High-rise to bring luxury to Kirby

By NANCY SARNOFF
Copyright 2005 Houston Chronicle

While luxury high-rise condominiums are commonplace in big cities — where land is scarce, forcing developers to build up instead of out — they've been slow to develop in Houston, where most folks prefer single-family homes.

Still, high-rise living is spreading to some neighborhoods in the Loop.

Real estate developer Mike Atlas of MDA Cos. thinks Houston is ready for an ultra-chic condominium building to rival those going up in Dallas, Miami and Vancouver.

Atlas is planning a 30-story high-rise on Kirby Drive that he said will have the feel of condos in a Four Seasons or Ritz-Carlton.

"We're going to pull out the stops," said Atlas, a native Houstonian who ran Atlas Air Conditioning until a couple of years ago when he retired.

The proposed building, called 2727 Kirby at River Oaks, will be made of glass and steel. The slim tower's west-facing facade will slope toward Kirby like the bow of a ship.

Scott Ziegler of Ziegler Cooper Architects designed the building.

The developer and architect had to be creative with the design because the building will sit on a narrow lot that's less than an acre in size.

A 1960s-era, eight-story office building on the site will be torn down to make way for the new tower.

The building will be able to accommodate 96 residential units, but Atlas expects many of them to be combined to create larger ones.

The residential units will start on the eighth floor, above parking and an "aqua level," which will feature a resort-style swimming pool, lounge and party room.

Ledingham Design Consultants of Vancouver is designing the interiors, which will have 12-foot ceilings, fireplaces, floor-to-ceiling windows and large balconies with outdoor kitchens.

Atlas wouldn't reveal the project cost, but prices for units will start at $400 per square foot, or just over $500,000 for a 1,280-square-foot unit.

The developer said no extras would be necessary.

The units will be complete, down to the organizational systems in the closets.

"Our vision is options aren't required," Jerry Brown of MDA Cos. said.

Atlas just purchased the eight-story building that's on the site. The Page Parkes modeling agency was the building's main tenant.

Atlas expects to begin demolition this fall, but he first must sell 25 percent of the units.

Officials with the Upper Kirby District said the new high-rise and other projects planned for the area will improve property values in the neighborhood.

"It's exciting that an inner-city area is getting a lot of density," said Jamie Brewster, president of the district.

The district is talking about building an esplanade down the middle of Kirby to keep up with its changing image.

"The whole area is not going to look the same in two years," said David Joachim of International Realty Concepts, which was involved in the sale of 2727 Kirby.

Across the street from Atlas' project, Gables Residential Trust is planning a residential and retail development at the site of the old River Oaks Tennis Club.

Ben Pisklak , regional development director for Gables, said the company will break ground on its Kirby project early next year. It will combine 140,000 square feet of shops with some 390 apartments in a seven-story structure.

Gables is being acquired by Dutch-owned ING Clarion Partners for $2.8 billion — a deal that was announced this month — but Pisklak said there should be no change in the company's development plans for Houston.

New home for the arts
After more than 15 years, an arts group called the Community Artists' Collective is replacing its aging home in Midtown.

A partnership between the collective and private developer British American Properties is developing the Collective at Baldwin Park, a $22 million, seven-story project at 1515 Elgin.

The two-story building on the site, which became home to the collective in 1989, will be demolished to make way for the 100,000-square-foot commercial and residential development.

In addition to housing the collective and other small businesses, the project will have 62 residential units ranging from 925 to more than 4,000 square feet.

The units will be for sale and start at about $250,000, said Barry Barnes, a collective board member. Financial incentives will be offered to certain qualified buyers, but the details are still being ironed out, he said.

The group must sell between 30 and 50 percent of the units before construction begins.

Officials from the collective said the property's location next to Baldwin Park will be an asset. The park is being renovated, adding new lighting, more trees and new sidewalks.

The collective focuses on education, community development programs and exhibitions to make art more accessible to children and adults.

Jack Preston Wood & Associates is the architect for the new building.

Land still up for grabs
More land owners are selling real estate at auction these days because they say it can be a faster and cheaper way to sell a property than traditional methods.

But the owner doesn't always walk away from the sale with a deal.

Northeast Holdings, which owns about two acres of downtown land, still has its property after an auction earlier this month didn't produce a buyer.

It was a reserve auction, which means the seller could reject the highest bid if it didn't reach a preset price.

The high bid for the land at Commerce and Franklin streets near Minute Maid Park was $5.5 million. There's a paid parking lot on one of the parcels and an industrial warehouse on the other.

While there were 10 groups that bid, there were several buyers that were not able to attend the auction, said Kelly Toney of Richmond, Va.-based Tranzon, the auction house handling the sale.

"It did not sell at the auction, but we have four parties right now that we're negotiating with and expecting to get a contract," Toney said.

Galveston landmark to become condos

A historic building in downtown Galveston is being converted into residential condominiums.

The Eibands Building, once home of the Texas Supreme Court, is being transformed into 24 luxury condos by Karam Development Interests. Located at 2201 Postoffice St., the building was originally constructed around 1870 by Ballinger & Jack, a prestigious Galveston law firm that also founded the State Bar of Texas.

The building housed the Texas Supreme Court from 1875 until 1890, and was known as Eibands Department Store from 1900 until the end of the 20th Century.

Plans call for that retail tradition to continue on the first floor, while condos will be located on floors two through four. Units will range in size from 1,523 square feet to 2,012 square feet, and range in price from $313,530 to $486,240.

Amenities of the Eibands Luxury Condominiums will include gated parking, storage units, a rooftop overlook deck and a fitness center. Units will feature granite kitchen countertops and backsplashes, modern stainless appliances and custom build-outs.

Karam's development team consists of Pinnacle Construction Industries Inc., Joe Rozier of Eubanks Group Architects, interior designer Mikel Reper and V.J. Tramonte of Joe Tramonte Realty. Karam also developed the Ice & Cold Storage Building on Harborside Drive in Galveston.