After more than 3 years of negotiations and court battles, the fenced-off 4.85-acre property covered with overgrown and vandalized buildings once known as the Park Memorial condos has at last been sold. Owners of the 108 properties at 5292 Memorial Dr. who were able to hold onto their units after the city declared them unsafe and barred anyone from living there in 2008 (or who snatched them up for low, low prices later) should be receiving their checks soon. The buyer is JLB Properties from Dallas, developers of the Ava apartments on Highmeadow near Hillcroft. The company is reportedly planning a new apartment complex on the Park Memorial site, which sits north of Buffalo Bayou at the corner of Memorial Dr. and Detering.
- Park Memorial coverage [Swamplot]
I wonder if they’re going to set up some kind of program to take care of all of the stray cats.
That will add some traffic to my commute.
Finally! I live next door to this place, and will be glad to see it and all who frequent it, gone. Gee….more apartments, woo freakin hoo. The property is full of beautiful rolling terrain. Hope it’s left intact…
Sooooo … how much did the condo owners get paid? I always felt sorry for the owners and this whole mess made me certain I would never buy a condo. No attached home ownership for me.
There was a condominium project on Clear Lake that had a similar story, it sat vacant for years after damage from Ike, towards the end investors/gamblers were paying sub $10k for units and reading this story makes me wonder about their return/loss.