Home > New Construction, Uncategorized > Hines to move forward on Museum District high-rise

Hines to move forward on Museum District high-rise

October 21, 2013 Leave a comment Go to comments

Houston-based megadeveloper Hines recently closed on the land for its next rental high-rise development for an undisclosed amount.

Houston-based Hines closed on the land last week for its next high-rise development, the Southmore, located in the Museum District.

The real estate company, which had been working to acquire the land for a little over a year, released more details to the Houston Business Journal on the rental project — the Southmore.

Hines plans to break ground on the 25-story high-rise in the Museum District in July with an expected completion date set for November 2016.

At 301,000 square feet and 259 units, the project will be on a block bound by Southmore, Oakdale, San Jacinto and Caroline streets.

The land for the project was pieced together from three different tracts, said Tim Dosch, principal at ARA Real Estate Investment Services’ land division, which represented Hines in the deals. One tract on the block was not sold to Hines — it is privately owned and has a historic house, which will remain.

The Hines project will include a 10,000-square-foot public-access park with benches and landscaping that will be open to the neighborhood during designated hours.

In addition, there is potential for small retail space adjacent to the park, such as a café or light food services, said Kevin Batchelor, vice president development at Hines.

“Our four residential projects in Houston that we are working on currently all are in highly walkable locations,” Batchelor said. “They are located next to cultural amenities and activities, such as museums and universities. There are already a lot of cultural facilities in that area, and we are designing the Southmore so that it also benefits other projects in the neighborhood.”

Houston-based firms Wallace Garcia Wilson Architects Inc. and Munoz & Albin Architects are designing the project. Houston-based Urban Oaks Builder is the general contractor.

In addition to this high-rise project,Hines is working on a 33-story, 327,000-square-foot Market Square development with 289 units, which is also expected to be complete by 2016.

Shaina Zucker – Reporter- Houston Business Journal

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