Wednesday, May 11, 2016

The end of the finer form of Marxism on recycled-rags-row in Montrose?

Houston Chronicle reports that Mark Cox (of Mark's fame) is suspending regular restaurant service at the fine-dining-in-a-church venue on Westheimer at Ralph. See story here.

Reading between the lines, it appears the one-of-a-kind dining spot is no longer economically viable.
More concretely, though not mentioned by Syd Kearney, the appraised value of the property has gone up substantially (from $1,621,921 to $2,014,468 in a year) and therefore, presumably, the property tax bill. That's typically bad news for both landlord(s) and tenant(s).

HCAD shows the property owner since 1998 as 1658 WESTHEIMER RESTAURANT GROUP, LTD (spelling corrected).

1658 Westheimer restaurant property comprising several lots, formerly a church 
There is considerable volatility in the retail/restaurant space leasing market nearby. The corner space on Westheimer and Dunlavy (formerly DUO, a boutique) is still empty, though there is a new store opening on the Dunlavy side of the building; and the former WISH WAREHOUSE next to BUFFALO EXCHANGE has not found a new occupant yet either (though the oversized space-for-lease sign has now been gone for a while). Across the street, nothing new has popped up in the mirrors-for-windows restaurant space at the strip center that poscol vacated when it moved East to its current standalone building past Montrose Boulevard. Meanwhile the street art on the South side of Westheimer opposite the Animal Hospital and the adjoining fenced vacant lot keeps morphing on. Running the gamut from quikkie urban graffiti to more serious non-abstract muralism, the scene on Montrose's fashion-recycling row changes so frequently that it's hard to keep up, pictorially speaking. In short: Avant garde, but multi-chromatic. Mark's table-cloth dining room really didn't make for a good fit.

Also see --> January post on commercial real estate leasing on the Montrose segment of Westheimer

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