The rumor Swamplot reported late last week has now been confirmed from multiple sources: The 34-story Turnberry Tower luxury condo palace planned for the Galleria area — yeah, the one with the tombstone-shaped silhouette — is officially dead.
- Turnberry Tower: Turning Away? [Swamplot]
- Nine and a Half Bathrooms: The Turnberry Tower Penthouse Evacuation Plan [Swamplot]
- The Turnberry: More Wiping, in More Places, than at Any Other Condo Tower [Swamplot]
- Tune In to the Turnberry Tower [Swamplot]
Rendering of Turnberry Tower Galleria: Robert M. Swedroe Architects and Planners
Can’t say that anyone didn’t expect this. With the credit market as tight as it is it’s hard to get financing for large projects. Also, the fact that this tower attracted an extremely small market.
Just down the road, the Cosmopolitan had a broader market with several units at cheaper prices. On top of that, the 2727 Kirby project already snapped much of Turnberry’s market with their high end appeal.
But it was such a lovely rendition of a washing machine.
Replace that block with a mixed use with a grocery store! That will give people a real reason not to drive anymore.
Who will shop there? The majority will still have to use there car. It will be extremely inconvenient to the typical grocery shopper. There are also several large grocery stores that are close. Two Rice Epicureans, a future Whole Foods, a Central Market, and a large Kroger. HEB has one not far at Fountainview. and Randal on San Felipe.
Also, the only financially feasible development will have to be some form of high-rise whether it’s condos, apartments, or office. The land is simply too expensive for anything else.