It looks like the 10.53 acres behind this sign where the Spring Branch RoomStore stands have been fosoldale, and the buyer has said it plans to build some rental townhomes. Broker David Littwitz says that the RoomStore here at 1009 Brittmoore Rd. facing the Katy Fwy. closed about a year ago, after the Richmond, Virginia, company filed for bankruptcy near the end of 2011. Real Estate Bisnow’s Catie Dixon reports that the buyer, a joint venture called Houston Texas Properties, intends to tear down the showroom to develop what they’re dubbing Arabella, desribed by Dixon as a “240-unit, upscale rental townhome community.” And they’re not wasting time: Dixon adds that the RoomStore should be coming down within the next few weeks.
- Energy Corridor Land Sells [Real Estate Bisnow]
Photo: Real Estate Bisnow
If you don’t mind living on the north side of I-10 in that area this could be a good deal. There’s already an apartment complex going up on the north side at Wilcrest and I-10. I wonder if the SBISD Elementary school (Sherwood) will see an increase in enrollment with these two rental developments.
Class A rental apartment complexes don’t usually have many school-aged kids living there. The demographic that can afford to rent in such properties tends to have a household income and family-formation habits that mean they’re ready to purchase a home in a good school district by the time that this is an issue.
The rental townhomes might see some families who are relos with school-aged kids that want to rent and scope out neighborhoods before they buy.
One more stake in the heart of once lovely Spring Branch.
The current housing “boom” and density trends will produce lots of cheap, knockoff units advertised as “upscale”, both for sale and rentals, likely on the edges of trendy areas, which could eventually evolve into new dumpy areas. Not sure about this one but 240 units next to a freeway is a good start.
Having grown up in that area, I can tell you that the Room Store site was never really one of the “lovelier” parts of Spring Branch…which really more or less petered out between Gessner and where West Belt is now. Instead, it was previously where Igloo’s plant was located.