WHAT A PLACE AT THE SOVEREIGN WILL COST YOU 
A couple of readers have written in noting their own sticker shock at the pricing announced for the 290 apartments at the still-under-construction 21-story Sovereign at Regent Square tower. One bedrooms will start at $2070 a month, two bedrooms at $3070, and studios at $1615. A temporary leasing office run by Boston-based Windsor Communities will open in a couple of weeks; the first units at 3233 West Dallas St. should be ready for occupancy by July 15th, the company says. [Swamplot inbox; previously on Swamplot] Photo: Alonso Ortega
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Don’t know why anyone would be surprised, the Windsor highrise that went up on Memorial rents for more than that..
Sounds about right to me…
To bad that picture is of the Hanover Tower at BLVD Place……..
daaaaaaaaaaaaaaamn.
Our Montrose studios are under priced then :)
They have a web site with no floor plans or other information, aside from generic amenities images resembling every other such project in town. Is the location really that special? Light rail is far away from there…
@chris fewell: Yikes! Thanks for catching that. We’ve switched it out.
Am I the only one who thought those numbers sounded low?
After the fire down the street, the demand just went up…
I lived in L.A. for over a decade, so this is such a bargain it’s amazing. Houston as always has to beware if overbuilding the boom, however this building has a great location and I’m sure will have no trouble with occupancy issues—it really is staggering all the building going on, but still id like to have seen a real game changing skyscraper downtown, in the 85 story plus range–609 Main is a very cool design, but 49 stories in its location isn’t going to impact the skyline much, looking at the skyline from the west you won’t see it at all.
Would be interesting to see current occupancy rates of these higher end developments.
Good luck with 30% occupancy; same as 7 Riverway now and they’re building another one next my office at 1 Riverway. That certainly doesn’t also cover the concierge fees, trash pickup, etc. and for $2000 a month you could easily have a nice home as opposed to a shoebox.
7 Riverway is 97% occupied according to the stats I have. Most of the well located new apts are leasing pretty quickly right now.
Old Braeswood:’ the real question now is, how long is this going to last? Houston is growing, and the portion of the growth that’s driving the Inner Loop Apartment Boom is young, educated people who come here for jobs in oil and medical professions. (If you’re moving here from Boston or New York, or Paris or London, $2,030 a month for a one-bedroom apartment IS NOT a shock). That growth can’t go on forever. And when it slows down or stops, bad things are going to happen.
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That said, I actually like that they’re jacking rents up so high in desirable neighborhoods Inside the Loop. It pushes people to go in search of new parts of town to live in. I credit them in large part for helping us -finally- absorb the last of the 1970s-overbuilt apartments in my neck of the woods.
It’d be interesting to see the occupancy rates and demographics. I must say I’ve been priced out the market for anything new inside the loop, so I’m opting to move to some place where I’d never thought I’d go. The good thing is that for the same price or cheaper for a 500 to 600 sq ft. flat, I’m getting 2BR and 2Ba with the same amenities, minus the awesome bars and restaurants.
Both multifamily and single family housing are still catching up to the job growth that’s already occurred. While job growth is slowing, it’s hardly stopping (probably will still have 65K – 70K job growth in 2014), so we’ve got a ways to go. At some point in the next couple years, the additions to multifamily stock will be enough that the rapid rent increases will stop, and rents will plateau or soften a bit. That’s fine. Those of you fearing that suddenly these new complexes will have the bottom drop out and start renting to felons and welfare recipients need to get a grip, if that happens then Houston (and most likely the nation and the world) have economic problems that are much much more severe than overbuilt multifamily.
It’s location. So many great Bars and restaurants you can walk to. Beautiful Allen Pkwy. Easy access to freeways. Location location location.