On the heels of completing its M-K-T project in the Heights, Radom Capital expects to see major progress on the Montrose Collective this year. Montrose Collective will offer 185,000 square feet of retail and office space, including a new Houston Public Library location, along with a pedestrian-friendly plaza and a parking garage. Construction began in February and is targeted for completion by the summer, with the first tenants set to open in the fall. The project held a ceremonial “topping out” event in late October, raising a rainbow-colored steel beam in a nod to the area’s LGBTQ community.
GID Development Group’s Regent Square, a mixed-use project near Buffalo Bayou Park between River Oaks and Montrose, is approaching key milestones in its Phase 2 build-out, which includes 600 multifamily units and 50,000 square feet of retail space around a pedestrian-friendly central plaza.
Topping out is expected in the first quarter of 2021, followed by preleasing of the apartment units in the third quarter.
The project’s retail, residential and plaza spaces are slated to be unveiled to the public by the end of the year.
The Pavilion at The Allen, a 62,000-square-foot retail and restaurant hub for the new campus, was 80% leased as of mid-December, and tenant build-out is expected to begin in the first quarter of 2021. Meanwhile, the Residences at The Allen, which will occupy 20 floors of a 35-story high-rise, are 25% sold and slated for completion in 2023. The high-rise’s foundation core was completed in October.
Memorial Park land bridge
Work began in December to install the first set of tunnel arches that will support the 35-foot-tall earthwork mounds that will be built over Memorial Drive, forming Memorial Park’s new land bridge. The concrete panel arches are designed to handle the estimated 300,000 pounds of soil that will be laid over the top to form the bridge, according to the Memorial Park Conservancy. One lane of Memorial Drive in each direction remains closed through next fall, when the tunnels are slated to be completed. The land bridge is scheduled for completion in 2022.
Lionstone Investments and Hanover Co. unveiled plans in November for a "urban village" development called Autry Park that will eventually include five towers, almost 1,500 residences and hundreds of thousands of square feet for offices and retail.
The first phase of construction is underway and is expected to be ready for tenant build-out in 2021. This phase will offer 750 residential units and 50,000 square feet for retail.
Over the next two phases, developers plan to build a total of 350,000 square feet of Class A office space, 100,000 square feet of retail and 1,450 residential units.