5 Projects Shaping Galleria/Uptown Houston
Uptown Houston is loaded with head-turning projects covering all the bases from mixed-use, retail, restaurants, apartments, hotels and office.
Billionaires have gotten into the game there: Tilman Fertitta's The Post Oak Hotel at Uptown is open, and McNair Interests is expected to break ground on its mixed-use project this year.
As properties within the district become obsolete, developers are coming in to redevelop and reimagine those spaces. A major street beautification and transit improvement project is underway, which is expected to improve the walkability and connectivity of the submarket. The majority of projects under construction will add more residential units.
Colliers International President Patrick Duffy and Whitestone REIT Chairman and CEO Jim Mastandrea will discuss the live, work, play and stay trends at The Future of Uptown Houston event Wednesday.
Bisnow took a drive around Uptown Houston to check out the progress of some of the most significant projects in the district. Check out the projects below:
1. Park place | River oaks
Stonelake Capital Partners is constructing a 15-story, Class-A office building at the corner of Westheimer Road and Mid Lane. The 200K SF office building is the third phase of Park Place | River Oaks, an 11.5-acre mixed-use development at 4200 Westheimer Road in the River Oaks/Highland Village submarket.
The floor plates will average 26K SF, and the building design includes a landscaped terrace on the ninth floor available to all tenants and multiple signage opportunities.
The foundation was poured this week and is on track to deliver in March, according to Colvill Office Properties Marketing Director Robin Black. Colvill Office Properties' Brad Beasley and Connor Saxe have closed on 40K SF in office leases, which will be announced soon.
Stonelake assembled the land for Park Place in 2010 through five separate transactions. Phase 1 was The James, an eight-story, Class-A multifamily building that is 95% leased, while Phase 2 included The Ivy, a 17-story, luxury residential building which opened in 2017 and is 85% leased.
Harvey Builders is the general contractor and Beck Architecture designed the building.
2. ARISE POST OAK
A heavily disputed, long-awaited luxury high-rise project on Post Oak Boulevard appears to have broken ground. The Dinerstein Cos. is constructing a 39-story building called Arise Post Oak at 1650 Post Oak at San Felipe, according to the Houston Chronicle. The project is expected to open in summer 2021.
Arise Post Oak was announced in 2015, but the project was delayed when the developer sued the homeowners of the Cosmopolitan, a nearby 22-story luxury condominium, who opposed the height and location of the new tower. Dinerstein purchased the less than 2-acre site for $20M.
TRC Capital Partners CEO Steve Lerner previously told Bisnow the multifamily tower will feature 30K SF of retail. Additional comments from Dinerstein were not available at press time.
3. hanover BLVD PLACE
Hanover BLVD Place is completed in Uptown.
The 32-story, 281-unit apartment tower sits south of Hanover Post Oak off South Post Oak Lane. The multifamily communities are within walking distance to Wulfe & Cos.' BLVD Place mixed-use project. Hanover Post Oak is a 355-unit, Class-A tower that was completed in December 2014.
Hanover purchased the land for Hanover BLVD Place in 2015. Designed by SCB Architects, Hanover BLVD Place features two amenity decks: one off the fifth floor and one on the top floor, according to the Houston Business Journal. The lower deck features a resort-style pool and outdoor space, while the top deck touts a clear-bottom, cantilevered pool, a party room with kitchen and a fitness center with views of the Galleria area and Downtown Houston.
Hanover BLVD Place has studio, one-, two- and three-bedroom units with open-concept gourmet kitchens, granite, stone and quartz countertops, stainless steel appliances, floor-to-ceiling windows and oversized soaking tubs, according to the apartment's website. The top two levels have 12 penthouse suites with two or three bedrooms, natural stone slab countertops, fireplaces and free-standing designer soaking tubs.
Hanover is also constructing Hanover River Oaks, a 39-story luxury high-rise in the Upper Kirby district. The project will include 370 residential units and 10K SF of ground-floor retail on a nearly 2-acre site at 2930 Kirby Drive. The first units are expected to be available in the first quarter of 2020, according to HFF.
4. gables westcreek
Cranes are in the sky and construction workers were found on the site of Gables Residential's 14-story apartment tower in Uptown, a few miles north of high-end shopping center River Oaks District.
Situated on a 2.6-acre site on Westcreek Lane, Gables Westcreek has an average unit size of 1,539 SF, according to the Houston Business Journal. The project broke ground in September after facing delays related to the oil downturn. The first units are expected to be ready by the third quarter of 2020.
Gables Residential Vice President Micah Conn recently told a Bisnow audience the company has found its rental residential bases craves amenities and services that can be found in a condominium. On-site amenities at Gables Westcreek include concierge services, a rooftop swimming pool, an outdoor kitchen, a fitness room, bicycle storage and a clubroom for resident gatherings.
Ziegler Cooper will design the building.
5. McNair interests' project
A few pickup trucks and trash containers were found on the future site of McNair Interests' 1.2M SF mixed-use development. The unnamed megadevelopment is expected to break ground this year at Richmond Avenue and Post Oak Boulevard in Uptown Houston.
The vacant 6-acre tract will transform into a 150-room Rosewood Hotel with 80 luxury residences, a multifamily tower, 350K SF of Class-A office, restaurants, 30K SF of retail, and green space. The project will be designed by Skidmore, Owings & Merrill and managed by Patrinely Group.
McNair Interests President and Houston Texans Chief Operating Officer Scott Schwinger told Bisnow last year the company was going to pick up its real estate investment. The company is actively building and acquiring properties across sectors in both infill and suburban markets. Real estate could soon amass up to 25% of McNair's investment portfolio.
The company didn't respond to requests for a project update at press time.
Learn more about the projects and trends shaping Uptown Houston at the Future of Uptown event at The Westin Galleria Houston on Wednesday.
