Monday, June 27, 2016

No longer coming so soon, if ever: The Glasshouse Condos at 3615 Montrose Boulevard


On-site project sign with rendering in October 2015 
HBJ reports this morning (6/27/2016) that Riverway Properties has "shelved" its plans for the luxe condos at 3615 Montrose Blvd due to insufficient demand.

Corner of Marshall St and Montrose Blvd in October 2015 - Site of planned luxury condo projecct
Corner of Marshall St and Montrose Blvd in October 2015: The promise that wasn't fulfilled

As of Jan 2016, the 13.500 square foot property is appraised at $1,147.415 by HCAD, a substantial increase over the past few years, as also experienced by innumerable other Innerloop properties. The owner is shown as MONTROSE & MARSHALL LLC, a limited liability company registered 12/03/2013.  Harris County real estate records reflect that Independent Bank (as successor to Bank of Houston) agreed in January 2016 to modify the terms of a $500,000 loan secured by the property to an interest-only installment basis until June 2017. The loan was made in connection with the acquisition of the property by the current owner. 

View across Montrose: The 3615Montrose sales center that has been rendered moot (June 2015 photo)  


No comments:

Post a Comment

Houston Streetwise Summer 2015 - Thumbnails of Top Photos

Houston Streetwise Summer 2015 - Thumbnails of Top Photos
thumbnails of blog post pics Summer 2015

2015 Mosaic of Sample Pics

2015 Mosaic of Sample Pics
2015 Jan-Feb Pics Posted