PM Realty Group purchased a 1.15-acre site at 3300 Main St. in Midtown. The Houston developer plans to build a 40-story, 336-unit apartment tower on the site. PMRG closed on the land in late December, after also struggling to find capital partners amid the energy downturn. The developer demolished a former city of Houston code enforcement building on the site last year, and hopes to start construction on the apartment project this year.
Exclusive: Long-Awaited 30-Story Midtown Tower Breaks Ground
PMRG, AECOM's 3300 Main High-Rise is Now Officially Underway
By Kyle Hagerty
May 22, 2018
A 30-story high-rise four years in the making is now officially underway in Houston’s Midtown.
After securing an unnamed joint venture equity partner and a loan from Goldman Sachs, PM Realty Group and AECOM have given the notice to proceed on the tower at 3300 Main St., according to PMRG Vice President of Investments, Carlos Chacon. Construction will take 24 months.
Designed by Baltimore-based CallisonRTKL, the mixed-use high-rise will feature 328 units with slightly less than 15,000 square feet of retail space and an attached six-story parking garage - with space for 608 cars - atop the project's ground floor retail space.
PMRG has had plans to turn the 1.2-acre plot into a mixed-use high-rise since 2014. In late 2016, PMRG closed on 3300 Main in Midtown, purchasing the 1.2-acre plot from the Midtown Redevelopment Authority, which listed proceeds from the sale of $6.6 million on its 2017 budget. The property housed a 1960’s-era office block once used by the city for its code enforcement operations, but was demolished to make room for the new structure.
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The suburbs are second-rate. Cookie-cutter houses, treeless yards, mediocre schools, and more crime than you think. Do your family a favor and move closer to the city.
I've updated the height from the 351' reported by the FAA two years ago to 438' from building elevations currently on the Houston Planning Commission's agenda. This will surpass 2850 Fannin by 110', and will be the tallest building in Midtown until The District high-rises move forward. I believe the previous height figure was for the former design.
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