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Old Posted Jan 16, 2019, 12:13 AM
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HOUSTON | The Hawthorne | FT | 17 FLOORS | DEMO

Developer: Pelican Builders
Architect:
Type: Condos, 67 units
Location: 5656 San Felipe, Uptown
Construction Timeline: October 2019 Start Date - ? Completion

Mission Capital Arranges $7.3 Million of Financing for Pelican Builders’ Acquisition of Houston Development Site

Quote:
HOUSTON (Jan. 3, 2019) — Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged a $7.3-million non-recourse land loan for the acquisition of 5656 San Felipe Street, a 1.26-acre development site in Houston. The borrower, Houston-based Pelican Builders, is working to finalize plans for an as-of-right, 17-story condominium project, which will include 67 luxury residences and 191 parking spaces. The Mission Capital team of Jason Parker, Steven Buchwald and Alex Draganiuk arranged the financing from a national real estate finance company.

Located at the nexus of the highly desirable Galleria/Uptown and Tanglewood neighborhoods, the 322,708-square-foot property will provide the area with much-needed luxury residential product. Current plans for the development call for 67 well-appointed residences with on-site amenities that include a pool deck, resident lounge, state-of-the-art fitness center and a dog park. The project is expected to break ground in October 2019.

“Pelican is one of most seasoned condo developers in the region, and we received a lot of interest from capital providers interested in providing them with the land loan that will pave the way for the condo development,” said Parker. “With the property’s strong location and the unmet demand for luxury condos in this prime area of Houston, we were able to structure favorable financing with a national real estate finance company.”
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Old Posted Mar 19, 2019, 10:34 PM
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Some residents in the nearby Tanglewood neighborhood are against this project:

https://protecttanglewood.com/
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Old Posted Apr 9, 2019, 3:58 PM
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Old Posted Jun 14, 2019, 8:29 PM
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Multifamily developer moves forward on Galleria-area condo tower

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Houston-based Pelican Builders Inc. has released more details about its plans for a condo tower in the Galleria-Tanglewood area.

News broke in January that the company would buy a 1.26-acre site at 5656 San Felipe St., the northeast corner of San Felipe and Chimney Rock Road, to build a 17-story condo tower with 67 luxury residences and 191 parking spaces.

Now, that project has been dubbed The Hawthorne, named for "Tanglewood Tales" author Nathaniel Hawthorne, according to a June 14 press release.

Houston-based Kirksey Architecture is designing the building, while Lauren Rottet of Houston-based Rottet Studio is the interior designer, per the release. The Sudhoff Team will handle sales and marketing, and a sales center is expected to open this summer. Renderings also are expected to be released when the sales center opens.

Units will average 2,700 square feet in size and start at $1.3 million, per the release. Amenities will include centralized Wi-Fi, voice-controlled home automation and sizable outdoor terraces.

Pelican decided on the location in order to target the "underserved area west of the 610 Loop that would appeal to downsizing residents in Tanglewood, Briarcroft, Briargrove and the Memorial Villages," the release states.
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