Moving On Up – High-Rise Condominiums In Houston

November 20, 2009

By system

The Houston real estate market offers an extensive and diverse selection of high-rise, mid-rise and loft projects. Most of these buildings are concentrated in the Downtown or Galleria areas of Houston, but a few projects can be found in more suburban locations as well as on Galveston Island.

High-rise buildings are defined as residential condominium projects, 9 stories or taller. These buildings offer a wide range of services and amenities. Most include a swimming pool, exercise room and party room area. More expensive projects usually offer 24-hour concierge services, valet parking, porter service, elaborate exercise facilities, elegant party rooms, additional storage spaces and lushly landscaped grounds. These buildings provide 4-star hotel luxury for their residents. Owners pay substantial maintenance fees to achieve this pampered lifestyle, believing the benefits are well worth the expense.

Newer projects frequently offer additional amenities which may include conference rooms, business centers, wine rooms, DVD and Blu-ray theaters, gymnasium quality workout facilities, a communal gourmet kitchen, cigar rooms, spas and more. Most of these facilities are installed by the developers to attract buyers and receive little actual usage. The advantage to residents is that they are rarely occupied.

Older buildings, built in the 1980’s and earlier, tend to have a different emphasis in their amenities, reflecting the priorities of their day. Many older buildings offer tennis courts, saunas, spacious grounds and formal common rooms. Some older buildings still offer guest suites, while residents at other projects have converted these spaces to efficiency apartments or common space. Nearly all of the older buildings have been upgraded for cable television and high-speed Internet access.

Most buildings have on-site management and staff most of the day, including a concierge at the front desk. The level of security varies significantly between buildings. Some lower level buildings rely on locked doors and security cards for admittance. Nearly all buildings employ limited access measures to secure their parking garages. Top tier buildings employ 24-hour security, closed-circuit cameras and well-trained staff to monitor all entrances. The desk staff working at high-end buildings are trained to recognize all residents and greet them by name. Quite an impressive feat in a 40-story tower!

Some newer buildings have gone with a lower service model to reduce their monthly maintenance fees. They employ fewer staff members and usually don’t offer valet or porter services. Some have utilized new technology to increase security and reduce staff. Finger print scanners, security cards and remote controls are used to limit access to the building, replacing costly desk staff. Since these buildings are new or recent construction, they also have fewer repair requirements and updating to do. This keeps costs to a minimum. As a building ages, the fees will rise as renovations and repairs become necessary.

Houston has seen a number of high-rise projects switch from rental projects to privately owned condominiums, and vice versa. During tough economic times, when high-rise sales stagnate, developers may convert the project to rental units. During periods of economic growth, properties that were originally planned or recently built for rentals, are often converted into condominiums. Older projects often undergo extensive renovation and improvement to increase their saleability.

Mid-rise buildings are defined as having 4-8 stories and tend to offer fewer amenities and services. The unit finish-out is traditional, with drywall on walls and ceilings. Common areas are tasteful and well-kept, but not elaborate. These projects offer many of the location, security and one-level convenience benefits of a high-rise, but at a lower price point.

Loft projects include historic buildings that have been converted into residential use, along with new or recent construction with “loft” style finish-out. Lofts tend to offer open spaces with less room separation. More traditional buyers may object to the lack of defined rooms in loft units. Stained concrete floors, exposed air ducts and wiring conduits, along with bare concrete ceilings, are defining style elements. Exposed brick is a sought after feature in historic loft conversion projects. In many of the newer loft buildings, buyers are offered the option of “soft loft” finishes, such as sheet-rocked ceilings, painted duct work, and wood floors.

Windows are frequently dramatic, offering an impressive two-story expanse of glass in living areas, while secondary bedrooms and kitchens are often windowless. This gives some loft units a “cave-like” feel that buyers may find objectionable. The two-story design of many loft apartments is often unsuitable for buyers with limited mobility, since staircases are generally steep and open in construction.

Historic loft projects are usually found in upcoming, urban transitional areas more appealing to younger professionals, while newer loft projects are generally built in trendy or well-established neighborhoods to attract more upscale buyers.

Traditionally, Houston high-rise buildings have attracted an older clientèle, willing to pay for a high level of services in exchange for a simplified lifestyle. No home to paint, roof to replace, pool to maintain or lawn to landscape. In the last fifteen to twenty years, active professionals, middle-aged and younger, have been drawn to high-rise by the allure of a “lock and go” living. At some buildings, residents can even make private arrangements with staff for services like plant watering and pet care while they are traveling.

This has led to a shift in the demographic for many buildings and a resurgence in high-rise and mid-rise construction. No longer the exclusive stomping grounds of retirees, these buildings offer an attractive option for buyers of all ages who work long hours or travel extensively and need a low maintenance place to call home. From a funky downtown lofts to elegant full-service high-rises, the Houston market offers the full range of options for anyone seeking a less complicated way of life.

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