GREENSPOINT APARTMENT TAKEOVER A Houston firm that took over management of 3 foreclosed Greenspoint-area apartment complexes last month says it’s working with the HPD to open a police substation in one of them. Kaplan Management Co. VP Michelle Rhone tells reporter Jennifer Duell Popovec that the complexes — City View Place Apartments, Cambridge at City View, and Springfield at City View — became “a haven for criminals” during the 5 years the properties were owned by New York’s GFI Capital. The substation would be located at City View Place, at 16818 City View Place, east of Greenspoint Mall next to Greens Bayou. “Moreover, the company has created a plan to establish a number of civic programs to serve the City Place assets including a wellness clinic, tutoring from Houston Independent School District, vocational training and YMCA swimming lessons. Additionally, Kaplan will work with CW Capital to address deferred maintenance issues, Rhone says. The lender has already invested $100,000 to address immediate maintenance needs at the properties, she adds.” [Globe St.]
Sign up for the Newsletter
Tag: Apartments
Walmart has not completed its purchase of 15 acres of the former Trinity Industries steel fabrication site on Yale St. just south of I-10 and the Heights, but an executive with the Ainbinder Company, which has owned the property for 3 years, has been quoted as saying it is no longer negotiating with any other potential buyers (H-E-B was one), and that the deal should be complete within a few weeks. A site plan obtained by the Chronicle‘s Nancy Sarnoff shows 2 bank-style pad sites and a park-in-front strip center facing Yale, in front of the 152,000-sq.-ft. Walmart’s 664-car parking lot. Also shown in that plan, as part of the proposed development: a sprawlerrific future for the current site of the Heights Plaza Apartments to the northeast of the site, featuring a strip center along Heights Blvd. and a “bank” site just to the north, at the southern edge of White Oak Bayou. Yet another strip center is shown on the back side of the bank site, facing Yale St. to the west.
Ainbinder has the Heights Plaza Apartments at 205 Heights Blvd. under contract. Speaking at a meeting organized by city council member Ed Gonzalez, Michael Ainbinder said he expects to close on that property this fall and include the land in the retail development, bringing its total land area to 24 acres. Nicgk, who took extensive notes on the meeting and included them in his blog, They Are Building a Wal-Mart on My Street, reports that the developers are claiming that the development will not be “a ‘typical suburban’ project.” Nicgk reports an Ainbinder representative noted the
‘warehouse’ type of architecture; they noted the ‘Core’ apartments, and ‘Berger Iron Works’ on the corner plot of land. They intend to keep that type of neighborhood feel to the development
-It was described as a more modern warehouse/urban type of feel . . . Ainbinder assured that the infrastructure of the land, and surrounding, would be brought up to appropriate specs to support.
Below: a few photos of the site from a larger set and scouting report by another neighborhood blogger, Charles Kuffner.
A reader writes in to let Swamplot readers know the unpublished asking price for the 8-unit apartment building going up on the ashes of The Norman apartments at the corner of West Alabama and Stanford, featured here last month. Pssst: It’s $875,000, all stucco colors shown included. The building is expected to be complete next month. And here’s one of the last pics of its hot hot predecessor, taken during a little incident last August:
COMMENT OF THE DAY: WHERE THERE’S NO SUCH THING AS BAD PUBLICITY “Only in Houston would someone use a blog post about a building’s code violations to advertise FOR the building.” [JCoy, commenting on The Somewhat Public To-Do List Posted at 230 West Alabama]
“Apparently ‘Houston’s newest chic address‘ has some code violations on its hands,” writes the reader who found a well-worn code enforcement tag at 230 West Alabama, the Midtown-ish apartment tower formerly known as Executive House:
I stopped by on Sunday, July 4, to see if the leasing office was open and found this notice on the door. The violation from the City of Houston Code Enforcement Department says: OBTAIN ELECTRICAL PERMIT AND REPAIR UNSAFE ELECTRICAL IMMEDIATELY…OBTAIN PLUMBING PERMIT AND REPAIR UNSAFE PLUMBING IMMEDIATELY…REPAIR UNSAFE STRUCTURAL IMMEDIATELY…SEE REPORT FOR DETAILS…SUBJECT TO CITATIONS DAILY FOR NON-COMPLIANCE. The date in the bottom right hand corner appears to be 04-04-10. I think I’ll keep searching for that apartment elsewhere.
The tag:
PARK PLACE APARTMENT FIBERFEST Workers from Inland Environments will be taking “extra precautions” with the demolition of 4 apartment buildings at the corner of Park Place and Telephone Rd., the mayor’s office promises. There’s plenty of asbestos to go around in the Park Place Apartments at 7410 Park Place Blvd., but the buildings, which have been sitting vacant for 20 years, aren’t considered structurally sound enough for the asbestos to be removed. A bankruptcy filing by the owner last week delayed the city-ordered demolition, but it’s now scheduled to begin at 9 this morning. Update, 2:10 pm: Now there’s video! And the dust is flying. [Mayor’s Office; previously on Swamplot]
COMMENT OF THE DAY: A 3400 MONTROSE BLVD. INSPECTION REPORT “I did due diligence on this building a few years ago for the prior owners (The Ali Brothers). It was in pretty bad shape back then. The chilled water system was byzantine and the egress (especially from the Skybar) was not anywhere near complying with code. The garage needed work and had headroom problems on the ramps. For re-purposing, 3400 Montrose actually laid out well into residential or a hotel. I thought that given the limited parking situtation that they should give the Skybar the boot and convert the building to rental apartments. The structural bay depths and the continuous glazing on each floor laid out nicely, and the garage was almost the perfect size for this. Of course the entire building would have to be gutted in the process to accomplish any major update to the building. I swore I would never go into the Skybar again when I saw how unsafe the egress would be in a fire.” [mt, commenting on Why Scott Gertner’s Skybar Is Leaving the Montrose Sky]
PARK PLACE APARTMENT DEMO PARKS IN BANKRUPTCY COURT “Not so fast on the daily demo report,” cautions a reader. There’s been a last-minute delay: Park Place Apartments owner Rodolfo Yannarella has thwarted city attempts to demolish the complex near Long Dr. and Telephone Rd. by going to court this morning to declare bankruptcy. The 43-unit complex at 7410 Park Place was tagged with a police demolition order in February. A representative of council member James Rodriguez says his office will “continue to work with the Mayor’s Office, Neighborhood Protection, and the Legal Department to move forward to demolish this nuisance in the community as soon as possible.” [Swamplot inbox; previously on Swamplot]
The Norman apartment building at 717 West Alabama at Stanford St. caught fire and burned last August. The 8-unit Montrose building, which the Houston Press saw fit to declare the city’s “Best Apartment” back in 2004, showed up in Swamplot’s Daily Demolition Report just before Christmas. A reader sends in pics of the new multicolored stucco-and-foam construction going up in its place and notes:
It appears that they were quick to rebuild, It looked to me that they used the old piers, and just added the support beams for a (pier & beam foundation). Glad to see that they took advantage of the exsiting foundation.
And look, new foam quoins at the corner, to hold the stucco rainbow together! Are they fireproof?
Blogging machine Charles Kuffner returns to the scene of a Memorial Heights sidewalk he photographed 2 years ago, and finds it’s grown. The Ed Sacks Waste Paper Company building that stood at the non-intersection of Memorial and Studemont has been replaced by the 25-story Legacy at Memorial. That apartment tower opened recently, but the set of sidewalks that wraps around it is still under construction:
MICHAEL B. SMUCK IS GOING TO JAIL Longtime Louisiana and Texas real-estate investor Michael B. Smuck pled guilty this week to one count of mail fraud in connection with the sale of the Briar Meadows Apartments on Dairy Ashford, just north of Briar Forest Dr. An investment company controlled by Smuck purchased the complex in 2004. Smuck sold the property in 2007, according to federal prosecutors, but didn’t tell his investors. Instead, he used the almost $3.5 million in proceeds to pay debts owed by other business entities he controlled: “Smuck continued to send documentation to investors in Briar Meadows in order to give the fictitious appearance that the investment property was still active. Pursuant to the plea agreement entered into by the parties, Smuck faces a term of imprisonment of 30 months and a $250,000.00 fine. In an effort to make the victims of this crime whole, the United States has secured from the defendant an agreement to pay a minimum of $3,299,480 in restitution to investors in both Briar Meadows and Yellowstone Ranch, which are apartment communities in Houston, TX.” [U.S. Attorney’s Office; background; previously on Swamplot]
Renovations are scheduled to begin in the next few weeks on Downtown’s Houston House Apartments at 1617 Fannin, according to a notice distributed to residents yesterday:
These renovations will include, but are not limited to ALL APARTMENT UNIT INTERIORS, plumbing, HVAC system, domestic hot water, sprinkler systems, the lobby, 9th and 10th floors and the building’s exterior. There will be significant additions to our amenities as well.
Here’s the fun part: Everybody gets to relocate!
Just how big is the South Grand at Pecan Grove apartment complex in Richmond? Well, moving from one side of the complex to the other can cost you just south of $8 grand — and maybe a little hospitalization. Tentra Allen’s moving adventure last weekend began after she responded to a little Craigslist ad and signed a little contract with the moving company that showed up:
. . . Before unloading things, Andy said Allen had to pay the bill: $7,684. That included 35 units of shrink wrap for $2,800 and a “long walk†that cost $4,300.
Allen said Andy whipped out the contract, which said all previous verbal agreements were null and void and laid out a menagerie of outrageous charges in the fine print.
“If you don’t pay, we’re taking everything to Maine,†he threatened.
A reader sends us this view from the scene of the YMCA on Louisiana and Pease Downtown. A fire broke out in a resident’s room on the 9th floor of the 67-year-old building early this afternoon after someone left a lit candle unattended, according to news reports. YMCA officials tell Channel 2 News that 16 residents will need to be relocated as a result of the damages.
Of course, all 135 residents of the YMCA will need to be relocated after the new YMCA down the street at 808 Pease St. (at Milam) opens this October. The YMCA plans to demolish the Louisiana St. building, then sell the vacant 85,000-sq.-ft. property to Chevron, which owns the shiny former Enron building next door. The new Tellepsen Family Downtown YMCA now under construction contains no residences.
Late Update: Our correspondent sends in a later photo from the scene:
COMMENT OF THE DAY: WHAT I LEARNED EARLY IN THE HOUSTON REAL ESTATE BIZ “In 1993, I was with a firm that looked at buying many of the run down apartment complexes in Greenspoint. Our intent was to renovate them, thinking that the many class A office buildings contained many potential residents. Greenspoint was an enigma: awful multi-family and beautiful office development. You don’t often see the two side by side like this. When we got into town and started touring the area, we immediately saw the two critical falacies of our plan: 1. we needed to own and renovate all of the multi-family to turn the neighborhood. One holdout property would serve as a sanctuary for all that was bad about Greenspoint. Unfortunately, not every property was available for purchase. 2. Some of the properties, in particular those developed by Fred Rizk, were functionally obsolete. For example, sliding glass doors opening directly into parking lots–no way to easily dress this up. We never spent much time on the deals after that. On a more positive note, my boss at the time corrupted my by taking me to the St. James Club, and since that time I have considered it the best strip club ever.” [LandMan, commenting on Waiting for the Renaissance: What Could $32 Million Buy at Greenspoint Mall?]