HOUSTON | M Square (3200 Post Oak Blvd) | 751 FT | 54 & 18 FLOORS
Developer: McNair Interest & Patrinely Group Architect: Skidmore, Owings & Merill Type: Residential, Hotel & Office Location: NE Corner of Richmond & Post Oak, Uptown Construction Timeline: 2019 Start Date - 2020 Completion
For its first mixed-use development, Houston-based McNair Interests plans to enter the market with a splash.
In 2019, the private investment and management company will break ground on a 1.2 million-square-foot luxury mixed-use development at the intersection of Richmond Avenue and Post Oak Boulevard, McNair Interests' chairman and CEO Cary McNair told the Houston Business Journal. It'll boast all the components of a high-end district: luxury residential units, a roughly 350,000-square-foot Class A office tower, around 30,000 square feet of upscale retail, chef-driven restaurants, green space and a 150-room Rosewood Hotel.
"I don’t know that there are very many projects like this around the country," McNair said."We feel like we’ve been a little bit of a rogue investor, and maybe we’re breaking new ground."
McNair estimated that the project's cost will be around $500 million. McNair Interests will wholly fund the project through typical real estate finance sources and lenders.
"We're having good discussions," McNair said. "Lenders are interested in this project."
The project will break ground in 2019 and deliver in 2023. A contractor and any leasing brokerages haven't been selected yet.
The development will sit on six currently unoccupied acres between the Best Buy at 5133 Richmond Ave. and the Broadstone Post Oak apartment complex. Chicago-based Skidmore, Owings & Merrill LLP is the architect, and Houston-based Patrinely Group will manage the project.
The owner of one of the last undeveloped parcels of land in the Galleria area has sold the nearly six-acre tract.
The seller was Dubai-based Deyaar Development Corp. McAlister Real Estate, which announced the sale Monday, represented Deyaar in the transaction.
An entity affiliated with Houston Texans owner Bob McNair is the buyer. Property records show the new owner as Palmetto RPO LP, which is located at the same address as the Robert and Janice McNair Foundation. In addition to the Texans, Bob McNair is the owner of Palmetto Parnters Ltd., a private investment company that manages the family’s public and private equity investments.
I don't have any pictures but there were trucks and equipment all over the site. Looks as if they were doing soil test and early prep work but something was definitely happening there today!
Exclusive: McNair Interests planning $500M mixed-use in Uptown
By Cara Smith – Reporter, Houston Business Journal
Jun 4, 2018, 9:00am CDT
For its first mixed-use development, Houston-based McNair Interests plans to enter the market with a splash.
In 2019, the private investment and management company will break ground on a 1.2 million-square-foot luxury mixed-use development at the intersection of Richmond Avenue and Post Oak Boulevard, McNair Interests' chairman and CEO Cary McNair told the Houston Business Journal. It'll boast all the components of a high-end district: luxury residential units, a roughly 350,000-square-foot Class A office tower, around 30,000 square feet of upscale retail, chef-driven restaurants, green space and a 150-room Rosewood Hotel.
"I don’t know that there are very many projects like this around the country," McNair said."We feel like we’ve been a little bit of a rogue investor, and maybe we’re breaking new ground."
McNair estimated that the project's cost will be around $500 million. McNair Interests will wholly fund the project through typical real estate finance sources and lenders.
"We're having good discussions," McNair said. "Lenders are interested in this project."
The project will break ground in 2019 and deliver in 2023. A contractor and any leasing brokerages haven't been selected yet.
The development will sit on six currently unoccupied acres between the Best Buy at 5133 Richmond Ave. and the Broadstone Post Oak apartment complex. Chicago-based Skidmore, Owings & Merrill LLP is the architect, and Houston-based Patrinely Group will manage the project.
Rosewood Hotels & Resorts to Open Hotel in Houston's Uptown District
HONG KONG, June 4, 2018 /PRNewswire/ -- Rosewood Hotels & Resorts® has been selected by McNair Interests to manage a new, ultra-luxury hotel in Houston.
Set to open in 2023, the hotel will be Rosewood's second in Texas and their ninth in the United States. Ideally located in the city's exclusive Uptown District, the hotel will be near several of Houston's most popular sites including The Galleria, Texas' largest luxury shopping destination, and the Texas Medical Center, the largest medical center in the world.
The Rosewood hotel will consist of 150 rooms and will be located in an exclusive mixed-use and high-rise development led by McNair Interests, managed by the Patrinely Group and designed by Skidmore, Owings & Merrill LLP, a leading international architecture firm. In addition to the hotel, the six-acre site will include 80 luxury residences atop the hotel, multi-family residences, lifestyle-driven amenities, and retail and office space in Houston's highly covetable Uptown District.
Boasting two distinct dining venues, including a full-service restaurant and a vibrant outdoor pool bar, the hotel will offer visitors a sophisticated urban dining experience. Guests will also have access to Sense, a Rosewood Spa, as well as an outdoor pool and fitness center. The property's extensive meeting and events spaces will accommodate a variety of private gatherings, conferences and special events.
This project reminds me of the stuff they are building in Uptown Dallas. There have been at least 3 recent projects where two towers share a podium. Like the PwC building by Klyde Warren park. This looks to be in the same height range too.
(Not trying to create a city vs city fight, just expressing an opinion based on observation of the real world.)
While at the Preston parking garage demo I talked with a Harvey worker who said they have the contract for the second tallest building. Construction is expected to start next year and lots of the workers building the Camden Conte will transition over to it, including him. He said this will be a 7 year long project but didn't know if they won contracts on all the buildings.
Quote:
Talked with a different worker at the Preston demo who seemed to know more details. He said they will start utilities work this summer and Harvey actually has the complete contract for all the buildings.
Architect: House & Robertson
Groundbreaking: Early April 2021
Completion: December 2024
Tower 1: 751’ ft, 54-story multifamily/condo high-rise
Tower 2: 18-Story office
Tower 3: 10-story hotel
All parking below grade