Houston: Tall buildings, steep prices in River Oaks DistrictHouston: Tall buildings, steep prices in River Oaks Districthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=27122014-10-22T09:00:00Z2014-10-22T09:00:00Z

HOUSTON - The River Oaks District is one of the largest real estate developments in Houston's urban core. A number of luxury brands, including Cartier, Dior, Herm├Ęs and Tom Ford, have signed agreements to operate stores in the 15-acre complex.

Residential developers are staking their claims on the remaining parcels of land behind the former Westcreek apartments on Westcreek Lane.

Their plans include a cluster of tall buildings to house well-to-do Houstonians who can pay the steep prices that come with living next to one of the city's newest and flashiest mixed-use developments.

"People will be able to walk to restaurants, high-end retail and theaters. It's something that hasn't been offered in Houston," said Robert Bland of Pelican Builders, which is planning a 17-story residential tower on Westcreek Lane.

Bland plans to break ground on the 96-unit building on a 1.5-acre site next summer and have it open two years later. Individual condominiums will average 2,000 sf, and prices will range from $800,000 to $2 million.

Nearby, Randall Davis is in the early stages of planning a condo tower on nearly two acres, developers are building the 25-story SkyHouse River Oaks and Gables Residential is planning to break ground on a 15-story apartment.

An office building, a hotel and two additional high-rise apartment buildings are planned on the remaining Westcreek property.

High-density development will increasingly take the place of low-rise buildings in desirable, close-in areas as more people want to live in the city center and land becomes more expensive.

Additional traffic, Bland said, is the price of progress. However, he also points out that the number of new residential units proposed on the old Westcreek site won't be much higher that what was there originally.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/columnists/sarnoff/article/Tall-buildings-to-arise-near-River-Oaks-District-5828150.php#/0Read more at {Source}

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