The round bit of the Tremont Tower condo complex behind Doc’s was photographed entirely uncovered last week, nearly a year after the last confirmed sighting of the bare turret (and at least 2 years after the obscuring tarp was first installed). The reader who captured the shot (who adds that he “thought they only removed it to signify the election of a new pope”) didn’t catch the denuders in the act, however. The Montrose sighting comes just a day or so after those tornado-warning-laced storms blew through; perhaps incidentally, the tarp’s previous disappearance was also heralded by windy weather.
- Previously on Swamplot: Tremont Tower Tarp Returns After Brief Hiatus; Finding Hidden Value in the Tremont Tower; Tremont Tower: How Bad Could It Be, Really?; New Ways To Explore Houston’s Foreclosure Bubbles; Tremont Tower Video: How Construction Problems Attract Foreclosure Pileups; The Dirty Little Secret Behind the Montrose Foreclosure Hump
Photos: Swamplot inbox (top), Hey Hey Houston (second)
Baring All in Montrose
The lawsuit(s) may be over !!!
For the love of God please implode this disaster of a building.
Thanks for posting this. In the era of fake news, now would be a good time to post the truth. The tarp was removed several weeks ago, unrelated to the recent storms. It was removed because the entire exterior of the building is undergoing a refresh. Construction has already begun. It is true that the building was in a lawsuit, which is now resolved, resulting in a large settlement. Anyone who actually knows about the building knows that it is a great place to live for both renters and owners. The Tremont is nearly completely occupied with a high owner occupancy rate, a flush reserve, and a strong, involved HOA/management team. Any problems the building had in the past have long ago been resolved. Most of the rumors on this website and others are just that. Skeptical? Check it out for yourself or check with anyone who lives there.
I did check it out, using some of the tools available to anyone.
Following is a repost from my comments of a couple months ago on the 2008 story at http://swamplot.com/tremont-tower-how-bad-could-it-be-really/2008-05-29/#comment-4422865 :
HCAD offers a download of their entire database. Using the residential homestead exemption as a proxy, it’s possible to determine that only about 1/3 of Tremont unit owners (26 out of 76) seem to actually live in their condos. There are quite a few LLCs and trusts listed among the owners as well.
If your building is truly 65% owner-occupied, then why don’t you give your building-mates a break on their taxes by letting them know about the homestead exemption? 50 out of 76 owners don’t take it. Of course, they would have to actually live in the unit to take the exemption…
I never understood all the Tremont Tower hate. It’s in an awesome location, is pretty new, and was (for a while at least) pretty cheap.
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If lots of people own them as rentals, they’re not doing pretty well (based on what they’re getting in rent vs. what they cost to buy + HOA). Better to buy some 8 unit somewhere
Your facts are both dated and incorrect. Haters gonna hate.
I don’t hate the Tremont Tower, but I think it’s a kinda ugly building whose red-color paint puts it into the fully ugly category.
@MontroseInsider I am sure there are great people who live in the “nearly occupied” fabulously located Tremont Towers. After all its been what 10 or more years since its been “ready” for occupancy?. That still doesn’t change my opinion of the quality of the construction or the integrity of the builder. I almost bought a unit back in 2001 when it was nothing but an empty lot and a sales trailer. I became suspicious when I left my name/contact info and yet no one called to follow up or inquire on my interest. This is pretty unusual for pre-construction sales.. I quickly moved on and bought a house. I would pass by from time to time after that and saw no action or building in progress. I would remind myself thanking God I didn’t make a purchase and end up waiting and dealing with that legal mess. Once construction finally started on Tremont Tower (which seemed to take forever!) I would watch with confirmation that I made the best choice. BTW these are the same builders of Hyde Park Crescent a few blocks away. I have friends that own/live there and know of the stucco fiasco that has cause mold in several units. You may feel victorious and satisfied of your HOA/management progress and I do commend you for it but my opinion still stands… Implode the heap of a mess once but not before all the great people are out of the building of course. Lesson learned, always research builders before buying new or newer builds. => Note: The above is not fake news, it is my personal experience and opinion.
I’m not sure at whom MontroseInsider’s “Your facts are both dated and incorrect.” was directed, but I’ll assume it was aimed at me since I’m the only one who has presented any facts.
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Yes, you’re right. My data *was* outdated. When I pulled those numbers in February 2017, there were 26 units with residential homestead exemptions, but when I pulled them again today (March 29 data), there are only 24. Of the 19 units on each of the 4 floors (76 total), there are residential homestead exemptions for 9 units on 3, 4 units on 4, 4 units on 5, and 7 units on 6.
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Of the remaining 52 units in the building:
– 4 are owned by someone with a US address other than TX
– 14 are owned by someone with a TX address other than Houston
– 3 are owned by a Houston-based real estate company that leases apartments
– 3 are owned by a Houston-based LLC or Trust (There are other LLC/trust-owned units, but they’re already accounted for in the non-Houston addresses.)
– 15 are owned by an individual whose mailing address is elsewhere in Houston
– 3 are owned by owners-occupiers of a different unit in the same building (i.e. they own multiple units)
– 8 are owned by someone whose address is that unit and who purchased prior to 2016, and does not have a homestead exemption (ignorant, procrastinating, or not really living there)
– 2 are owned by someone whose address is that unit and who purchased in 2016, and may not yet have filed for homestead exemption
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So, you could possibly make some sort of allowance for the last 2, but the 8 prior to that all purchased between 2007 and 2013, so either they are ignorant of the exemption or just really procrastinating, or more likely not really living there after all. I mean, those places could always be pieds-Ã -terre for the owners, but let’s just apply Occam’s Razor here.
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As for incorrect, well, I’m getting my facts from a data dump retrieved from an official government website (HCAD). Where are you getting your facts from?
I’ve rented in the Tremont for 3 years and I am getting my paperwork and finances together to buy a unit here as soon as I finish my residency. And yes we are all happy that the tarp is gone (seems like it’s been gone for months now). Maybe we ought to have a celebration by the pool :) BTW I have some pretty cool neighbors!
It’s interesting for people who DON’T live in the building to have such strong opinions about construction, mold and quality of the housing. I have lived here since 2011 and I love it. First as a renter and then as an owner. The location is perfect, the neighbors are awesome and I love the unique loft layouts of the apartments. I wouldn’t have bought here if I had concerns about mold or anything else after living here.
Personally, I don’t care if the building is owner occupied or not or if people file for homestead exemptions. I love living here and don’t regret my decision at all. There is much more that weighs into a decision to live somewhere or purchase a property and I have no regrets about my decision. I love condo living and feel really safe in the building. Given the alternatives in the neighborhood, I would still pick my place over again especially with the fabulous view I have of downtown.
Have lived here for three years–love it. Great on-sight manager, great HOA and great peeps. Love the privacy inside the middle of the city- and best deal in Houston. Also, glad the building exterior etc is being updated–interior always maintained and very clean