Dakota79 Posted August 3, 2014 Share Posted August 3, 2014 I heard today that all the tenants were told to move out by Sept. This 17 story building is a rental. I wonder of it will be made into condos or what will happen. Renderings and info: http://www.bizjournals.com/houston/news/2015/06/18/sales-tostart-soon-for-luxury-condominium-project.html http://static1.squarespace.com/static/537f8331e4b08eeb11e2760f/552ecb20e4b0ce0bbfebb38a/5531221be4b0440a0e653aac/1429283373254/Front_3_Dusk_1.jpg?format=1400w http://static1.squarespace.com/static/537f8331e4b08eeb11e2760f/552ecb20e4b0ce0bbfebb38a/5531222ee4b0716bf5428580/1429283378145/River_Oaks_Dusk_2_270315.jpg?format=1400w http://static1.squarespace.com/static/537f8331e4b08eeb11e2760f/552ecb20e4b0ce0bbfebb38a/55312232e4b0440a0e653b2b/1429283379590/River_oaks_Penthouse_terrace_270315.jpg?format=1400w 4 Quote Link to comment Share on other sites More sharing options...
Specwriter Posted August 4, 2014 Share Posted August 4, 2014 If it is going condo might not the current tenants be given the opportunity to buy in? It sounds like some extensive, and possibly lengthy, remodeling might be involved if not complete demolition. Quote Link to comment Share on other sites More sharing options...
Avossos Posted August 4, 2014 Share Posted August 4, 2014 I just noticed this building the other day. Seems like an outlier, but almost a glimpse into the past. I like this building. We will see what happens to it... It seems to be sitting on a decent amount of land. Quote Link to comment Share on other sites More sharing options...
Dakota79 Posted August 4, 2014 Author Share Posted August 4, 2014 HCAD says it's on 119,999 sq ft of land (2.75 acres) and on the rolls for $17 million. Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted August 5, 2014 Share Posted August 5, 2014 It would be a shame if it was torn down. It has some character. The glass also plays nicely on a clear day with the church next door. 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted August 5, 2014 Share Posted August 5, 2014 ^ Agreed.  I would hate to lose this one too.  Color me skeptical. Quote Link to comment Share on other sites More sharing options...
aarosurf Posted August 5, 2014 Share Posted August 5, 2014 I wouldn't be surprised if this one is demo-ed. Quote Link to comment Share on other sites More sharing options...
Dakota79 Posted August 5, 2014 Author Share Posted August 5, 2014 It's hard to say. At $125/foot the land is worth $14m. The units have great floor to ceiling windows and nice balconies, but no washer/dryer connections, and they don't have gas connections. I would give it a 50/50 chance of surviving. Quote Link to comment Share on other sites More sharing options...
Subdude Posted August 6, 2014 Share Posted August 6, 2014 If the units are not laid out for washer/dryer connection it's hard to see how a condo conversion would work.  Quote Link to comment Share on other sites More sharing options...
august948 Posted August 6, 2014 Share Posted August 6, 2014 If the reviews it's gotten on yelp and others are any indication, it's liable to be demo'd or at least extensive gutted. Sounds like there are a lot of aging infrastructure problems. Quote Link to comment Share on other sites More sharing options...
Specwriter Posted August 6, 2014 Share Posted August 6, 2014 If the reviews it's gotten on yelp and others are any indication, it's liable to be demo'd or at least extensive gutted. Sounds like there are a lot of aging infrastructure problems. Bound to be infrastructure issues and how efficient do you think those fifty year old floor-to-ceiling windows are? New or renovated condos (or apartments) at that price point without in-unit laundry facilities not to mention individual metering of utilities? I don't think so. All that said, I like the look of the original building and, if its "bones" are sufficiently sound it would be great to see it renovated. 2 Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted August 6, 2014 Share Posted August 6, 2014 I know people who live there. The building is going condo. People's leases are not being renewed but they aren't kicking people out. Sounds like upgrades and construction will take place while folks are living out their leases. It's a neat old building with decent rents considering the location. Sad to see another reasonable place bite the dust. 1 Quote Link to comment Share on other sites More sharing options...
infinite_jim Posted August 6, 2014 Share Posted August 6, 2014 Is there any relation for this reno project to the razed site next door of the former garden and landscape shop (they used to have sculptured shrubs in the median on Buffalo Speedway)? Quote Link to comment Share on other sites More sharing options...
Dakota79 Posted August 7, 2014 Author Share Posted August 7, 2014 No. That's the expansion of St. John's school. They paid about $80 million for that. It will be a gorgeous campus, but I would have loved some density there. Quote Link to comment Share on other sites More sharing options...
Luminare Posted August 7, 2014 Share Posted August 7, 2014 Well they wasted a good amount of money on a enormous parking lot that I hope is only temporary, but with how planned out it is....idk for sure Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted August 7, 2014 Share Posted August 7, 2014 Well they wasted a good amount of money on a enormous parking lot that I hope is only temporary, but with how planned out it is....idk for sure Yes, the parking lot is temporary, to make up for spaces lost when they started their current construction project. They are just now doing the master planning to decide what will be put on that parcel. Quote Link to comment Share on other sites More sharing options...
Luminare Posted August 8, 2014 Share Posted August 8, 2014 But you would think they would just make a simple asphalt parking lot instead....that parking lot looks pretty permanent to me...even down to the street lamps. That doesn't spell temporary. The metal building sure will be temporary, but idk. Just makes me already disappointed with what they are planning for this area unless this is just a parking lot for the long haul construction wise. I run through this area a bunch after work and it's hilarious seeing the sign that shows an actual rendering of the temporary building....like a rendering someone actually spent time on lol. Quote Link to comment Share on other sites More sharing options...
Specwriter Posted August 8, 2014 Share Posted August 8, 2014 But you would think they would just make a simple asphalt parking lot instead....that parking lot looks pretty permanent to me...even down to the street lamps. That doesn't spell temporary. The metal building sure will be temporary, but idk. Just makes me already disappointed with what they are planning for this area unless this is just a parking lot for the long haul construction wise. I run through this area a bunch after work and it's hilarious seeing the sign that shows an actual rendering of the temporary building....like a rendering someone actually spent time on lol.  The school spent $80 million for the property. A good part of that money must have come from tuition, etc. You can't expect people who cough up that kind of scratch for their children's tuition to park their Land Rovers on shell or even asphalt surfaces.  Also, temporary may mean several years. There's nothing wrong with showing a little class if you can afford it. Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted November 24, 2014 Share Posted November 24, 2014 http://blog.chron.com/primeproperty/2014/11/new-york-company-to-convert-river-oaks-high-rise-apartments-into-condos/ The aging apartment building will be converted by it's new owners into condos over the span of the next couple of years or so. The building was in the news earlier this year after complaints were highlighted regarding possible utility and safety issues. 1 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted November 24, 2014 Share Posted November 24, 2014 http://blog.chron.com/primeproperty/2014/11/new-york-company-to-convert-river-oaks-high-rise-apartments-into-condos/ The aging apartment building will be converted by it's new owners into condos over the span of the next couple of years or so. The building was in the news earlier this year after complaints were highlighted regarding possible utility and safety issues.I had a sigh of relief. The front Fountain could use some TLC as well. Happy it's not a tear down. Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted April 16, 2015 Share Posted April 16, 2015 The building will receive a face-lift.  http://www.edi-international.com/the-river-oaks  88 condo units Renovations include new facade and interior U/C       8 Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted April 16, 2015 Share Posted April 16, 2015 WOOOOOW!!! 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted April 16, 2015 Share Posted April 16, 2015 (edited) Woah.. Lemme see ya upgradeee... Edited April 16, 2015 by cloud713 2 Quote Link to comment Share on other sites More sharing options...
monarch Posted April 16, 2015 Share Posted April 16, 2015 lush, green, and quite lovely! 1 Quote Link to comment Share on other sites More sharing options...
DNAguy Posted April 16, 2015 Share Posted April 16, 2015 Woah.. Lemme see ya UPGRAYEDD... Â FIFY Â 4 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted April 16, 2015 Share Posted April 16, 2015 Awesome! It will keep it's character and be saved from the wrecking ball! 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted April 16, 2015 Share Posted April 16, 2015 http://www.houstonchronicle.com/business/real-estate/article/River-Oaks-high-rise-getting-a-makeover-6204861.php#photo-7831143     New Yorker Richard Leibovitch says local developers advised him to demolish the River Oaks Luxury Apartments - the aging midcentury high-rise his firm purchased last fall - and build two side-by-side towers with upward of 600 units. His firm, New York-based Arel Capital, decided instead to redevelop the 1967 structure with fewer but larger units for a luxury condominium project. During its heyday, the developer says the 17-story apartment building at 3433 Westheimer was iconic for its "exclusive address, expansive grounds and Miesian-style architecture" with its steel frames, curtain walls, prominent use of glass and open interiors. The building began to deteriorate over time, with aging plumbing and yellowing walls. "What we wanted to do was basically renovate this building and bring it back to its old level," Leibovitch said in an interview. "We are taking the bones of the building and bringing it into the 21st century."  Construction is underway on the 84-unit condominium project. The project will retain the original footprint on the three-acre property along Westheimer in the heart of River Oaks. Initial renderings show a contemporary-style building with floor-to-ceiling windows and terraced gardens all around. The design includes panoramic views, corner balconies and large roof terraces. Floor plans will range from 1,500 to 9,000 square feet.  The River Oaks is slated to be completed by fall 2016. A sales center will open in May.      9 Quote Link to comment Share on other sites More sharing options...
Luminare Posted April 16, 2015 Share Posted April 16, 2015 Impressive! 1 Quote Link to comment Share on other sites More sharing options...
Triton Posted April 16, 2015 Share Posted April 16, 2015 Just more proof since late last year that the market has been fundamentally shifting from new multfamily developments to new condominiums. 2 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted April 16, 2015 Share Posted April 16, 2015 Thankfully it was bought by a New York developer who isn't so stupid like our local developers who tear down anything that looks a little old. 5 Quote Link to comment Share on other sites More sharing options...
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