Greystar selling Houston apartment tower

Houston’s Uptown is abuzz with the news of Dominion Post Oak going up for sale. The luxurious 230-unit complex was valued last year at $78 million, according to the Harris County Appraisal District.

South Carolina-based developer Greystar listed the 31-story tower with JLL’s Dustin Selzer, Matt Kafka and Jett Lucia. Apartments in the 330,000-square-foot building rent in the range of $2 to $2.50 per square foot, according to Apartments.com. Units from 650-square-foot studios to a 2,400-square-foot three-bedroom rent for $1,628 to $4,904.

The tower was the second residential high-rise to hit the Houston area upon its completion in 2004, according to marketing materials. It is located between San Felipe and Westheimer on Post Oak Boulevard just outside the Inner Loop. Post Oak Boulevard has undergone significant updates since 1999 to transform the Uptown district into a more pedestrian-friendly, walkable urban environment via the Boulevard Project. This $192 million public investment in Post Oak Boulevard has transformed Uptown into one of the city’s hottest locations for luxury shopping, dining and living.

Houston’s only Forbes Five-Star rated hotel hit the area in 2018 with the completion of the Post Oak Hotel at Uptown Houston. The ultra-luxury hospitality project has been followed by a slew of upscale multifamily expansions. Development firm Deiso Moss is building a 43-story multipurpose tower at 2120 Post Oak Boulevard in conjunction with architecture firm Ziegler Cooper. The still-unnamed mixed-use project, which is slated to break ground later this year, will consist of 100,000 and 25,000 square feet of office and retail space, respectively, as well as a 350-unit residential building. Dinerstein Companies opened its 383-unit Aspire Post Oak high-rise apartments at the beginning of 2022. 

Houston’s Uptown District has not only become the city’s premier site of luxury, but also renters. Between 2012 and 2022, renters increased by 63 percent from 7,800 to over 12,600 in the region. Rent Cafe ranked the area as the ninth largest conversion of buyers to renters in the nation with 57 percent of the area now consisting of renters.