Posted Mar 26, 2017, 5:58 AM
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Moderator
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,346
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Tour Hines’ luxury apartment tower in Houston’s Museum District
Quote:
Hines Interests has unveiled its latest luxury apartment project in Houston: The Southmore.
The Houston developer is finishing out the 24-story, 233-unit high-rise project, located at 5280 Caroline Street. The tower, which features 18-stories of Class A units over a six-story parking garage, stands across from the Asia Society Texas Center in the Museum District.
The Southmore features a variety of units, ranging in size from 850 square feet to 1,900 square feet, with 14 penthouse units on the top two floors ranging from 1,450 square feet to 3,000 square feet. Rents for the average units range from $2,200 to $6,400 per month. Penthouse rents range from $5,500 to $13,000 per month.
Greystar, the property manager for The Southmore, has leased 14 percent of the units so far, including four penthouse units. The tower, which opened earlier this year, is currently 6 percent occupied.
Hines has finished building out the interiors for about half of the units, up to floor 12, in The Southmore. The developer is now under construction on a pocket park and is working to find a restaurant operator for a 3,000-square-foot retail space on the ground floor of the building. Hines expects to complete the entire project by May.
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