Thursday, April 16, 2009

Wilshire Village Speculation: Demolish, then Flip?

The reader who provided this “tip” wouldn’t or couldn’t tell us where the information came from, so there’s no particular reason to take it seriously. But it raises a few interesting questions about the future of the 8-acre property at W. Alabama and Dunlavy that’s apparently soon to be the former site of the Wilshire Village apartments.

. . . So here it is:

The buzz in the air over the demolition of Wilshire Village is Mr. Dilick plans to try to sell the property soon after the demolition, word is he hasn’t the funding to develop this tract.

Photo: Swamplot inbox

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18 Comments

  1. 1
    From EMME:

    If that’s the case, he should try to sell it for lot value prior to demolition.

  2. 2
    From Angostura:

    He obviously thinks it’s worth more post-demo as opposed to intact. I’d like to think he’s wrong, but I suspect he’s not.
    The photo accompanying this post makes me sad, since it’s unlikely that those beautiful oak trees are going to survive whatever development happens on this property.

  3. 3
    From Hellsing:

    After a bit o’ snooping, word is that he doesn’t want the condition he allowed the property to fall into over seven years of ownership with tenants still residing getting around more than it already has. Judging from Commerce Equities lack of website, despite the assertion from Wild Web Studios that they have created three web designs for them, Mr. Di(li)ck is not completely familiar with the far-reaching power of the internet.

  4. 4
    From markd:

    Hmmm, would that make sense of the re-worked streets that dead end at the property. At some level, a back room deal has already been made.

  5. 5
    From Matt:

    “Hmmm, would that make sense of the re-worked streets that dead end at the property. At some level, a back room deal has already been made.”

    There seems to have been quite a few of these back room deals. Most in a back room at City Hall.

  6. 6
    From Hellsing:

    Update from HAIF - big Komatsu in one of the parking lots as of this morning. Here we go….and unless it was quick & dirty, I guess no one from Houston Historic Salvage got the go-ahead to take any reusable features such as the small fortune in glass bricks. Hmmm….odd considering the change Dilick could have collected for salvagable features X 144 units.

  7. 7
    From EMME:

    I don’t recall, has he pulled a demo permit? May be old news, but I am an old gal.

  8. 8
    From EMME:

    I spoke to Lynn at HIstoric Houston and she has tried over and over again to contact Matt Dilick to no avail. She would love to talk to him. If anybody out there knows how to contact him, call Lynn at Historic Houston 713-522-0542 or post it here and I will call her.

  9. 9
    From EMME:

    By the way, Lynn at Historic Houston said her crew could start immediately.

  10. 10
    From doofus:

    This was my expectation all along. In this market, there is NO WAY someone like Dilick would be able to line up financing. Additionally, in the City of Houston, where vision by developers is about as common as a Republican on the links at HCC, clearing the lot is seen as the next best thing.

  11. 11
    From elle enne:

    Try this, but don’t hold yer breath. If anyone has news about the scheduled demolition, please post. Thanks.

    Cheryl Villarreal
    Property Director
    Commerce Equities Management Co.,Inc.
    Phone:281.922.6700
    Fax:281.922.6701

  12. 12
    From EMME:

    Thanks LN. I will pass it on to Lynn at Historic Houston.

  13. 13
    From Hellsing:

    EMME, please go over to HAIF - an alleged friend of Dilick’s posted this morning under the name “houston-development” expressing doubts about anyone at Houston Salvage making contact attempts. If you or Lynn have an account, perhaps you could PM him and try to get in touch. Since he’s talking about what a great and misunderstood guy Dilick is, perhaps he would be willing to help buddy Matt show the world what a loveable snookums he really is.

    http://www.houstonarchitecture.....0&

  14. 14
    From EMME:

    Hellsing, I do not have an account and I don’t know about Lynn. Perhaps you can post a link to the article Gus ran about Lynn’s attempts to reach him with her quotes.

    “Okay, How About the Wilshire Village Apartments for Salvage? ”

    If anybody else has a HAIF account, can you post this information?

  15. 15
    From EMME:

    http://swamplot.com/okay-how-a.....009-04-16/

  16. 16
    From EMME:

    OK, I am now a member. Can you link me to the spot? I get lost on HAIF.

  17. 17
    From Hellsing:

    This is the main forum:

    http://www.houstonarchitecture.....mp;act=idx

    Scroll down to the third block of categories entitled “Houston Neighborhoods”. Montrose is the third one. If the Wilshire Village apartment thread isn’t the latest post anymore, just click on Montrose and you’ll find it.

    It’s a great forum to read - I just don’t want to keep track of yet another password. ;)

  18. 18
    From EMME:

    Well, I had facebook blocked off of my work PC. Maybe I need a meeting…:)

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