Tiny Houston Micro-Condos: Pricey But Popular

I noticed the unique Ivy Lofts project in downtown Houston TX is filling up fast, and I couldn’t help but think about swanky senior housing units with waiting lists.

If you’re not familiar with Ivy Lofts, here’s the scoop on the projected 24-story building, from a two articles in the Houston Business Journal:
“Ivy Lofts, designed by Houston-based Powers Brown Architecture, will feature four floor plans: 300- and 450-square-foot lofts as well as 600- and 700-square-foot traditional condo units. There also will be eight larger penthouse-style units, ranging from 820 to 942 square feet. The majority of the units however — about 60 percent — will be less than 500 square feet.”

Don’t miss those square footages, and remember, an average 2-car garage is 24’X24’, which is 576 square feet.

Now, all over the world there are people living in much smaller spaces, it’s true. But I’m pretty sure most of those garage-sized living spaces don’t come with price tags as high as Ivy Lofts carry.

“Prices start from $119,000 for a 300-square-foot loft. The larger units — 700-square-foot units and above — will start at $375,000.”
You can do the math yourself, but when I do it, I come up with more than $535 per square foot.
If you’re shaking your head in amazement, too, you’ll be relieved to hear Ivy Lofts are furnished. Yes, and they are set up especially for making the most of the small space.

“The units will feature luxury finishes, a balcony and transformable walls and furniture, such as a Murphy bed, a coffee table that turns into a desk, a bookshelf that disassembles into chairs or a mechanical dining room table that collapses into the floor.”

But furnishings are just one of the amenities the new loft owners will enjoy. Common areas are another, and they include, “…a residents’ lounge, a rooftop courtyard and dog park, glass-walled fitness center and yoga room, and rooftop pool with a wet bar, in-water seats, sun-tanning ledge, barbecue grills and a view of downtown Houston.”

Can you see why I’m thinking these micro-condos are like luxury senior housing, with monthly rents in the thousands?

Bankrate.com gives the following details about, “… Edgemere, a nonprofit continuing care retirement community, or CCRC, in Dallas.

The one-time entrance fee for independent living units at Edgemere, for example, ranges from $339,000 to $1,150,000, with monthly fees thereafter ranging from $3,150 to $6,734.”

Apparently, tiny, pricey spaces to live are growing in popularity now, with youngsters and oldsters alike. I’m fond of my urban homes, but definitely not ready to downsize to 500 square feet. Not yet, anyway.