East End's Renaissance Starts Today
When the Dynamo’s BBVA Compass Stadium opened in the East End in 2012, experts predicted the submarket would take off. Things have been quiet since, but with the groundbreaking of East End of the Bayou today in the Bayou District, the East End is finally starting its renaissance.
Padua Realty and Perry Homes are breaking ground this afternoon on East End on the Bayou, 73 high-end townhomes. This is the first project approved by the TIRZ 23, and developer Alan Atkinson (second from the left here at a CREN event) says it’s the linchpin for more than 80 acres of mixed-use development on the south side of Buffalo Bayou. Alan tells us all the planned activity (including high-rise multifamily and mixed-use retail) wouldn’t happen without the new TIRZ; it’s the only way to fund public infrastructure improvements to this part of town.
There are a slew of other projects in line behind East End on the Bayou—we’ve heard a developer is under contract with Pinto to build 10 acres of multifamily on the north side of the Bayou, and Cathexis has been quietly making plans for the 136-acre old KBR site. (No word yet on what’ll happen there, but there’s been a lot of hype about what that tract could become.) A number of other land sites have sold, and Alan tells us we’ll start hearing all sorts of development announcements over the next few months. He believes the Bayou District offers a unique opportunity to create a well thought out mixed-use, blended-income neighborhood; instead of displacing existing residents, redevelopment only needed to relocate industrial users to free up large tracts.
East End on the Bayou sits at the intersection of North Nagle and Kennedy Streets, and Padua/Perry are putting heavy emphasis on a beautiful streetscape to complement the property's view of the Bayou. It’s adjacent to two tracts owned by the Buffalo Bayou Partnership (which plans to build a park on one) and is within walking distance of Guadalupe Park, which is undergoing a $5.1M reconstruction; The Esplanade on Navigation Boulevard; and Ninfa’s. Padua Realty director Tony Padua (here spearfishing with his brother/business partner Alex) says foreign investment was a big component in the deal—his investors from Ecuador and Australia immediately loved the opportunity to build high-quality residences in the Bayou District. (We’ve said it before; sometimes it takes an outsider without local biases to spark redevelopment!)
