The building, located in the southern portion of Downtown, has 396 apartments. Charles M. Goodman designed the building, which opened in 1966. Since 1983 Larry Hill of Sumar Realty Corp. and a group of investors have owned the building as part of a partnership.[1] As of 2007 the building had a 90% occupancy rate, and it was one of the few residential buildings in Downtown Houston that had been in operation for around 40 years.[2]
Several years prior to 2010, the owners tried to sell the building to a Chicago company,[1] NVG Residential. NVG planned to close on the property in January 2008. After the planned acquisition NVG planned to install new windows, re-paint the exterior, improve the lobby and the 9th and 10th floor amenity areas. In the amenity areas the company planned to install a business and fitness center, and updated club house, a basketball court, a pool, and an outdoor dining area.[2] The deal with the Chicago firm failed. By 2010 Hill and his business partners began a planned over $10 million renovation of the building.[1]
In 2007 a vehicle driving in the apartment complex's garage punched through the wall of the garage and landed wheels up on another downtown building. The driver died in the crash.[3]
Composition
The average size of the units is 650 square feet (60 m2).[1] Most units range in size from 500 square feet (46 m2) to 840 square feet (78 m2). In 2007 the per-period rent was between $800 and $1,300.[2]
By Spring 2011 Atherton Elementary School and E.O. Smith Education Center were consolidated with a new K-5 campus in the Atherton site.[7] As a result for grades 6-8 the building was rezoned from Smith to Gregory Lincoln.[8][9]
References
^ abcdSarnoff, Nancy. "High-rise face-lift." Houston Chronicle. September 28, 2010. Retrieved on May 28, 2011. "The longtime owner is putting more than $10 million into the 31-story tower on the southern end of downtown." and "Larry Hill of Sumar Realty Corp. has owned the building at 1617 Fannin with investors since 1983."
