|Everything isn't always bigger in Texas, micro-unit condo project attracts Houstonians||Everything isn't always bigger in Texas, micro-unit condo project attracts Houstonians||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=11989||2016-02-03T06:00:00Z|
HOUSTON - Maybe bigger isn’t always better in Houston real estate.
Novel Creative Development LLC has yet to break ground on The Ivy Lofts, the first “micro-unit” condominium project in Houston.
However, the 24-story, 550-unit project already has dozens of buyers lined up to purchase condo units as small as 300 sf.
The tower is planned for a 1.4-acre city block, bounded by Leeland Ave., Nagle St., Pease Ave. and Live Oak St. in East Downtown.
In late January, the developer held its first major sales event, which attracted more than 100 people. Re/Max Inner Loop, which is handling the marketing and sales for the project, said it secured sales reservations for 65 units inside
Interest in tiny home living is growing in Houston, long known for its Texas-sized homes. Novel Creative Development hopes to bring the micro-unit concept—units that are less than 500 sf—to Houston's up-and-coming EaDo neighborhood.
Ivy Lofts, designed by Powers Brown Architecture, will feature four floor plans ranging from 300 sf to 942 sf. The majority of the units—about 60 percent—will be less than 500 sf and feature luxury finishes, a balcony and transformable furniture and sliding walls.
Prices start from $119,000 for a 300-sf loft. The larger units—700-sf units and above—start from $375,000.
Novel Creative Developments plans to break ground on Ivy Lofts in June 2016, with delivery expected by the end of 2018.
|Houston Business Journal||Houston-The Woodlands-Sugar Land||Multifamily|| http://www.bizjournals.com/houston/news/2016/02/02/houstons-first-micro-unit-condo-project-attracts.html|
See EaDo Houston for more information on the upcoming area.