Leader Listing The Leader • Saturday, January 26, 2019 • Page 1B
Heights Forum newest project on N. Shepherd
Real-estate update
Variances receive approval for Heights boutique hotel By Betsy Denson betsy@theleadernews.com
Contributed photo An urgent care facility has already been signed for a new development on North Shepherd Drive, according to the leasing agent.
Another development in works By Betsy Denson betsy@theleadernews.com Greg Slusky with Sluco Realty services said he is the leasing agent – not the developer – for a new develop-
ment called Heights Forum at 1336 N Shepherd Dr. Slusky said there is one signed tenant for the development already – an urgent care center – with additional space for a restaurant on the
ground floor and additional retail on the second floor. Other “tenants” on an artist’s rendering show other possibilities. The flyer promoting the development calls the Forum “a great retail site with
strong demographics in the heart of the Heights” with “strong retail and restaurant growth along the Shepherd corridor.” See Shepherd P. 3B
Ben Ackerley, who plans to build a boutique hotel on a historic site in the Heights, said the city of Houston approved setback and hotel/ motel variances that will help his project come to fruition. With the go-ahead to build in a residential neighborhood, Ackerley is moving forward with Maison Robert, a 37-room hotel with a bar and retail space at 347 Contributed photo W. 20th St. He withdrew his request for Construction of a boutique hotel a parking variance, planned for 347 W. 20th St. is exwhich was Ackerley’s pected to begin in about nine months. pledge to a group of residents who gathered last week to hear more about his plan. “The architect’s proposal for (the) full structure, design and engineering package came back, so we’ll go through that,” Ackerley said. “(Then) submit to construction firms for bidding.” Ackerley said he hadn’t bid it out earlier because changes were being made to the site plan layout as recently as last week, once the purchase of the Heights Flower Shop was complete. The plan is for the florist to move into the hotel so that Maison Robert guests can use its parking spaces. Ackerley told attendees at last week’s community meeting that the estimate for starting the build would be in nine months and that it would take about 24 months to build. Once finished, rooms will start at $149, although with time – and perhaps popularity – the price would increase. The hotel will also be pet friendly.
Salvation for Sears
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CEO Lampert prevails in bankruptcy auction, hundreds of stores expected to remain open By Landan Kuhlmann landan@theleadernews.com
Though it has remained unclear throughout Sears’ bankruptcy proceedings what the future would hold for the company’s longstanding department store in Garden Oaks, a recent development could signal a lifeline for the location at 4000 N. Shepherd Dr. According to multiple reports, Sears Holdings CEO Eddie Lampert recently won a bankruptcy auction that would keep hundreds of Sears and Kmart stores open nationwide. Lampert’s winning bid of $5.2 billion is a move that should reportedly save about 45,000 jobs by keeping more than 400
stores open. Reports from the Wall Street Journal said opposing creditors bidding against Lampert and his hedge fund, ESL Investments, would have liquidated all of Sears’ assets and closed its remaining stores. The company had already announced the closure of 262 stores, although the Garden Oaks location was not among them. “We are pleased to have reached a deal that would provide a path for Sears to emerge from the chapter 11 process. Importantly, the consummation of the transaction would preserve employment for tens of thousands of associates, as well as the relation-
ships with many vendors and suppliers who provide Sears with goods and services,” Sears’ Restructuring Committee of the Board of Directors said in a statement. “We would like to thank our dedicated associates, vendors and partners for their continued support through this process, and most importantly the members and customers we have the privilege to serve.” Before becoming official, Lampert’s winning bid must be approved by a bankruptcy judge. According to a Sears company statement, the hearing to approve the sale is scheduled for Feb. 1. If the closing conditions are satisfied, the transaction is ex-
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Photo by Adam Zuvanich Customers wait in line at Sears on North Shepherd Drive. The store is one of many that could potentially benefit from the recent news that Sears CEO Eddie Lampert won a bankruptcy auction.