New Highrise Condo for Alamo Heights area. (Houston, Dallas: sales, real estate market)

[hello13685]

Thanks very much for those pictures. That's very considerate of you to prepare these and share them

[Minz]

210,

I went to the "re-zoning" meeting where the local citizens and developers met to discuss what was happening with the Sunset Ridge Apartments....the developers pretty much said they would be torn down. As far as if they would all be torn down, they didn't really say but that is what I understood. They said they would work w/ the local community to come up with a plan where everyone would be happy. It was an interesting meeting to say the least.

[Sampaguita]

Minz - do you mean Barcelona as in Spain or the Barcelona condos in AH? I rented a studio at the Barcelona back in the late 80s/early 90s. I loved my little place & how convenient it was to everything. My only complaint was the paper-thin walls.

That's some hi-rise, 210. Makes me think of Wilshire Blvd. in Los Angeles. I can see why the locals are upset as that will cast a huge shadow over surrounding houses.

[Minz]

Originally Posted by Sampaguita

Minz - do you mean Barcelona as in Spain or the Barcelona condos in AH? I rented a studio at the Barcelona back in the late 80s/early 90s. I loved my little place & how convenient it was to everything. My only complaint was the paper-thin walls.

That's some hi-rise, 210. Makes me think of Wilshire Blvd. in Los Angeles. I can see why the locals are upset as that will cast a huge shadow over surrounding houses.

Hi Sampaguita,

Yes, I mean the Barcelona Condos in Alamo Heights!! How funny...a small world, isn't it. Luckily my neighbors are quiet so I don't hear them through the paper thin walls. I really like it hear...it's a charming, quaint place and I think they have kept them up pretty well.

[Rexlocker]

There have been so many starts and stops of these so-called answers to our need for high rise living, I'm sick of the speculation.
Construction costs being what they are, you can expect small units and high costs per foot.
I don't see people flocking to make reservations when they're fresh off the twin tower hype of Vidorra.
I think the more interesting values will be found in smaller upscale projects like Pinnacle and Quarry. And, like it or not, La Cascada continues to be the best high rise value in town. You won't find units that big again anywhere near downtown, unless it comes at penthouse pricing.

[wCat]

Originally Posted by Rexlocker

There have been so many starts and stops of these so-called answers to our need for high rise living, I'm sick of the speculation.
Construction costs being what they are, you can expect small units and high costs per foot.
I don't see people flocking to make reservations when they're fresh off the twin tower hype of Vidorra.
I think the more interesting values will be found in smaller upscale projects like Pinnacle and Quarry. And, like it or not, La Cascada continues to be the best high rise value in town. You won't find units that big again anywhere near downtown, unless it comes at penthouse pricing.

Penthouse pricing....what is that for SA standards? The apartment I saw at La Cascasda had a great view and was caverness.....almost too much! I heard they were doing well.....but I don't have facts. The model I saw was the three bedroom.......for $795K at the time. Not too family friendly.....and no convenient grocery or shopping. Rivercenter Mall is over priced for the tourist set. All these lofts and condos going up downtown.....but is there development planned for community support for living? I wouldn't live down there for those prices......

[wCat]

I'm also in the Heights area...and real estate is crazy here. All I want is a comfy condo with ground floor access that isn't outrageously priced. Buying for an investment is getting very slim....I'm looking outside of 09 now.

We looked at a 1100 sq ft rental on Corona last week as a last resort. The rent was cheap for AH standards at $1195.....but it was a complete dump. They have done ZERO upgrades....2 VERY small bedrooms and one bath. The living/dining room was "L" shaped and would not fit more than a setee or two chairs. There were actually roach "motels" in each closet and it smelled like a nursing home. It was 71 years old......and disgusting.

The back yard was just plain scary. Overgrown with a falling down garage. Too bad the owners can't tear it down now with the new AH razing limitations. This one needed to go! I'm in the biz, so I can usually see potential in any residence, but this was just awful. The sad thing is....someone will pay that price to "get" to live there.

[Rexlocker]

Originally Posted by wCat

Penthouse pricing....what is that for SA standards? The apartment I saw at La Cascasda had a great view and was caverness.....almost too much! I heard they were doing well.....but I don't have facts. The model I saw was the three bedroom.......for $795K at the time. Not too family friendly.....and no convenient grocery or shopping. Rivercenter Mall is over priced for the tourist set. All these lofts and condos going up downtown.....but is there development planned for community support for living? I wouldn't live down there for those prices......

Penthouse pricing is just plain ridiculous in any market, but I was referring to the $1 Mil. plus numbers. I like the bigger plans because I still have this disconnect that occurs when a developer shows me 1000 sf unit and explains why it's worth $300k.

I agree about family friendly. Not enough resources down there yet to have a house full in a high rise. Old cart and horse, more density brings more services and vice versa. I did read that a new grocery/deli is opening this spring downtown in the new time-share bldg next to LaC. Hippos? Supposed to be good for basics (peanut butter, imported beer, wine) and a quick nosh etc.

I just put reservation down on an Artisan Park twnhm. They're limiting investors because they want more real residents, but pricing is good, and should net a decent return in 2-3 years. Haven't decided if I'll lease it or sell. I'm also waiting on info on Quarry redo. Need pretty stout margins to make good on investmts w/ property taxes etc. in new development.

[ShaneSA]

It's interesting that the folks of Alamo Heights are so worried about the happenings in Broadway and Hildebradn area. It's 09, but NOT Alamo Heights.
Years ago, I started buying homes and 4 and 8 plexes in Mahncke Park becasue I saw a run down Alamo Heights. It's the same building design without the old money. Yes, it was run dwon and full of prostitutes and drugs. That was then, this is now.
I am happy about the high rises being built and planned along Broadway. Years ago I saw a gold mine in future developemnt for a chrming city that was expanding out to the hills to get away from the "slums" of inner city. Now, here they come back and alot of out of staters are picking the area for the charm and ease of getting around the city.
I did alot of redoing and rebuilding and cleaning up of properties. It has finally paid off. I also am breathing a heavy sigh of relief that I was right.
I just had to put my 2 cents(sense) in there.

[googie2525]

Originally Posted by ShaneSA

It's interesting that the folks of Alamo Heights are so worried about the happenings in Broadway and Hildebradn area. It's 09, but NOT Alamo Heights.
Years ago, I started buying homes and 4 and 8 plexes in Mahncke Park becasue I saw a run down Alamo Heights. It's the same building design without the old money. Yes, it was run dwon and full of prostitutes and drugs. That was then, this is now.
I am happy about the high rises being built and planned along Broadway. Years ago I saw a gold mine in future developemnt for a chrming city that was expanding out to the hills to get away from the "slums" of inner city. Now, here they come back and alot of out of staters are picking the area for the charm and ease of getting around the city.
I did alot of redoing and rebuilding and cleaning up of properties. It has finally paid off. I also am breathing a heavy sigh of relief that I was right.
I just had to put my 2 cents(sense) in there.

Smart move, Mahncke Park is gonna be "IT" pretty soon (not to my taste, as I have a severe aversion to Craftsman Bungalows, but the central location can't be beat). A very good investment.