Mar 4, 2023

High Street, Daiwa bring resi to River Oaks The joint venture brings another multifamily development to Houston Dallas-based High Street Residential, a subsidiary of Trammell Crow, is enlisting the Tokyo-based Daiwa House Group to bring a boutique apartment complex to Houston’s most exclusive neighborhood, the Houston Chronicle reported . The project will be located at 2311 Westheimer Road with a 12-story luxury complex, dubbed River Oaks at Westheimer, in the upscale River Oaks area and will feature 209 spacious units and a 2,900-square-foot ground-floor cafe. The project’s core clientele is expected to be empty nesters and young professionals seeking a taste of luxury. The units will range from 880-square-foot one-bedrooms to 2,200-square-foot penthouses. The Class A complex will average $4,600 for large two-bedroom units and about $3,000 for one-bedroom options. The first units are expected to go for rent in early 2025. The site of River Oaks at Westheimer was the previous home to the midcentury strip center Antique Pavilion, which closed its doors last year after three decades in operation. High Street Residential has more than 3,500 multifamily units in the pipeline and nearly $2 billion worth of units already in operation. The joint venture has tapped the services of Houston-based architecture firm Ziegler Cooper, which worked on its previous Downtown Houston project, as well as interior design company Rottet Studio. Preliminary plans from Ziegler Cooper show a residential lobby overlooking a private garden and an entry surrounded by landscaping. The project will also feature work-from-home nooks to meet the Houstonian’s growing demand for at-home office space, a pool deck and rooftop lounge as well as a spa-like fitness center on the ground floor. High Street Residential has seen Houston’s Inner Loop as an area ripe for development. It opened its 43-story Class AA Downtown Houston tower, Parkside Residences, last summer , also with joint venture partner Daiwa House Group. High Street Residential and Daiwa House are also currently developing the Residences at Kingwood , a garden-style multifamily complex with 300 units ranging from small apartments to spacious townhomes in the swanky northeast Houston suburb of Kingwood. It’s expected to open doors by the end of the year. – Brandon Sams