Get it while it's hot: Houston luxury condos presale over 40 percent of unitsGet it while it's hot: Houston luxury condos presale over 40 percent of unitshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=109692015-10-29T05:00:00Z2015-10-29T18:00:00Z

​​​HOUSTON - Two luxury condominium towers in the Galleria area have sold nearly half of their units despite being months away from completion.

Pelican Builders Inc. recently announced it has sold more than 40 percent of The Wilshire at River Oaks, a 17-story, 96-unit condo tower at 2049 Westcreek Ln. The Wilshire broke ground August 4.

Earlier this fall, Randall Davis Co. disclosed it had sold more than 45 percent of Arabella, a 33-story, 99-unit condo tower at 4521 San Felipe. Arabella is expected to break ground in October.

Both Arabella and The Wilshire will be built on the site of the former Westcreek apartment complex near Westheimer Rd. and the 610 Loop in the Galleria area.

The projects are located within a short walking distance to the River Oaks District, a luxury mixed-use complex featuring 252,000 sf of ultra high-end retail, restaurants, cafes and amenities at 4444 Westheimer Rd.

Sales of luxury condominium units in trophy towers has remained steady despite the oil slump.

These high-end condominium towers are attracting empty-nesters downsizing from suburban mansions, as well as working professionals who want an easy-to-maintain, lock-and-leave home to suit their traveling lifestyle.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2015/10/26/luxury-condominium-units-selling-fast-in-the.html?iana=ind_creRead more at {Source}

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