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  • 1 year later...

Another story in today's HBJ: http://www.bizjournals.com/houston/print-edition/2016/06/17/pelican-builders-plans-new-luxury-condo-in-river.html

 

Can anyone get behind the paywall of these stories and share more details about the project, including amenities, pricing, construction financing, and timing?

 

Architect is Kirksey

Edited by db650
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  • 2 weeks later...

The thing that always make me think about buildings this size (4-7stories above parking) is the type of construction.  If it is concrete slabs on each floor, then it is fairly quite.  Frame? Noisy.  Anyone know if this one (7 stories above parking) will be frame or concrete?  I assume concrete.  What is the COH fire code?  

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I believe you can only go up to six stories with wood. And given the prices, I'd be really surprised if this weren't concrete.

 

This is far more expensive than Randal Davis's Chateau Ten just around the corner and the Huntingdon is going for about $400 a square foot. I"d like to see them pull this off at these prices. I wonder if they don't want to undercut on price their Mimosa Place development around the corner. Even with the finest finishes, this building is crazy expensive for a  a mid-rise building with modest views at best and modest amenities (even without the oil crash). 

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HAR listings with floor plans. Note the crazy expensive price, and that many of the "cheaper" units under 2 million have only a handful of windows (at least from my read of the floor plans). Given the unusual shape and small size of the lot, the units are also very narrow. It's hard to imagine these will sell, especially given the glut of super expensive townhouse around the corner that aren't selling either and are actually cheaper. 

 

http://www.har.com/search/dosearch?region_id=1&for_sale=1&property_class_id=6&buildingname=The Revere At River Oaks

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  • 6 months later...

http://www.bizjournals.com/houston/news/2017/03/10/houston-developer-closes-on-river-oaks-area-land.html

 

Houston-based Pelican Builders Inc. announced March 10 it closed on the purchase of land for its next luxury condominium project, which will be between Houston’s River Oaks and Montrose neighborhoods.



 

The Revere will be at 2325 Welch St., at the southeast corner of Welch and Revere streets, right behind the Huntingdon luxury condo tower.

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It looks like Pelican Builders moved the sales center trailer that was at Mimosa Place to the Revere. Sales at the Revere are about 10 percent after one year of marketing, but I guess they are still trying to push this forward with the clearing of the land and movement of the sales center.

 

And what will happen to Mimosa Place -- the 18 story Pelican town home community down the road? Will this be a joint sales center now for the Revere and Mimosa Place? I believe that Mimosa Place is also not selling very well. They fenced in the (I believe 6) completed town homes away from the remaining vacant land, so I'm not sure if they are still planning to finish that development. 

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http://www.chron.com/business/real-estate/article/Houston-Pelican-Builders-condominiums-11951047.php#photo-13880722

 

Pelican Builders begins testing the market today for a condominium building near River Oaks with units priced as high as $2.6 million.



The Houston developer opened a sales center Wednesday for the proposed nine-story luxury condo building called The Revere. The 32 units would range from 2,800 to 3,800 square feet.

 

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https://www.bizjournals.com/houston/news/2017/08/24/developer-launches-sales-center-for-luxe-condo.html

 

Pelican Builders has pre-sold four units so far in The Revere at River Oaks, which represents a quarter of the way to reaching its pre-sale goal of 50 percent. Most lenders require condo developers to sell at least half of its units before extending a construction loan.

 

Derek Darnell, president of Pelican Builders, said he anticipates sales to cross the 50-percent threshold by Thanksgiving, at a sales pace of one unit per week.

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http://realtynewsreport.com/2017/12/11/new-condo-projects-turn-on-houston-buyers/

 

Another Pelican property showing brisk sales is nine-story boutique condo designed by Kirksey, is called The Revere, with 33 residences. It’s been several months since The Revere’s sales center opened, which coincided unceremoniously with Harvey wreaking havoc on Houston.



 

The response to The Revere has been so positive that we are committed to breaking ground in Spring 2018,” says Bland. “It’s truly a milestone event for Pelican Builders and confirms that there is a market for people looking for a hassle-free, luxury lifestyle in a River Oaks location – now more than ever.”

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