Developers have become very interested in Spring Branch, notes a Swamplot tipster. The latest evidence: the recent sale of the Blalock Woods Apartments (pictured above), just north of the Katy-Fwy.-side 99 Ranch Market at 1111 Blalock Rd. The new owner of the townhome-style complex is a group put together by investment and apartment-development firm Stanmore Partners. The property changed hands on October 1st; on the same date, residents of the Spring Branch apartment complex received a brief letter saying Greystar Management Services will be taking over management of all 316 units. The letter didn’t reveal the name of the property’s new owner, and didn’t say anything about shutting down the place, but a source tells Swamplot that no new leases are being written, and that a “departure deadline” of June 2015 is being planned.
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The 16.45-acre site probably sold for about $32 per sq. ft., or just under $23 million, a source tells Swamplot. Houston Texans owner Bob McNair is believed to be one of the investors in the deal.
Photo: Swamplot inbox
city of houston acting very provincial in it’s planning. other small and large cities have prohibited residential and commercial buildings without conveniences on ground level such as restaurant, dry cleaning, bank, etc etc. this cuts down on traffic, creates more neighborhoody feel, and reduces crime. houston should not allow one more darn apartment building without this. wake up planning and annise. this still creates the tax revenues you want so badly, but creates a better city and saves costs of re-doing these 3rd-world streets that keep breaking our rims and axles
Haha leases are still being made and people are still living there xD
2017 and leases are still being written. Even asking for references to get more people to move in.
And ever since Graystar Property management took over the place has gone downhill fast. No parking enforced anymore. Takes weeks and even months to get something fixed. Been trying to rent a garage for 2 weeks and they say they have to walk the grounds to see which ones are vacant and in working order. Called 4 times and was promised a call back by end of day. 2 weeks later and still no call back.