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500 Crawford: Multifamily At 500 Crawford St.


lockmat

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Marvy Finger of the Finger Cos. has been called a trendsetter for developing one of the first new residential towers in downtown in years. Now several years old, his 37-story One Park Place just off Discovery Green is getting some of the highest rents in the city.

Sloniger said his company's new project will be an alternative to One Park Place. It was have the same high level of finishes and amenities, but the units will be smaller so the rents will be less. Rents are projected at $2.80 per square foot on units that will average 950 square feet.

There will be 361 units in all, about 70 percent of which will be one-bedrooms. The remaining will be primarily two bedrooms, but there will be some three-bedroom units.

The building will consist of a tower portion and six stories of units that will wrap around the garage and offer a lower price point. Other amenities will include a fitness center, bocce court, yoga room with a private lawn and an outdoor dog run.

Located at 1423 Texas, the building will have a 24-hour doorman, and 6,000 square-foot space on the ground floor will be reserved for a restaurant.

The top two floors will cater to the "urban elite," Sloniger said. Residents who live there will have their own private garage and a private club room on the top floor. The units will have higher ceilings and upgraded fixtures.

Of course the rents will be higher, too.

In general, the building is expected to attract young professionals, married couples and empty nesters.

"This is not your first-time renter," Sloniger said. "It's a move-up renter, a renter by choice."

The building should be completed in the summer of 2016.

http://www.houstonchronicle.com/business/real-estate/article/Projects-rise-near-ballpark-5856796.php?cmpid=twitter-premium&t=8b2afe02eaf1bd0534

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That section of the article quoted is actually referencing details for the 6 story base of Catalyst Houston, which also has a tower portion and is next door to Finger's 400-unit 500 Crawford.

Edited by tigereye
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One of mine. Viewed through the fence around the Catalyst lot. 11/22:

IMG_20141122001_zps1fb3cc33.jpg

That is good quality construction. Fein is one of the few developers using metal studs and fiberglass sheathing instead of wood studs and wood or paper sheathing. Hines did the same at the waterwall building.

If I was an institutional investor, these are the buildings I would want to buy.

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