Subdude Posted January 4, 2006 Share Posted January 4, 2006 McCombs plans 400 apartments near downtown on West Dallas By NANCY SARNOFF Copyright 2006 Houston Chronicle A San Antonio-based real estate firm led by businessman and former Minnesota Vikings owner B.J. "Red" McCombs is planning to build more than 400 apartments in a new development near downtown. Koontz McCombs will break ground in March on the roughly $50 million pro- ject. The still-unnamed complex will be built on 5.5 acres at 2221 West Dallas near Montrose, once the site of a CenterPoint Energy meter-reading facility. The project, which could be completed by the end of next year, comes at a time when most apartment complexes in Houston are full. Hurricane evacuees who relocated here have leased thousands of rental units in the past few months. From August to November 2005, occupancies in the nicest complexes went from about 89 percent to almost 94 percent. Link to the article Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted January 4, 2006 Share Posted January 4, 2006 Apartments?Is this the best they can do with this prime lot? Great.I noticed CP had moved, and was at least hoping for some townhomes. Quote Link to comment Share on other sites More sharing options...
The Great Hizzy! Posted January 4, 2006 Share Posted January 4, 2006 Look at it this way, Coog: given the neighborhood, when the apartment market in Houston softens again and apartment living isn't as desirable, those apartments could be converted into townhomes or condos. Given the area's development patterns and the economic demographic, I think an apartment complex wouldn't be a big risk at all.I could understand the uneasiness of an apartment complex in the warehouse district or Old Third Ward, though. Those areas haven't exactly established themselves yet and the future isn't a given for them. Quote Link to comment Share on other sites More sharing options...
groovehouse Posted January 4, 2006 Share Posted January 4, 2006 Geez... stick MORE apartments/condos on that street!? McCombs also sells cars in San Antonio... I wonder if he will offer a discount on a car if you purchase/rent an apartment? Maybe they can have loaner McComb cars on site! LOL Quote Link to comment Share on other sites More sharing options...
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