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Houston's Midtown and development beginsHouston's Midtown and development beginshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=74102013-05-13T07:18:00Z2013-05-13T00:00:00Z

HOUSTON - Midtown today reveals an area exploding with potential. Developers who have held on to land for years are now starting to develop. Here’s a sampling of projects underway in Midtown.

Pearl Midtown by The Morgan Group will sit on 1.14 acres at 3101 Smith St. The urban, 154-unit, Class A apartment community will stand five stories and is set for a January 2014 completion. It will include a mix of one- and two-bedroom units that average about 850 sf. Construction costs are estimated at $13 million, according to state filings.

Midtown Broadstone by Alliance Residential Co. is located at the corner of 3800 Main St. The six-story, 203-unit project broke ground in January 2013 with plans to include four floors of apartments above a two-story, 284-space parking garage. Construction costs are estimated at $18 million, according to state filings.

In first quarter 2012, both Class A and Class B office asking rents averaged $25.16 per sf. In the same period this year, the average asking rents for both classes inched up to $25.79, according to Jones Lang LaSalle Inc.’s Houston office statistics.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Mixed-Use
http://www.bizjournals.com/houston/print-edition/2013/05/10/midtown-and-development-a-love-story.htmlRead more at {Source}

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