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	<title>Comments on: Wilshire Village Update: &#8220;A Nice&#160;Mess&#8221;</title>
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	<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/</link>
	<description>Houston, Texas real estate development, home buying, landscape, and design</description>
	<pubDate>Sat, 20 Mar 2010 11:49:15 +0000</pubDate>
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		<title>By: anonymous</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-27264</link>
		<dc:creator>anonymous</dc:creator>
		<pubDate>Thu, 07 May 2009 00:44:24 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-27264</guid>
		<description>Hellsing and RWB are making practical sense.  Even if the place is renovated, (which it could be for less than demolishing and building a new complex), RENTAL PRICES COULD NOT BE WHAT THEY WERE.  I'm all for preservation, but unless the elderly folks on fixed income are going to procure additional and recurring government supplements, they won't get a revitalized place for $300/month.  Best scenario, it is preserved and completely renovated to 
(1) Preserve the original design
(2) Remove harmful materials (e.g. asbestos)
(3) Make the property profitable

I can guarantee that short of some exceptional philanthropy...renovated or replaced, the rent is going to be alot higher.</description>
		<content:encoded><![CDATA[<p>Hellsing and RWB are making practical sense.  Even if the place is renovated, (which it could be for less than demolishing and building a new complex), RENTAL PRICES COULD NOT BE WHAT THEY WERE.  I&#8217;m all for preservation, but unless the elderly folks on fixed income are going to procure additional and recurring government supplements, they won&#8217;t get a revitalized place for $300/month.  Best scenario, it is preserved and completely renovated to<br />
(1) Preserve the original design<br />
(2) Remove harmful materials (e.g. asbestos)<br />
(3) Make the property profitable</p>
<p>I can guarantee that short of some exceptional philanthropy&#8230;renovated or replaced, the rent is going to be alot higher.</p>
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		<title>By: d</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19648</link>
		<dc:creator>d</dc:creator>
		<pubDate>Thu, 12 Feb 2009 22:36:33 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19648</guid>
		<description>some of those people have lived there for  more than 30 years.  and they're not getting a clear answer from either mr. cohen or the 'mystery owner' of what, if anything, they need to do.  my take was mr. cohen's family paid off about 1.5 million in taxes to save the place from county auction back around 2005.  so if that's the case, i can imagine that they indeed are the real 'owners' of wilshire village, not mr. cohen.</description>
		<content:encoded><![CDATA[<p>some of those people have lived there for  more than 30 years.  and they&#8217;re not getting a clear answer from either mr. cohen or the &#8216;mystery owner&#8217; of what, if anything, they need to do.  my take was mr. cohen&#8217;s family paid off about 1.5 million in taxes to save the place from county auction back around 2005.  so if that&#8217;s the case, i can imagine that they indeed are the real &#8216;owners&#8217; of wilshire village, not mr. cohen.</p>
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		<title>By: EMME</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19540</link>
		<dc:creator>EMME</dc:creator>
		<pubDate>Wed, 11 Feb 2009 22:58:43 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19540</guid>
		<description>"They paved Paradise to put up a parking lot"</description>
		<content:encoded><![CDATA[<p>&#8220;They paved Paradise to put up a parking lot&#8221;</p>
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		<title>By: Jim</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19537</link>
		<dc:creator>Jim</dc:creator>
		<pubDate>Wed, 11 Feb 2009 22:27:21 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19537</guid>
		<description>kjb, you do make some valid points, but I think the idea of "the government is going to come in and take all your property rights away" is greatly exaggerated. I may be wrong; I've never lived in a protected district in NOLA or Natchitoches, so I'll leave comment on that to people who have.

In my opinion — and it's just that — the setup we have in Houston leans too far the other way. As has been pointed out, neighborhoods have say over what happens in their boundaries. True theoretically, but there are cases where people in the neighborhood have ended up having very little (or no) control. In Westmoreland, yes, there are active civic and historical associations, but they were powerless a couple of years ago when one of the residents tore down an original house to expand his lawn. As far as the Heights, where there's still no protection: I wouldn't presume to say that the overwhelming feeling in the neighborhood is pro-preservation, but I do know that people working to have a city historic district declared have had a heck of a time fighting developers who want to tear the old Heights down and replace it with cookie-cutter "Victorians."

As far as the virtue of the Planning Commission, I'm not sure that holds water. It is a good idea in theory, but Commission members are just as tied to developers as City Council is — that's just the way of the world in Houston, and probably always will be.

Anyway, without rambling on, I think this kind of discussion — whether it ends up having any effect on Wilshire Village or not — is the kind of thing we should be having all over the city. Houston is just starting to come to grips with quality of life on a large scale, I think, and the decisions made now will have a huge effect on the city's future.</description>
		<content:encoded><![CDATA[<p>kjb, you do make some valid points, but I think the idea of &#8220;the government is going to come in and take all your property rights away&#8221; is greatly exaggerated. I may be wrong; I&#8217;ve never lived in a protected district in NOLA or Natchitoches, so I&#8217;ll leave comment on that to people who have.</p>
<p>In my opinion — and it&#8217;s just that — the setup we have in Houston leans too far the other way. As has been pointed out, neighborhoods have say over what happens in their boundaries. True theoretically, but there are cases where people in the neighborhood have ended up having very little (or no) control. In Westmoreland, yes, there are active civic and historical associations, but they were powerless a couple of years ago when one of the residents tore down an original house to expand his lawn. As far as the Heights, where there&#8217;s still no protection: I wouldn&#8217;t presume to say that the overwhelming feeling in the neighborhood is pro-preservation, but I do know that people working to have a city historic district declared have had a heck of a time fighting developers who want to tear the old Heights down and replace it with cookie-cutter &#8220;Victorians.&#8221;</p>
<p>As far as the virtue of the Planning Commission, I&#8217;m not sure that holds water. It is a good idea in theory, but Commission members are just as tied to developers as City Council is — that&#8217;s just the way of the world in Houston, and probably always will be.</p>
<p>Anyway, without rambling on, I think this kind of discussion — whether it ends up having any effect on Wilshire Village or not — is the kind of thing we should be having all over the city. Houston is just starting to come to grips with quality of life on a large scale, I think, and the decisions made now will have a huge effect on the city&#8217;s future.</p>
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		<title>By: kjb434</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19525</link>
		<dc:creator>kjb434</dc:creator>
		<pubDate>Wed, 11 Feb 2009 21:11:43 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19525</guid>
		<description>If these apartments were in New Orleans, they would have been government housing and not support to save it for historic purposes would have existing.

Also to your point of no zoning in Houston, there are many places in the Houston region (some close in and some farther away) that have zoning.  The close in example is of West University.  Of course that hasn't stopped flood of McMansions and some can argue it caused them to get build.

And as for regulation, we have lots of them.  Some may say too many.  Without zoning, our planning commission and city ordinances have to get pretty detailed.  Some urbanist complains they are too detail and heave because it makes it a little harder for urban development to happen.  Work on this front is on going to change this, but for now variances are used and work well.

Our set up in Houston actually give neighborhoods more power to control what's in their boundaries.  That's why it works so well.  On top of that, the shear size in land area of the city limits alone make zoning very difficult to write.  They would actually have to carve to city in to sections and have zoning rules for each one.  Of course there would be arguments at the boundaries.

Our system also (despite the howls of some) actually makes corruption less likely.  There isn't a board to pay off to get what you want.  The Planning Commission is a varied group that has to excuse themselves if they have a business or personal relationship to any developer that comes through the commission.  Zoning boards often are wine and dined by developers and they don't have to excuse themselves when voting on projects occur.

Zoning would have probably let the Ashby Highrise get built.  Zoning wouldn't have changed the landscape of Houston and most certainly added to sprawl since low density inner neighborhoods would have fought any changes in density when the zoning board votes to change it.

In the end, it very common misconception that in Houston developers run wild and there is little regulation.  That is simply not true.  Our regulations are less cumbersome, but they are still heavy and have killed many projects across the city.</description>
		<content:encoded><![CDATA[<p>If these apartments were in New Orleans, they would have been government housing and not support to save it for historic purposes would have existing.</p>
<p>Also to your point of no zoning in Houston, there are many places in the Houston region (some close in and some farther away) that have zoning.  The close in example is of West University.  Of course that hasn&#8217;t stopped flood of McMansions and some can argue it caused them to get build.</p>
<p>And as for regulation, we have lots of them.  Some may say too many.  Without zoning, our planning commission and city ordinances have to get pretty detailed.  Some urbanist complains they are too detail and heave because it makes it a little harder for urban development to happen.  Work on this front is on going to change this, but for now variances are used and work well.</p>
<p>Our set up in Houston actually give neighborhoods more power to control what&#8217;s in their boundaries.  That&#8217;s why it works so well.  On top of that, the shear size in land area of the city limits alone make zoning very difficult to write.  They would actually have to carve to city in to sections and have zoning rules for each one.  Of course there would be arguments at the boundaries.</p>
<p>Our system also (despite the howls of some) actually makes corruption less likely.  There isn&#8217;t a board to pay off to get what you want.  The Planning Commission is a varied group that has to excuse themselves if they have a business or personal relationship to any developer that comes through the commission.  Zoning boards often are wine and dined by developers and they don&#8217;t have to excuse themselves when voting on projects occur.</p>
<p>Zoning would have probably let the Ashby Highrise get built.  Zoning wouldn&#8217;t have changed the landscape of Houston and most certainly added to sprawl since low density inner neighborhoods would have fought any changes in density when the zoning board votes to change it.</p>
<p>In the end, it very common misconception that in Houston developers run wild and there is little regulation.  That is simply not true.  Our regulations are less cumbersome, but they are still heavy and have killed many projects across the city.</p>
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		<title>By: DMc</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19519</link>
		<dc:creator>DMc</dc:creator>
		<pubDate>Wed, 11 Feb 2009 20:53:12 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19519</guid>
		<description>kjb434: And if you don’t like a “McMansion” being built right next to you, go a neighborhood that doesn’t allow this sort of development.

Lack of zoning ITL is one of main reasons I rent here. Here's what I don't get. No one likes someone else defining how they can use their own property. That is what zoning and historic boards do. But it's the same problem without them. If I like gardening for example. Then someone builds McMansions on 3-sides of my back yard blocking the sun. The use of my property has been diminished. Philosophically, its the exact same result -- someone else defining what can be done with my property. 

kjb434: It’s obvious my example of Natchitoches and New Orleans is for the structures within the historic districts. And it is absurd, but it’s true.

No, you picked extreme examples to try prove your point. At least, that's the way it came across. Very few (any?) historic boards and preservationists have the teeth that the boards in Natchitoches or New Orleans have. No one has ever proposed that type of regulation in Houston. No one on this thread has. 

Preservation efforts do not have to be as extreme as the examples you chosen to have a large effect on the character of a neighborhood. Houston is an absurd example of zero regulation.  Both extremes have inheirant problems. Why must Houston be such an extreme? 

One could argue that there's nothing left to preserve! Because of that, Houstonian preservationists tend to grasp at some pretty marginal buildings. If these apartments were in NOLA, they wouldn't be considered significant. There are so many better examples 'historic' structures remaining. But in Houston, it's all we've got!</description>
		<content:encoded><![CDATA[<p>kjb434: And if you don’t like a “McMansion” being built right next to you, go a neighborhood that doesn’t allow this sort of development.</p>
<p>Lack of zoning ITL is one of main reasons I rent here. Here&#8217;s what I don&#8217;t get. No one likes someone else defining how they can use their own property. That is what zoning and historic boards do. But it&#8217;s the same problem without them. If I like gardening for example. Then someone builds McMansions on 3-sides of my back yard blocking the sun. The use of my property has been diminished. Philosophically, its the exact same result &#8212; someone else defining what can be done with my property. </p>
<p>kjb434: It’s obvious my example of Natchitoches and New Orleans is for the structures within the historic districts. And it is absurd, but it’s true.</p>
<p>No, you picked extreme examples to try prove your point. At least, that&#8217;s the way it came across. Very few (any?) historic boards and preservationists have the teeth that the boards in Natchitoches or New Orleans have. No one has ever proposed that type of regulation in Houston. No one on this thread has. </p>
<p>Preservation efforts do not have to be as extreme as the examples you chosen to have a large effect on the character of a neighborhood. Houston is an absurd example of zero regulation.  Both extremes have inheirant problems. Why must Houston be such an extreme? </p>
<p>One could argue that there&#8217;s nothing left to preserve! Because of that, Houstonian preservationists tend to grasp at some pretty marginal buildings. If these apartments were in NOLA, they wouldn&#8217;t be considered significant. There are so many better examples &#8216;historic&#8217; structures remaining. But in Houston, it&#8217;s all we&#8217;ve got!</p>
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		<title>By: RWB</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19516</link>
		<dc:creator>RWB</dc:creator>
		<pubDate>Wed, 11 Feb 2009 20:37:57 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19516</guid>
		<description>Hellsing--that's the kind of creative thinking I was talking about. I know there are people in Houston real estate who could do this--unfortunately, it doesn't look like the current owner of Wilshire Village is one of them.</description>
		<content:encoded><![CDATA[<p>Hellsing&#8211;that&#8217;s the kind of creative thinking I was talking about. I know there are people in Houston real estate who could do this&#8211;unfortunately, it doesn&#8217;t look like the current owner of Wilshire Village is one of them.</p>
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		<title>By: EMME</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19510</link>
		<dc:creator>EMME</dc:creator>
		<pubDate>Wed, 11 Feb 2009 20:09:19 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19510</guid>
		<description>kjb, 

I don't think you can get deed restrictions for an entire neighborhood anymore.  You have to go block by block to get minimum lot size and/or setback restrictions.  It is a lot of work and you do get to know your neighbors and no, I have not done it myself.  I got real lucky in that four houses all in a row each sold to rehabbers.  Had they all gone on the market at the same time, I would be living next to townhouses.  One would sell, and the next one went on the market, all the way down to the corner.  PHEW!  Dodged a bullet there.  Next time I may not be so lucky.</description>
		<content:encoded><![CDATA[<p>kjb, </p>
<p>I don&#8217;t think you can get deed restrictions for an entire neighborhood anymore.  You have to go block by block to get minimum lot size and/or setback restrictions.  It is a lot of work and you do get to know your neighbors and no, I have not done it myself.  I got real lucky in that four houses all in a row each sold to rehabbers.  Had they all gone on the market at the same time, I would be living next to townhouses.  One would sell, and the next one went on the market, all the way down to the corner.  PHEW!  Dodged a bullet there.  Next time I may not be so lucky.</p>
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		<title>By: EMME</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19508</link>
		<dc:creator>EMME</dc:creator>
		<pubDate>Wed, 11 Feb 2009 20:03:53 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19508</guid>
		<description>The only good thing about the tanking economy is that more people may have to consider rehabbing old buildings over tearing down and rebuilding or at least put it off.</description>
		<content:encoded><![CDATA[<p>The only good thing about the tanking economy is that more people may have to consider rehabbing old buildings over tearing down and rebuilding or at least put it off.</p>
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		<title>By: kjb434</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19507</link>
		<dc:creator>kjb434</dc:creator>
		<pubDate>Wed, 11 Feb 2009 20:02:01 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19507</guid>
		<description>DMc,

And if you don't like a "McMansion" being built right next to you, go a neighborhood that doesn't allow this sort of development.

It's that simple.

It's obvious my example of Natchitoches and New Orleans is for the structures within the historic districts.  And it is absurd, but it's true.

In the end, this neighborhood this apartment complex is in doesn't care much for it or hasn't been alerted to the situation.  If the surrounding neighborhood wanted to protect it through historic preservation or some sort of targeted deed restriction, they should get moving on it.  I'm sure the posters on this blog in such passionate support to save this complex will start notifying neighbors around the complex of the situation so they they can get support to save it.

I'm not against historic preservation or historic districts.  I may have my issues with them, but I'm not against them.

Also, I completely understand Natchitoches and New Orleans use of the the historic preservation for tourism reason.  I have lots of friends in both cities and understand the charm of historic districts.</description>
		<content:encoded><![CDATA[<p>DMc,</p>
<p>And if you don&#8217;t like a &#8220;McMansion&#8221; being built right next to you, go a neighborhood that doesn&#8217;t allow this sort of development.</p>
<p>It&#8217;s that simple.</p>
<p>It&#8217;s obvious my example of Natchitoches and New Orleans is for the structures within the historic districts.  And it is absurd, but it&#8217;s true.</p>
<p>In the end, this neighborhood this apartment complex is in doesn&#8217;t care much for it or hasn&#8217;t been alerted to the situation.  If the surrounding neighborhood wanted to protect it through historic preservation or some sort of targeted deed restriction, they should get moving on it.  I&#8217;m sure the posters on this blog in such passionate support to save this complex will start notifying neighbors around the complex of the situation so they they can get support to save it.</p>
<p>I&#8217;m not against historic preservation or historic districts.  I may have my issues with them, but I&#8217;m not against them.</p>
<p>Also, I completely understand Natchitoches and New Orleans use of the the historic preservation for tourism reason.  I have lots of friends in both cities and understand the charm of historic districts.</p>
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		<title>By: DMc</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19502</link>
		<dc:creator>DMc</dc:creator>
		<pubDate>Wed, 11 Feb 2009 19:50:00 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19502</guid>
		<description>kjb434: In every city where historic preservation reigns king, there is a board that takes all your property rights away and tells you how to redevelop your property....

That simply isn't true. Granted a powerful board can take away some rights to your property. Just as having NO rules can lead to you losing certain use of your property too when someone builds a 4-story McMansion 6-inches from your windows. Got Sunshine?

kjb434: Just try to even repaint your house in the historic areas of the two cities I mentioned (with the same paint color for that matter) without letting the commission know about it....

That is simply an absurd exaggeration. I'm a native! If you knew anything about Natchitoches, you'd know that the historic board influeces only certain, well delineated, parts of that city. You'd also know that tourism due to the historic character is the lifeblood of that city. How many visitors would come to Natchitoches if there were strip malls on Front street, and townhomes crammed in replacing the B&#38;Bs? In other words, looked like Houston. Ever wonder why Houston has such a hard time attracting conventions and tourism?

It's really simple. If you don't want to deal with hassles of a historic preservation board... don't buy a historic structure! Simple. You can damn sure buy non-historic property in Natchitoches and never dealing with any "draconian" historic boards.</description>
		<content:encoded><![CDATA[<p>kjb434: In every city where historic preservation reigns king, there is a board that takes all your property rights away and tells you how to redevelop your property&#8230;.</p>
<p>That simply isn&#8217;t true. Granted a powerful board can take away some rights to your property. Just as having NO rules can lead to you losing certain use of your property too when someone builds a 4-story McMansion 6-inches from your windows. Got Sunshine?</p>
<p>kjb434: Just try to even repaint your house in the historic areas of the two cities I mentioned (with the same paint color for that matter) without letting the commission know about it&#8230;.</p>
<p>That is simply an absurd exaggeration. I&#8217;m a native! If you knew anything about Natchitoches, you&#8217;d know that the historic board influeces only certain, well delineated, parts of that city. You&#8217;d also know that tourism due to the historic character is the lifeblood of that city. How many visitors would come to Natchitoches if there were strip malls on Front street, and townhomes crammed in replacing the B&amp;Bs? In other words, looked like Houston. Ever wonder why Houston has such a hard time attracting conventions and tourism?</p>
<p>It&#8217;s really simple. If you don&#8217;t want to deal with hassles of a historic preservation board&#8230; don&#8217;t buy a historic structure! Simple. You can damn sure buy non-historic property in Natchitoches and never dealing with any &#8220;draconian&#8221; historic boards.</p>
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		<title>By: Hellsing</title>
		<link>http://swamplot.com/wilshire-village-update-a-nice-mess/2009-02-10/#comment-19498</link>
		<dc:creator>Hellsing</dc:creator>
		<pubDate>Wed, 11 Feb 2009 19:28:40 +0000</pubDate>
		<guid isPermaLink="false">http://swamplot.com/?p=6313#comment-19498</guid>
		<description>"With all the previous examples given of projects that utilized old buildings and renovated them for modern use, why isn’t there a campaign of the “compassion” sort to find a developer that will buy this place and save it? I mean, ranting on this site may provide some of you with comfort, but it achieves absolutely nothing."

I can't answer for anyone else, but I've crunched numbers in anticipation of putting forth the idea to some preservation-minded clients (I work for a very high-dollar insurance broker).  

Pretending every unit is inhabitable, even leasing out every unit at an increased rent of $400 a month only nets $691K a year (numbers rounded for expediency). Taxes last year were $254K.  Let's place bare bones insurance at $15K a year and maintenance for each unit at $100 a month.  Profit is approximately $249K.  However, that's a perfect scenario, which doesn't exist here.  Unless it becomes a non-profit investment, it would have to evolve with updated units going for market value. I'm afraid Wilshire Village's days as a refuge for those who can't afford much more are coming to an end.


Am I saying "don't try to save it"?  Hell no! What have I done?  Well, as far as the residents, I sent an e-mail to Houston Housing Authority and will follow up with a phone call in a couple of days to see if a representative could possibly go there to assist the elderly and lower income folk who can't hop in the car and drive over to Fountain View to fill out an application for housing. Since the property wasn't condemned by the city, they won't send anyone over there to assist.   


Given the traffic problems and current economy, can a high-rise be financed?  That will be interesting. Many of the top dollar and luxury condos/apartments have been pied-a-terre dwellings for out of town or international businessmen and/or their local mistresses.  Considering the dump the global economy has taken lately, I can personally attest to many such aeries going on the market in Houston.  Will tearing down Wilshire Village to build yet another residential high-rise be a good investment, especially with so many other projects already built and homes/townhouses going for a song?  Can the developer weather the market for the approximately three-five years it is being estimated will take for the economy to recover or will this property go the route of Sonoma and Turnberry Tower?  We'll see.  


Now, were I King of the Forest, I would:

Move all current tenants into the best one or two buildings.

Let them know changes were coming, advise what the new rent would most likely be, and give them 90 days to find something else.

Begin restoration on the other buildings, one at a time.

Shamelessly take advantage of every historical preservation publicity opportunity/tax break/fund raiser that came down the pipes.


Yes, it's an ancient apartment complex.  Yes, it's only from the 40's.  It's an excellent example of what we Houstonians have to look to preserving as an example of our history. Sure, we used to have older places that were much more glamorous like the Metropolitan &#38; Majestic theaters and an endless list of other private and commercial structures, but some bunch of dingleberries TORE THEM DOWN!!!!!


Powerball drawings comin' up, folks!</description>
		<content:encoded><![CDATA[<p>&#8220;With all the previous examples given of projects that utilized old buildings and renovated them for modern use, why isn’t there a campaign of the “compassion” sort to find a developer that will buy this place and save it? I mean, ranting on this site may provide some of you with comfort, but it achieves absolutely nothing.&#8221;</p>
<p>I can&#8217;t answer for anyone else, but I&#8217;ve crunched numbers in anticipation of putting forth the idea to some preservation-minded clients (I work for a very high-dollar insurance broker).  </p>
<p>Pretending every unit is inhabitable, even leasing out every unit at an increased rent of $400 a month only nets $691K a year (numbers rounded for expediency). Taxes last year were $254K.  Let&#8217;s place bare bones insurance at $15K a year and maintenance for each unit at $100 a month.  Profit is approximately $249K.  However, that&#8217;s a perfect scenario, which doesn&#8217;t exist here.  Unless it becomes a non-profit investment, it would have to evolve with updated units going for market value. I&#8217;m afraid Wilshire Village&#8217;s days as a refuge for those who can&#8217;t afford much more are coming to an end.</p>
<p>Am I saying &#8220;don&#8217;t try to save it&#8221;?  Hell no! What have I done?  Well, as far as the residents, I sent an e-mail to Houston Housing Authority and will follow up with a phone call in a couple of days to see if a representative could possibly go there to assist the elderly and lower income folk who can&#8217;t hop in the car and drive over to Fountain View to fill out an application for housing. Since the property wasn&#8217;t condemned by the city, they won&#8217;t send anyone over there to assist.   </p>
<p>Given the traffic problems and current economy, can a high-rise be financed?  That will be interesting. Many of the top dollar and luxury condos/apartments have been pied-a-terre dwellings for out of town or international businessmen and/or their local mistresses.  Considering the dump the global economy has taken lately, I can personally attest to many such aeries going on the market in Houston.  Will tearing down Wilshire Village to build yet another residential high-rise be a good investment, especially with so many other projects already built and homes/townhouses going for a song?  Can the developer weather the market for the approximately three-five years it is being estimated will take for the economy to recover or will this property go the route of Sonoma and Turnberry Tower?  We&#8217;ll see.  </p>
<p>Now, were I King of the Forest, I would:</p>
<p>Move all current tenants into the best one or two buildings.</p>
<p>Let them know changes were coming, advise what the new rent would most likely be, and give them 90 days to find something else.</p>
<p>Begin restoration on the other buildings, one at a time.</p>
<p>Shamelessly take advantage of every historical preservation publicity opportunity/tax break/fund raiser that came down the pipes.</p>
<p>Yes, it&#8217;s an ancient apartment complex.  Yes, it&#8217;s only from the 40&#8217;s.  It&#8217;s an excellent example of what we Houstonians have to look to preserving as an example of our history. Sure, we used to have older places that were much more glamorous like the Metropolitan &amp; Majestic theaters and an endless list of other private and commercial structures, but some bunch of dingleberries TORE THEM DOWN!!!!!</p>
<p>Powerball drawings comin&#8217; up, folks!</p>
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