Fortune

https://www.bizjournals.com/houston/news/2021/11/10/3-apartment-towers-ten-oaks-energy-corridor.html

3 apartment towers to be built at Ten Oaks development in Energy Corridor

A master-planned development at the Texas Medical Center’s West Campus in the Energy Corridor will be gaining a second apartment complex to accommodate a growing workforce in that area.

Miami-based AHS Residential acquired a 6.6-acre parcel in the Ten Oaks property from Houston-based Wolff Cos. last month and plans to build three 12-story apartment towers with a total of 576 units.

The towers will be right next to another future multifamily complex, The Vic on Park Row, for which development hasn’t started yet.

The yet-to-be-named AHS complex will have one- to three-bedroom units with open-concept kitchens with granite countertops, stainless steel appliances, in-unit washers and dryers, and central air conditioning. Amenities will include a pool, a multipurpose clubhouse with a 24-hour fitness center, complimentary Wi-Fi in common areas and private parking.

Construction is estimated to start in April, and the apartments are expected to be ready for move-in in February 2024, said Juan Fernandez, director of real estate development at AHS Residential.

Rents will be determined by the market at the time of delivery, Fernandez said, but probably be upward of $1,300 for a one-bedroom and $1,900 for a three-bedroom.

The company is fully vertically integrated and will develop, build and manage the project, he said. San Francisco-based Gensler is the architect.

This will be AHS Residential’s second project in Texas and first in Houston.

“AHS is growing tremendously, and Houston is an important market for our next phase of expansion,” Fernandez said. “We believe this to be a good location, with great access. The proximity to the hospital/medical center and other surrounding centers of employment certainly weighed on our analysis, and we believe our product will be well received.”

This was the last parcel Wolff Cos. sold after acquiring the 83-acre land for Ten Oaks in 1998, said Executive Vice President David Lane.

Over time, the company sold parcels to Texas Children’s Hospital; Houston-based Hunington Properties, which has developed The Shops at Ten Oaks strip center and plans to build The Vic on Park Row apartment complex; and Dallas-based Western International, which developed a Courtyard by Marriott and a Hampton Inn & Suites by Hilton on the site.

Wolff Cos. continues to manage the Ten Oaks property.

Next to Ten Oaks and part of the TMC West Campus is the Houston Methodist West Hospital.

Lane said while Wolff Cos. has been heavily invested in the Energy Corridor since its inception in the 1970s, continued industry diversification ensures that it remains a fast-growing area.

“A lot of the vacancy caused by the disruption in the energy market has begun to be absorbed by related and even unrelated technology companies,” he said. “You see that impact in the kinds of development that are coming out to places like Ten Oaks.”

However, the fact that Hunington Properties still hasn’t started construction of The Vic on Park Row — after acquiring the property in 2014 and planning a 2015 groundbreaking — speaks to a volatile multifamily market prior to 2020, Lane said.

With the pandemic contributing to a strengthening of the market, Lane expects for The Vic to get underway soon as well.

“I suspect this may give them the impetus they need to do so,” Lane said.

Hunington Properties did not respond to a request for comment before deadline Nov. 10.

I believe it is Restoration hardware. 

32 minutes ago, H-Town Man said:

Not sure if this will be mixed-use or just retail.

https://www.houstonchronicle.com/texas-sports-nation/astros/amp/Astros-Jim-Crane-expansion-Minute-Maid-Park-16596664.php

The article says mixed use development, so I'm not sure why that is being questioned. 

3 hours ago, kennyc05 said:

Giving the Post Oak a run for it's money 👀

If this is built as rendered it will blow The Post Oak out the water!

13 hours ago, toxtethogrady said:

Oh, does this not sound like a Modera development. Eleven buildings and five garages? I thought they were big on single-block projects.

Guess not in the suburbs. 

I agree with @dbigtex56. Why are the finished projects never moved from Going Up?

1 hour ago, zaphod said:

Kind of an unusual location for this style of building. I wonder if over time Highway 6 will get more built up through there.

I would not say that this style building is unusual for this location. There are already 2 similar garage wrapped apartment buildings in that direct area. H6 Apartments and Broadstone Energy Park. 

Reminds me of his proposed Paramount building that was cancelled, just shorter. 

This dealership is moving down to the South Loop. I believe there is already a thread on it

I think the current Greenspoint Mall owner is planning to tear down the mall and build an industrial park like Hines built across the freeway. 

Maybe Hanover will buy it . . . Fingers crossed!

Trademark Property Co. to Develop 82-acre Mixed-Use Town Center Project in Katy, TX – Trademark Property

Trademark Property hired for mixed-use project in Katy (chron.com)

A few years back there was a proposal for a large mixed use shopping center planned for that corner. 

That property has high visibility. . .  That design is horrendous. 

Why do they need to pump out ground water?

No. It will expand South and South East like it currently is.

1 hour ago, nyc_tex said:

How do they call it a warehouse district after destroying all the warehouses? 

If it was called "warehouse district" based on the two warehouses torn down how much of a warehouse district was it to begin with?

I doubt this is an active proposal. Most likely this is a proposal for the site prior to Houston Endowment purchasing the property. 

Why is this still under Going Up?

Link to survey about the I-45 North Houston Highway Improvement Project (I-45 NHHIP).

https://www.surveymonkey.com/r/2022UTP

St. Thomas is definitely involved. I am an alumnus and it was mentioned in the last newsletter. There was no information provided other than the name and that additional details will be provided in the future. 

32 minutes ago, arche_757 said:

I know Gillette is the thru street… it would have been a boon for this development (and area) if the developers could have bought the land all the way to West Dallas.  I wonder if there is any long term thinking on possibly buying that last parcel(s)?   Perhaps a little more mixed used will continue to inch along on West Dallas in the next few years?

What Parcel? They own all the land available all the way to the apartments Tinsely on the Park. which front West Dallas. Tinsley on the Park was built within the last decade I believe so I don't see them going anywhere anytime soon. 

I believe this is the second round of announcements for the food hall. Any details on retail and office tenants? 

Those parcels have been available for over a decade at this point. If they can't get anyone to do anything with the other 5 decent sized parcels I wouldn't hold my breath for that sliver.