New Highrise Condo for Alamo Heights area. (Houston, Dallas: wood floors, apartment)

[googie2525]

Originally Posted by Rexlocker

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.

Are you talking about the Quarry Townhomes redo, over on Treeline Park? If so, I would skip it, the place is SO poorly built, and I've never seen a development so utterly jinxed by plumbing problems, faulty wiring, etc. Yeah, they'll slap on some new paint, do some basic cosmetic work before they sell 'em off, but ultimately it'll just fall to pieces like all the other slapped-together apartment jobs - plus the Quarry Market is slowly going downscale IMHO. I mean, I still shop the anchor stores: Borders, Whole Woods, Starbucks, the Quarry Theater, etc., but I've noticed a very obvious decline in the last few years. I think La Cascada and the Stone Oak area in general have taken a LOT of the business away, it's simply not the only game in town anymore. My two cents, I'm sure many will disagree.

[210]

Originally Posted by googie2525

Are you talking about the Quarry Townhomes redo, over on Treeline Park? If so, I would skip it, the place is SO poorly built, and I've never seen a development so utterly jinxed by plumbing problems, faulty wiring, etc. Yeah, they'll slap on some new paint, do some basic cosmetic work before they sell 'em off, but ultimately it'll just fall to pieces like all the other slapped-together apartment jobs - plus the Quarry Market is slowly going downscale IMHO. I mean, I still shop the anchor stores: Borders, Whole Woods, Starbucks, the Quarry Theater, etc., but I've noticed a very obvious decline in the last few years. I think La Cascada and the Stone Oak area in general have taken a LOT of the business away, it's simply not the only game in town anymore. My two cents, I'm sure many will disagree.

Your rant about the Quarry Market is a little odd to say the least.

How exactly has it downscaled? It has basically the same tenants (minus two or three) that it had 3-4 years ago. While during the same time period has added Fleming's and P.F. Changs. P.F. in 2003 and Fleming's in 2006.

Nothing about it has downscaled and with Quarry Village being built across Basse Rd. it's actually going to become more upscale.

[wCat]

Originally Posted by 210

Your rant about the Quarry Market is a little odd to say the least.

How exactly has it downscaled? It has basically the same tenants (minus two or three) that it had 3-4 years ago. While during the same time period has added Fleming's and P.F. Changs. P.F. in 2003 and Fleming's in 2006.

Nothing about it has downscaled and with Quarry Village being built across Basse Rd. it's actually going to become more upscale.

210...I'm watching the Quarry Shopping area very closely. I've seen a number of changes......some growth, some failures, and some sitting on tenious ground. Flemings and PFC's were definitely good moves for that area....but some other businesses are just not getting the shoppers. There may be money in the area....but there aren't the numbers needed to support the business. It takes a business with fast turnover. Tootsies closed up (high end women's clothing)....and Chico's relocated in their place. (upscale and more moderately priced).....and The Storehouse just closed....great furniture, but not cheap and not traditional....so not enough solid repeat customers in that area Just not the "mover and shaker" market that Storehouse needs. There's an econimical mix that patrons that area....it's not an area to cater to a certain economic niche unless it offers high repeat sales (as in restaurants).

I absolutely HATE the Borders Bookstore there because it is always trashed. They get a lot of "kids" waiting around for the theater milling through the books. It's just hard to police the place for loitering. I drive to Barnes and Noble or to the Borders out at the Forum in UC.

Tell us more about the "Quarry Village". I'm assuming that's the little strip of land along Basse Rd and the golf course? What stores are planned for that area? I personally think this area needs a higher end resort type hotel, which would be ideal near the airport, good shopping and dining AND a golf course. But they didn't ask me, did they?

[googie2525]

Originally Posted by 210

Your rant about the Quarry Market is a little odd to say the least.

How exactly has it downscaled? It has basically the same tenants (minus two or three) that it had 3-4 years ago. While during the same time period has added Fleming's and P.F. Changs. P.F. in 2003 and Fleming's in 2006.

Nothing about it has downscaled and with Quarry Village being built across Basse Rd. it's actually going to become more upscale.

My "rant," as you so succintly called it , refers primarily to the change in customer base, and lack thereof, over the last several years, and can be confirmed at about 8:00 o'clock every Saturday night, when the place fills up with a decidedly non-upscale, and pretty racous, crowd. Yeah, most anchor stores remain, but there have been several closures over the last few years and it's a ghosttown on most weekdays. I know a few tenants there (they're also managed by Trammell Crow, who manage a building where I lease as well) who were and ARE very unhappy with the place, basically low traffic, low sales (as compared to other locations in town), incredibly high rent, etc. I hate to burst your bubble, as you're so fond of saying, but this is not a new trend in retail. This happens to pretty much all mini-mall areas over time. Everyone follows the newest flavor-of-the-month. When the Central Park Mall redo is complete, that wil be the new hot spot for a few years (and will, IMHO, take more business/customers from the Quarry). No, it'll never be a Crossroads Mall, but it's without a doubt lost its initial lustre.

[smuboy86]

Storehouse furniture actually went bankrupt and closed all their stores, including the Dallas Galleria Store and their University Park store here in Dallas. Tootsies closed to focus their market on Dallas and Houston. The biggest problems of the Quarry are the dead spots you have. The farhand corner where Tootsies/Chicos has traditionally been a slow traffic area, even when it first opened. Hopefully with the pottery barn expansion it will liven up the northern end.

[LivingLikeAGradStudent]

Most people who go to the Quarry won't head over to the Central Park area. Traffic there is crazy, and the mix of restaurants keeps locals with money at the Quarry.

[googie2525]

Originally Posted by googie2525

Are you talking about the Quarry Townhomes redo, over on Treeline Park? If so, I would skip it, the place is SO poorly built, and I've never seen a development so utterly jinxed by plumbing problems, faulty wiring, etc. Yeah, they'll slap on some new paint, do some basic cosmetic work before they sell 'em off, but ultimately it'll just fall to pieces like all the other slapped-together apartment jobs - plus the Quarry Market is slowly going downscale IMHO. I mean, I still shop the anchor stores: Borders, Whole Woods, Starbucks, the Quarry Theater, etc., but I've noticed a very obvious decline in the last few years. I think La Cascada and the Stone Oak area in general have taken a LOT of the business away, it's simply not the only game in town anymore. My two cents, I'm sure many will disagree.

I meant to say LA CANTERA (not La Cascada), my bad ...but yeah, the Quarry Market is still fine in many respects (I just got home a few minutes ago from Whole Foods, nice joint), my point being that as the Quarry Market eventually succumbs to the woes of being one of the "once-hot" properties, as they all eventually do (and which I see slowly happening there, since I've shopped the center since day one and tend to notice these rather obvious sorts of things), the apartments and condos that surround it will lose their value, investment-wise, and it's a common fact that the first properties really hit when the real estate markets begins to tank or even stagnate somewhat, are the condos. Now, Olmos Basin and AH directly behind Lincoln Heights won't be hit, but then again, there are no apartments or condos to speak of around that particular area...Anyway, I was simply answering the post about buying/investing in the Quarry redo.

[210]

Originally Posted by wCat

Tell us more about the "Quarry Village". I'm assuming that's the little strip of land along Basse Rd and the golf course? What stores are planned for that area? I personally think this area needs a higher end resort type hotel, which would be ideal near the airport, good shopping and dining AND a golf course. But they didn't ask me, did they?

West Elm, Cru Wine Bar, Urban Retreat, a second Starbucks, and much more.

[wCat]

Originally Posted by 210

West Elm, Cru Wine Bar, Urban Retreat, a second Starbucks, and much more.

Is this a done deal 210? Who's the developer? I know the property was owned by Lincoln properties.....but who's behind the genius of "more stores"?
Basse Rd behind the Quarry has already become a race track (I've almost been clipped more than a half dozen times by someone darting in and out of traffic there....I can't imagine the nightmare of more traffic ACROSS the street! That's one of the back roads OUT of AH to avoid 281. HELP?!

[wCat]

Originally Posted by smuboy86

Storehouse furniture actually went bankrupt and closed all their stores, including the Dallas Galleria Store and their University Park store here in Dallas. Tootsies closed to focus their market on Dallas and Houston. The biggest problems of the Quarry are the dead spots you have. The farhand corner where Tootsies/Chicos has traditionally been a slow traffic area, even when it first opened. Hopefully with the pottery barn expansion it will liven up the northern end.

Smuboy...thanks for that info on the Storehouse. I have been shopping them for 20 years (when I WAS in Dallas)....I'm sorry to see them go. I think they were over priced. Ikea is giving them a run for their money. Lot's of similar styles ....the "look" for less I suppose.