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    Montrose Renters Forced Out

    Residents of three Montrose apartment complexes are being forced out for a new upscale development

    Elizabeth Rhodes
    Aug 2, 2014 | 12:02 pm

    In light of the burgeoning demand for new upscale Inner Loop apartments, the tenants of three adjacent two-story apartment complexes in the Winlow Place area of Montrose have been asked to vacate by the end of this month.

     

    The aging apartment complexes, constructed in the 1950s and '60s, are located at 1920 West Alabama Street, 2810 McDuffie and 1924 Marshall and were sold by Prestige Holdings this spring. The new owner, City Centre at Midtown, LLC, is managed by Ruslan Krivoruchko, who also manages Dolce Living Investments, LLC.

     

    Dolce Living, known for building upscale apartment homes in suburban areas across Texas and Florida, is already in the process of constructing its first Inner Loop development, a five-story, 176,344-square-foot mixed-use apartment complex located in the Fourth Ward on West Gray at Bailey Street.

     

     

      Aging complexes — which generally offer much lower rent than their new counterparts — are being demolished, leaving lower-income residents with fewer housing options. 

     
     

    The three Montrose apartment complexes comprise a total of 73 apartments and sit on 1.58 acres of land at West Alabama (between Hazard and Huldy Street) and McDuffie.

     

    Notices for abandonment, sent to residents by the property manager, said that City Centre at Midtown is planning to demolish the complexes in September and that new apartments will be constructed on the site. The notice also informs residents they must vacate their apartments by Aug. 31 and offers prorated rent for August, according to Swamplot. Residents at the Montrose apartment complexes are varied, with occupants ranging from students to retirees.

     

    "The entire apartment market is hot, and it's been hot for several years now because of the job growth driven by the oil industry," Bruce McClenny, president of Apartment Data Services Inc., a local multifamily research firm, tells the Houston Business Journal. "With a lot of people coming to town, there's tremendous demand for housing."

     

    From the Heights area to Montrose and Midtown, the high demand for new garden-style, mid-rise and high-rise apartment complexes inside the Loop means aging complexes — which generally offer much lower rent than their new counterparts — are being demolished, leaving lower-income residents with fewer housing options.

    The apartments at 1920 West Alabama, as well as complexes at 2810 McDuffie and 1924 Marshall, are to be demolished to make way for upscale apartments.

    1920 West Alabama apartments
      
    Prestige Holdings
    The apartments at 1920 West Alabama, as well as complexes at 2810 McDuffie and 1924 Marshall, are to be demolished to make way for upscale apartments.
    unspecified
    news/real-estate

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    A brand new report from Homes.com, which tracks hundreds of thousands of transactions to identify real-time housing trends, might mean great news for Houston home buyers.

    Houston home prices posted their third consecutive monthly year-over-year decline in June. The median home price in the Houston metropolitan area fell from $349,000 in June 2024 to $347,970 in June 2025, a 0.3 percent decline. The numbers represent sales of single-family homes, townhomes, and condominiums throughout the metro area.

    Looking a bit deeper, the report indicates that condos and townhomes are seeing prices fall the fastest. In June, the median detached-family home sold for $278,204, and the median condo sold for $160,000. That’s a 3.9 percent dip for both from a year ago. Meanwhile detached single-family home prices saw the smallest price decline, selling at $350,000, which is 0.8 percent less than a year ago.

    The website Homes.com quotes local realtors noting that this is likely due to oversupply as well as rising HOA fees in these segments.

    But all of it taken together means the scene could be shifting to a buyers’ market.

    “Active listings are above pre-pandemic levels,” according to Itziar Aguirre, senior director of market analytics for CoStar and Homes.com. “Houses are staying on the market longer, and price cuts are becoming more common so that sellers can remain competitive, which is a good thing for potential homebuyers. With slightly lower prices and more houses to choose from, it is starting to feel like a buyer’s market.”

    The report goes on to explain that housing construction in Houston surged coming out of the pandemic due to strong demand and population growth in the region. Developers may have overbuilt, particularly in the condo market and townhomes. Now, prices are falling the fastest in those two segments.

    Also, there is likely a bit of a market correction going on since Houston saw a significant price appreciation from 2020-2022.

    Condos and townhomes are often entry-level options for first-time buyers and high mortgage rates have impacted these buyers’ purchasing power. HOA fees have also increased, as have insurance premiums in the last few years, due to increased risk of flooding and hurricanes in Houston as well as higher repair costs due to inflation.

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