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Hotel Zaza to break ground in Memorial City this month

October 7, 2015 Leave a comment

Rendering of Hotel Zaza planned in Memorial City (Courtesy of MetroNational)

Houston-based MetroNational announced Friday it has partnered with Z Resorts to bring the boutique hotel to the intersection of Interstate-10 and Bunker Hill Road in Memorial City. Hotel Zaza has a location in Houston’s Museum District and another in Dallas.

Kirksey Architecture will oversee the design and Anslow Bryant Construction is the general contractor.

“With the addition of Hotel ZaZa, MetroNational has brought another great amenity to Memorial City that will benefit both business users and residents in West Houston,” MetroNational president Jason Johnson said in a statement. “MetroNational is now one step closer to completing our development at Interstate 10 and Bunker Hill and providing amenities necessary for a best of class development.”

The 17-story Hotel Zaza’s Memorial City location will have 159 guest rooms, and10,000-square-feet of event and meeting spaces for up to 300 people.  The hotel will also have 130 apartment units. Amenities will include two outdoor pools, a spa and restaurant lounge. The hotel will overlook a green space, which will be used for live music and festivals.

 

“We are excited to take the ZaZa brand west to Memorial City,” said Z Resorts President of operations Matthew Nuss, in a statement. “We feel the ZaZa experience will resonate with business and leisure travelers looking for a stylish experience in West Houston. And we intend on creating something truly unique and fresh to fill the void of luxury hotels, which currently exists in the Memorial neighborhoods and along the Energy Corridor.”
The hotel is slated to open in summer 2017.

Reprint from Houston Chronicle.com

By Erin Mulvaney

New plan for Montrose retail center aims to fit in with the neighborhood

June 17, 2015 Leave a comment

A Ziegler Cooper Architects-designed retail concept with slots for four or five tenants is expected to break ground once it leases up.

The new plan for the 7,533-square-foot center on the corner of West Alabama and Mandell streets is notably scaled down from a previous multilevel version, as Swamplot reported. Dallas-based Edge Realty Partners, which is marketing the property, said the new concept fits in better in the area.

 

Alabama Row

Edge Realty Partners said they are hoping to complete the 7,533-square-foot center on the corner of West Alabama and Mandell streets by end of first-quarter 2016.

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“The original concept was a large space to fit in a lot of restaurants,” said Josh Jacobs, the manager of Edge’s Houston office. “It was a high-cost plan, but also intrusive into the neighborhood.”

He said the current plan won’t congest an already-dense neighborhood, near the Menil Collection and the Montrose H-E-B.

“There’s amazing density already in that part of West Alabama,” Jacobs said.

Jacobs said there are letters of intent out on the property, and the project will move forward with construction once leases are signed. Edge is looking for nonchain tenants, specifically a coffee shop and/or a chef-driven restaurant. Space is going for $45 per square foot.

The project is expected to be complete by end of first quarter 2016.

Jacobs said this is a small-scale project for Houston-based Ziegler Cooper, and the design has the building close to the street, with self-parking around back and on the side. There’s no general contractor yet signed onto the project.

“The sense of scope of this plan fits in better,” Jacobs said. “We want the neighborhood to love it.”

Roxanna covers commercial real estate for the Houston Business Journal.

 

Here’s what Amegy Bank’s new headquarters will look like

March 19, 2015 Leave a comment

Construction is moving along on Amegy Bank N.A.’s new headquarters tower near the Galleria.

The 350,000-square-foot tower broke ground in November, according to Amegy, and the first rendering was released this week. Completion is expected in the fourth quarter of 2016.

Amegy Rendering

The new headquarters building will give Amegy room to grow, the bank told the Houston Business Journal in March.

Amegy bought the 4-acre site at 1717 W. Loop South, the former home of Micro Center, in early 2014. Micro Center has since moved to its new location just south of Highway 59 and outside the 610 Loop.

Amegy will move its corporate offices, currently located in Post Oak Park, and its Galleria banking center to the new building. The bank expects to house 500 employees there and occupy the majority of the building, though 97,912 square feet is available for lease. Cushman & Wakefield’s Houston office served as Amegy’s commercial real estate broker and also is leasing the available space.

 

 

Houston-based Hines is the development/project manager, Connecticut-based Pickard Chilton is the building design architect, Houston-based Kendall Heaton is the production architect, and San Francisco-based Gensler is the interiors architect.

Amegy Bank is the fifth-largest financial institution in the Houston area, according to Houston Business Journal research, with $9.98 billion in total local deposits as of June 30. Amegy’s parent is Salt Lake City-based Zions Bancorporation (Nasdaq: ZION).

Olivia Pulsinelli   Web producer- Houston Business Journal

 

Never Mind the Oil: Med Center Area Y-Plan Apartment Tower To Start Climbing in Less Than 2 Weeks

March 12, 2015 Leave a comment

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The Millennium Tower

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The Dinerstein Cos. will break ground Jan. 26 on a new luxury apartment tower near the Texas Medical Center.

The 22-story high-rise will be located at 1911 Holcombe Blvd., between MacGregor Way and Cambridge Street, just south of Hermann Park. The tower joins several new residential and commercial projects planned for Houston’s medical sector.

The Millennium Tower

The yet-unnamed project — dubbed The Millennium Tower on its website for now — will feature 375 apartment units on 16 floors over a six-story parking garage.

Common amenities include a deck with an infinity-edge pool, fitness center with separate yoga area and an outdoor fitness area. Residents will have views of Hermann Park, the Texas Medical Center and downtown Houston.

 

The Millennium Tower

Solomon Cordwell Buenz, based in Chicago, is the architect. Gilbane Inc., based in Providence, Rhode Island, is the general contractor.

Dinerstein, a Houston-based apartment and student housing developer, is building another midrise apartment project nearby. The Millennium Kirby is under construction at 7600 Kirby Drive, near Main Street southwest of Hermann Park. It is expected to be completed later this year or early 2016.

Dinerstein’s marketing director Emily Prevost said the company is pushing ahead with its high-rise project despite economic concerns stemming from the plunging oil prices.

 

The Millennium Tower

In the past six months, crude oil prices have dropped from more than $100 a barrel to below $50 a barrel. While consumers are rejoicing at the pump, Houston’s oil and gas companies are announcing budget and job cuts. If low oil prices are sustained, observers fear the energy cuts may trickle down to the multifamily market.

Prevost said Dinerstein is banking on the high-rise’s location near Houston’s other major industry — health care — to mitigate the effect of falling oil prices.

“The medical center will shield us from the oil situation,” Prevost said. “It’s one of the best medical centers in the world.”

The Texas Medical Center is spurring new residential and commercial development in the area.

The Millennium Tower

 

In November, TMC officials announced plans for a new research campus on a parking lot near the Baylor College of Medicine’s new McNair campus along Old Spanish Trail. The following month, the Urban Land Institute presented plans to redevelop the vacant Astrodome into an indoor park with rock climbing walls, zip lines, skatepark, run/bike trails and a swimming pool. Earlier this month, the Hermann Park Conservancy opened the door to its new gardens and pavilion.

Developers have begun to take notice, and are planning new luxury homes and apartments in the area, including hundreds of single-family lots near the Texas Medical Center. Olf 7171 Grand LLC, Medistar 521/90 LLC and Ardmore Property LLC are listed on a city of Houston plat record for Ardmore Court, located on 26.8 acres northwest of State Highway 288 and the Interstate 610 Loop. The community will feature 433 single-family lots ranging in size from about 1,630 square feet to 2,400 square feet.

Paul Takahashi covers residential and multifamily commercial real estate for the Houston Business

 

 

 

New details revealed for Montrose apartments replacing El Tiempo

March 4, 2015 Leave a comment

Developers are moving forward on a new luxury apartment complex in Montrose.

Sunrise Luxury Living submitted a plat application to the city of Houston for Sunrise Montrose, a Class A apartment project slated for the former location of El Tiempo Cantina on Montrose Boulevard.

The Houston-based multifamily developer is planning to build an eight-story, 224-unit project on 1.87 acres at 1320 Montrose Blvd., near West Clay Avenue, according to Sunrise’s website and its plat record.

blueprints drawings

Houston-based Sunrise Luxury Living submitted a plat application to the city of Houston for Sunrise Montrose, a Class A apartment project slated for the former location of El Tiempo Cantina on Montrose Boulevard.

Sunrise Montrose will consist of five stories of residential units over a three-story podium parking garage. The units will consist of efficiencies, townhome units, and one-, two- and three-bedroom apartments, according to the company website.

Common amenities include two courtyards with an outdoor swimming pool, cyber cafe, resident lounge, conference room, private resident offices, fitness center and a rooftop terrace.

Construction is expected to begin in April with completion by late 2016 or early 2017, according to the company website. The plat application is scheduled to go before the Houston planning commission on Jan. 22.


Sunrise is working on another luxury apartment project nearby called Sunrise by the Park, located at 155 Birdsall St. near Memorial Drive and Westcott Street and Memorial Park. The first residents are expected to move into the five-story, 180-unit apartment complex in February.

Montrose is a booming area for multifamily projects.

Sunrise Montrose is less than a mile south of Houston-based The Finger Cos.’ 2900 West Dallas luxury midrise that opened in late 2013 and the site of JLB Partners’ Axis apartment complex, which burned down in early 2014 while it was still under construction.

It’s also about a mile north of Houston-based The Hanover Co.’s high-rise underway at 3400 Montrose. Hanover also opened a luxury midrise nearby at W. Gray Street and Waugh Drive in the past couple of years and recently sold it to Chicago-based Amli Residential.

Also within a mile of Sunrise Montrose, The Sovereign at Regent Square, a high-rise at 3233 W. Dallas St., is nearly complete.

Meanwhile El Tiempo Cantina announced in December it will move down the street to the corner of Taft Street and Westheimer Road in the building that houses the fine dining Mexican steakhouse La Casa del Caballo.

By  Paul Takahashi  Reporter- Houston Business Journal

 

Luxury homebuilder beefs up first condo project near Allen Parkway

February 20, 2015 Leave a comment

Sims Luxury Builders has expanded plans for its first condominium building as demand proved stronger than expected.

 

The Houston Chronicle reports that Riva at the Park will now be a 10-story building with 29 condo units. The original plan, announced in September, called for a seven-story building with 22 units ranging from 2,100 to 3,600 square feet and priced between $700,000 and $1.4 million. Now, the Chronicle reports the floor plans range from 2,350 to 3,600 square feet and are priced from $800,000 to $1.6 million.

The inner-Loop project is being built at 3331 D’Amico St., southeast of the Allen Parkway and Dunlavy Street intersection, and completion is expected in the summer of 2016.

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$75 million luxury apartment project breaks ground in Houston’s Museum District

January 22, 2015 Leave a comment

 

A longtime Houston developer has embarked on a $75 million luxury apartment project in the Museum District.

HermannParkResidences 001

 

Tema Development Inc. broke ground Dec. 2 on Hermann Park Residences, located at 1699 Hermann Drive near Jackson Street. The seven-story, 224-unit building will sit on 2.25 acres across from Hermann Park, within close proximity to the Houston Museum of Natural Science and the Museum of Fine Arts.

The project is expected to be completed in late 2016.

Hermann Park Residences will feature 311,000 square feet of studios, one- and two-bedroom units and five penthouse suites. The units, which boast high-end fixtures, millwork materials and stainless steel appliances, will overlook Hermann Park or a courtyard.

The apartment project also features a 12,000-square-foot courtyard with a fountain, and a 9,000-square-foot amenity area. Common amenities include a rooftop sky lounge, cafe bar, club, conference area, fitness center, yoga room, swimming pool with a sunbathing ledge, fire pit, barbecue area, common-area Wi-Fi, bicycle storage and an electric car-charging station.

 

HermannParkResidences 002

 

Tema Development also is building a 144,000-square-foot, five-story structured parking garage behind the apartment project. Residents can drive into the garage, park in one of 351 spaces and enter into the apartment complex at each level.

Houston-based Morganti Group Inc. is the general contractor, Dallas-based Corgan Associates Inc. is the architect and Houston-based Greystar Real Estate is the property manager.

Tema Development, which was established in 1981, also developed The Parklane, a 35-story luxury condominium tower at 1701 Hermann Drive in the Museum District. The developer is planning two other projects in the Museum District, including a 42-story apartment northwest of The Parklane, which was developed in the early 1980s.

 

HermannParkResidences 003

 

The inner loop neighborhood has become a prime location for upscale, multifamily projects due to its rich neighborhood amenities and close proximity to downtown Houston and the Texas Medical Center. With median rent at $2,280 per month, the Museum District also is Houston’s most expensive neighborhood to rent an apartment, according to San Francisco-based Zumper.

 

 

Fueled by Houston’s hot multifamily market, several luxury residential projects have launched this year in the Museum District.

  • Dallas-based StreetLights Residential broke ground on The Carter, a 20-story, 305-unit apartment tower half a mile north of Hermann Park.
  • Houston-based Hines is developing The Southmore, a 24-story, 233-unit apartment tower less than a mile north of Hermann Park.
  • Houston-based Surge Homes Development LLC is planning a four-story, 55-unit condominium project less than a mile north of Hermann Park.

Paul Takahashi covers residential and multifamily commercial real estate for the Houston Business Journal.

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