Apartments

Apartments
10/21/08 11:22am

Putting Off the Ritz: Boulevard Place Towers Stalled

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Financing, Galleria, Hotels, Mixed Use, Proposed Developments, Redevelopment
1 Comment

Aerial View of BLVD Place, Showing Proposed Ritz Carlton and Hanover Apartment Towers

Remember the two 30-plus-story towers planned for Boulevard Place on Post Oak — the Ritz Carlton Hotel and the Hanover apartment tower? How have they been surviving the rumbling credit crunch?

A HAIF user last week

got slight confirmation that both the hanover tower and the ritz are going to be delayed at least slightly… they still expected both to happen, but they will be phased in.

Then yesterday came another comment:

i can confirm this in regards to hanover.

dont expect their tower to be built anytime soon.. i would consider it postponed indefinitely rather than slightly.

Followed by this:

As a sub on this project I will also confirm this. We have been told at least 6 months of delays.

But they still look great on paperscreen!

CONTINUE READING THIS STORY

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Apartments
10/08/08 12:11pm

Ashby Highrise: Strike Seven!

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Boulevard Oaks, Condos, Development Regulations, Highrises, Neighborhood Disputes, Proposed Developments, Quicklink, Southampton
8 Comments

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]

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Apartments
10/03/08 3:07pm

JPI: Nothing Doing

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Bellaire, Commercial Real Estate, Openings and Closings
1 Comment

Pool, Jefferson Estates at Bellaire Apartments, Houston

More real-estate-firm troubles you haven’t read about in the newspaper: JPI, a multifamily developer based in Irving, Texas, earlier this week shut down or canceled all new development and construction projects — and laid off development, design, and construction teams. Existing projects already underway will be “completed and wrapped up by a small team that will remain behind until they are complete,” according to a company email provided to Swamplot. The email blamed “the ongoing credit crisis” and “the inability to obtain credit at any price” for the closings.

JPI did not appear to have any projects planned for Houston, but JPI Living does operate Jefferson Estates at Bellaire, an apartment complex at 4807 Pin Oak Park, just inside the Loop between Bissonnet and the Southwest Freeway.

Photo of Jefferson Estates at Bellaire: JPI Living

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Apartments
10/01/08 10:25am

More Photos of the Messiest Apartment in Houston

by
Hazards, Home Decor, Renting
20 Comments

Bedroom of Extremely Messy Apartment in North Houston

Swamplot’s story last week on that extremely dirty apartment in North Houston left out a few photos the photographer originally posted in the Houston-Imports forum. Our photo editing choices were meant to highlight the more “artistic” qualities of the display. And really, how much filth do you need to see?

More than we showed, apparently. The story was one of the most popular ever posted on this site. Who are we to prevent smut-hungry readers from viewing the trash they so obviously want to see?

So here they are, fresh from the . . . uh, cutting-room floor: 11 more photos of the messiest apartment in Houston. Ever. We hope.

A word of warning to the easily nauseated: Yes, there are a few images of the bathroom. No, it is not pretty.

CONTINUE READING THIS STORY

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Apartments
09/12/08 10:00am

Ashby Highrise: Stuck on the Dock

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Boulevard Oaks, Condos, Highrises, Neighborhood Disputes, Proposed Developments, Quicklink, Southampton
1 Comment

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]

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Apartments
09/08/08 9:49am

The Michael B. Smuck Apartment Flips Begin

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Buying and Selling, Foreclosures, Glencairn, Quicklink, Real Estate Investing
3 Comments

THE MICHAEL B. SMUCK APARTMENT FLIPS BEGIN Triumph Land & Capital Management, the company that bought two other former Smucked apartment complexes, has already flipped a third: “‘The seller had bought the loan on Village at Loch Katrine, then foreclosed on it, then sold the property,’ says Russell D. Jones, vice president of Apartment Realty Advisors in Houston. He says Andrew Chong had signed the purchase agreement before Triumph Land & Capital foreclosed on the loan. Although Jones kept mum about the price, area sources believe the Village at Loch Katrine, situated at 16545 Loch Katrine Lane, sold for $6.5 million to $7 million.” [Globe St.; previously]

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Apartments
09/03/08 12:49pm

Ashby Highrise: Down to a Loading Dock?

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Boulevard Oaks, Condos, Development Restrictions, Highrises, Neighborhood Disputes, Proposed Developments, Quicklink, Southampton
5 Comments

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]

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Apartments
08/27/08 9:32am

The Lodge at Baybrook: Smuck Survivor

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Buying and Selling, Friendswood, Real Estate Investing
7 Comments

The Lodge at Baybrook, 19100 Glenwest Dr., Friendswood, Texas

Another apartment complex rescued from the clutches of famed real-estate investor and apartment-maintenance whiz Michael B. Smuck! This time it’s the Lodge at Baybrook, a 12-building, 322-unit compound on 13.7 acres just behind Baybrook Mall in Friendswood. Globe St.‘s Amy Wolff Sorter reports that Chicago-based Adams LaSalle Realty has bought the complex from Smuck’s bankrupt MBS Properties for “well below” the $28.6 million it first listed for back in 2006.

The Lodge at Baybrook was built just 9 years ago, but apparently there’s plenty of deferred maintenance for the new owners to take care of. No word of any impending name change.

Photo: CBRE

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Apartments
08/25/08 7:47am

Washington Ave.: Extending The Core?

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Demolitions, New Construction: Residential, Proposed Developments, Washington Corridor, West End
18 Comments

The Core Apartments, 3990 Washington Ave., Houston

A West End resident writes in with a question about plans for the former Trinity Steel plant off Koehler St. between Yale and Bonner:

They have recently begun demolishing the huge industrial warehouses that made up the Trinity Industries complex. Our Civic Club President seems to think they are building an extension of the The Core apartment complex that just went up at 3990 Washington Avenue (www.thecoreapts.com). That would be a disaster since the Trinity Industry property parcel is HUGE and if they are going to be ALL apartments, our narrow neighborhood streets will be clogged constantly with all that extra traffic.

I can’t find anything about who developed The Core to see if they have any updates on their website about future extension plans. Do you have any leads on what is going on and going up there?

The Core Apartments were developed by the Morgan Group. Any Swamplot readers have the scoop on future plans for the site?

Bonus question after the jump:

CONTINUE READING THIS STORY

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Apartments
08/12/08 10:05am

Candlewood Glen: Reno or Demo?

by
Condos, Hazards, Inwood Forest, Quicklink
No Comments

CANDLEWOOD GLEN: RENO OR DEMO? Near Northwest residents ask City Council for help with the squalid Candlewood Glen and Candlelight Trails complexes. “A sign posted at the entrance to the complex would suggest there were plans to reopen the buildings under a new name. They would be called Palm Terrace, and phase one was scheduled for construction during the summer of 2008. But it’s now August, and there is no sign of construction.” [11 News, previously in Swamplot]

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Apartments
08/11/08 9:55am

Mosaic Rumor: Second Tower Going Rental?

by
Condos, Financing, Hermann Park, New Construction: Residential
13 Comments

Aerial Photo of Second Mosaic Tower Under Construction, June 20, 2008, Hermann Park, Houston

A reader asks:

Has anyone else heard the rumor that Mosaic Hermann Park’s South Tower (already under construction) is going all rental once complete?

It would be kinda cute if the second condo tower did end up switching to apartments, since the first tower went in the opposite direction:

[Phillips Development managing director Donald] Phillips says the company financed the first Mosaic tower as a rental property because that was the only way to secure funding.

“We did whatever we had to do to get the thing built,” he says.

Photo: Aerial photo of Mosaic from June: Aero Photo

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Apartments
07/31/08 10:06am

Inspectors Will Visit Many More Multifamily Apartment Complexes

by
Hazards, Quicklink, Renting
8 Comments

INSPECTORS WILL VISIT MANY MORE MULTIFAMILY APARTMENT COMPLEXES Hundreds of multifamily apartments in Houston lack certificates of occupancy or compliance — documents which indicate the facility complies with the city’s basic building and safety standards. “The city wants all properties to submit to an occupancy inspection and obtain a certificate, while also correcting any immediate structural, electrical or other problems inspectors identify. Those that do not respond to the city’s efforts to get a certificate or make repairs could face closure, [Mayor] White said.” [Houston Chronicle]

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Antoine Forest
07/30/08 2:25pm

City Shuts Down Gables of Inwood; Park Memorial Condos Next?

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Apartments, Condos, Hazards, Openings and Closings, Public Health, Rice Military, West End
12 Comments

Gables of Inwood Apartments, 5600 Holly View Dr., Houston

City officials posted signs at the Gables of Inwood Apartments near Antoine Forest yesterday notifying residents that they need to vacate the property by Monday. The owner of the 165-unit complex, Collins Ofoegbu of El Sobrante, California, has received notices of more than 240 violations from city inspectors since purchasing the property in 2006.

Some received the news from orange “notice to vacate” signs affixed to their doors. The signs also warned residents that power would be disconnected Monday.

“I need, like, two or three months,” said an agitated Jolanda Hernandez, who waved a recent rent receipt while complaining in Spanish. “I need time so I can move out of here.”

Matt Stiles’s report in the Chronicle indicates there are also problems at a closer-in property with a much larger group of owners: the Park Memorial Condominiums near the corner of Memorial and Detering. Stiles says city inspectors planned to post notices at the condominiums at 5292 Memorial warning residents that the parking garage is unsafe and “may experience catastrophic failure at any time.”

After the jump: More highlights from reporter Matt Stiles’s personal collection of dangerous-apartment photos!

CONTINUE READING THIS STORY

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Apartments
07/24/08 1:29pm

Help for the Huntwick

by
Buying and Selling, FM 1960, Foreclosures, Neighborhood Disputes, Real Estate Investing, Renovations
4 Comments

Huntwick Apartments, 5100 FM 1960 Rd., Houston

A Dallas real-estate firm is ready to rescue the Huntwick Apartments on FM 1960 near Wunderlich Rd. from receivership — and also from its management, before that, by Louisiana real-estate investor Michael B. Smuck.

As of last year, just as it prepared to file for bankruptcy, Smuck’s Louisiana-based MBS Companies owned 65 apartment buildings in Texas — 33 of them in the Houston area. Even prior to that, the company’s property-maintenance skills had reached legendary status. The president and executive vice president of the Houston Apartment Association relayed complaints from residents and neighbors of MBS apartments to the Wall Street Journal last year, and reported that the griping had only increased after the influx of residents fleeing Hurricane Katrina in late 2005.

Here’s a commenter on the Houston Politics blog back in April (quoted in Swamplot), describing the scene at the 288-unit Huntwick:

Balconies have collapsed, lots of overgrown vegetation, the paint is peeling, there is obviously a total lack of maintenance. A large tree split in half on their property adjacent to Coral Gables Dr., and after the dead half lay on the ground (in plain view) for over 6 months, a crew finally cut it into smaller pieces, which then lay in the same spot for another 6 months.

After the jump: What’s happening to the Huntwick, plus the complete Michael B. Smuck Houston apartment roster!

CONTINUE READING THIS STORY

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