The Revere, a nine-story, 32-unit condo task underway in Houston.Source: Pelican Builders
Houstonians preferring to reside in among the city’s most unique areas will soon have a brand-new choice, thanks in part to a devastating cyclone.
Pelican Builders is starting construction for The Revere, a nine-story, 32-unit condo job that demonstrates how the realty market in the country’s fourth-largest city is changing after Cyclone Harvey wreaked havoc one year back.
The task at 2325 Welch St. is developed to look like a New york city City walkup neighborhood. It’s being established less than a mile from River Oaks Country Club and is surrounded by what Zillow says is 3 of Houston’s five most pricey domestic streets.
Houston’s apartment sales jumped after Hurricane Harvey dumped 51 inches of rain on the city, damaging countless homes and triggering Houstonians to look for alternative housing. In between tasks like Arabella and Astoria, high-profile condo developments are popping up all over Houston and more are on the way, like Alpharetta, Georgia-based Stolz Partners’ store seven-story, 32-unit Giorgetti.
High-end apartments are changing Houston’s costly property real estate market as potential purchasers are more happy to consider them over single-family homes. Projects like The Revere could have been constructed without Harvey, however the post-storm modification in attitudes toward apartments aids with demand for such advancements, brokers say.
Nancy Almodovar, CEO of Houston-based Nan and Company Properties/Christie’s International Realty, just recently told the Houston Association of Realtors she is seeing a shift where her customers are now split 50-50 between condominiums and houses.
Marketed by Sudhoff for several months, The Revere is breaking ground after offering 16 of 30 units ranging in price from $1.6 million to $2.6 million, reports the Houston Service Journal.
The high-end systems will feature 11-foot high ceilings, large windows, hardwood floors and customized cabinets. Units range from 2,800 to 3,800 square feet.
Houston-based Kirksey Architecture designed the job while Ludlow & & Associates Building, also of Houston, is the general professional. IBC Bank supplied the building loan.
Pelican Builders’ Robert Bland is responsible for hundreds of condominiums throughout Houston.
Pelican’s other current apartment project, The Wilshire, a 17-story community less than 3 miles from The Revere, is eight units far from being sold out.