The Cosmopolitan apartments in downtown Corpus Christi are nearing completion. This photo was taken in Dec. 2015. Photo by Carrie Robertson Mayer/Third Coast Photo
Eight liens against the Cosmopolitan apartment complex have halted construction on the nearly completed high rise in downtown Corpus Christi. Realtex Development Company in Austin, Texas, blamed delays on bad weather, a shortage of labor and material and rising construction costs.
Located at 401 N Chaparral St., the 165-unit complex is expected to be a cornerstone of revitalization downtown. Rents are expected to run from $1,200 a month for one-bedroom units to $1,460 for lofts. The bottom floor will house commercial businesses.
Corpus Christi contractors asking for immediate payment for work already completed include:
• Mbeatty Management, $78,000 for doors, locks and shelves;
• E-Conn Enterprises, $229,000, labor and supplies;
• RSL Floor Design, $171,000, concrete and other flooring.
Cost overruns are estimated to be around $2 million or more.
According to a company spokesperson, around 500 people have expressed an interest in renting as of mid-December 2015. Some units have been pre-leased. The first units are expected to be ready for move-in sometime in July. Originally, the company had talked about a March opening.
