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Old Posted Sep 2, 2015, 5:19 PM
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Lightbulb HOUSTON | Chelsea at Museum District | FT | 18 FLOORS

Developer: Deccan Development
Architect: ?
Type: Residential (96 units)
Location: Blodgett Street, near Crawford & La Branch, Museum District
Construction Timeline: October 2015 Start Date - Early 2017 Completion

http://crowd-lender.com/CampaignDetails.aspx?campid=14



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Deccan Development (Sponsor) is constructing a 95-unit, luxury multi-family complex (“The Chelsea”) in Houston, Texas. This project is located in the highly desirable Museum District area, within 2-3 miles of the two major employment hubs, Texas Medical Center and Downtown Houston. The Chelsea fills a need in the Museum District for luxury high-rise apartments that are competitively priced, have a full set of amenities, and have a more exclusive feel compared to older buildings or newer luxury complexes that are much denser.

The total project cost is estimated to be $34.5 million, of which $14 million (40.6%) is equity, and $20.5 million (59.4%) is debt.

The land has been procured, and pre-development work is well under way. The City of Houston has granted planning pre-development approval; Soil testing and environmental surveys are complete; Architect and Engineering plans are close to completion. Developer expects to break ground in October, 2015. The construction period is 18 months.
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  #2  
Old Posted Sep 2, 2015, 5:21 PM
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How gaudy.
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Old Posted Sep 3, 2015, 6:04 PM
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Waiting to see a more detailed rendering; the project is a big improvement over whats on the site as of now.
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Old Posted Sep 4, 2015, 12:27 AM
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Originally Posted by Sic'EmBears View Post
How gaudy.
So it would fit in up in Dallas?
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Old Posted Oct 13, 2015, 3:56 AM
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Rendering:

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Old Posted Oct 13, 2015, 4:18 AM
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Looks good. Another high-rise about to get underway in Houston!
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Old Posted Oct 13, 2015, 4:29 AM
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Looks like crap. I don't like it when they try to do historic architecture but fail miserably at doing so.
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Old Posted Jan 28, 2016, 5:03 PM
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Old Posted Jan 30, 2016, 11:42 PM
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Site being cleared:

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Old Posted Feb 2, 2016, 5:21 PM
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c/o Swamplot:

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Old Posted May 24, 2018, 5:07 AM
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Information from 'houstontexasjack' on HAIF today...

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According to the developer’s office, they are targeting a late 2019/early 2020 groundbreaking for this project. The current discussion centers around ground floor retail featuring a coffee shop/bakery, small grocery store, and a “high-end” hair and nail salon.
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