15 replies to this topic

[JPI-ING]

Hello everyone, I have been coming to this site from time to time for the last year or so and this is my first post. I am currently tracking condo/apt supply for Downtown FTW and wanted to see if you guys could help out in any way. I have a detailed list that I will post but it pretty much matches what has already been ideietied on this site. Does anyone have a detailed list that I can review? Addtionaly, has anyone heard new about the new student apts going up at W Berry St? Thanks and great knowledge by all.

JPI-ING

[JPI-ING]

Thanks for the help! This is a list that I found under a topic from June. Does anyone have additional data? Just to give some backgound, I am currently working on the MW deal with Webber.

Under Construction

The Tower-315 condos-37 floors
714 Main(TLB conversion)-70 condos-24 floors
T&P Terminal conversion-220 units (130 in terminal, 90 in 4 story bldg)-~11 floors
The Versailles-7 condos-3 floors*
Bluff Street Lofts-4 condos-3 floors*
Cotton Depot Lofts-199 apartments-multiple buildings, probably no more than 3-4 floors apiece*
Are the Flatiron Apts. still u/c?

Planned/Approved

The Ruins at Peach St.-49 condos-23 floors*
Tandy Center Conversion-350 condos-20 floors
Neil P. Anderson conversion-70 condos-11 floors
Houston Place Lofts-29 condos-8 floors
Kress Building conversion-~24 units-5 floors
Le Bijou-15 units-3-4 floors*
Trinity Bluffs-1,500 units-multiple buildings of unknown height, 3 story townhouses*
Cummings Place-unknown-unknown*
Old Town Sqaure-unknown-unknown*
Heritage Park Center & Condos-unknown-unknown*


* denotes new construction

[mosteijn]

Greg, didn't they say they were going to start construction in December? Given that timeframe, I doubt they'll actually start work until about February. Still, it's a very exciting development.

Welcome to the forum, JPI-ING! I made that list a while ago...haven't really updated it recently; as you can see, I have the wrong number of units for "Neil P". Feel free to add! We'd all appreciate any additional info you may have.

So, you're working on the Wards project, are you? You're bound to be an instant favorite...

[John T Roberts]

Welcome to the forum, JPI-ING. I saw your thread earlier today, but I didn't read carefully enough to catch that you are working on the Ward's project.

[redhead]

Pecan Place condos are available---9 units, five sold. Neil P and Kress should move to under construction. Also in the planning stage are 26 townhomes at 1st and Pecan, I think tentatively named the Townhomes at Pecan Place.
You left out So7 and you can break up the Trinity Bluff project: stage one is an LPC deal with approx. 300 units of market rate apts.
FYI, we hope that you guys do the MW deal---it would be a great addition to the Cultural District!!!

[mosteijn]

Pecan Place condos are available---9 units, five sold.  Neil P and Kress should move to under construction. Also in the planning stage are 26 townhomes at 1st and Pecan, I think tentatively named the Townhomes at Pecan Place.
You left out So7 and you can break up the Trinity Bluff project: stage one is an LPC deal with approx. 300 units of market rate apts.
FYI, we hope that you guys do the MW deal---it would be a great addition to the Cultural District!!!

Wow, Kress is under construction? And when exactly are the first Trinity Bluff apts. supposed to start construction (or have they already begun site prep or something and I totally missed it)?

Oh yeah, and you seem to be pretty up on Tom Struhs development, redhead, so could you by any chance shed some light on the project he has alluded to on his website (last 3 in the planned list)? Old Town Square sounds intriguing...

[JPI-ING]

Thanks for all the help! I am currently putting together a pipeline report together and will post it upon completion. I want to say thanks to everyone that has helped out and I am very impressed by everyone’s knowledge of the Ft.Worth market. I should say that the company I work for (not me alone) is currently working with Webber to develop rentable lofts at the MW site. I got to tour it about two months ago and it was great! The top floor was still in shambles from the tornado but there has been a lot of work to the ground levels.

[JPI-ING]

Here is a summarized version of what I have so far. If anyone could give me some insight on the properties that I have marked N/A I would be appreciate it. Please note that I am only trying to track downtown loft/apt/condo products. I will be in FTW tomorrow touring / driving these sites.

UC Units
The Tower 315
Main Street Lofts (TLB) 176
T&P Terminal 220
Cotton Depot Lofts 200
Flatiron Apts N/A
TCU Apts 500 (Beds)
Kress Conversion 24
Neil P 60
Pecan Place 9
Total 1004

Planned Approved Units
The Ruins @ Peach St 49
Tandy Center Conversion 350
Le Bijou 15
Trinity Bluffs 300
Cummings Place N/A
Old Town Square N/A
Heritage Park Center N/A
Total 714

[redhead]

Johnny, I pride myself in knowing a lot about a lot...you may also recall I hinted about the DR Horton move before it was public knowlege as well. I also know that the fine folks at the Neil P. are also changing their plans as the demand has been far greater for two bedroom units than they originally thought. The unit count will sink below 60, but I don't know how much.

As for the TB progress, I know that the CFAs have gone through the city and a contractor has been hired to re-do the infrastructure. There was a meeting of the Samuels Ave. homeowners (two weekends ago) and Mr. Struhs explained how the Samuels' street improvements would be phased so the road would continue to be passable. He also showed a revised land plan that is much denser than what he originally proposed. The new plan includes 5 or 6 towers over podium style retail/office at street level. It more resembles a West Village-style proposal than the first land plan he showed to the powers that be.

If the construction goes according to the schedule he laid out at the meeting, the roads should be replaced by late spring, at which point Lincoln can began construction. Hopefully we will see dirt starting to turn along Samuels soon!

As for our friend at JPI, the numbers you have are very close. You did omit Hillside apartments, 30% of which are held out below market rent. I do not recall how many units are there, however. I don't know how far out you want to go as I would not count the TCU beds in a downtown mix. If you think that they should be included, then you may also want to look at what is on the drawing board in Fort Worth South.

[JPI-ING]

Thanks for the reply Readhead, you sure do seem to have the inside track. I am also looking at the Downtown Dallas market for future development along with the FTW market separately from JPI so I don’t want you all to think I am using this info / your insight for corporate gain even though it is beneficial for the MW site.

[John T Roberts]

Redhead, the Kress project sure doesn't look like any construction work is going on inside the building. They must be doing only a minimal amout of work at the current time.

You mentioned that you hinted about it. I knew about it, but couldn't say anything because our firm designed the project. At one time, I was the only person in the office not working on it, now because construction is finishing up, only one person in our office is finishing up Horton's space.

[John T Roberts]

The latest information that I have:

Tranport Life Building/Main Street Lofts/714 Main - 65 apartments
Kress Building - 24 apartments
Cotton Depot - 210 apartments
Le Bijou - 15 townhome condos
The Ruins - 49 condominiums
Versailles - 7 condominiums
Bluff Street - 4 condominiums
Tandy Center - 334 condominiums
T&P Terminal - 238 apartments

[mosteijn]

I wish more developers would build 200+ unit projects. You'd think that judging by the success of the Tower we'd be seeing a lot more actual highrise proposals by now...

[JPI-ING]

Went over to Ft.Worth on Friday and it does look like they are doing some work to the Kress building. I will post pics from my day trip sometime this week. Thanks for all your help guys/girls!

[mosteijn]

A little blurb about Cotton Depot in the ST:

Residential

What: Cotton Depot Lofts, an urban infill residential project with 210 units.

Who: Carleton Residential of Dallas headed by Printice Gary is developer and contractor.

Where: On 5.8 acres at 701 E. First St., downtown Fort Worth.

How: Financed by Bank of America.

When: Scheduled for completion in June. The freight master building, which dates to 1914, and will serve as the project's club and office facility, will be completed by first quarter of 2005.