Phillips Development at the Mosaic: Short-Term Rentals, Short-Term Stay?

Need a place to crash somewhere in Houston for a short visit — say, a week — but don’t want to stay in a hotel?

Phillips Development & Realty, developers of the Mosaic and freshly rebranded Montage towers across Almeda from Hermann Park, is handling rentals of Mosaic condos owned by investors as well as rentals of the many units the developer has been unable to unload. Now a source passes on a new rumor to Swamplot: Some of those available rentals may be extremely short-term.

Not a bad idea for a property that’s close to the Med Center! With that rumor, though, come a couple more:

Phillips’s Corporate Leasing Director will be taking over management of the Mosaic’s homeowners association from the company that had been running it since the building opened last year. But Phillips’s new tenure at the HOA may be a short-term one too. Why?

Because Florida Capital Real Estate Partners, the Mosaic’s lender, might just be foreclosing on Phillips’s property soon — both the Mosaic and an apartment complex in Tampa called the Casa Bella. Swamplot’s source also suggests that Camelot Realty Group — the company that’s clearly been very busy handling the Mosaic’s many condo sales — may already have had discussions with Florida Capital about taking over onsite rental duties from Phillips once the foreclosure takes place.

Photo of Mosaic and Montage: Swamplot inbox

13 Comment

  • How steamed would you be to have bought in this upscale condo only to have it turn into an extended stay hotel?

    Happy New Year Gus and my fellow Swampheads.

  • Maybe they should convert to a hotel. Then if that doesn’t work out they could make it a homeless shelter, then maybe a training building for the fire department. Or maybe a huge laser tag complex! Ooooooooo!

  • Very entertaining and interesting blog. It’s equally as interesting why you didn’t call me directly for a comment. Maybe “speculation” or “hearsay” makes better media fodder than the real facts?

    In any event, whenever you are interested in the truth, just contact me.

    Thomas Cervone/Camelot Realty Group

  • If you have something to say, Tom, just say it. We’re all ears. What exactly are the “facts”. Since you didn’t bother to deny any of the rumors, I’ll go ahead and assume they are true.

  • Yes, please clear it up for us Tom. We’re waiting. Perhaps you should contact Gus with your side of the story. He has always listened to all sides. Although, with the misinformation coming from all sides of this project since its inception, you may have a tough time being trusted. But please, do tell. What is the real story?

  • Tom, I agree. We’d all like to hear your side. One great thing about Swamplot is we have fun and usually get the real story. The Mosaic project has had many twist and turns, so here is your chance to set us straight… if you can chill out enough to tell us.

  • Camelot Realty is a joke. This clown who claims to have the “truth” is a poor excuse for a sales operation. Like a maggot He’s picking the bones of what’s left of this pathetic excuse for a condominium. He and PDR were made for each other and we as owners have to watch as he and his crew scrapes up what’s left leaving us in the dust as they turn this place into an hourly rate hotel.

  • James,

    Since Camelot did not broker your sale, and you and I have NEVER met, I cannot imagine what you were, or were not led to believe. Would you like to meet with me or discuss the “current condition” of the Mosaic? It would be my pleasure to speak with you about the “go forward” plan. There is one by the way. In the past 60 days we in Houston have heard that Turnberry scrapped their project and the land is now for sale, Sonoma has been “stopped”, Titan is permanently on hold, and others are struggling to say the least. We are in challenging times to be sure. For a fact Mosaic was the best selling (and still is) high rise in Houston in 2008, and probably will be in 2009. We closed well over 100 units and have 100 in title. These are undisputable facts and public record. If you want to know about the leasing plan, short or long term rentals, sales or the Montage versus the Mosaic, just contact me. I’m more than happy to tell you “all” that I know.


  • My kids, and I as chauffeur, would be very happy if there were indeed a laser-tag place inside the Loop. Might be just the temporary thing for the Sonoma site.

  • The Leasing Team

    Are you kidding me! I have never meet such a bunch of pure idiots. John Shry, Cyndie Peek and Luwhwanna Lamas. I just signed a lease here at the The Montage Of Houston and they were so desperate for me to sign the lease they lied to me about the condition of the building. After moving and taking a closer look I discovered that the cabinet are made of pressboard. The wood floors the cheapest made. The hallways annd apartment units share common air which mean there is a 2 inch gap under each entry unit door which allows sound to tranfer fron the hall into you unit and vise versa. No one ever told me the A/C units don’t keep the units cool enough and that the elevators continue to trap people. That the neighborhood is in the Ghetto and at night it is not safe to walk the streets. Also there is not a grocery store in the area.That’s a serious liability! The power cuts out when ever there is a thunderstorm and the poorly skilled maintenance team can’t even figure out why. Apparently the development group Phillips Development Realty filed bankruptcy on both towers and is one of the contributors to the economic meltdown and real estate collapse and the irresponsibility of the development group to spend the type of money (200+ million) on an area of town that can’t support and not only flood the market with overpriced condos which reduces the total values of the surrounding area property.The 100 homeowners who bought in north tower out of 800 total units apparently are looking to file a class action against Corous Bank and Phillips Development Realty for not only for construction defect for the 60+ unit that received water intrusion damage during hurricane IKE and the overinflated prices for the condo units(600sf=200,000). With the real estate market in the dumps it has caused some of the homeowners to become upside down on their condo units. What has this world come to that you actually have idiot leasing teams and wanna be real estate developers in there rented planes traveling around pretending to be contributing to the community and all there doing is living off borrowed money they never intend to pay back. Here is a link to Phllips Development Realty web site and to anyone and everyone who’s been affected by this poor management of this property please report all illegal activities and financial irresponsibility to the the National Wistleblowers Center
    Let’s hold these people liable for there lack of integrity and poor business practices. Donald Phillips,Burney Madoff, and Robert Allen Stanford have fleeced this country long enough. People it’s time to take back our country and hold these people criminally responsible for there actions! We can no long afford to allow this to happen. Also don’t forget to contact the Attorney Generals Office of Texas and the Better Business Bureau.
    Concerned Citizen of Texas

  • @ John: The Ghetto? That’s funny because I see ‘Ghettos’ being turned into great living areas everyday. Midtown used to be the ‘ghetto’ as it was 4th ward. Time changes everything. Just some food for thought.

  • It’s pretty obvious “John” has no idea what he is talking about. First off, after Hurricane Ike the developer took it upon itself to fix any water damage in residents’ units, even though technically it wasn’t their responsibility. That’s why we buy renter’s insurance! When you’ve got 120mph winds blowing at your windows there’s bound to be some damage, no matter if you’re in an apartment or a house.

    Second, John is making it out to seem like Mosaic is the only place where people are upside down on their homes. Let’s clarify that if you bought ANY house or condo from 2004-2007, there’s about an 80% chance you’re underwater.

    Third, power going out in the building is not due to any construction defects, it’s due to the city’s crappy power grid. That being said, I have not had this problem.

    I personally think this is a great place to live and would recommend it to anyone. The staff is very polite and helpful and the amenities are top-notch.

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