Houston: 269-unit Alexan Blaire House to Medical Center

HOUSTON – Alexan Blaire House, a 269-unit, Class A luxury apartment community, will be developed on a 4.2-acre tract located two miles from the Texas Medical Center.

The total project is expected to cost $48.6 million, or about $181,000 per unit, according to a filing with the U.S. Securities and Exchange Commission.

The filing notes that approximately 70 percent of the project will be one-bedroom units, and the remaining 30 percent will be two-bedroom units. Units are expected to average 894 sf.

In order to cater to the area’s high-income demographic, the community will feature best-in-class interior finishes, larger-than-average floor plans on account of limited supply, premium appliances, a pool, a fitness facility, a concierge and a business center.

Trammell Crow Residential and Bluerock Residential Growth REIT will develop the community.

The project is expected to break ground third quarter 2015 and be complete 4Q 2017.

The two companies are collaborating on another Houston-based project, the Alexan CityCentre, a 340-unit, Class A community slated for completion in 2016.