Market Square Tower Hits 90% Occupancy Amid Down Market
Less than a year after opening, Market Square Tower, Houston's tallest residential high-rise, is now over 90% leased. Opened last year amid an oil downturn dragging Houston's economy down, the luxury tower made a splash with its glass-bottomed cantilevered pool, allowing swimmers to swim out 500 feet above Downtown Houston. Last year, the sky pool went viral, being viewed over 300 million times on social media. Houston’s most tricked-out luxury tower also includes a grand ballroom, a spa, a sauna, an indoor basketball court, a virtual golf simulator, a movie theater, a poker suite, billiard rooms and arcade rooms. Despite many in Houston tightening their budgets, especially in the wake of Hurricane Harvey, interest in the property, where rents start at $2,200/month, has been robust.
"It's the gold standard for extraordinary living, and the response to the property has been overwhelming," Woodbranch CEO Phillip Schneidau said.
This fall, Lyric Market, a new 31K SF food hall, will open across the street from Market Square Tower. Along with additional retail developments and infrastructure improvements, North Downtown is forming into a prominent residential submarket within downtown.
