If H-E-B can figure out a way to keep this sort of thing going even after the new store is built, that Fiesta won’t have a chance: “The Montrose Land Defense Coalition will hold a rally this weekend at Menil Park to raise awareness of H-E-B’s plans to build a new store on the site of the long-gone Wilshire Village apartment complex. The group will walk from the park to the property at the southwest corner of West Alabama and Dunlavy on Saturday around 1:30 p.m.
Last week, H-E-B confirmed that it’s under contract to buy the nearly eight-acre site across from a strip center anchored by a Fiesta.
Resident Maria-Elisa Heg recently formed the Montrose Land Defense Coalition to call attention to the property and attract investors who might be interested in buying it with the city of Houston for use as a public space.” [Prime Property; previously on Swamplot]







Comment of the Day: Sweet Ass Wilshire Village Park
“Some quick math… 7.68 acres = 334,541 SF. Amegy loan = $10,742,000 = 32.11 PSF. Wedge loan = $3,000,000 = 8.97 PSF. Total loans = $41.08 PSF. It seems to me that the dirt should be worth a lot more than $41 PSF. . . . Amegy doesn’t appear to have a lot of risk of loss in the deal. . . . It’s clear they’ve decided to force the owners hand rather than sit back and let the owners try to sell for max $$$, which ain’t easy in this market. A BK by the owner will only delay the process for so long. Amegy obviously wants their cash back. Even without a foreclosure, it seems that this parcel is going to trade hands soon. Somebody needs to round up some cash real quick and buy this prime piece of dirt and turn it [into a] sweet ass park.” [Bernard, commenting on Surprise! Wilshire Village Facing Foreclosure]