Luxury Residential Towers In Sugar Land

[111486]

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.

[texasboy]

http://harpictures.marketlinx.com/MediaDisplay/61/hr1475561-1.jpg

Currently under construction

Prices range from $240,000- $700,000

I have actually looked at some of the prices at some of the condos in Sugar Land Town Square, and they swear to themselves they are located in downtown with those prices. lol.

[UrbaNerd]

Looks good, although..like you said..a tad overpriced. Thankyouverymuch, I think I'll take my 400,000, and buy a nice townhome inner-loop.

[brijonmang]

Not sure if i would consider that a highrise but i do like the look of it.

[kjb434]

Yeah, a high-rise for Sugarland, but a mid-rise in general.

I think the prices are a little ambitious. Hey, if they don't sell, they will only come down. Another thing to note, it is already under construction. This means some of them have already beenn sold or the financier didn't care and loaned the money out anyway.

[WestGrayGuy]

Wow!

Sugarland is growing up....literally.

The edge city phenomenon continues.

[LTAWACS]

Looks good, although..like you said..a tad overpriced.  Thankyouverymuch, I think I'll take my 400,000, and buy a nice townhome inner-loop.

<{POST_SNAPBACK}>

Exactly. Who lives there anyway? Tom Delay?

[LTAWACS]

Wow!

Sugarland is growing up....literally.

The edge city phenomenon continues.

<{POST_SNAPBACK}>

I would hardly call this a phenomenon.

[kjb434]

What does Tom Delay have to do with it?

Also, I'm proud of Sugarland. This small humble town has grown with some sense into a real nice suburb. Also, it is an incorporated town. That's fairly impressive too. The city has controled the development to make it work to their advantage versus just lettting it run wild.

[WestGrayGuy]

No,

I am referring to the "Edge City" phenomenon cited in the book by Joel Garreau Edge City: Life on the New Frontier.

Sugarland is fast becoming a city on the edge of another city.

[VelvetJ]

I don't know, those prices may be worth it very soon. Have you guys been down there recently? I was just there on Monday evening and the atmosphere there was fantastic. People around the fountain, sitting outside alfresco, walking families, and busy retail. Then about a block away, I saw the construction of the new section of First Colony Mall with the new Cheesecake Factory and the lush landscaping with it's new towering Palms. Not to mention all of the other amenities close by and the other construction going on. All of that is just a hop skip and jump from those new "lofts". Those things are going to be in the heart of a heck of a lot of activity and it will all be walkable. I would love to live there.

[LTAWACS]

I don't know, those prices may be worth it very soon. Have you guys been down there recently? I was just there on Monday evening and the atmosphere there was fantastic. People around the fountain, sitting outside alfresco, walking families, and busy retail. Then about a block away, I saw the construction of the new section of First Colony Mall with the new Cheesecake Factory and the lush landscaping with it's new towering Palms. Not to mention all of the other amenities close by and the other construction going on. All of that is just a hop skip and jump from those new "lofts". Those things are going to be in the heart of a heck of a lot of activity and it will all be walkable. I would love to live there.

<{POST_SNAPBACK}>

I dont know dude. It's too far from everything.

[jpcampbell]

I dont know dude. It's too far from everything.

<{POST_SNAPBACK}>

But it's not too far from itself.

Some people both live and work in the burbs. Don't always assume that everyone who lives out must then fight their way back to the inner loop if they want to do anything at all. There are lots of things going on down there that can occupy people's time.

That being said, if someone did commute in, I wouldn't pay 270-700K for a condo out there. For 300K, you can get a very nice small home in a place like Braes Heights. You could have a yard and a short commute.

[texasboy]

LTAWACS, I can see where you are coming from with the issue of sprawl, and I usually do not support it, but Sugar Land Town Square is worth a visit. Plus the area surrounding the development is very much established and not just in the middle of nowhere. I agree with Velvetj somewhat. The area is probably about 15-20 miles southwest of downtown off 59, but I can see why prices are somewhat on the steep side. If you visit the area, you will see that it is a very coveted area to be in. I know it sounds funny being a suburb, but minus the Tom Delay supporters, I love that area.

[kjb434]

Regardless of who supports who out there, the area is booming. The town center is a great attempt at densifying and unifying the region. Sugarland is taking the initiative to create there own urban space.

[swzine]

But it's not too far from itself.

Some people both live and work in the burbs.  Don't always assume that everyone who lives out must then fight their way back to the inner loop if they want to do anything at all.  There are lots of things going on down there that can occupy people's time.

That being said, if someone did commute in, I wouldn't pay 270-700K for a condo out there.  For 300K, you can get a very nice small home in a place like Braes Heights.  You could have a yard and a short commute.

<{POST_SNAPBACK}>

Exactly. I live and work in Sugar Land. One thing I have on most Suburban people (and a lot of urban people for that matter) is that my office is in walking distance of my home. I walk to/from work and home for lunch on most days.

Also - in line with something that someone else said about Sugar Land being an "Edge city". If you mean what I think, you're right. The projections show that Sugar Land is on track to become the second largest city in the Houston area - being second to only Houston itself. All of this is expected to occur by 2010 when the population is projected to be over 200,000. This will be not only from development, but also once they annex the areas within the ETJ (Greatwood, New Territory, etc) Right now the population is only around 70,000, but if you include the ETJ I believe the population is around 120,000 right now.

[UrbaNerd]

Plus..there is more coming. In lakePoint Town Center, there are at least two more condos coming, which should be similar in design to the ones present in The Woodlands (if the billboards on 59 are correct). The existing CityPlaza apartments have been popular, and this is probably why we are seeing such a proliferation of these residences in SL.

Now..we may be seeing even more of these in the Imperial Sugar development..which may be hoping for too much, due to the Perry involvement in the project, but, only time will tell what will happen.

Long live SugarLand!

[Gary]

I dont know dude. It's too far from everything.

<{POST_SNAPBACK}>

I respectfully dissagree. I can get from HWY6 and 59 to uptown in about 12 minutes. of course that's not possible during a morning commute but barring an accident it's not to far at all.

[LTAWACS]

I respectfully dissagree. I can get from HWY6 and 59 to uptown in about 12 minutes. of course that's not possible during a morning commute but barring an accident it's not to far at all.

<{POST_SNAPBACK}>

Hrm... I see what you're saying. but isn't the morning commute a critical time? you could end up losing alot of time just sitting in traffic. and unless you work in "uptown" what good is it?