HOUSTON | The Palazzi at Uptown Park | 16 FLOORS

[Urbannizer]

Owner: AmREIT
Developers: Patrinely Group
Architects: Kirksey, Solomon Cordwell Buenz, Ziegler Cooper
Type: Residential, Office, Hotel, Retail
Location: Uptown Park, in Uptown just off of I-610
Start Date: Late 2014
Cost: $1.2 Billion

*Low density strip malls; buildings in Uptown (and around Houston) being redeveloped for today and the future. This project will be built in Phases, as we learn more about other towers I may spin off more threads. Phase I is a ~30-Story luxury apartment tower with 20,000 square feet of retail.

Rendering:

Originally Posted by Houston Chronicle

Uptown Park to Alter area's Skyline

The owner of the Uptown Park shopping complex, where pricey spas, dessert shops and luxury boutiques occupy a series of Italianesque buildings surrounded by parking lots, wants to transform the highly visible center along the West Loop into a pedestrian-friendly enclave that could dramatically alter the skyline in the Galleria area.

Houston-based AmREIT, which has owned the 17-acre property for almost a decade, has designed a $1.2 billion project that would replace many of the low-slung buildings with high-rise towers filled with upscale housing, hotel rooms, offices and additional retail space. Parking would be built underground or within the new structures.

The spaces between the buildings would offer shade and landscaping in a setting conducive to pedestrian activity.

"We want to bring Uptown alive," AmREIT's chairman and CEO H. Kerr Taylor said of the property, off the West Loop at Post Oak Boulevard.

Taylor, whose development preferences have long been influenced by a post-college trip to Italy, envisions the project as having "almost a Florentine feel," where residents, workers and visitors will linger after walking to restaurants and shops.

The changes are expected to come over the next decade and could begin late this year with the first building tentatively scheduled to break ground.

AmREIT is in negotiations with a national developer to build a luxury residential tower at the site of perhaps 30 stories with 20,000 square feet of retail space at ground level. It would be developed where the stores Baker, Pelucha Decor and Bella Rinova are now.

The deal would be structured as a 99-year ground lease to the residential developer, but AmREIT would own the retail space and underground parking.

Altogether, the 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.

Uptown Park expansion When it's completed, Uptown Park could include luxury residential, office space, retail and a hotel. Here are the developer's projections:

Residential: more than 1,000 units in at least three buildings
Hotel: more than 300 rooms
Retail: an additional 100,000 to 150,000 square feet
Office: 850,000 square feet

Full Article: http://www.houstonchronicle.com/news...ne-5250104.php

Site for Phase I Residential Tower:



Site Plan:

[M. Incandenza]

Looks like a good effort at sprawl repair. Hope it survives as planned (or gets better!).

[Urbannizer]

More on the first tower:

Uptown Park's 360,000 square-foot luxury tower will break ground by the end of the year with completion slated for early 2017.

http://www.bizjournals.com/houston/b...k-project.html

[KevinFromTexas]

That rounded tower looks awesome.

[OhioGuy]

Always nice to see parking lots redeveloped!

[toxteth o'grady]

360,000 sf doesn't sound that big for something that's going to be 30 floors.

[Urbannizer]

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/

[Urbannizer]

Phase 1 has down-sized to 12-floors, and is now known as "The Palazzi at Uptown Park".

Originally Posted by Houston Chronicle

Houston company announces projects in Galleria area

One project would replace a previously announced proposal to build a high-rise in Uptown Park. The company now plans a "lower-profile residential project" there called The Palazzi at Uptown Park.

"I am very excited about the direction we are headed and the potential for significant value that our local sharpshooter team can create for stockholders as we develop the multifamily and retail project at The Palazzi at Uptown Park," chairman and CEO Kerr Taylor said in a news release that included details about the developments.

Phase Two:An 800,000 square feet mixed-use high-rise.

It is in negotiations with a four-star hotel brand and development partner for a mixed-use project at the southeast corner of Uptown Park. The project could include 243 hotel rooms, 234 residential units and up to 20,000 square feet of retail space. Total project costs are estimated at around $204 million, and construction could begin within the next 18 months.

http://www.houstonchronicle.com/busi...ew-5655319.php

[Urbannizer]

Phase 1 now up to 16-floors, but delayed to 2Q 2015.

http://blog.chron.com/primeproperty/...r-uptown-park/

The Palazzi at Uptown Park: A 16-story, 238-unit apartment building on 1.1 acres at the northwest portion of the Uptown Park property. The building would have 14,000 square feet of ground level-retail space. The total project cost, including land, is estimated at $134 million, and construction is expected to start in the second half of next year.

[H-TownChris]

It's 4Q and still nothing yet

[Urbannizer]

Originally Posted by H-TownChris

It's 4Q and still nothing yet

The new owners of Uptown Park placed it on hold shortly after purchasing it.

[Urbannizer]

The new owners will move ahead with this. A traffic analysis was conducted recently.

PAD 1 (Phase 1) - 251-unit residential high-rise above 14,500 sq ft of retail. (Up from 238 units, 14,000 sq ft).