DOCSLIB.ORG

Situated in the Epicenter of the Economic Boom on the Texas Gulf Coast

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Situated in the Epicenter of the Economic Boom on the Texas Gulf Coast Situated in the Epicenter of the Economic Boom on the Texas Gulf Coast Located near the Houston Ship Channel and Trinity Bay with Excellent Access to the Port of Houston Opportunity to Acquire the Newly Renovated, Verve Apartments 56 Unit Class B+ Multi- in a Prime Baytown Location! Family Asset KET Enterprises Incorporated I 1770 St. James Place, Suite 382 I Houston, TX 77056 I 713.355.4646 I www.ketent.com THE VERVE 3201 GARTH RD BAYTOWN, TX 77521 The Verve • 3201 Garth Road • Baytown, TX 77521 Asking Price $4,200,000 Units: 56 Price Per Unit $75,000 Avg Size: 827 Price Per Sq. Ft. $90.66 Date Built: 1963 Terms ASSUMPTION Rentable Sq. Ft.: 46,328 Acreage: 2.43 Occupancy: 77% Class: B++ INVESTMENT HIGHLIGHTS ► Blue/White Collar Profile ► Brick and Stucco Construction ► There is Tremendous Economic Growth in Baytown ► Exterior Renovations Completed - $1.36M ► Interior Renovations Completed - $700K ► Excellent School District - This is a Strong Plus! ► Ideal for Long Term Cash Flow! ► Rents are Rising! ► The Houston Ship Channel is Expanding ► The Ship Channel Will Add Approximately 100,000 jobs! ► Property Did NOT Flood During Hurricane Harvey ► Available On An Assumption Basis Only PLEASE CALL FOR MORE DETAILS: TOM WILKINSON Broker/Vice President [email protected] 713-355-4646 ext 102 KET Enterprises Incorporated I 1770 St. James Place, Suite 3802 I Houston, TX 77056 I 713.355.4646 I www.ketent.com The Verve • 3201 Garth Road • Baytown, TX 77521 Physical Information Financial Information Existing Loan Parameters Operating Information Number of Units 56Asking Price $4,200,000 Mortgage Balance $3,515,000Est Mkt Rent (Apr-21) $52,696 Avg Unit Size 756Price Per Unit $75,000Amortization (months) 360 12 Mo Avg $47,828 Net Rentable Area 46,328Price Per Sq. Ft. $90.66 Debt Service $223,860 Physical Occ (Apr-21) 77% Land Area (Acres) 2.43Stabilized NOI $295,671 P & I $18,655 Est Ins per Unit per Yr $434 Units per Acre 23.041 Stabilized Value Capped @ 5.5% $5,375,830 Interest Rate 4.90% Property Tax Information Date Built 1963 Est Rehab/Upgrade @ $/unit $0 Date Due Sept 2024 2020 Tax Rate/$100 2.97054 Water Meter / Master RUBS Est. Entrepreneurial Profit $0 Est Res for Repl/Unit/Yr $300 2020 Tax Assessment $4,708,337 Elec Meter RUBS Est. Carry to Stabilization $0 Yield Maintenance Yes 2020 Est Taxes $139,863 Roof Style Pitched Calculation of Value $5,375,830 Est Future Tax Assessment $2,940,000 A/C Type: HVAC-Indiv Est Future Taxes $87,334 Property Tax Assessment Under Protest! INCOME MODIFIED ACTUALS PRO-FORMA PRO-FORMA INCOME Current Street Rent with a % Increase 632,352 $52,696 / Mo Estimated Gross Scheduled Income 632,352 $52,696 / Mo Estimated Loss to Lease (3% of Total Street Rent) (1,500) 3% Estimated Vacancy (7% of Total Street Rent) (44,265) 7% Estimated Concessions and Other Rental Losses (4% of Total Street Rent) (25,294) 4% Estimated Utilities Income 63,408 $1,132 / Unit / Yr Estimated Other Income 28,644 $512 / Unit / Yr Estimated Total Rental Income 653,345 ESTIMATED TOTAL PRO-FORMA INCOME 653,345 $54,445 / Mo April 2021 Income Annualized $573,933 EXPENSE Apr 2021 YTD Expenses Estimated Expenses Fixed Expenses Fixed Expenses Estimated Fixed Expenses Taxes $141,396 $2,525 per Unit 4/21 operating statement $87,334 $1,560 per Unit 2020 Tax Rate & Future Assessment Insurance $24,294 $434 per Unit $24,294 $434 per Unit Estimated Total Fixed Expense 165,690$2,959 per Unit 111,628 $1,993 per Unit Utilities Utilities Estimated Utilities Electricity $36,045 $644 per Unit $36,045 $644 per Unit Water & Sewer $45,462 $812 per UnitNeed Water Saving Devices $34,199 $611 per Unit Trash Removal $7,740 $138 per Unit $5,822 $104 per Unit Telephone $3,384 $60 per Unit $2,546 $45 per Unit Gas $9,030 $161 per Unit $9,030 $161 per Unit Utility Billing Fee $2,304 $41 per Unit $2,304 $41 per Unit Total Utilities 103,965 $1,857 per Unit89,946 $1,606 per Unit Other Expenses Other Expenses Estimated Other Expenses General & Admin & Marketing $12,027 $215 per Unit $19,600 $350 per Unit Repairs & Maintenance $25,389 $453 per Unit $22,400 $400 per Unit Labor Costs $79,284 $1,416 per UnitVery High $72,800 $1,300 per Unit Contract Services $0 $ per Unit $0 $ per Unit Management Fees $19,2003.35% $343 per Unit $24,500 3.75% $438 per Unit Total Other Expense 135,900$2,427 per Unit 139,300 $2,488 per Unit Total Operating Expense 405,555$7,242 per Unit 340,875 $6,087 per Unit Reserve for Replacement 16,800$300 per Unit 16,800 $300 per Unit Total Expense 422,355$7,542 per Unit 357,675 $6,387 per Unit Net Operating Income (Actual Underwriting) 151,578 295,671 Asking Price 4,200,000 "As Is"4,200,000 "All In" Price Cap Rate 3.61% 7.04% Existing Debt 3,515,000 3,515,000 Equity 685,000 685,000 Estimated Debt Service 223,860 223,860 Cash Flow (72,282) 71,810 Cash on Cash -10.55% 10.48% NOTES: ACTUALS: Income and Expenses were calculated using owner's 4/21 operating statement. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using 2020 Tax Rate & Future Assessment. Insurance is estimated. Management Fees calculated as 3.8% of Gross Income, Other expenses are Estimated for the Pro Forma. DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change the price at anytime without notice during the marketing period. 5/10/2021 VerveBaytown The Verve • 3201 Garth Road • Baytown, TX 77521 2020 KET RENT COMPARABLE TAX ANALYSIS Property Address Yr Built Units Impr Sq.Ft. Impr Value Impr Value/Unit Impr Value/Sq.Ft. 1 Blue Bird 510 Williams 1965 67 52,967 $5,412,184 $80,779 $102.18 451440010004 2 Hunt Garden (HAP) 800 Hunt Rd 1984 100 75,480 $4,994,822 $49,948 $66.17 0591500190059 3 Providence at Baytown 1711 James Bowie 1969 184 159,971 $8,754,712 $47,580 $54.73 0410740020006 4 Bay Oaks 1700 Bob Smith 1978 146 67,924 $5,227,150 $35,802 $76.96 0450130020205 5 Cedar Ridge 2900 W Baker 1982 276 122,316 $7,260,000 $26,304 $59.35 0451440010004 The Verve 3201 Garth Road 1963 56 45,850 $4,708,337 $84,077 $102.69 Averages 1974 138 89,806 $6,059,534 $54,082 $77.01 The Verve • 3201 Garth Road • Baytown, TX 77521 Keymap: 501P Building Quality: B++ PROPERTY INFORMATION AMENITIES TAXING AUTHORITY - HARRIS COUNTY Age: 1963 Access Gates Park & Ride Nearby Mortgage Balance $3,515,000 ACCT NO: 0451440020135 Elec Meter: RUBS Cable Ready Walk-In Closets Amortization 30 yr Goose Creek ISD 1.341100 A/C Type: HVAC-Indiv Club House School Bus Pick-up P & I $18,655.04 Harris County 0.391160 Water: RUBS Laundry Rooms Shuttle Route Type Freddie Mac Harris County Flood Control 0.031420 Wiring: Copper? Mini Blinds Patios/Balconies Assumable Yes Port of Houston Authority 0.009910 Roof: Pitched Bookshelves Courtyards Monthly Escrow Harris County Hospital District 0.166710 Paving: Asphalt Outside Storage Origination Date 8/1/2019 Harris County Education Dept 0.004993 Materials: Brick/Stone Ceiling Fans Due Date Sept 2024 Lee Jr College 0.230100 # of Stories: 2 Interest Rate 4.90% City of Baytown 0.795150 Parking: 85 Spaces Prepayment Penalty 5%: 1% stepdown (5,4,3,2,1) HCAD NRA 45,850 Buildings: 5 Yield Maintenance 2020 Tax Rate/$100 $2.9705 Units/Acre: 23.22 *In Select Units Transfer Fee 1%+app+legal 2020 Tax Assessment $4,708,337 PROPERTY HIGHLIGHTS COLLECTIONS The Verve Apartments, is a two story, garden-style, apartment community located in the Baytown submarket, east of Houston. The asset was built in 1963 and per owner, was massively rehabbed in 2017. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets. Total$ 551,951 Lots of new refinery jobs in Baytown due to a heavy expansion in the plants. $14 billion alone is allocated for Exxon. Reportedly there are 14,000 new workers at Exxon alone. May 2020$ 39,390 3 Mo Avg$ 41,334 A Major Exterior and Interior Rehab was completed in 2017. The exterior rehab included the total June 2020$ 34,283 remodel, down to the studs, of the Leasing Office. In addition, Building 1 received a new roof, July 2020$ 49,478 solar screens were added to the property, new signage, major landscaping improvements as well Aug 2020$ 49,102 6 Mo Avg$ 46,000 as improvements to the plumbing, fencing, and parking lot improvements at a cost of Sept 2020$ 50,927 approximately $1.36 million.
Load more

Recommended publications
  • Houston Retail August 2016
    MARKET WATCH HOUSTON RETAIL AUGUST 2016 RECENT RETAIL LEASES RETAIL LEASE STATISTICS Baytown/Chambers :: Marshalls 23,000 SF new lease at Baytown Marketplace Overall Vacancy Rates Asking Rental Rates (NNN) Pasadena/Galena Park :: Boot Barn 11.0% $18.25 13,249 SF new lease at Federal East Plaza 10.0% $18.00 Pearland/Manvel :: Village Family Practice 8,763 SF new lease at Silverlake Plaza Shopping Center 9.0% $17.75 RECENT RETAIL SALES 8.0% $17.50 Copperfield :: West Junction Center 64,340 SF 7.0% $17.25 Buyer: Transnational Investments Seller: KBP Group III 6.0% $17.00 5.0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 $16.75 RETAIL IN THE NEWS 13 13 13 14 14 14 14 15 15 15 15 16 16 Paris gelato shop arrives in River Oaks District Source: CoStar - Houston retail buildings 5,000 SF and greater with French flair and rose-shaped cones link to story CultureMap Houston, August 23, 2016 Retail Sales Statistics HOUSTON MSA UNITED STATES SoulCycle’s second Houston studio sets opening QUARTER TO LAST QUARTER TRAILING 12 LAST QUARTER TRAILING 12 date DATE (Q2 2016) MONTHS (Q2 2016) MONTHS link to story Volume ($ $78.1 $357.1 $1,401.3 $17,774.7 $80,587.8 Houston Business Journal, August 19, 2016 Mil) No. of 14 30 149 1,404 6,856 Fast-growing pizza chain continues Houston Properties expansion Total SF 469,938 1,586,161 8,750,872 79,754,256 410,607,933 link to story Average N/A $185 $201 $232 $210 Houston Business Journal, August 16, 2016 Price/SF Average Cap N/A 7.8% 6.7% 6.4% 6.5% Rate (Yield) Source: Real Capital Analytics Retail Market Indicators DIRECT
    [Show full text]
  • Download Port
    Crystal Bay Marina South Old River Central Crystal Bay Cement Cemex Greens Bayou 1 & 2 Cement Old River South Crossover Central Goose Creek Cement Baytown Industrial Houston Cemex Buffalo Bayou Greens Bayou 1 & 2 Highlines Terminal Houston Bulk Fuel Oil 4 Cement Fred Hartman Bridge East and West Jacintoport 2 1 & Red Light Bend Terminal 3 5 3 3 Clearance 175 feet Turning Basin Greensport Terminal Kavanagh 4 Vulcan 2 8/9 Jacintoport 1 Crossover 5 2 Battleship 3+4 Inbesa 1 Texas East Industrial 3 2 Houston Public Wharves West 5 Morgan’s Point Crystal Bay Buffalo Bayou Terminal 7 8 4 4 Houston Bulk Scott Bay Fuel Oil (City Docks) Magellan 8 Cargill Vopak Highlines 9 East and West 1 Jacintoport 2 1 North Side Targa 3 Terminal 3 5 Hog Island 1 & 2 BP 7 3 3 Clearance 197 feet 8 thru 32 1-2-4-5Turning Basin Junkyard Greensport Terminal2 Kavanagh I.T.C. 4 6 Enterprise (4-8) 1 G+H Vulcan 2 1 2 Jacintoport 1 Crystal Bay Mooring8/9 1 3 5 Public Wharves Boat Dock Stolthaven (2-3) 5 2 BattleshipOld River 7 Crystal Bay 1 (City Docks) 2 4 6 3+4 Mooring South Inbesa Texas 4 North Chevron East Santa Anna 3 2 Westway 2 Public Wharves 2 3 8 West 5 Exxon Refinery South Side 9 Boat Dock Central 7 8 5 Agrifos Agrifos Phillips Terminal 5 Bayou 4 Scott Bay (City Docks) Cement Est. 1985 • ISO Certified Cargill 1 thru 4 Load Rock 1 Magellan 9 8 1 VopakCemex North Side Georgia Targa 1 & 2 Old River 3 1 & 2 South 7 Greens Bayou 6 Crystal Bay Port Public Wharves Central BP Old River 2 2 Cement Barbours Cut 8 thru 32 Gulf Dock 1-2-4-5 Junkyard 5 I.T.C.
    [Show full text]
  • Beach and Bay Access Guide
    Texas Beach & Bay Access Guide Second Edition Texas General Land Office Jerry Patterson, Commissioner The Texas Gulf Coast The Texas Gulf Coast consists of cordgrass marshes, which support a rich array of marine life and provide wintering grounds for birds, and scattered coastal tallgrass and mid-grass prairies. The annual rainfall for the Texas Coast ranges from 25 to 55 inches and supports morning glories, sea ox-eyes, and beach evening primroses. Click on a region of the Texas coast The Texas General Land Office makes no representations or warranties regarding the accuracy or completeness of the information depicted on these maps, or the data from which it was produced. These maps are NOT suitable for navigational purposes and do not purport to depict or establish boundaries between private and public land. Contents I. Introduction 1 II. How to Use This Guide 3 III. Beach and Bay Public Access Sites A. Southeast Texas 7 (Jefferson and Orange Counties) 1. Map 2. Area information 3. Activities/Facilities B. Houston-Galveston (Brazoria, Chambers, Galveston, Harris, and Matagorda Counties) 21 1. Map 2. Area Information 3. Activities/Facilities C. Golden Crescent (Calhoun, Jackson and Victoria Counties) 1. Map 79 2. Area Information 3. Activities/Facilities D. Coastal Bend (Aransas, Kenedy, Kleberg, Nueces, Refugio and San Patricio Counties) 1. Map 96 2. Area Information 3. Activities/Facilities E. Lower Rio Grande Valley (Cameron and Willacy Counties) 1. Map 2. Area Information 128 3. Activities/Facilities IV. National Wildlife Refuges V. Wildlife Management Areas VI. Chambers of Commerce and Visitor Centers 139 143 147 Introduction It’s no wonder that coastal communities are the most densely populated and fastest growing areas in the country.
    [Show full text]
  • Reinvestment Zone Number One City of Baytown, Texas
    REINVESTMENT ZONE NUMBER ONE CITY OF BAYTOWN, TEXAS RESTATED AND SIXTH AMENDED PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN February 17, 2017 REINVESTMENT ZONE NUMBER ONE, CITY OF BAYTOWN, TEXAS Restated and Sixth Amended Project Plan and Reinvestment Zone Financing Plan Table of Contents Introduction ..................................................................................................................................... 3 History of Redevelopment Efforts in the Zone ................................................................................ 4 Redevelopment Plan Concept and Goals ........................................................................................ 4 Project Plan...................................................................................................................................... 5 Reinvestment Zone Finance Plan .................................................................................................... 7 Exhibit 1 – Projected Assessed Valuations and Projected Zone Revenues Exhibit 2 – Boundary Description of Zone Exhibit 3 – County Participation Exhibit 4 – Economic Feasibility Study Map 1 – Boundary Map Map 2 – Aerial View of Property in and surrounding the Zone Map 3 ‐ Existing Land Use/Property Classification of Property in the Zone Map 4 ‐ Projects ‐2‐ Introduction The Reinvestment Zone Number One, City of Baytown, Texas (“Zone”), was created by the City Council of the City of Baytown, Texas (“City”) on August 9, 2001 by Ordinance No. 9197. City Council subsequently
    [Show full text]
  • Baytown Mobility Plan ACKNOWLEDGEMENTS
    BAYTOWN MOBILITY PLAN u Adopted January 24, 2013 City of Baytown Baytown Mobility Plan ACKNOWLEDGEMENTS City Council – Mayor, Stephen H. DonCarlos 2011 Members District 1 – Mercedes Renteria III Barry Bobbitt District 2 – Scott Sheley Brandon Benoit District 3 – Brandon Capetillo Gil Chambers District 4 – Terry Sain Dr. Joe C. Floyd District 5 – Robert C. Hoskins Jim Hutchison District 6 – David McCartney Mary Flores Planning & Zoning Commission Rolando Valdez Tracey Wheeler 2012 Members Spencer Carnes Brandon Benoit City Staff R.D. Burnside Administration Spencer Carnes Bob Leiper, City Manager Gilbert Chambers Ron Bottoms, Deputy City Manager James E. “Bo” Cox Kevin Troller, Assistant City Manager Lisa D. Clary Dr. Joe C. Floyd Planning & Development Services Kelly Carpenter, AICP, Director of Planning and Development Shawn McDonald Services Tracey Wheeler Tiffany Foster, AICP, Assistant Director Andrew Allemand, AICP, Development Review Manager Page – i City of Baytown Baytown Mobility Plan TABLE OF CONTENTS ACKNOWLEDGEMENTS ............................................................................ i 6.5 Conclusions ............................................................................... 6-10 LIST OF ACRONYMS ............................................................................... iv CHAPTER 7. MULTI-MODAL ASSESSMENT ............................................. 7-1 CHAPTER 1. INTRODUCTION ................................................................ 1-1 7.1 Introduction ...............................................................................
    [Show full text]
  • Panera Bread (Houston MSA) 6439 Garth Road Baytown, Texas 77521 Panera Bread | Baytown, TX Table of Contents
    Net Lease Investment Offering Panera Bread (Houston MSA) 6439 Garth Road Baytown, Texas 77521 Panera Bread | Baytown, TX Table of Contents TABLE OF CONTENTS Offering Summary Executive Summary ................................................................... 1 Investment Highlights ............................................................. 2 Property Overview ...................................................................... 3 Location Overview Photographs ...................................................................................4 Location Aerial .............................................................................. 5 Site Plan ..............................................................................................6 Location Map ................................................................................. 7 Market Overview Demographics ..............................................................................8 Market Overviews .......................................................................9 Tenant Summary Tenant Profile .................................................................................11 www.bouldergroup.com | Confidential Offering Memorandum Panera Bread | Baytown, TX Executive Summary EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant net leased Panera Bread property located within the Houston MSA in Baytown, Texas. Panera Bread has been in this location since June 2013. There are over 12 years remaining on the primary term of the
    [Show full text]
  • Mid-Bay Gate
    Mid-bay gate (M) Oyster reefs (D) SSPEED models showed that a mid- SSPEED evaluated the storm-surge bay gate, if used in combination protection that would result from the with dredged containment berms proposed construction of oyster reefs (E), would provide substantial surge across the middle of Galveston Bay, reduction in the western and upper along with vertical retaining walls. portions of the bay. Preliminary Modeling for this scenario found that estimates indicate the mid-bay gate the reefs alone would not adequately would provide a significant level of reduce storm surge in the western and surge protection for the west side of northwestern portions of the bay in Galveston Bay and the industrial the event that hurricane-force winds complex along the Houston Ship crossed over the large open expanse Channel. in the upper portion of the bay. Dredged berms (E) Galveston Seawall (1) The proposed dredge-containment Raising the existing 17-foot berms along the Houston Ship Galveston Seawall would provide Channel within the bay have been additional protection from coastal evaluated with computer models. storm surge for the city of Galveston. Existing berm sites along much of SSPEED has evaluated this scenario the Houston Ship Channel have and assessed the level of surge been constructed by the Army Corps protection a raised seawall would of Engineers for depositing the provide. material that is routinely dredged from the ship channel. Some of Raising Texas Highway 87 (F) and these berms, like the one that makes Farm-to-Market Road 3005 (G) up Atkinson Island, are as high as Computer models showed that raising 25 feet above sea level.
    [Show full text]
  • 2015 Runner's Guide
    2015 Runner’s Guide Welcome 8TH ANNUAL TOUGHEST 10K KEMAH SET TO HOST 2015 RRCA SOUTHERN REGION CHAMPIONSHIP Runners, welcome to this year’s eighth annual of them finished all three races. Toughest 10K Kemah, which doubles this year as the Road Runners Club of America’s Nearly 1,000 – 986 as of Monday, September (RRCA) Southern Region 10K Championship. 14 – have already signed up for this year’s Texas Bridge Series. You’re part of a record field of 2,000 runners that will start and finish this Saturday, Last year, the Toughest 10K Kemah was the September 19, 2015 at the world famous fourth different Running Alliance Sport event Kemah Boardwalk. to host an RRCA Texas state championship race as Kingwood’s Ryan Smith and Lake The Toughest 10K Kemah joins a long list Jackson’s Lauren Smith set new course of some of the South’s top 10Ks in the records of 32:47 and 37:34, respectively, to past decade to host the Southern Region win their second RRCA state crown of 2014. Championship, which covers RRCA’s 11-state region that spans from North Carolina to Both return this year to defend their titles as Texas and Arkansas to Florida. well as masters champions Peter Lawrence of Houston and Jody Berry of Seabrook. “Running Alliance Sport is honored to have been chosen to host this year’s Southern RRCA state champions from the 11-state Region Championship,” said Running Alliance region at the 10K distance since last year’s Sport founder Robby Sabban. “We’re proud race were invited – through their state to represent the RRCA and follow great representatives - to be a part of the race’s races such as Birmingham’s Vulcan Run 10K, elite field.
    [Show full text]
  • CH7 Bridges and Tunnels Pp340
    Bridges and Tunnels Fifty miles inland, on a flat plain drained by small bayous, Houston in its early days did not seem destined to become a city of bridges. There were no rivers to cross and no nearby bays or lakes to block the city’s growth. Although Houston was free of impediments, the addition of a man-made barrier would be the event that propelled Houston into the ranks of the nation’s largest cities. Dredging of the Houston Ship Channel to a depth of 25 feet (7.6 m) was completed in June 1914, and the channel was officially opened by President Woodrow Wilson on November 10 of that year. The rest, one might say, is history, as the ship channel spurred Houston’s industrial boom. The construction of one great work of infrastructure, the Houston Ship Channel, would ultimately necessitate other construction projects to bridge the man-made divide. Houston would not become a great bridge city on the order of New York City or San Francisco, but would still develop a nice collection of bridges and tunnels to complement its freeway system. In comparison to most cities in the United States, Houston’s major bridge crossings are a relatively modern development, with the first high-level bridge span opening in 1973. With newness comes better design and wider spans, but as this history shows, Houston’s bridges have all had their share of problems. The complete history of Houston’s bridges, however, predates the construction of the modern Houston Ship Channel. While Houston was still a mosquito-infested outpost on Buffalo Bayou, one of the nation’s more prosperous cities was thriving just 50 miles (80 km) to the south—on Galveston Island.
    [Show full text]
  • The Fred Hartman Bridge
    1996 MERIT BRIDGE AWARD: LONG SPAN THE FRED HARTMAN BRIDGE THE FRED HARTMAN BRIDGE OVER THE HOUSTON SHIP CHANNEL, with a total length of 2,475’, is currently the second largest cable-stayed bridge in terms of overall deck area. The bridge connects Loop 201 in Baytown with Texas Route 225 in LaPorte—a distance of about 2.5 miles—and replaces the obsolete Baytown tunnel, which opened in 1953. The bridge is particularly noteworthy for its “double-diamond” tower configu- ration which was designed to resist hur- ricane-force winds. The tower resists transverse loadings through truss action, thereby allowing the very slen- der 7’ leg width since there is virtually no transverse bending. The main span unit consists of a five- span structure, comprising three cable- stayed spans of 482’, 1,250’ and 482’, and two simple-span flanking units at 130’-6” each. The three-span cable- stayed portion is constructed with a composite steel superstructure. The typical section consists of two independent roadways, each approxi- mately 78’ wide, which carry four lanes of traffic with full shoulders. The superstructure framing system is very straightforward. It utilizes an 8”- thick reinforced concrete slab supported by transverse floor beams, which are spaced approximately 16’ apart. The floor beams frame into main girders, which are located along the outside edge of the section. The resulting steel grid is composite in both the longitudinal and transverse directions. A 4” reinforced Judges concrete wearing surface is placed over the 8” structural slab. Comments: A steel anchor box assembly provides the stay cable anchorage to the main girder.
    [Show full text]
  • Situated in the Epicenter of the Economic Boom on the Texas Gulf Coast
    Situated in the Epicenter of the Economic Boom on the Texas Gulf Coast Located near the Houston Ship Channel and Trinity Bay with Excellent Access to the Port of Houston Opportunity to Acquire the Newly Renovated, 56 Unit Class B+ Multi- Verve Apartments Family Asset in a Prime Baytown Location! KET Enterprises Incorporated I 1770 St. James Place, Suite 382 I Houston, TX 77056 I 713.355.4646 I www.ketent.com THE VERVE 3201 GARTH RD BAYTOWN, TX 77521 The Verve • 3201 Garth Road • Baytown, TX 77521 Asking Price $4,400,000 Units: 56 Price Per Unit $78,571 Avg Size: 827 Price Per Sq. Ft. $94.97 Date Built: 1963 Terms ALL CASH Rentable Sq. Ft.: 46,328 Acreage: 2.43 Occupancy: 91% Class: B++ INVESTMENT HIGHLIGHTS ► Blue/White Collar Profile ► Brick and Stucco Construction ► There is Tremendous Economic Growth in Baytown ► Exterior Renovations Completed - $1.36M ► Interior Renovations Completed - $700K ► Excellent School District - This is a Strong Plus! ► Ideal for Long Term Cash Flow! ► Rents are Rising! ► The Houston Ship Channel is Expanding ► The Ship Channel Will Add Approximately 100,000 jobs! ► Property Did NOT Flood During Hurricane Harvey Available All Cash or On An Assumption Basis for ► $4,250,000 PLEASE CALL FOR MORE DETAILS: TOM WILKINSON Broker/Vice President [email protected] 713-355-4646 ext 102 KET Enterprises Incorporated I 1770 St. James Place, Suite 3802 I Houston, TX 77056 I 713.355.4646 I www.ketent.com The Verve • 3201 Garth Road • Baytown, TX 77521 Physical Information Financial Information Existing Loan Parameters Operating Information Number of Units 56Asking Price $4,400,000 Mortgage Balance $3,515,000Est Mkt Rent (May-21) $52,696 Avg Unit Size 756Price Per Unit $78,571Amortization (months) 360 12 Mo Avg $47,984 Net Rentable Area 46,328Price Per Sq.
    [Show full text]
  • Bridge Facts Support to the Districts
    MANAGEMENT FOCUS MANAGEMENT TEXAS DEPARTMENT OF TRANSPORTATION The Bridge Division oversees and provides assistance in bridge program and project development; structural and geotechnical design; plan development; plans, specifications, and estimate (PS&E) review; safety inspection; and bridge construction and maintenance Bridge Facts support to the districts. The Bridge Division administers Bridge Division the following programs for TxDOT: FY 2009 • Federal Bridge Safety Inspection Program. David P. Hohmann, P.E. • Federal Highway Bridge Program, including Director TxDOT's Participation-Waived Project/Equivalent- Match Project (PWP/EMP) Program. (512) 416-2183 Fax: (512) 416-3144 Bridge Terms and Definitions The Bridge Division also is responsible for coordination Sections: with the Texas Parks and Wildlife Department in making recyclable materials available for the Texas FY 2009 Bridge Statistics Artificial Reef Program. Project Development Mission Michael S. O’Toole, P.E., Director FY 2009 Contract Statistics (512) 416-2240 The Bridge Division’s mission is to provide support and leadership on all matters relating to bridges and other General Information transportation structures. Design Vision David P. Hohmann, P.E., Interim Director Management Focus • Bridge Division services and solutions are (512) 416-2210 recognized and respected as safe, innovative, cost-effective, durable, environmentally sensitive, Field Operations Management aesthetic, and timely. • The Bridge Division is dedicated to developing and Keith L. Ramsey, P.E., Director
    [Show full text]