Fairfield Residential’s Greg Pinkalla and renderings of 1010 Waugh Drive in Houston (City of Houston, Fairfield Residential)
Fairfield Residential continues soaring on multifamily in Houston with plans for a 14-story, $85M highrise adjacent to a Whole Foods in Montrose.
It will be the California-based developer’s 10th property in the Houston area, according to its website. Construction is expected to begin early next year, according to a Texas Department of Licensing and Regulation filing. The building will span about 630,000 square feet and should be completed in 2025.
The highrise, Fairfield at Waugh Drive, is planned for one of Houston’s premier submarkets, sitting between downtown and the affluent River Oaks neighborhood. The site is less than half a mile from Buffalo Bayou Park.
Renderings shown to the Houston Planning Commission last year depict two 14-story rises connected by a large outdoor patio and amenity area, although exact construction details have not been released by Fairfield. The city approved the proposed plans for the highrise in October.
It will be built at 1010 Waugh Drive, adjacent to a 21-story luxury multifamily highrise, the Sovereign at Regent Square, which was built in 2015.
It’s on the former site of a domestic abuse shelter, the Houston Area Women’s Center, which sold earlier this year; the shelter has moved and plans a new 360-bed facility. JLL Dallas facilitated the sale, but financial details were not released. The average annual household income in a one mile radius around the property location is $150,000, according to JLL Dallas.
Read more
Residential
Los Angeles
Apartment giant Fairfield Residential pays $62M for Valencia complex
Commercial
Houston
Alliance sells trendy multifamily in Houston’s ‘innovation corridor’