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.
“This part of Spring Branch has seen the median listing price go up from ~$150k to ~$250k over the past two years. Listings all over SB get multiple cash offers on the first day; a $400k listing will get bid up well into half-mil territory by week’s end. If this ball keeps rolling, we could start to see the first teardowns north of Long Point before the end of the year. Decision, decisions . . . best to buy now, or sit tight and wait for the pop?” [
The proud new owners of the 300,000-sq.-ft. Spring Branch Medical Center say they plan to flip the 18-acre property on Long Point Rd. into a residential and retail development. Investor Bruce Phillips tells the Houston Chronicle that the 
