|
|
2/20/20
|
Hunington Properties has obtained a $38 mil construction loan for the development of a 126.5k sf, mixed-use multifamily project. The six-story apartment building, located on 1.38 acres at 1107 Shepherd Dr in the Montrose/River Oaks submarket of Houston, will include 168 residential units, 20.5k sf of ground-level retail space, and an above-grade parking structure with 305 spaces.
The tenant amenities at 1107 Shepherd Drive will include a rooftop deck, resort-style pool, outdoor kitchen, fitness center with vinyl plank flooring, clubhouse with quartz surfaces, business center, lush landscaping, dog park, outdoor space with stadium seating, and a leasing office. Each unit will include a full stainless-steel appliance package in the kitchen with an electric range and oven with vent-hood and built-in microwave, and a washer and dryer in the unit. Select units will feature balconies or private patios.
Financing for the project was arranged by Greystone Capital Advisors and provided by Parkview Financial. Construction has now commenced with anticipated completion for mid-2021.
The Houston area is home to 20 Fortune 500 headquarters, while many other Fortune 500 companies maintain administrative headquarters in Houston. The Houston apartment market is comprised of 574,739 units in 23 geographic concentrations ranging in size from the 55,527-unit Montrose/River Oaks submarket to the Baytown/San Jacinto River East submarket, which accounts for 8,174 units.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
