06/29/09 2:48pm

Why hasn’t this cute little cottage on South Blvd. in Boulevard Oaks been snapped up yet?

Location: 1930 South Blvd., Boulevard Oaks
Details: 5 bedrooms, 6 full and 4 half-baths; 7,863 sq. ft. on a 10,140-sq.-ft. lot
Price: $2,450,000
History: Original home on property torn down in fall of 2007. Listed for $2.6 million during construction; price cut $150K last Halloween.

Our nominator writes in:

I’ve walked through this home. It’s a vacuous monument to the “price per square foot” itch that’s infected so many builders trying to make a buck in fancier neighborhoods. If you can get $300 a square foot for a 3,000 square foot house, why not build a 6,000 square foot house and double the take? And think of the bonus you could get for 7,863!

So the design becomes a ridiculous exercise in racking up square footage for no useful reason. Most of the experience of this house consists of walking down long, built-to-impress but useless hallways. The master bedroom is big enough to skate in.

This place only looks like a great deal on paper. I hope studying this home will make realtors and builders and buyers and appraisers think twice about applying mindless per-square foot pricing formulas.
Because this is what you end up with.

So . . . how should you price it?

CONTINUE READING THIS STORY

05/14/09 10:31am

Swamplot readers have a few things to say about Greenwood King’s latest fancy-neighborhood market report, which came out yesterday! Our regular GK watcher notes that the separate breakdowns for new construction and existing home sales introduced in last month’s edition have been abandoned. Still:

The news is relatively bad. Sales volumes are down sharply all over town. 17% more high end listings than last year . . . River Oaks, Tanglewood, Boulevard Oaks, and Memorial Close In are all over 12 months of inventory. . . .

The 17% higher inventory is reflective of a market of motivated sellers. By definition, a high end homeowner should not “have to” sell unless there has been a life change (divorce, death, job interruption). Everyone knows the housing market is weak in 2009, so…. the only class of sellers on the market are those having cash flow problems or those who have to sell due to a life change. There are almost no trade up sellers right now.

Memorial has 19.1 months of inventory

. . . as big $3-5 million white elephants sit there waiting for the landscapers to come and cut the lawn for the week. It takes a good $20,000 a month to live in one of those monsters. I guess the supply of willing millionaires just isn’t going to match the number of mega mansions. It will take some time, but they will soon move onto bank balance sheets and then to the auction block.

CONTINUE READING THIS STORY

03/27/09 1:18pm

Plans for the Ashby Highrise were rejected by the city for the 9th time last week. But . . . this rejection appears to be a bit kinder than the others have been.

How much kinder? The West U Examiner‘s Michael Reed explains:

. . . the tone of the city engineer’s remarks seemed less perfunctory than in the project’s recent permit denials.

In his comments dated March 16, Mark Loethen said “conflicts in drawings sets have been addressed and revised” since the previous rejection Feb. 13.

Saying the city is still concerned about the distance between a proposed entrance on Bissonnet Street and the Dunlavy Street intersection and the volume of left-turns during peak traffic hours, Loethen offered a potential solution.

“Increasing distance between (the) entrance driveway and Dunlavy along with other mitigation measures may be considered,” his comments read.

That sure makes it sound like a building permit for the 23-story highrise — which developer Buckhead Investment Partners still insists on calling 1717 Bissonnet isn’t that far away from actual city approval. Can’t these tiny remaining details just be worked out in a friendly little get-together?

CONTINUE READING THIS STORY

02/27/09 6:10pm

The Chronicle’s Mike Snyder comments on the the Ashby Highrise’s latest failing grade:

Since March of last year, [Matthew] Morgan and [Kevin] Kirton have submitted various versions of their permit application eight times, and the city has rejected it eight times.

Since one definitition of insanity is taking the same action repeatedly and expecting a different result, some observers have speculated that the developers were building a record for a lawsuit. The language in their timeline shows they’re prepared to take this step, whether or not it’s been part of their strategy all along.

The developers are portraying this case as an example of heavy-handed and inequitable city regulation that all developers should worry about. How much support they’ll get from their industry colleagues if they choose to go to court remains to be seen.

But Jennifer Dawson, writing in the Houston Business Journal, notes that Buckhead Investment Partners has been fiddling with those plans they keep submitting:

CONTINUE READING THIS STORY

10/10/08 11:33pm

The northerly stretches of Boulevard Oaks, where the call of the Southwest Freeway is clear and constant! Four lovely homes await your visit:

1336 Vassar St., Vassar Place, Boulevard Oaks, Houston

Location: 1336 Vassar St.
Details: 3 bedrooms, 2 baths; 2,398 sq. ft.
Price: $749,000
The Scoop: Recently remodeled 1935 bungalow in Vassar Place, with arched doorways, plantation shutters, mustard and seagrass interiors. Kitchen has built-in desk, Breakfast Nook, arched faux-finish vent hood. Ceiling-mounted sound system in both bathrooms. On the market for 3 months already.
Open House: Sunday, 2-4 pm

More this way:

CONTINUE READING THIS STORY

10/08/08 12:11pm

ASHBY HIGHRISE: STRIKE SEVEN! “The developers of the Ashby high-rise sent their plans back to the city of Houston just days before Hurricane Ike hit, and not long after the Public Works Department resumed operations, Buckhead Investment Partners were rejected for a seventh time. Records show the plans were filed again Sept. 11, seven days after being returned. They were denied a remaining permit again Sept. 29. In his comments, city engineer Mark Loethen said plans for a driveway permit contained no revisions and there was ‘no current justification’ for restriping plans on Bissonnet Boulevard at Ashby Drive.” [West University Examiner; previously]

09/12/08 10:00am

ASHBY HIGHRISE: STUCK ON THE DOCK That last city permit is proving difficult for developers of the Ashby Highrise, as the city denied the variance request for a loading dock last week: “In comments for the Public Works and Engineering Department, city engineer Mark Loethen said the at-grade loading dock from Bissonnet Street will not be allowed because its use would obstruct lanes of traffic. In his Sept. 4 comments, Loethen said the variance was rejected for the same reason, citing Sec. 40-86 of the code of ordinances. ‘Such a driveway, as proposed, would excessively interfere with the normal use of the Bissonnet Street right of way,’ he said.” [West University Examiner; previously]

09/03/08 12:49pm

ASHBY HIGHRISE: DOWN TO A LOADING DOCK? Buckhead Investments has resubmitted plans for the proposed Ashby Highrise for the single permit standing in the way of construction. “[Developer Matthew] Morgan said the developers have asked for a variance concerning the design’s loading dock, adding that ‘plenty of examples’ of similar configurations ‘can be found on thoroughfares and collector streets’ in the area. One example he cited is the new high-end, 236-unit apartment complex called Fairmont Museum District at 4310 Dunlavy St. ‘It seems to have loading docks that you can’t pull through,’ Morgan said. ‘Dunlavy is a collector street. We don’t feel like the same criteria was used.’ [West University Examiner; previously]

07/02/08 11:38am

ASHBY HIGHRISE: ONE PERMIT AWAY FROM APPROVAL “Having cleared six of seven departmental reviews, dating back July 30, the project only lacks clearance from Public Works and Engineering’s traffic section.” Developer Matthew Morgan says Buckhead Investment Partners will address four outstanding traffic concerns and resubmit the project for approval soon. [West University Examiner; previously]

06/27/08 1:54pm

Wabi Sabi House, 2316 Bartlett St., Houston

The Wabi Sabi House in Boulevard Oaks has sold, reports developer Carol Barden. And she says the buyer found his new home . . . by reading Swamplot.

The buyer apparently came across the Wabi Sabi while reading stories on this site about another Barden property: yes, that lonely Modern townhome on Stanford St. in Montrose designed by Francois de Menil that Barden was still trying to unload. Swamplot’s last report noticed that once-a-million dollar townhouse being offered for $749,000. Barden tells us that the Menil townhouse is now under contract. She won’t reveal any pricing details, but says that she “didn’t discount the price again.”

Photo of Wabi Sabi House: Olson Sundberg Kundig Allen

04/24/08 11:57pm

Neighborhood Guessing Game 4: Media Room

Some pretty sharp photo-detective work — and plenty of good guesses — in this week’s Neighborhood Guessing Game. But . . . no winner. This was a tough one!

This week’s guesses were rather variously described . . . and one-of-a-kind: “near the Medical Center off McGregor;” 77024; Oak Ridge North; Northampton in Spring; Briar Forest; Memorial/Dairy Ashford area; River Oaks; Avalon Square; Yorkshire; Frostwood; West Memorial between Beltway 8 and Eldridge; Briar Forest; Bunker Hill; one of the Memorial Villages; Southgate-Rice Village area; Southmore/Riverside; Braeswood Place; Ayrshire; Braes Heights; Braes Manor; Braes Oaks; Braes Terrace; Emerald Forest; Southern Oaks; Conroe; Afton Oaks.

That’s quite a tour of the Houston area!

The closest guess came from karen, who failed to tease out the memory of a similar property she once looked at “on Lexington, between Greenbriar and Kirby.” Think of a more upscale version of that house — where would that be?

How about . . . on North or South Blvd.? The exact neighborhood of this week’s home was Edgemont. But a guess of West Edgemont . . . or Broadacres . . . or Boulevard Oaks would have won it. Southampton might even have been good enough.

Possibly, some of you were thrown off by the order of the photos. If the first photo had been of the Living Room, followed by the Dining Room . . . and the paneled and partially sunken Media Room had not been shown until later, would the apparent pattern of remodeling and addition have been more obvious?

A few key clues were unearthed in the comments. An honorable mention goes to last week’s winner, HoustonAreaGuy, who was first to identify the critical bathroom-door handle clue, and who made no mistakes in his description:

It’s a large house, easily 4000+ square feet. I could go with 60’s construction as well, except one small detail stands out to me…and it might not mean anything. The hardware on the bathroom door in the last photo appears to be OLD. Not sure if it’s original to the house or something bought at an antique emporium. It really throws me because if the house is as old as the hardware indicates, then it likely isn’t in my first-guess area zip code 77024.

After the jump: the big reveal!

CONTINUE READING THIS STORY

03/18/08 9:11am

Bissonnet St. Elevation of Proposed Ashby Highrise, 1717 Bissonnet, Southampton, Houston

Today comes news that the developers of the Ashby Highrise won’t wait any longer to strike a deal with the city — and are proceeding with permit applications for their original 23-story apartment and condo tower next to Southampton. Writing in the Chronicle, Mike Snyder reports that Buckhead Investment Partners had submitted a proposal for a slightly smaller tower to the city three weeks ago but had received no response.

The proposed smaller 22-story tower, which didn’t get much support from neighborhood groups, would have featured a narrower tower with 130 condo units and four detached townhouses along Ashby, two floors of underground parking and two more above grade, plus a small park on one corner. Buckhead principals Matthew Morgan and Kevin Kirton told Snyder the reduced number of units would “eliminate any possibility the project would cause unacceptable traffic congestion.”

A document outlining the proposal, however, shows the offer is contingent on significant financial concessions by the city: An immediate refund of about $500,000 for new sewer lines the developers installed to serve the project, along with a payment to the developers of up to $2.15 million, over as long as 10 years, from revenue generated by increased tax values on the site.

Meanwhile, Buckhead’s fancy new website now features a far more complete collection of presentation drawings of what appears to be the original 23-story tower. There doesn’t seem to be any mention on the site of the 22-story all-condo tower proposal.

After the jump, lots of tower drawings from the new website — including . . . kids hugging puppies!

CONTINUE READING THIS STORY

02/18/08 5:05pm

Townhouses at Ashby, 1717 Bissonnet, Ashby Highrise, Houston

How do you reduce development in . . . uh, sensitive Houston neighborhoods — without imposing new regulations?

It can be done! A free market provides its own land-use controls.

Matthew Morgan and Kevin Kirton of Buckhead Investment Partners, developers of the proposed 23-story residential highrise at the corner of Ashby and Bissonnet, show how it can work:

In the Feb. 5 meeting, Morgan and Kirton offered to reduce the size of their building to 19 stories or to build a six-story project while accepting a $2.65 million payment to recoup their investment.

Street-level view of proposed Ashby Townhomes, 1717 Bissonnet: Buckhead Investment Partners

11/07/07 12:23pm

Slow-motion news flash: City Council has just voted to put off a vote on the mayor’s whipped-up-in-a-jiffy highrise traffic ordinance for 90 days. The ordinance would have required traffic-impact studies for projects “very much like” the proposed Ashby Highrise, and allowed the director of public works to force building-size reductions as a result.

Guess those signs will be staying up through the holidays.

10/29/07 12:30pm

Greenbriar Chateau Apartments, 4100 Greenbriar St., HoustonFirst, they came for Maryland Manor. And then: the Greenbriar Chateau apartments? Just what is happening to the great Mansard apartments of Houston? And what will be next on the chopping block: that birthing place of Bushitude, Chateau Dijon?

No 23-story tower has been proposed for the Greenbriar Chateau site—yet. But think of the stylistic possibilities: a Tuscan shopping center . . . or taller, vaguely turn-of-the-century New York-ish apartments. Sure, it’s more than three-and-a-half acres at the northern edge of Boulevard Oaks, but really, it’s those mansards that have to go.

A local investment group has obtained a $10-million loan to buy the 145-unit Greenbriar Chateau in the near southwest submarket. Given the location, it could end up as a conversion into a higher-density project.

Bammelbelt LP bought the complex, built nearly 40 years ago at 4100 Greenbriar St., a prime infill location within minutes of Rice University, Hermann Park and the Texas Medical Center. Sources familiar with the area say rising land costs for infill sites could prompt similar deals by investors buying aging properties as land plays.

Swamplot readers: is this your home? When you get that little slip in your mailbox, let us know.