Upper Kirby

Condos for Sale
05/18/10 12:36pm

Ken Lay’s Lonely Castle in the Sky Floats Down Almost 20 Percent

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Crime, Interiors, Price Reductions, Upper Kirby
9 Comments

“How much further will it fall?” Swamplot asked back in January, not long after the list price for Ken and Linda Lay’s 33rd-floor penthouse in the Huntingdon on Kirby Dr. was marked down the last time. And now we have a partial answer: All the way to $10.25 million — for now, at least. That’s almost a 14 percent cut from the last price, but just under 20 percent off the initial $12.8 million ya-gotta-try pricing Linda Lay started with.

And really, you want to be coming down in regular increments. What numbers come next?

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Ferndale
05/12/10 1:59pm

Hangin’ with the Large and Lonely Homes of Bammel Lane Park

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Homes for Sale, New Construction: Residential, Price Reductions, Upper Kirby
14 Comments

A couple of readers have expressed — how best to put this? — concern for the financial well-being of the developers behind the Bammel Park Homes featured on Swamplot early last year. Writes one recent visitor to the complex:

The development was originally intended to have 12 homes. There are only three complete and it doesn’t look as if any more will be built. . . . The front gate is rusted, the driveways haven’t been paved, the fountain is clogged, there isn’t any landscaping and loose wires are hanging here and there.

Didn’t Black Diamond Development claim the park-like setting would in fact be “enchanted”? Meanwhile, the asking prices for the hefty properties at 3204, 3244, and 3248 Bammel Ln. have been cut in three hacks each from $2.239 million to $1.798 million. Just look at all the bricks that includes:

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Development Stategies
04/22/10 1:31pm

These Are the People in Le Voisinage: The Mark of Stanfordian Man on Upper Kirby

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Houston History, Upper Kirby
2 Comments

Always on the lookout for striking images, art blogger Robert Boyd discovers an intriguing pattern in the map included in the listing of the nearby Fabulous Flea property discussed a couple of days ago on Swamplot. He asks:

Do you think the property lines of of those houses were deliberately designed to look like a man? (Sort of like the Vitruvian Man, don’t you think?)

Boyd dubs the pattern — found on the lower portion of the Upper Kirby blocks surrounded by Elbert, Bammel, and Sackett — “Elbert Street Man.”

But there’s a more direct reference. The anatomical property lines are the mark in Houston’s real-estate landscape of a much more well-known figure:

Allen R. Stanford.

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Home Decor
04/20/10 12:17pm

The Fabulous Flea on the Market

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Homes for Sale, Houston Architects, Interiors, Openings and Closings, Retail, Upper Kirby
14 Comments

Today, tomorrow, and Thursday are the final days for The Fabulous Flea: After this sale, shop owner Mary Daly and her husband hope to sell the little Bammel Lane antique store — along with their cozy 4,018-sq.-ft. house next door. The compound, designed by Kurt Aichler, also includes a pool, an open-air poolhouse, and a small collection of courtyards on a 15,000-sq.-ft. lot.

The whole 4-6 bedroom, 3-1/2-bath package is priced at $1,995,000. But you might be able to find a few pieces of furniture for a little less than that at the shop’s final sale this week:

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Comments
04/09/10 12:04pm

Comment of the Day: Chin Up, Weingarten!

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Commercial Real Estate, Demolitions, Development Strategies, Historic Preservation, Leasing, Quicklink, Redevelopment, River Oaks, Shopping Centers, Strip Centers, Upper Kirby
18 Comments

COMMENT OF THE DAY: CHIN UP, WEINGARTEN! “I don’t totally understand Weingarten’s defensiveness here. After all, they totally earned the wrath of people in the community who would like to see older, architecturally significant buildings preserved in some fashion when they tore down the north side of the shopping center at Shepherd and Gray. They made a calculation then that peoples’ upset feelings would not outweigh the financial benefit. Given this, why do they care what people think now? Did the negative publicity before actually hurt them in any material way? (I’ve made a point of not shopping at the new B&N even though I am a compulsive book-buyer, but I have no illusions that me and people like me have any impact on their bottom line.)” [RWB, commenting on Weingarten Exec Blames Those Alabama Theater Demolition Drawings on Staples]

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Commercial Real Estate
04/09/10 10:52am

Weingarten Exec Blames Those Alabama Theater Demolition Drawings on Staples

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Demolitions, Historic Preservation, Leasing, Retail, Shopping Centers, Strip Centers, Upper Kirby
16 Comments

Today’s Houston Business Journal features a rather surprising statement from a Weingarten Realty executive about the company’s recent plans for the vacant Alabama Theater. Late last month you’ll remember, Swamplot broke the story that a local construction company was obtaining bids from subcontractors for an extensive interior demolition of the vacant 1939 Art Deco movie theater at 2922 South Shepherd Dr. — using drawings prepared for Weingarten Realty by a local architecture firm.

Since that time, representatives of Weingarten, a publicly traded REIT, have been pushing back on the story to local reporters with a series of carefully worded statements. One such statement, delivered to both Swamplot and its readers the same day the story broke, by a spokesperson under contract to Weingarten, was typical: Weingarten, Swamplot was told, “can’t verify the authenticity of the drawings you posted on your blog one way or the other.”

Aw, shucks. And yet — if this statement in today’s HBJ is to be believed — it appears they certainly could have verified them:

Patti Bender, executive vice president with Weingarten, says the preliminary design that recently hit the streets was part of a site pricing analysis conducted by Staples.

Oh . . . does that mean Weingarten had no part in producing those drawings that showed exactly how the theater was to be gutted and its sloping floor encased in concrete? It was all Staples’s doing? Of course, those of you who have been following the story here on Swamplot realize there are just a couple problems with that statement:

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Commercial Real Estate
04/07/10 9:53am

Staples to Weingarten Realty: Don’t Gut the Alabama Theater for Us, Thanks

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Demolitions, Historic Preservation, Leasing, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
11 Comments

In a letter published in today’s Chronicle, the PR director for Staples goes beyond her previous “we do not have a lease” statement and says the national office-supply chain is done with the idea of putting one of its stores in the vacant former Alabama Theater on South Shepherd at West Alabama — for now, at least:

. . . we are not currently considering a store at this site. We typically don’t comment about sites unless and until leases are signed, but we understand that this property represents a unique situation of local concern.

So what prompted theater owner Weingarten Realty to have a local architecture firm draw up plans for a complete interior scraping of the 1939 Art Deco theater — and arrange for at least one local construction firm solicit demolition bids based on it?

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Comments
04/02/10 2:30pm

Comment of the Day: Staples “Not Involved” in the Alabama Theater

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Commercial Real Estate, Historic Preservation, Leasing, Quicklink, Shopping Centers, Strip Centers, Upper Kirby
1 Comment

COMMENT OF THE DAY: STAPLES “NOT INVOLVED” IN THE ALABAMA THEATER “After writing to Staples PR this is their canned response: ‘While there has been speculation about Staples in connection with the historic Alabama Theater, we do not have a lease agreement at this location. Staples will continue to be a good neighbor that supports the communities where its customers and associates live and work as the company continues expanding in the Houston region. The rumors, however, have sparked a larger debate about the location. Therefore, we recommend that concerned citizens direct their letters and suggestions to Weingarten Realty as we are not involved in this development. Many thanks, Amy Shanler, PR Director'” [Andrea, commenting on Weingarten Realty: We Won’t Demolish the Interior of the Alabama Theater Until a Lease Is Signed]

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Commercial Real Estate
03/31/10 4:19pm

Alamo Drafthouse to Weingarten: Why Gut the Alabama Theater When We Can Just Chop It in Half?

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Demolitions, Historic Preservation, Leasing, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
16 Comments

The new owners of the Alamo Drafthouse Cinema franchises in Katy and at the West Oaks Mall tell the Chronicle‘s Nancy Sarnoff they’ve begun new talks with Weingarten Realty about turning the former Alabama Theater into the first Inside-the-Loop location for the dinner-drinks-and-movie chain.

Triple Tap Ventures partner Neil Michaelsen tells Sarnoff his group had held discussions with Weingarten about the former Alabama Bookstop location at 2922 South Shepherd more than 6 months ago — but “couldn’t come to an agreement” about leasing the space. Triple Tap announced its purchase of the two Houston Alamo Drafthouse locations — and plans to construct new cinema locations in Amarillo, Corpus Christi, Lubbock, the Midland-Odessa area, San Marcos, and Houston — just last October.

Sarnoff explains that the Alabama Theater building isn’t exactly Triple Tap’s ideal location:

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Adaptive Reuse
03/26/10 2:03pm

Comment of the Day: What Makes the Alabama Theater So Easy To Lease

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Comments, Commercial Real Estate, Demolitions, Historic Preservation, Leasing, Quicklink, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
8 Comments

COMMENT OF THE DAY: WHAT MAKES THE ALABAMA THEATER SO EASY TO LEASE “Sigh. I’ve been told in the past that Weingarten would like to have a restaurant in this location, but with a rent that is probably in the low-mid 30’s/sf, that puts the monthly rent at around $35,000 a month, which is out of the price range of many retailers and restaurateurs. Also, 14,000 sf would be a huge restaurant. One of the other little discussed obstacles in this building is the balcony, and the low headroom that it provides at the lobby entrance. Most of the building is concrete but I’ve been told that the balcony is in fact a steel structure. I would not be surprised if the balcony does not survive. Regarding the sloped floor, it is extremely difficult to rent sloping space like that in the age of ADA. Bookstop was constructed prior (1984) to the implementation of ADA. . . .” [mt, commenting on Weingarten Realty: We Won’t Demolish the Interior of the Alabama Theater Until a Lease Is Signed]

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Commercial Real Estate
03/25/10 4:34pm

Weingarten Realty: We Won’t Demolish the Interior of the Alabama Theater Until a Lease Is Signed

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Demolitions, Historic Preservation, Houston Architects, Leasing, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
10 Comments

What’s the latest on those plans to demolish the interior of the Alabama Theater at West Alabama and Shepherd — you know, the plans already put out to bid to subcontractors but that owner Weingarten Realty can’t quite seem to verify are its own?

A spokesperson under contract to Weingarten tells Swamplot that the company won’t act on them before a lease agreement with a new tenant is signed:

I now have the okay to post based on your last blog entry to reassure your readers that WRI has no intention undertaking any pre-buildout of the interior prior to any lease agreement. And, there is no agreement currently and no buildout plan.

“Buildout,” of course, is the correct term for the interior demolition here. Because the demolition plans out to bid show that Weingarten intends to permanently encase the theater’s extensive sloped floor in concrete, like this:

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Comments
03/25/10 3:00pm

Comment of the Day: We Are All Weingarten Leasing Agents Now

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Commercial Real Estate, Financing, Historic Preservation, Leasing, Quicklink, Real Estate Investing, Retail, Shopping Centers, Strip Centers, Upper Kirby
1 Comment

COMMENT OF THE DAY: WE ARE ALL WEINGARTEN LEASING AGENTS NOW “. . . I’m not [against] historic preservation, but I find [it] silly and immature for people to attack Weingarten. If anybody could approach them with an idea or a plan to keep the theatre and turn it into a money making investment for any kind of use, I’m sure they’ll listen. If Weingarten could get a tenant without any changes to the space, wouldn’t you think they’ll go for that[?] They save a lot of money in that situation. They most likely looked into the gutting of the place since there isn’t much option for them. Saving a place purely on moral grounds that it is the right thing to do isn’t enough. It’s a place to start, but it’s a lot more that has to happen after that. In the end, a philanthropist or investor or a group of a combination of the two is needed. This group can either buy it out or develop a plan that Weingarten could get their rent and the place be saved. . . .” [kjb434, commenting on Weingarten Plans an Alabama Theater Demolition. Is Staples Moving In?]

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Apartments
03/25/10 2:15pm

Live! Nude! Somewhere on the Roof!

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Attractions, Leasing, Real Estate Marketing, Upper Kirby
10 Comments

Is it sweeps week already? Or did the La Maison at River Oaks just step up its marketing game? 11 News reporter Courtney Zubowski corrals the KHOU newschopper to provide some “over the top” coverage of that clothing-optional sundeck on the roof of the French Quarter-themed apartment complex at 2727 Revere St., south of Westheimer. Alas, no one is taking advantage of the facility when she shows up, and judging from the aerial shots used in the report, neither camera operator nor editor seem to know exactly where the thing is.

A Swamplot reader throws out some more theories:

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Commercial Real Estate
03/24/10 3:56pm

Chasing Down Weingarten’s Mysterious “Alternatives” to Demolishing the Alabama Theater

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Historic Preservation, Houston Architects, Leasing, Openings and Closings, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
13 Comments

Last night, a spokesperson under contract to Weingarten Realty writing on behalf of the company reported to Swamplot and its readers that the shopping-center owner “can’t verify the authenticity of the drawings” we reported on yesterday.

The drawings referred to are bid documents that Heights Venture Architects prepared for Weingarten detailing an extensive interior demolition of the 70-year-old Art Deco Alabama Theater at South Shepherd and West Alabama — more commonly known until its closing last September as the Alabama Bookstop bookstore.

Well, gee. Today, “an official” of Weingarten’s architecture firm isn’t having such a hard time with the verification process:

An official at Heights Venture Architects told CultureMap this morning that the company did submit plans detailing a near total interior demolition of the Alabama at the specific request of Weingarten (the company that owns the vacant building).

The official at Heights asked not to be named and said he had no speaking authority, but confirmed that the company had been asked to submit the plans, which Swamplot first published.

What a fun game! Now that this round is over, let’s jump to the next one: Okay, so maybe Weingarten did ask its architects to prepare demolition drawings. Maybe Weingarten is exploring all its options! Just pricing a complete demo for . . . say, comparison.

Here’s the same Weingarten spokesperson feeding this ruse:

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Commercial Real Estate
03/23/10 3:16pm

Weingarten’s Alabama Theater Plan: Speculative Demolition for Fun and Profit

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Historic Preservation, Houston Architects, Leasing, Openings and Closings, Renovations, Retail, Shopping Centers, Strip Centers, Upper Kirby
18 Comments

Weingarten Realty’s director of investor relations Kristin Gandy tells the Chronicle‘s Nancy Sarnoff that the owners of the vacant Alabama Theater building in the Alabama Shepherd Shopping Center at the corner of South Shepherd and West Alabama do not have a deal for the space with any new tenant, including Staples. Swamplot reported earlier this morning that a local construction firm is soliciting bids from subcontractors for an extensive interior demolition of the 1939 Art Deco theater, which from the early eighties until late last year was the home of the Alabama Bookstop bookstore. Drawings detailing the demolition were prepared for Weingarten by Heights Venture Architects, and the bid documents included floor plans for a prototype Staples office-supply store.

Gandy tells Sarnoff

Weingarten has not signed a lease nor has any lease under (letter of intent) with any particular tenant at this time. We have several tenants that are reviewing, but we don’t have a definitive agreement in place.

Weingarten may not have an agreement in place, but the publicly traded company certainly has demolition plans in place, already labeled as issued for permitting. Which means either

  • Weingarten is conducting extensive pricing research for a number of options for the space in a rather peculiar manner (the ready-for-permit bid documents do not ask bidders to price any alternative to demolition); or
  • (far more likely) Weingarten is gambling that demolishing the interior of Alabama Theater will help it to attract a very particular type of tenant to the unique Inner Loop property.

How much does Weingarten want to demo?

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