SIGNS OF A PLANNED MIDRISE AT D’AMICO AND DUNLAVY There’s a sign up in front of the former dentist’s office and bridal shop structure at 3327 and 3331 D’Amico St., tucked into the northern edge of the Villas at River Oaks (formerly Rincon) apartments on Dunlavy St. just south of Allen Pkwy. Sugar Land homebuilder Christopher Sims bought the properties in April; a logo for his Sims Luxury Builders, along with one for the probable architect, the Mirador Group, appear on a sign that went up on the 20,192-sq.-ft. lot last week, advertising a new midrise building named Riva at the Park. A website for the new development greets mailing-list signups with breezy copy touting the development’s location and appliances, but no description or rendering of what’s planned. Photo: Swamplot inbox
I hope this gets built
shame it’s such a small site, but this is the perfect location to go big (dense and price point) with the new facility and faux-lake being built right there on Allen Pkwy.
That is a skinny little lot on D’Amico. It will be interesting to see what they can scrunch in there. But this does seem to be a trend as large lots inside the loop are few and far between. We might be witnessing a new design cliche in Houston: the mini-midrise.
Old School: lots of land inside the loop. Cheap land too. Just not in the small % of hyper desirable spots in the loop.
I have 7 acres for sale at ~$15/foot range. 610 frontage. By 288 south. No rush to sell as lots of apts sitting on it currently allowing us to hold. We have other innerloop land in the $10/ft range (with apts on it to boot)
Not trying to pitch it to anyone, so I won’t link, just going to give real examples
@ Old School: I think that you’re onto something, especially in Greater Montrose where a lot of the larger parcels are already locked up. However, construction costs and operating expenses per unit on small projects are quite a bit higher, and from a transactional standpoint, smaller projects in second-tier urban areas have a much narrower appeal within capital markets.
If this is happening and its a bonafide trend (and you might look to see if the spread between prices of commercial land that are small or oddly-shaped and those that are sizable and regularly-shaped to see if they are narrowing in order to discern whether the trend is bonafide), then a difficult threshold has been crossed in that part of town. The cost of new housing should rise significantly because the cost to supply the market is so much higher; but the higher price should be limiting the market to a very affluent kind of buyer that can afford to live pretty much anywhere else in the metro area that they so choose; that is to say, even among potential consumers of such new high-priced housing, there would be a lot of out-bleeding from Greater Montrose into other neighborhoods. If the threshold has been crossed, then we should expect a significant reduction in the rate of demand and then of new construction there; and if we are not seeing that, then either the trend is not bonafide and these few small mid-rises are a niche market or noise in the data or there is an imbalance in the market that precedes a correction.