Posted Apr 29, 2014, 11:40 PM
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Moderator
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,383
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Quote:
Originally Posted by Houston Chron
Uptown Park developer inks deal for new luxury residential tower
The owner of Uptown Park has signed an agreement with Patrinely Group to build a luxury residential tower with 250 units in the Italianate shopping center at the prominent corner of Post Oak Boulevard and the West Loop.
The project will be the first of many changes planned for the 17-acre property, which was developed 15 years ago as a series of low-slung retail buildings surrounded by surface parking.
Earlier this year, owner AmREIT announced plans to redevelop the site into a much higher density development with housing, hotel rooms and office space valued at around $1.2 billion. The Houston-based real estate company has identified seven potential development sites in Uptown Park and plans to add significantly to the existing 169,000 square feet of retail space.
The agreement is “the beginning of what could be a transformation of our Uptown Park property to one of the finest mixed use communities in Houston,” AmREIT’s chairman and CEO Kerr Taylor said in a news release discussing the company’s first-quarter earnings.
The new building, Crimson at Uptown Park, will be developed on the northwest corner of the property where the stores Baker, Pelucha Decor and Bella Rinova are now.
Full Article: http://blog.chron.com/primeproperty/...dential-tower/
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