Luxury multifamily project planned near Houston’s Uptown Park, River Oaks District
Houston-based multifamily real estate company Fein has acquired nearly 3.4 acres inside the 610 Loop for its next luxury project.
The project, called Reverie at River Hollow, will be at the northeast corner of Post Oak Park Drive and River Hollow Lane, according to a July 12 press release. That's just east of the Loop and the Uptown Park shopping center as well as a mile north of the River Oaks District.
JLL's Simmi Jaggi and Elizabeth Clampitt represented the seller in the land acquisition. Chris Bergmann, also with JLL, represented Fein. A purchase price was not disclosed.
Reverie at River Hollow is expected to break ground by August and be complete in the fourth quarter of 2020. It will offer 304 units, consisting of studio and one-, two- and three-bedroom options ranging in size from 558 square feet to 1,966 square feet.
Unit amenities will include 10-foot ceilings, wood-style flooring, quartz countertops with tile backsplashes, custom 42-inch cabinets, under-cabinet
lighting, stainless steel appliances including gas ranges, full-size washers and dryers, dual-pane Low-E energy efficient windows, energy efficient air conditioning and heating systems, and unlimited hot water with the TEAL system, per the release.
Community amenities include:
- Clubhouse on top of the building with views of downtown Houston and Memorial Park
- Library with free WiFi, charging stations and adjoining conference rooms
- Club area with multiple flat-screen TVs
- Private party room with catering kitchen and storage
- Fitness center with high-grade cardio equipment, weight-training equipment, a yoga and indoor cycling studio with an on-demand workout system and an adjoining kids room
- Outdoor deck
- Pet spa and dog run
- Bike shop and bike storage room
- Outdoor sundeck with a resort-style pool, a lap pool and poolside cabanas
- Quiet reflection fountain courtyard
The release also notes that Reverie at River Hollow will be "a few hundred feet east of the first stop of the Uptown dedicated bus lane project called The Boulevard, which will include the transformation of Post Oak Boulevard with new dedicated express bus lanes … (and) expanded pedestrian sidewalks."
Additionally, the apartment complex will surround an eight-story parking garage so residents can access their cars on their individual floors.
Steinberg Dickey Collaborative designed the five- and six-story steel and concrete structure, and Moore Design Group of Dallas provided interior design services. Westchase Construction Ltd., an affiliate of Martin Fein Interests Ltd., will be the general contractor for the development.
Eagle Realty Group, a real estate investment and property management company, is providing equity financing, which was arranged by Hal Holliday of CBRE. Comerica Bank and Trustmark bank are providing the construction financing.
Source: Houston Business Journal