On Real Estate

Tuesday, November 28, 2000

Posh steakhouse to open downtown

Owners of two buildings to add several tenants

An upscale steakhouse is the next development for the downtown Weber and Katz buildings at the corner of Mesquite and Lawrence streets.
   The steakhouse will take up much of the 7,000-square-foot bottom floor of the Katz building, and will link with the 21 club next door in the Weber building. Dr. Keith Rose, an owner of the buildings, said it will be one of the finest restaurants in town, with valet parking and meeting rooms.
   Rose said the steakhouse, to be opened in the spring, is being developed by people associated with Ruth's Chris Steakhouse and other posh steakhouses. They plan to invest $300,000 in the restaurant.
   Tenants have signed leases for 4,000 square feet of office space on the third floor of the Katz Building. Tenants include physicians and a mortgage services company. La Mar's The Bridal Place, which has been at the Mesquite address for decades, will relocate away from the corner location in order to accommodate the steakhouse.
   Gulf Coast Downtown Develop-ment, of which Rose is a partner, is also working with a company to develop a spa and fitness center on the second floor of the Katz building.
   Meanwhile, seven of the 10 lofts above the 21 club at 319 Mesquite St. have been leased, Rose said. Construction began in summer 1999. Also, papers are being finalized for a change in ownership for the two buildings. Rose bought out two Galveston-based partners two months ago. Rose joined local contractor Virgil Hinojosa Jr. and real estate consultant Bill Ward in a new entity, Gulf Coast Downtown Development LLP. The group plans more developments in downtown Corpus Christi.
   The venture with the Weber and Katz buildings will increase the buildings' value from $500,000 to $3 million after the Katz building is fully developed, Rose said.
   Hinojosa is also developing lots for housing through his company Jubilee Development. Streets for Montecito Estates, off Up River and McKinzie roads, are expected to be completed in two weeks, he said.
   The gated development will include lots for 57 custom homes priced in the $130s to the $260s. The development will also have 43 townhomes priced in the low $90s to the $110s. The homes are part of the Tuloso-Midway school district.
   Taqueria Jalisco's ninth
   Taqueria Jalisco is beginning to build its ninth restaurant, at 2433 Cimarron Blvd. The restaurant is expected to be open in February.
   This restaurant will be the chain's first to feature a bar. It will also have a new interior design with stone on the outside, brick and stucco and saltillo pavers, said Rey Guerrero, restaurant designer.
   The location is near the corner of Cimarron and Wooldridge, which has grown in recent years with Cimmaron Senior Apartments. Lupe Leon began the first Taqueria Jalisco on South Port Avenue.
   New Eckerd's on the way
   Eckerd's is moving into a 68,000-square-foot location at the corner of Everhart Road and South Staples Street. The deal has been working for more than two years, but finally came to reality when Wayne Lundquist of Cobb-Lundquist Realtors pieced together five properties to give the pharmacy enough room for a planned store.
   Parts of the property have been the location of Midas Muffler, the Pedal Shop, Braslau's furniture, a Mexican food restaurant and part of the Jewish Community Council property. The larger location will give the company more room for a drive-through pharmacy and expanded floor space, Lundquist said.
   New Dollar General store
   The building that was a Feudo's neighborhood grocery store at 831 Airline Road for more than 50 years will soon become a Dollar General store. Owner Alex Garcia Jr. is having the 10,200-square-foot building renovated so that it will share the space for the budget retailer and a Five Star Foods convenience store. The stores will be closed until the beginning of 2001, when both will open together, Garcia said.
   Traffic for the store was not enough to sustain a local grocery store in that area, Garcia said. He purchased it in February 1999. The new Five Star Foods will have an emphasis on tobacco products, drinks and check cashing, Garcia said. Contractor clearinghouse
   The Home Service Store will open a home maintenance, repair and improvement service outlet at 3765 S. Alameda St. Stephen Priour is the field manager.
   The Home Service Store (HSS) offers home and small business owners easy access and referral to a pre-qualified network of expert trades professionals who are local to the Corpus Christi area, and backs all work with an exclusive member protection guarantee.
   Consumers can choose from services offered by The Home Service Store's affiliate contractors, including painting and repairs, plumbing, electrical, major remodeling and renovations, exterior work, interior decor, lawn care and landscaping. The Home Service Store is membership-based. A one-year membership is $48 and entitles the member to a wide range of services, including financing for improvement projects.
  

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Business writer Andrea Jares can be reached at 886-3678 or by email at jaresa@caller.com. On Real Estate is published every other Tuesday in the business section.

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