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2111 Austin: Multifamily At 2111 Austin St.


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https://www.bizjournals.com/houston/news/2018/06/27/longtime-developer-returns-to-houston-with-new.html

 



Another new apartment project is coming to Midtown. 

 

The developers behind 2111 Austin, a 216-unit mid-rise apartment building at the corner of Austin and Gray Street, broke ground mid-June, a few years later than originally planned. 
 

H Midtown LP, a group that consists of Houston-based developer Winther Investment Inc. and other private investors, bought two pieces of land in October 2013 from San Antonio-based Gray Street Development LLC.  

 

Fred Ghabriel, a partner at Houston-based Bejjani & Associates Inc., represented H Midtown LP, while Greg Austin, who at the time was a partner at Berkadia/Hendricks & Partners, represented the seller. Austin is now a managing director at JLL

Frederic Gautier, president of Winther Investment, planned to start construction on a 1.4-acre tract in 2015 but decided to put the project on hold due to the oversupply of apartment projects around town and the economic situation surrounding the oil downturn. 

 

Now, the timing is right, said Mark Barron, contractor and project manager at LP Construction Management LLC. Houston-based Steinberg Design Collaborative is the architect.

 

“In 2015, it was crazy busy,” Barron said. “You’d drive down the street and everywhere you turn were apartment complexes. The high reached its peak then fell off. We want to jump in now when things weren’t as busy.” 

 

The project at 2111 Austin will be Winther Investment’s first project in the Houston area in two decades, Gautier said. The last project, The Park at Fairmont in Pasadena, was built in 1998. Since then, Winther Investment focused on projects in the Midwest and on the east coast, including two projects in Philadelphia. 

 

Gautier likes the location’s proximity to downtown in a “less congested” part of Midtown. Gautier wouldn’t disclose construction costs but $20.02 million worth of building permits were filed recently with the city of Houston. The construction loan is through Frost Bank. 

Units at 2111 Austin will range from 650-square-feet efficiencies to 1,400-square-feet three-bedroom units. The five-story building will sit on two stories of parking below. Rents will start at about $1,200 per month, Gautier said. 

 

Barron said the units will have carpet in the bedrooms and either engineered wood or vinyl plank in the living areas. He described the look as more traditional rather than contemporary, with crown molding and big trim baseboards throughout the units with modern features in the kitchen, such as oversized cabinets, stainless appliances and granite countertops. The building will likely have a fire pit, pool, courtyard, billiard room, conference room and package concierge system. 

 

The project should deliver in May 2020. Once complete, the group plans to break ground on the second phase on the second piece of land — another apartment building.

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https://www.houstonchronicle.com/business/real-estate/article/Houston-developer-starts-long-awaited-Midtown-13038743.php

 

Per the Chronicle:

 

It looks like the second block will probably be a 21-story high-rise and break ground in late 2019, early 2020.  Are we going to have multiple high-rises proposed/constructed in Midtown during this cycle?

 

 

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49 minutes ago, CREguy13 said:

https://www.houstonchronicle.com/business/real-estate/article/Houston-developer-starts-long-awaited-Midtown-13038743.php

 

Per the Chronicle:

 

It looks like the second block will probably be a 21-story high-rise and break ground in late 2019, early 2020.  Are we going to have multiple high-rises proposed/constructed in Midtown during this cycle?

 

 

I liked your post several times but you didn't see it.

 

Great news!

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On 7/7/2018 at 3:40 PM, MarathonMan said:

Is it just me, or does this building look really dated?  Not good something that hasn’t been built yet.

It reminds me of the Wortham Center and elements of the George R. Brown and the old Terminal D design at IAH (with the use of circular windows and the archways). Like something from the late 80’s.

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On 7/7/2018 at 2:40 PM, MarathonMan said:

Is it just me, or does this building look really dated?  Not good something that hasn’t been built yet.

 

Nope it’s not just you. It’s dated and unattractive IMO. Is it bad that I’m ready for it to be bulldozed before it’s even built? They need to go back to the drawing board on the facade with this one.

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1 hour ago, Texasota said:

you mean the red brick that doesn't start until the second floor? The red brick you'll barely be able to see instead of apparently yellow "stucco" if you're walking next to it? 

 

2 hours ago, Houston? said:

I think you all are being too hard on the design. I’m loving the red brick, which is something I wish developers would build more of here. It’s very classy to me. 

 

Looks like masonry limestone block... Could be OK... perhaps not ideal.

 

I am cautiously optimistic... or am I optimistically cautious? :P

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