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Old Posted Sep 1, 2006, 6:00 PM
Cory Cory is offline
fka WesternGulf
 
Join Date: Jun 2005
Location: San Francisco
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Last updated: August 31, 2006 10:23pm
$70M Condo Project Grows in Scope, Size


PASADENA, TX-When luxury condo project Endeavour Parkside came to the drawing board last spring, it was envisioned as a 20-story, 129-unit project with a $35-million price tag. Three months later, it's a $70-million design with 34 stories and 146 units due to the success of its neighbor, Endeavour Clear Lake.

"Projects evolve as they go along," says Robin Parsley, president of Endeavour Holdings Inc. in Austin. "We were originally trying to keep this at 20 stories, and the next thing we knew, we were at 29 stories, than 30, than 34."

Parsley tells GlobeSt.com that demand for larger units and more of them helped to spur the increase. "We didn't necessarily increase the number of units that much. We're up to 146 units from 129," he says. "But we increased the size." The unit sizes for the project at 4949 NASA Rd. 1 go from 900 sf to 3,000 sf. Prices range from $300,000 to $3 million.
The developer has a 30-story, 80-unit project under construction in Clear Lake, which broke ground in April. Penthouses, especially, are in demand with both projects, Parsley continues. "People are interested in large penthouses," he says. "We're totally out of penthouses at Endeavour Clear Lake so we're delivering more of them with Parkside."

Endeavour Parkside, which will be on the site of what is now Parkside Marina, will break ground in early 2007. It has a 14-month construction schedule. Parsley says the marina building will be torn down within 30 days.

InSite Architecture Inc. of Cypress, TX designed the Parkside project. N Sky Construction, part of Endeavour Holdings, is the general contractor. Endeavour is handling sales in house.

Once Endeavour Parkside is completed, the company's next goal is development of a six-acre parcel in nearby Seabrook. "I think that's the best site on the lake, and we're looking at more of a mixed-use development on this," Parsley says. Though the actual development is several years off and plans far from finalized, it could include a high-density residential component along with retail, restaurant and office space.

http://www.globest.com/news/700_700/.../148732-1.html
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