Luxury Residential Towers Coming To Sugar Land

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SUGAR LAND, Texas--(BUSINESS WIRE)--Feb. 7, 2005-- The urban living trend, readily found in downtown Houston, is now burgeoning in Sugar Land, Texas. Threshold Interests One, L.P. has announced that they will begin construction on two major residential projects that will introduce Sugar Land to luxury high-rise living.

Pre-construction sales have begun on Lake Pointe Vista; a new luxury mid-rise residential project in Lake Pointe Town Center -- a 190-acre, urban-style village that will be located at the intersection of Highway 6 and U.S. 59 in First Colony. Additionally, Threshold Interests is planning to develop a 10-story luxury tower, the Tower Lofts located in Sugar Land Town Square.

"Urban living is gaining momentum in Sugar Land, and the development of these luxury mid- and high-rise homes represents a shift in the character of the Sugar Land residential property market," said Les Newton, president of Planned Community Developers (PCD). "Lake Pointe Vista and the Tower Lofts will bring a new 'urban residential' lifestyle to Sugar Land."

Lake Pointe Vista

Lake Pointe Vista architectural features will include 11- to 13-foot finished ceiling heights with extensive floor-to-ceiling windows, wraparound terraces and high-end fixtures throughout. In addition, homeowners will have the ability to customize floor plans by combining units in order to create larger residences. The one-bedroom to three-bedroom units will range in size from 1,300 to 2,400 square feet and be priced from the high $200,000's to over $1 million. Lake Pointe Vista will offer homeowners incredible lakefront views from all 36 units in the 6 residential floors.

Lake Pointe Vista will be located in the heart of an emerging town center in First Colony called Lake Pointe Town Center. Lake Pointe Town Center will lie between the 37-acre lake and 1.5 mile of frontage on Oyster Creek. Lake Pointe Town Center will integrate one million square feet of office space and more than 200,000 square feet of retail space, with a boardwalk and trail system that will connect residence to unique restaurants, retail shopping, and the new Lifetime Fitness Center.

"We are very excited about moving into the First Colony market with our new project," said Ric D'Amico, project manager for Threshold Interests One, L.P. "Lake Pointe Town Center will provide a unique opportunity in Sugar Land, creating a new residential lifestyle within a beautiful, natural environment.

The Tower Lofts at Town Square

The Tower Lofts at Town Square will provide a new option for Sugar Land residents who want stylish living and premium service in a true downtown setting. Tower Lofts is being built for sale within Planned Community Developer's 32-acre Sugar Land Town Square lifestyle center that offers short walks to Cafe Express, PF Changs, Perry's Steakhouse & Grille and Baker's Street Pub & Grill, among other notable tenants. This desirable location will help target prospective residents seeking a true 24/7, live-work, urban lifestyle. This development will also capture a distinct blend of historic charm by implementing design elements of the original Imperial Sugar factory's architecture with twenty-first century amenities focusing on interior design, exquisite finishes and unparalleled horizon views.

"This will be the first luxury high-rise in Sugar Land, and it represents a significant step in the growth and vitality of downtown Sugar Land," said Newton. "This project will enhance the lifestyle-center atmosphere of Sugar Land Town Square and truly integrate the concept of live, work and play, because it will be within walking distance of some of Sugar Land's finest shopping, dining and entertainment."

Located near the corner of Town Center Boulevard North and Highway 6, Tower Lofts at Town Square is planned to be a 10-story tower building of approximately 50 units. These loft-style units, with individual unit sizes of 700-1300 square feet, will offer buyers the opportunity to combine units in order to create a substantially larger custom residence. In addition, homeowners will also be given the choice to tailor their traditional, transitional or contemporary home through a selection of premium finishes for flooring, countertops, cabinets and appliance packages. Each of the one to three bedroom units will boast 10- to 13-foot ceilings and panoramic views. The units will be priced beginning in the $200,000's with combination unit possibilities likely exceeding $1 million.

"Tower Lofts at Town Square will provide a choice in high-rise living that is not currently available in the Sugar Land market," said Doug Crosson, president of Threshold Interests One, L.P. "We were attracted to the Sugar Land Town Square development because of the strong, overall market. We are confident that our design team's creation will be well-received by homebuyers looking for a prestigious, and yet, low-maintenance lifestyle."

Construction on both projects, designed by Zeigler Cooper Architects, is scheduled to begin this summer, with first units available in summer of 2006. For further information on these two projects or on pricing and floor plans, contact the marketing team at 713-523-5638.

Ziegler Cooper Architects, whose expertise includes high-end condominium projects such as Villa d'Este, and Montebello in Post Oak Uptown Park, as well as Threshold's Waterway Lofts will serve as architects on these projects.

Threshold Interests One, L.P. is a real estate development company specializing in niche markets requiring individual attention and unique product knowledge, as demonstrated in the firm's recent success with the Waterway Lofts in The Woodlands, Texas, the Hermann Lofts and the Bayou Lofts condominium project downtown. The firm was established in 1991 by Douglas R. Crosson, whose real estate experience also includes the re-construction of the historic Pillot Building, Houston's second oldest commercial building.

Planned Community Developers (PCD) is the developer of the 9,700-acre First Colony master-planned community in Sugar Land, Texas. In addition to overseeing the development of Lake Pointe Town Center and Sugar Land Town Square, PCD is also currently supervising the development of River's Edge, a new 370-acre community in Richmond, Texas. PCD focuses on community master planning, high-quality retail and residential development.