WestGrayGuy Posted August 31, 2004 Share Posted August 31, 2004 A popular topic for this area of town is the Plaza Hotel located on Montrose close to 59. The issue remains, what should or could be done with this property. Obviously, it would make some bad ass lofts. The last I heard was that a developer was holding out to recover the amount of money he invested in the 80's. From what I understand this is several million dollars.Anyone have any new information on the grand ole Plaza Hotel? 1 Quote Link to comment Share on other sites More sharing options...
ssullivan Posted August 31, 2004 Share Posted August 31, 2004 A popular topic for this area of town is the Plaza Hotel located on Montrose close to 59. The issue remains, what should or could be done with this property. Obviously, it would make some bad ass lofts. The last I heard was that a developer was holding out to recover the amount of money he invested in the 80's. From what I understand this is several million dollars.Anyone have any new information on the grand ole Plaza Hotel?Yeah it would make some great lofts, except I've heard from multiple sources that the ceilings on each floor are pretty low by today's standards, and the building's design makes it difficult to increase the height of them. There's also asbestos and 25+ years of decay to deal with, and asbestos. And an owner who wants far too much money for the property. And a parking situation that is less than ideal. While the building is architecturally interesting and worth saving, the odds of succesful redevelopment happening are severely impaired by all of the things the place has going against it. It is a shame because it has a great location and could be a really neat place to live. Quote Link to comment Share on other sites More sharing options...
The New Juniper Posted September 1, 2004 Share Posted September 1, 2004 We have tried to buy the building numerous times. I know of at least four other groups that have tried to buy it.Seller is crazy European who wants WAY too much for it.It is a blight on the neighborhood and a shame that the seller continues to hold it. Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted September 1, 2004 Share Posted September 1, 2004 Then why did I read in the HBJ two years ago that Finger had purchased the property? I read they bought it from the Euros.Have they since sold to other Euros? Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 1, 2004 Share Posted September 1, 2004 The Finger sale never went through. Not enough parking, too many development issues, stupid owners. Quote Link to comment Share on other sites More sharing options...
Houston Retail Posted September 2, 2004 Share Posted September 2, 2004 i know alot of people that have gotten close to the 4 mil ask price. someone soon will feel like the market has finally caught up with the ask. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted September 4, 2004 Share Posted September 4, 2004 The Finger sale never went through. Not enough parking, too many development issues, stupid owners.<{POST_SNAPBACK}>Stupid?One of these days, someone's going to buy that thing. And while we've added new wrinkles to our forehead from years of hand-wringing and frustration, they'll be counting out their four million dollars.Evil, yes. Stupid, no. Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 4, 2004 Share Posted September 4, 2004 I don't know. The Plaza has been vacant for nearly 20 years. All that time they've been paying property taxes and the property has decayed, making it worth even less, and they've been holding out for a price that the market obviously doesn't agree with. Maybe not exactly "stupid", but close to it. Sitting for decades on a decaying asset hardly strikes me as an especially astute business strategy. Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 17, 2004 Share Posted September 17, 2004 Big news from today's Chronicle. I really hope this works out! By NANCY SARNOFF Copyright 2004 Houston Chronicle A local development group is planning three health care facilities on the outskirts of the Texas Medical Center. In a separate transaction, a related group has acquired the former Plaza Hotel at 5020 Montrose Blvd. The Museum District building will be redeveloped into a medical office building. The partners plan to renovate the old hostelry into a medical office building called Plaza Medical Center. Delgado said the 72,000-square-foot, nine-story building already has physicians committed to lease nearly half of the space. Link Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted September 17, 2004 Share Posted September 17, 2004 "has acquired"...the two sweetest words in the English language (and wonder how you say it in French? ) So happy to hear the Plaza has been rescued from those ninnies. Wonder how they'll address the parking issue? Quote Link to comment Share on other sites More sharing options...
Talbot Posted September 17, 2004 Share Posted September 17, 2004 I hope it turns out nice. Im glad that they're planning on renovating it. Quote Link to comment Share on other sites More sharing options...
firstngoal Posted September 17, 2004 Share Posted September 17, 2004 The Houston Business Journal has a story about the former Plaza Hotel as well, which includes a rendering of the renovated exterior. Looks good... I'm very happy to see this happening.BTW, Jennifer Dawson at the HBJ is doing a great job as a replacement to Nancy Sarnoff.JPM Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 20, 2004 Share Posted September 20, 2004 "has acquired"...the two sweetest words in the English language (and wonder how you say it in French? )So happy to hear the Plaza has been rescued from those ninnies. Wonder how they'll address the parking issue? According to the HBJ,a parking garage will be built on the west side that connects to each of the levels. I had always hoped that the Plaza would be coverted into residential, just so maybe I could get a chance to live there. Still, there's no looking this gift horse in the mouth. It was a terrible thing to see it vacant all those years. Quote Link to comment Share on other sites More sharing options...
ssullivan Posted September 20, 2004 Share Posted September 20, 2004 Hallelujah! This is great news. I hope the redevelopment is successful but at least the property is now in the hands of a gropu that actually intends to do something with it. Quote Link to comment Share on other sites More sharing options...
HoustonMidtown Posted November 13, 2004 Share Posted November 13, 2004 Im not from Houston, so I don't know the official name of the old hotel on Montrose, near the museum district....but it has a big sign out front stating something to the affect that is has been sold. Does anyone know what is going to happen to it? (Sorry if this is old news...I couldn't find it on the site anywhere...)Mark Quote Link to comment Share on other sites More sharing options...
Houston Retail Posted November 13, 2004 Share Posted November 13, 2004 your talking about the plaza hotel. the prior owner was pretty stuck on his $4mil sales price, so it sat vacant for a long time, but aparently this group got it for a bit less. its going to be converterd into medical office space. Quote Link to comment Share on other sites More sharing options...
Duce Posted December 16, 2004 Share Posted December 16, 2004 I heard that the Finger Companies had the building and were going to convert it to apartments... not sure if thats current or dead... Quote Link to comment Share on other sites More sharing options...
bachanon Posted January 19, 2005 Share Posted January 19, 2005 Plaza Hotel New owners are planning to redevelop the historic Plaza Hotel, 5020 Montrose Blvd, as a medical office building to be called the Plaza Medical Center. A group of Houston investors has purchased the long-vacant landmark from the French company that has owned the property since the 1990s. According to the Houston Business Journal, total costs for the project could reach $24 million. Plans call for a total exterior restoration with modern interior design. The building formally opened Feb. 21, 1926, as the Plaza Apartment Hotel, Houston's first facility to provide hotel accommodations and suites for permanent residents. The concept was based on the Ritz Carlton in New York and the Biltmore in Atlanta, among others. The architect Joseph Finger decorated the splayed wings of the building with neoclassical and Italian Renaissance motifs. The Plaza operated as a traditional hotel until the 1980s. GHPA has been monitoring the building for many years. Staff members have met with neighborhood representatives and interested investors to discuss the property's potential and address local concerns about any redevelopment proposals. Link i realize this is somewhat redundant. does anyone know the current status of this project? Quote Link to comment Share on other sites More sharing options...
Subdude Posted January 20, 2005 Share Posted January 20, 2005 As of last night there are signs announcing the redevelopment on the property, but no construction activity yet. Quote Link to comment Share on other sites More sharing options...
volvo99 Posted April 22, 2005 Share Posted April 22, 2005 The Plaza is on my daily walking route from UST to Hermann Park and back.I've noticed this is the second week carpenters are inside hard at work.Progress is being made. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 22, 2005 Share Posted April 22, 2005 Stupid?One of these days, someone's going to buy that thing. And while we've added new wrinkles to our forehead from years of hand-wringing and frustration, they'll be counting out their four million dollars.Evil, yes. Stupid, no.<{POST_SNAPBACK}>"un, deux, trois, quatre... hugh-hugghh! ...cinq, six, sept, huit..." Quote Link to comment Share on other sites More sharing options...
k.art Posted June 19, 2005 Share Posted June 19, 2005 The Plaza is gutted and the exterior is being cosmetically repaired with new windows and cleaned of grafitti.k.art Quote Link to comment Share on other sites More sharing options...
largeTEXAS Posted June 20, 2005 Share Posted June 20, 2005 It's bothersome to see the cheap windows they seem to be trying out on the first floor of the building. To redo that building with cheap, suburban windows would be a disgrace. Quote Link to comment Share on other sites More sharing options...
Subdude Posted June 20, 2005 Share Posted June 20, 2005 The new paned windows are actually replicas of the original windows in the building. It really makes a difference in the look, especially compared to the ugly bronze 1970s-style ones that were there before. To me, that was the big mistake in the restoration of the Sam Houston hotel - they didn't change out the windows, and it doesn't look right.Btw work on the Plaza is coming along nicely. The interior is about totally gutted. Check out the Houston Business Journal for illustrations of the new project. Quote Link to comment Share on other sites More sharing options...
k.art Posted June 20, 2005 Share Posted June 20, 2005 The new paned windows are actually replicas of the original windows in the building. It really makes a difference in the look, especially compared to the ugly bronze 1970s-style ones that were there before. To me, that was the big mistake in the restoration of the Sam Houston hotel - they didn't change out the windows, and it doesn't look right.Btw work on the Plaza is coming along nicely. The interior is about totally gutted. Check out the Houston Business Journal for illustrations of the new project.<{POST_SNAPBACK}>Yes, the original windows were divided light above, solid pane below. One of the samples is white and the other is a gold, not bronze. The bottom 20 feet of the facade has been superficially regrouted and the vandalized terrazo will be repaired / replaced with concrete and then painted "tan". It's quite nice looking through the building with the walls removed and seeing all that open space.There must not have been any asbestos in the building because I never saw any dust-control measures taken. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted June 22, 2005 Share Posted June 22, 2005 the plaza hotel (1926, designed by joseph finger) is currently owned by someone named Ray Khirallah from a company called MBM International, Inc. it is being converted into offices, but it is taking them a LONG time to do so (funding, perhaps?). the interior was pretty bad before renovation (animals/people living in the abandoned building for a couple decades or so...), but not as bad as some that are out there and are continuing to deteriorate (savoy, plaza downtown, etc.). a wise move would be to apply for the property to be put on the national register of historic places to protect it in the future (although most money-hungry real-estaters aren't in to the whole preservation thing). Quote Link to comment Share on other sites More sharing options...
infinite_jim Posted June 23, 2005 Share Posted June 23, 2005 THAT BUILDING IS A "TEAR DOWN" Quote Link to comment Share on other sites More sharing options...
kjb434 Posted June 24, 2005 Share Posted June 24, 2005 The rennovation is moving along quickly actually since they are dealing with lots of asbestos.There is another thread entirely about this building. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted June 26, 2005 Share Posted June 26, 2005 THAT BUILDING IS A "TEAR DOWN" Quote Link to comment Share on other sites More sharing options...
57Tbird Posted July 2, 2005 Share Posted July 2, 2005 Interesting Plaza ad from 1944. 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.