POSTED ON MARCH 5, 2008:
A Fatal Case of Hiccups?
Fancy apartment project along Brookside is bedridden and fading fast
Last week, we reported that the Houston-based Bomasada Group announced with great fanfare and mostly positive response their plans to build a swanky, $40 million 5-story apartment complex on Brookside near 41st and Peoria Ave.
Just as the hype was gaining steam about all the benefits it would bring to the neighborhood and the city at large, the project seems to have foundered due to what a local real estate broker called "hiccups" from the city government.
Lex Heidenreich of NAI Commercial Properties, the real estate firm brokering the deal between the developers and the local property owner, told UTW of the "hiccups" within days of the development's announcement, stating that the project is currently on the proverbial "back burner."
Dan Perry of Perry Properties, which owns the two apartment complexes currently on the lot, confirmed the "backburner" status, stating that his properties are no longer on contract with the Bomasada Group.
"They still have a representative who's working with the city," Perry added, fanning the fading but still flickering flame of hope for the project.
Perry and Heidenreich referred all questions about the aforementioned "hiccups" to John Gilbert, senior vice president of the Bomasada Group.
After an invigorating round of telephone tag with Gilbert, UTW was informed that, at the time of this writing, he is out of the office due to a scheduled medical procedure.
We'll keep you posted as the story develops, though.
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