Comment of the Day: Montrose, Going Vegas

COMMENT OF THE DAY: MONTROSE, GOING VEGAS “. . . It took Montrose it’s whole lifetime to get to ~7000 units. Yes there is strong demand, no one would doubt that . . . which is why you have people building. But they’re building at a frantic pace. So while it took Montrose it’s whole life to ~7000 units, we’re about to DOUBLE that in a few years. So strong demand brings strong supply. I believe turds is saying that the supply is coming so strong that it’ll outpace demand and thus create the need for incentives. Personally I think we’re going to have a Vegas (strip) style disruption in econ 101 where supply tends to CREATE demand. As these units come online, they’ll make the area better, and increase demand to live here. These units won’t be for the people living here. They’ll be for new people coming here. So I think Montrose can take these units on and be just fine (with respects to multifamily operator demand).” [Cody, commenting on What To Make of the Museum Gardens Sale]

18 Comment

  • I couldn’t agree more! Where do you find such brilliant people to comment on this site? :-)

  • sounds nice if you don’t have to drive anywhere.

  • You can take it, Montrose, now bend over!

  • Stephen: Since I live in Montrose I really don’t HAVE to drive anywhere. Everything is here. If not for my Home Depot trips to grab supplies for my guys or trips out of Houston (Fredricksburg, Austin, etc.) I’d have almost no miles on my truck. My wife has a “real job” and still only put about 15k miles on her car after 3 years.
    Not having to dive (much) was a huge reason in deciding to live in (and later investing in) Montrose.

  • Dive? Tee-hee, sorry.

  • Beat you Cody. My car is a 1999 with 40,000 miles on the odometer. Living in Montrose meant I only had to drive a few miles to work and walk to the grocery. Sold the Montrose house and moved to Padre Island 6 months ago.

  • I couldn’t agree more, Cody. I live around the corner and down the street from you. My car is 2.5 years old and I’ve only got 8k miles on it. Also, when you do have to drive, I’ve never noticed traffic being a problem.

  • Driving, what’s that? Oh right, that’s what all the people do who are opposed to financing more trains.

  • Living in Montrose we have great restaurants nearby (from inexpensive and fine dining), Downtown/work is 2-3 miles away, One of the best medical centers in the world is only a couple miles away, Museums all over, we have a choice of numerous bus routes, and never have to drive the Freeways! Where else can I eat in the most expensive French restaurant in town and get a tatoo next door afterwards? Only in Montrose!

  • I avoid Home Depot as much as possible, mostly by going to Southland Hardware on Westheimer….another great Montrose business!

  • anybody want to estimate how many of these new montrose residents will be tied to the energy corridor and the upcoming additional 6MM sq. ft. of office space out west? anybody know of any mass transit options that service the energy corridor from in-town?

    i don’t, but i love it that I-10 is nearly stacked up for 11 miles in both directions these days just years after being completed. so hilarious.

  • Sara, i’m going to start proposing we create an HCTRA like organization to buy and privatize the rail lines so that the rail can help generate funds to build additional rail infrastructure.

    it’s a win-win for everyone, including the montrose folks like me with no mass transit options to work and whom would see no benefit from the rail aside from more intersections, longer wait times and further surface traffic on alternate routes.

  • Joel, only if I can be in charge. My pockets feel a bit empty these days & I’m sure that with such a position, I could find a way to pad them.

  • Joel: I10 is never congested in the Morning going West, and only gets jammed up going East in the evening around the Beltway, as people in the far left lane love to merge at the last second.

    I enjoy a 15-20 minute drive from montrose to the energy corridor. Nobody under 30 in my office wants to live anywhere but inside the loop.

  • there’s still a large variation in start times in the morning so certainly no issues there. however, like you say the evenings aren’t far from getting miserable. any additional cars will just back up further from the 610 interchange and once the traffic backs up to bunker hill (which doesn’t feel far away some nights) it’s going to be backed up all the way to Park 10. what time do you leave in the evening to only hit bad traffic at the beltway?

    and i agree, a lot of the montrose vacancies are going to be filled with hundreds and hundreds of well paid young O&G folks which the oil companies are actively courting right now. i don’t see these apts being filled by downtown workers and empty nesters.

  • I take my bike most places, including buying groceries. Unless it’s raining or I need kitty litter, it’s definitely do-able in the ‘trose.

  • Joel: I try to leave around 4-4:40, I work a 9 hour day so I get up pretty early.

  • Mark: I’m with you on Southland. My guys go there all the time for small stuff. But when we get a new property, I could be at home depot every other day jamming my tuck full of cabinets, plants, ceiling fans, paint, tile, flooring, etc. I need a single place I can go and get a ton of stuff. As much as I love Southland, it doesn’t work for my big stuff.
    It’s GREAT for small stuff though. They really do have “almost everything”