Back in October, I observed that there was some ground-leveling going on at the old Ed Sacks Waste Paper site on Montrose/Studemont just north of Allen Parkway/Memorial. I thought it meant construction would start real soon. I suppose that's true, if three months later is still considered "soon". Here's what's been going on since roughly mid-January:
Legacy Partners Residential Development Inc. and equity partner CalPERS have cleared the site and are preparing to break ground on their 330-unit Legacy at Memorial. The project, which will exceed $75 million of all-in costs, has 15% of the apartments dedicated for affordable housing.
Legacy at Memorial will have a three-bedroom penthouse, totaling 3,568 sf, and the balance will be one- and two-bedroom units, starting at 868 sf. Projected rents are $1.26 per sf to $2.20 per sf.
The grand opening is slated for November of 2009. That's a lot of units in an area that's already pretty dense. I foresee traffic on that stretch of Studemont/Montrose getting quite a bit worse, and now I'm really worried that there will be another stoplight put in at the shared entrance point for Legacy/Memorial Heights, and the Park at Memorial on the other side of Montrose. When is that future rail extension down Washington Avenue supposed to get built again?
Please note, just so we're all clear here, I'm not arguing for an Ashby Highrise-style traffic ordinance here. This is a perfectly fine location for a highrise, and besides I want to see a comprehensive review of how we regulate and approve construction projects, not a case-by-case review. I'm just amazed at how dense the less-than-a-mile stretch of Montrose from West Gray to Washington has become and is still becoming, and I am concerned as someone who drives that way a lot what effect it will ultimately have on traffic. This area has undergone a massive, dramatic change in the last ten years. Who knows what the next ten will bring?Posted by Charles Kuffner on February 03, 2008 to Elsewhere in Houston