Need a place to crash somewhere in Houston for a short visit — say, a week — but don’t want to stay in a hotel?
Phillips Development & Realty, developers of the Mosaic and freshly rebranded Montage towers across Almeda from Hermann Park, is handling rentals of Mosaic condos owned by investors — as well as rentals of the many units the developer has been unable to unload. Now a source passes on a new rumor to Swamplot: Some of those available rentals may be extremely short-term.
Not a bad idea for a property that’s close to the Med Center! With that rumor, though, come a couple more:
Phillips’s Corporate Leasing Director will be taking over management of the Mosaic’s homeowners association from the company that had been running it since the building opened last year. But Phillips’s new tenure at the HOA may be a short-term one too. Why?
Because Florida Capital Real Estate Partners, the Mosaic’s lender, might just be foreclosing on Phillips’s property soon — both the Mosaic and an apartment complex in Tampa called the Casa Bella. Swamplot’s source also suggests that Camelot Realty Group — the company that’s clearly been very busy handling the Mosaic’s many condo sales — may already have had discussions with Florida Capital about taking over onsite rental duties from Phillips once the foreclosure takes place.
- Mosaic Splits in Two [Swamplot]
- Mosaic Rumor: Second Tower Going Rental? [Swamplot]
- Casa Bella on Westshore [Phillips Development & Realty]
Photo of Mosaic and Montage: Swamplot inbox