A Montrose Boulevard highrise that formerly housed Scott Gertner's SkyBar could soon be demolished for luxury apartments. Houston-based development company Hanover Co., known for building luxury high-rises across the country, currently has the 3400 Montrose site under contract, according to a report in the Houston Business Journal.
More Montrose developement
Luxury apartments likely to replace Montrose highrise in prime location
Luxury apartments likely to replace Montrose highrise in prime locale
The 10-story, 96,849-square-foot building has been vacant since 2010 when SkyBar and other tenants moved out. Longtime Montrose residents may also remember the location as it housed Cody's, a rooftop jazz bar that occupied the space in the 1980s.
Hanover has recently built upscale mid-rise apartment complexes in Rice Village and on West Gray at Waugh. The company plans to break round in early 2014 on construction of a 29-story luxury apartment tower in the Galleria area at San Felipe and Post Oak Blvd. The tower, dubbed Hanover Post Oak, will sit on 1.2 acres of the 21-acre mixed-use development site of Wulfe & Co.'s BLVD Place, which will include a Whole Foods Market, restaurants, shops, and office space.
The 3400 Montrose property, with an estimated value of $1.9 million, seems ripe to be redeveloped into luxury apartments in the prime location at Hawthorne street. Asbestos removal and demolition of the highrise could add another $1 million before construction could take place. Hanover Co. representatives did not immediately return phone calls about the development.
"I would expect a major component of the project will be luxury apartments," Ray Lawrence, director of economic development with the Montrose District, told HBJ. "It’s an older building, and I understand that it does have asbestos that would have to be abated. It’s really an obsolete building; there’s no way they could remodel."