical Center By NANCY SARNOFF Copyright 2004 Houston Chronicle DRIVE around the southern end of Metro's nearly year-old light rail line just outside the South Loop, and what emerges are overgrown tracts of land surrounded by a hodgepodge of warehouses, apartments, AstroWorld and even pumps from an old oil field. But observers say the area is on the cusp of a development explosion because of its cheap land and proximity to the ever-growing Texas Medical Center. "The area's been slow to develop," said Bob Parsley of realty firm Colliers International. "But we're beginning to see an overall acceptance in the marketplace for being south of 610." Indeed, home builders, industrial developers and land speculators are jockeying for still-vacant parcels just beyond the Metro terminus, fueling a land rush in this long-neglected area. Houston developer Frank Liu, who's building new homes nearby, owns about 60 acres surrounding Metro's Fannin South station, the last stop on the city's 7.5-mile light rail line connecting downtown with this area just south of Reliant Stadium. While he's not yet ready to tip his hand, Liu controls enough land in the area to create a sizable community where folks could live, work and shop. "The great thing about that piece of property is that it's so close to the rail stop and so close to the Medical Center," Liu, president of InTown Homes, said. "You just can't go wrong." These open spaces and still-low land prices are attracting developers whose options for development closer in are limited. "Land costs are just a fraction of what they are in the Medical Center," said David R. David of Warehouse Associates, a real estate firm building warehouses in the area and attracting more medical users than ever before. The company has leased space to a DNA lab, surgical center and a dialysis facility. In 2001, when the company built its first project there, medical firms didn't want to move south of the Loop, which was then seen as too far from the Medical Center. "We're seeing more demand for our sites," David said. "Today, I think we're a politically acceptable location for medical support." Jumping on bandwagon Other local developers have quickly caught on to the growing acceptance of this area, which, if it was noticed at all, was associated with a stretch of crime-ridden apartment buildings in the western corner. A group of investors has put together around 200 acres south of West Bellfort and east of South Main where it plans to develop a master-planned residential community. The project, which could spawn 1,000 homes, has been dubbed Buffalo Lakes. "We were attracted to the area primarily because of its proximity to the Medical Center and Reliant Center," said Joel Scott, who manages the partnership and is a principal in Terramark Communities, a Houston-based real estate development firm. Road work is tackling a long-standing obstacle to development. Buffalo Speedway, a major north-south thoroughfare that ends at West Bellfort, will likely be extended south to Holmes Road, improving access to Scott's project. Not waiting around Other developers haven't needed much convincing. A smattering of residential and commercial projects have been sprouting up among all the vacant land. Dozens of $200,000 townhomes line the streets near Link Valley, a neighborhood off Stella Link that used to be known by the nickname Death Valley. And Chancellor Properties recently completed Villas at Coronado, a 344-unit apartment complex on the Lakes at 610 just south of West Bellfort. The new project is around 80 percent occupied, according to O'Connor & Associates, a research firm. Apart from his planned development near the rail stop, Liu has started building townhomes in a project called Lake Pointe across from the apartment complex. The patio-home development built around a clubhouse, jogging trail and swimming pool will include 219 units when complete. Since the end of February, 77 units have been sold. The majority of buyers are professionals from the Medical Center, said Emily Wang, a sales consultant for Liu's company InTown Homes. "They're first-time buyers, mostly," she said. But it will be a while before development hits the area surrounding the end of the line. Liu is still formulating a plan for his acreage near the Fannin Street station. He said it will ultimately contain a combination of uses that will play off the light rail system. "Houston has always been a society of cars," said Tony Patronella, a real estate broker with Southwest Realty Advisors who has brokered many of the land deals in the area. "This will be the first time a subdivision is planned directly because of the light rail." nancy.sarnoff@chron.com Quote Link to comment Share on other sites More sharing options...
Talbot Posted December 6, 2004 Share Posted December 6, 2004 A group of investors has put together around 200 acres south of West Bellfort and east of South Main where it plans to develop a master-planned residential community.The project, which could spawn 1,000 homes, has been dubbed Buffalo Lakes.<{POST_SNAPBACK}>I hope this is a townhome residential area; which im sure it is since it's in the loop, instead of a suburban home residential area. Quote Link to comment Share on other sites More sharing options...
UrbaNerd Posted December 6, 2004 Share Posted December 6, 2004 I thought these were JUST south of the loop..... Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted December 6, 2004 Share Posted December 6, 2004 Big risk here, since much of that land is old oil fields and chemical companies. Quote Link to comment Share on other sites More sharing options...
TxDave Posted December 9, 2004 Share Posted December 9, 2004 This is kind of surprising given that this is not exactly the "prettiest" area of town, but I guess there have been many areas developed that were not "pretty" at the time. It would be nice to see something good happen down there. Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted December 9, 2004 Share Posted December 9, 2004 Big risk here, since much of that land is old oil fields and chemical companies. <{POST_SNAPBACK}> Typical liberal hippie. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted December 9, 2004 Share Posted December 9, 2004 Kudos to Mr. Liu for being one of the first people to finally start taking a chance no that area of the city. If he stays dilligent and has even just an average rate of success, I think the area will be transformed and so much of that vacant land south of Holmes Road and beyond will see some infill, especially with Pearland, Manvel and eastern section of Missouri City are all growing at an impressive rate.I also love the comment from the developer who says that he's looking into developing one of the first communities in Houston to be planned around a rail line instead of a highway/freeway.That said, I think Buffalo Bayou and Kirby Drive south of the Loop are the most corridors to explode in the coming years, followed by Fannin. Quote Link to comment Share on other sites More sharing options...
HeightsGuy Posted December 9, 2004 Share Posted December 9, 2004 Questions: The first question one might ponder is how, in the year 2004, does one find 200 acre parcels of land minutes to downtown....Second, when one does find those parcels, why are they using the term development and not re-development or re-vitalization.....Hint: Houston is known as a certain capital. It starts with O and ends with L, and in the old days it didn't cost that much so when you pumped it out of the ground a lot of spilled out, and since there were no environmental laws nobody really bothered to clean it up.You couldn't pay me to raise my kids in that area. Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted December 9, 2004 Share Posted December 9, 2004 You couldn't pay me to raise my kids in that area.Agreed. There is a reason the land behind Astroworld looks like an abandoned oil field.It is. Quote Link to comment Share on other sites More sharing options...
ricco67 Posted December 10, 2004 Author Share Posted December 10, 2004 Also let it be known that Neighbhorhood development has occured in several areas that were considered serious environmental conditions. some of the places have been over an old garbage dump, an area with so much broken glass that it sparkled when flown over during the day light, amoung other areas. If the places are Buried/cleaned up enough, they will be able to serve as communities. the fact that they were "discovered" was the fact that people didn't NEED to clean them up. Now with a fairly high-income coming to move into that area, you can bet your last dollar that they will clean it up as much as is possible so that those moving in won't come back and sue them in case there is a sudden emergence of Funny Looking Kids born in the area. Ricco Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted December 10, 2004 Share Posted December 10, 2004 you can bet your last dollar that they will clean it up as much as is possibleMaybe. Don't forget the Brio site on Dixe Farm Road at Beamer. The Southbend subdivision was built on top of a toxic waste dump. Quote Link to comment Share on other sites More sharing options...
Lowbrow Posted December 10, 2004 Share Posted December 10, 2004 Maybe. Don't forget the Brio site on Dixe Farm Road at Beamer. The Southbend subdivision was built on top of a toxic waste dump.<{POST_SNAPBACK}>From a environmental perspective Southbend and areas south of the Astrodome are exactly alike. Remediation is expensive but not impossible. Quote Link to comment Share on other sites More sharing options...
20sGirl Posted December 10, 2004 Share Posted December 10, 2004 Don't forget the Brio site on Dixe Farm Road at Beamer. The Southbend subdivision was built on top of a toxic waste dump.<{POST_SNAPBACK}>But were high-income people moving to that area? I think Ricco had a good point. If hi-dollar folks are moving in, things will probably be cleaned up pretty well. Money rules in this world unfortunately. Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted December 10, 2004 Share Posted December 10, 2004 The articles says "They're first-time buyers, mostly," she said.Not sure if that's "high dolla". Quote Link to comment Share on other sites More sharing options...
20sGirl Posted December 10, 2004 Share Posted December 10, 2004 "The majority of buyers are professionals from the Medical Center" True, they're first time buyers but that doesn't mean they're cheap. $200,000 townhomes sounds expensive to me--for Houston. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted September 12, 2005 Share Posted September 12, 2005 any news on this? i drove past it today and the sign is still there, but nothing there is going up except the vines and brush... Quote Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted September 12, 2005 Share Posted September 12, 2005 Maybe. Don't forget the Brio site on Dixe Farm Road at Beamer. The Southbend subdivision was built on top of a toxic waste dump.<{POST_SNAPBACK}>While you're at it, don't forget the Humble/Atascocita/Kingwood area...that's the old Humble Oil Field. Land that was covered with thousands of oil wells is now covered in thousands of homes. It hasn't slowed that area down... Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted September 12, 2005 Share Posted September 12, 2005 don't forget the Humble/Atascocita/KingwoodYes, but Brio hid the fact that they illegally disposed of toxic waste for many years. It only came to light after so many people came down with cancer who lived in that hood. It's a Super Fund site for crying out loud. The oil fields you mention are NOT Super Fund sites nor are they illegal toxic waste dumps. Quote Link to comment Share on other sites More sharing options...
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