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Old Posted May 2, 2016, 1:58 PM
Urbannizer's Avatar
Urbannizer Urbannizer is offline
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Join Date: Jan 2009
Location: SXSW
Posts: 7,766
Lightbulb HOUSTON | 2850 Fannin St | 328 FT / 100 M | 27 FLOORS

Developer: Caydon Property Group
Architect: Ziegler Cooper
Type: Residential, retail
Location: 2508 Fannin, Midtown
Construction Timeline: Jan. 2017 Start Date - 2018 Completion

Australian Developer Buys Two Sites in Midtown for 1,000 residential units

Quote:
Melbourne high-rise developer Joe Russo has secured two development sites in Houston, Texas, with plans for about 1000 apartments.

He paid about US$8 million ($10.5 million) for a small block in Houston's "latte and laptop" mid-town district with plans for more than 350 apartments over 28 levels.

Russo told the Australian Financial Review it had an end value of about $228 million.

He has also bought a second site across the road that will hold more than 600 apartments, with plans including shops and a piazza.

"I looked at five cities in the US and fell in love with Houston," he said.

"It's a growing city with 6.5 million people, the biggest medical precinct in the US. In the midtown area where I have acquired my sites, there's a lot of gentrification going on with bars and restaurants opening up and a new light rail in operation."
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Last edited by Urbannizer; Jul 28, 2016 at 8:51 AM.
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