Construction of SkyHouse Houston, an Energy Star-rated 24-story luxury apartment high-rise, is expected to create 500 construction jobs and draw more than 400 residents to Houston’s CBD. The building will feature floor-to-ceiling glass and 9-ft.-plus ceiling heights with high-end finishes, including stainless steel appliances, granite countertops, wood floors, expansive balconies and high-speed wiring.
Construction on SkyHouse Houston, an Energy Star-rated 24-story luxury apartment high-rise at 1625 Main Street in the Central Business District of Houston, is set to proceed in April. The Skyhouse mission is to find places in dynamic cities where Gen Y members – 25-to-34-year-old singles – can experience affordable, sustainable, luxury high-rise living. SkyHouse Houston is the fifth SkyHouse project being developed by Denver-based Simpson Housing LLLP, Novare Group, Batson-Cook Development Co. and Houston-based developer Peter W. Dienna, and is designed by architecture firm Smallwood Reynolds, Stewart, Stewart. It follows projects in Atlanta, Orlando, Fla., and Austin, Texas.
JP Morgan Chase Bank, N.A. is providing construction financing for the project, and Simpson Housing, NGI Investments, LLC, led by Jim Borders, and Batson-Cook Development Company are providing equity. The CBRE team of Robert LaChappelle, Jonathan Rice and Paul Berry arranged financing. David Cook and Jeff Peden of Cushman & Wakefield brokered the land.
The new construction is expected to create 500 construction jobs and draw more than 400 residents to Houston’s CBD. The City of Houston awarded SkyHouse Houston a tax abatement of USD 15,000 per apartment unit, subsidizing the more expensive high-rise construction costs necessary on the small city blocks and representing a substantial incentive to drive new development in a submarket that has lagged an otherwise robust Houston apartment market.
SkyHouse Houston will feature floor-to-ceiling glass and 9-ft.-plus ceiling heights with high-end finishes, including stainless steel appliances, granite countertops, wood floors, expansive balconies and high-speed wiring. A top-floor “Sky House” will feature a club room, fitness center, pool and grilling area, with unimpeded views of much of Houston. The building will be within walking distance of more than 40 million sq.ft. of office space, the Toyota Center, Minute Maid Park, BBVA Compass Stadium and the Bell Station Metrorail stop, providing residents with excellent access via public transportation to the surrounding areas, including a short ride to the Texas Medical Center, the world’s largest medical center and a major economic driver for Houston.