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Somerset Green

4,389 Views | 54 Replies | Last: 6 yr ago by Satellite of Love
AgRebel08
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AG
Anyone heard of this, x-posted in real-estate. Looking to build and wanted thoughts.

[url=http://www.somersetgreenhouston.com/][/url]http://www.somersetgreenhouston.com/
Al Bula
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Yep. Gaudy European trash with retention "canals."
Ag_07
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How come on the Area Amenities page they don't mention Northwest Mall?
Bjwink
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As a realtor, I've had good experiences working with Coventry Homes, which builds in the neighborhood, but not heard spectacular reviews on SG itself
AgRebel08
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Coventry was great but they didn't quite have the fit for us. We are leaning Toll just because of the lot and floor plan. Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.
Liquid Wrench
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Ag_07 said:

How come on the Area Amenities page they don't mention Northwest Mall?
Or proximity to granite yards, and a place that used to be a Prince's.
YellAg2004
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AgRebel08 said:

Coventry was great but they didn't quite have the fit for us. We are leaning Toll just because of the lot and floor plan. Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.
Not sure of their exact construction methods (drilled vs. press pilings), but they essentially construct your slab with shafts under the grade beams, very similar to what is done when you have your foundation leveled. Only in this case, the "fix" is built in so in theory you shouldn't have any foundation issues in the future.
rilloaggie
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AgRebel08 said:


Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.


Both builders are going to be using an engineering firm to design the foundations so they'd be protected from liability either way. Probably not a big difference on the foundations of either, Coventry is just doing a better job of selling theirs.
88jrt06
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That's a Gerald Hines project.
The overall quality will be outstanding.
My concern is that buildout will take many years due to the slowdown. I'd fence/ mothball about 50% of the remaining raw land to leave more of a "dense" effect at this point. I've walked some models and was impressed. Hines could have attracted any reputable builder, and the three involved
are top-notch IMO.

The neighborhood is fine for lock/leave target buyers. The
canals, bridges, and water features....well, that's kind of subjective, no? With mature landscaping, it might look awesome. Now? Um. Uhh...

I'm on the commercial side and have worked with the Hines
Team dozens of times. Best in the bidness, IMO. Given their international rep, could be numerous foreign buyers.
Never bet against H-town's greatest developer! I'll be tracking it, personally, as a lock/leave guy.
MAS444
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Do you happen to know cash mcmogulson?
kubiak03
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I hope they cleaned up/tested the soil as that area was fairly filled with heavy industry throughout the years.

Ag_07
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Wouldn't be this far along if they hadn't. That happens before they even buy the property.
bigjag19
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MAS444 said:

Do you happen to know cash mcmogulson?


He's the greatest.
archangelus2
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What does lock/leave mean?
MAS444
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He only does big deals, of course.
gindaloon
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On another thread someone commented that they think 88jrt06 has suffered a recent concussion and/or has early onset of dementia.

May be something to that observation as most of his posts are complete gibberish littered with poor spelling and grammar as well as an excessive use of ellipses incorrectly.
88jrt06
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archangelus2 said:

What does lock/leave mean?
You travel, so don't want a yard and a bunch of pre-prep.
Decide to go, lock-up, and leave.
Probably first heard it in the 1990s. Convenience.
MAS444
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Are any homes built/listed yet?
redag06
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Yes, they are actually already starting development for their 6th section.
88jrt06
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MAS444 said:

Do you happen to know cash mcmogulson?
No. Do you think working with Gerald Hines Interests is particularly unusual? Dozens of companies do so in Houston, alone. Do you think they DON'T have the distinction as Houston's premier development firm?
Do you think following the development of Somerset Green over the past couple years is difficult?
88jrt06
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MAS444 said:

Are any homes built/listed yet?
The deals are too big for you.
MAS444
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No doubt. It's just sort of my dream to one day be able to live in a 4 story home overlooking gardens and canals.
Milwaukees Best Light
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Did this turn into some sort of homebuilder/develper sissy fight?
redag06
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Surrounded by railroad tracks, 24 hour beer distributor, and car dealerships, TAKE MY MONEY!
AgRebel08
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As expected no real comments but a few.

Thoughts on re-sale and value? Someone said they thought that it would not appraise and that it was expensive. I think the location is a steal and wont lose value. They have already about 30 houses up and 30 in progress maybe a 100 sold.

AgRebel08
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What does that mean, I would sue the engineers if the foundation was terrible?

rilloaggie said:

AgRebel08 said:


Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.


Both builders are going to be using an engineering firm to design the foundations so they'd be protected from liability either way. Probably not a big difference on the foundations of either, Coventry is just doing a better job of selling theirs.
NoahAg
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AgRebel08 said:

As expected no real comments but a few.

Thoughts on re-sale and value? Someone said they thought that it would not appraise and that it was expensive. I think the location is a steal and wont lose value. They have already about 30 houses up and 30 in progress maybe a 100 sold.


I didn't see any home prices, but between location, an elite developer, and 2 premium, solid builders (I don't know anything about Pelican), I think your value and resale are as stable as you could assume for any other neighborhood.
Alex Bregman
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In my opinion, the area around it will continue to appreciate. Lots of stuff ripe for redevelopment.

Things that I would be concerned about build-out time for the whole development and the price range. Looks like everything is >600k with some approaching 800k. That's in the ballpark of some new builds in Timbergrove down the street.
AgRebel08
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NoahAg said:

AgRebel08 said:

As expected no real comments but a few.

Thoughts on re-sale and value? Someone said they thought that it would not appraise and that it was expensive. I think the location is a steal and wont lose value. They have already about 30 houses up and 30 in progress maybe a 100 sold.


I didn't see any home prices, but between location, an elite developer, and 2 premium, solid builders (I don't know anything about Pelican), I think your value and resale are as stable as you could assume for any other neighborhood.
So the prices start at $515K for the cheapest and go up to $1MM. The $1MM are "waterfront" lot premiums. which are like $50K -$150K.

I would say the avg price looks to be around $650K.

David Weekly has a development behind this and they are priced $350 -$475K ( I would have to look at price per sq ft as they are smaller).

Really like this development but just wasn't sure about everything.
AgRebel08
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Jock09 said:

In my opinion, the area around it will continue to appreciate. Lots of stuff ripe for redevelopment.

Things that I would be concerned about build-out time for the whole development and the price range. Looks like everything is >600k with some approaching 800k. That's in the ballpark of some new builds in Timbergrove down the street.
Isn't Timbergrove the place everyone says is getto? I am not at all familiar with this area. The developer told us they were making a sky bridge to Memorial park over I-10, I cant imagine that happening so not sure what to believe.
Diggity
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AgRebel08 said:

Jock09 said:

In my opinion, the area around it will continue to appreciate. Lots of stuff ripe for redevelopment.

Things that I would be concerned about build-out time for the whole development and the price range. Looks like everything is >600k with some approaching 800k. That's in the ballpark of some new builds in Timbergrove down the street.
Isn't Timbergrove the place everyone says is getto?
Not ghetto at all. The area where Somerset is being built was pretty industrial and is surrounded by that now. Will likely change in the future, but not right away.
Ag_07
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AgRebel08 said:


Isn't Timbergrove the place everyone says is getto?

By everyone do you mean the developer?
Alex Bregman
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Timbergrove is single family homes near this site. Originally built in the 50s and 60s. My point was some of the custom builds on these single family lots are almost the same price as the town homes in Somerset Green. So these town homes are definitely on the high-end price range for everything around it.
rilloaggie
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AgRebel08 said:

What does that mean, I would sue the engineers if the foundation was terrible?

rilloaggie said:

AgRebel08 said:


Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.


Both builders are going to be using an engineering firm to design the foundations so they'd be protected from liability either way. Probably not a big difference on the foundations of either, Coventry is just doing a better job of selling theirs.



Probably poorly worded on my part. Builders hire engineers to 1, make sure foundations are designed correctly and that there won't be problems, and 2, so that if there are problems and the builder gets sued, the liability falls on the engineering firm to make things right. Clear as mud?
AgRebel08
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Ag_07 said:

AgRebel08 said:


Isn't Timbergrove the place everyone says is getto?

By everyone do you mean the developer?
I guess I was thinking of that thread about the facebook group, was it for Timbergrove or something?
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