The half-empty strip center left over from a series of unfortunate redos of City Hall architect Joseph Finger’s 1937 Tower Community Center (which once served as an art-deco companion piece to the former Tower Theater across the street) is now under contract to a new owner, along with the entire 2.86-acre block at the southwest corner of Westheimer and Montrose. That’s the word from a posting on the property’s listing site noted by Going Up! City, but the listing brokers at HFF aren’t providing any additional information.
Unless someone wants to spill the beans on the purchaser’s identity or any plans for the current home of Half Price Books, Spec’s, Papa John’s, and 3-6-9 China Bistro (along with the standalone Jack-in-the-Box at Montrose and Lovett) before then, you’ll have to wait until the seller issues a press release — which will happen sometime next week, a source tells Swamplot — for additional details. The property went on the market in early March.
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- Offering Overview — Westheimer and Montrose [HFF]
- Previously on Swamplot: Big Block on the Corner of Westheimer and Montrose Goes Up for Sale
Photos: HFF and Houston Metropolitan Research Center, Houston Public Library, via GHPA
20 Comments
This such a good location for a new development.
For all you that get off to mixed used projects, this site is one that is begging for it.
I’m wondering how the homeless and other street folk will adjust to a new higher-end development that will obviously do something to make sure the riff raff don’t bother tenants…
Well, I’m glad, but I’m sad. I’m confident it will be coming down. While I wish it would go back to the wonderful Deco statement it was, I just don’t see it. I’m sure it will become more “affordable luxury” with upscale shops. …so be it.
Gonna be a Walmart.
Most desirable track of land in Montrose? Likely. What an amazing buy.
Fingers crossed. You only get one chance to do this right. Awesome potential.
Maybe the secret press release is that Buckhead Partners bought it and are going to re-locate their Ashby Highrise over to this site (sarcasm alert).
Definitely NOT a WalMart.
A CVS to compete with the Walgreens to compete with the CVS.
PM Realty is the buyer. I’m guessing residential…
Pleeeeeze don’t screw it up!
If PM Realty is the buyer, it’s likely mixed use (retail + office). They’ve done some multi-family housing, but most of what they do is office and mixed use. It will probably be 3+ stories.
PM Realty had better get their plans vetted by the local urban style Nazis or they’ll never hear the end of it.
C’mon Alfa Romeo dealership. They break a lot, so it will be good to have the service center close to home.
Retail ground floor kills pro forma models. That’s why they oly exist in municipalities where the developer is required to leave commercial reserves. The argument that ground floor service and restaurants lead to better occupancy or rents is not the case.
Let’s keep it dirty Htown style and go 5 story public storage.
HEB and Walgreens already pigeoned this site for like users, so the REA and restrictions are nasty. This means no fresh market, no hubble & hudson…
4 level apartment over 2 level parking garage, and life goes on.
Another strip center?
Wouldn’t that suck, lol.
This tract sold for $11.8 million I believe. A very strong price considering they were only looking at offers over 10+ mil.
Wonder where Half-Price will re-locate for the 2nd time in 8-10 years?
1. Unwieldy Apts. – no retail
2. CVS w/bank on the corner
3. Bank w/CVS on the corner
This is great news for the neighborhood! I can’t wait to read all of the complaints on here about how awful it is that they will tear down this urban blight.
Don’t expect a new development to be constructed any time soon. Several of the leases in the project don’t expire until 2018 and 2020. It will be difficult for the new owner to terminate several of these leases early with some of the national credit tenants.
Does anybody know about the vacant Wendy’s a few blocks west of this location? Its across from MacDonalds