Austin developer OHT Partners to build new luxury apartments, Lenox Heights, in Houston's Greater Heights neighborhood. – Houston Chronicle

Lenox Heights is expected to open in 2025 in a part of Houston that is continuing to attract new apartment development.
A new 359-unit apartment complex is coming to The Heights as real estate developers continue to chase demand for rental units in the popular neighborhood once dominated by single-family houses.
OHT Partners, a prominent developer from Austin formerly known as Oden Hughes, is planning an upscale apartment complex at 333 West 24th Street. Construction is expected to start in December with the project opening in the first quarter of 2025, said Jackson Simons, vice president of development for OHT Partner’s Houston office.
Called Lenox Heights, the project will offer luxury residences with amenities such as a two resort-style pools, a skydeck with views of downtown Houston, a WeWork-inspired coworking studio, a fitness center and pet spa.
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Within a 10-minute walk or a 2-minute drive, residents would be able to access the relatively new H-E-B grocery store in The Heights to the west and or to the south, the historic 19th Street commercial district famous for its funky boutiques and quaint eateries.
“This part of town attracts young professionals and families alike due to its proximity to major employment centers, charming neighborhood setting, and rare walkability to some of Houston’s top retail and dining destinations,” said Simons.
Initial construction estimates pegged the cost of the 5-story project at roughly $31.2 million, according to state permit filings. Designed by architect Steinberg Dickey Collaborative LLP,  Lenox Heights represents OHT Partners thirteenth project in the Houston area, but it’s first entry in the Greater Heights area.
Apartment market continues to grow in The Heights
Lenox Heights is planned nearby another brand-new apartment project that opened earlier this year by CityStreet Residential called Domain Heights. Since opening February, the 406-unit project is about 56 percent leased, the developer said in an email. Asking rents start at $1,560 for a 545-square foot studio and go up to about $3,500 for a larger two-bedroom, according to the project’s leasing website.
“We’ve been really pleased with the lease-up at Domain Heights. We’re not even fully complete and we are over 50 percent leased,” said John Cutrer of CityStreet Residential Partners in a statement. “The Heights has proven to be a popular location due to its convenient access to major employment centers such as downtown and the Galleria. It affords residents the opportunity to combine that short commute with an amazing lifestyle in a true neighborhood, with walkable entertainment, dining, and retail.”
Both projects add to an expanding wave of apartment development in The Heights and the nearby Washington Avenue corridor, where there already were about 1,051 new apartment units under construction across both neighborhoods, according to research from the real estate firm Transwestern. Historically The Heights has been known more for its craftsman-style bungalows than its luxury apartment projects. Even today, the neighborhood is dominated by historic homes and former industrial buildings turned into trendy boutiques and restaurants. Earlier this year, there was still only about 10,000 apartment units The Heights area, representing less than 2 percent of all apartments across the metro, according to the commercial real estate data firm CoStar.
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But gentrification and demand for residential space from high-income earners has increased investor interest in the neighborhood over the past few decades. The neighborhood’s inventory of apartments has expanded by about 40 percent in just the past five years, with construction completing on more than 2,000 units in the past two years alone, according to CoStar. Much of this new development has also spilled over into the Washington Avenue corridor, where more apartments are popping up along with retail projects such as the Lower Heights District, which just welcomed a Home Depot.
Despite The Heights popularity among renters, average rents are still slightly below other popular Inner Loop neighborhoods. The average asking rent for a one-bedroom in the Greater Heights was about $1,760 in August, compared to anywhere between $1,868 to $2,335 for a one bedroom in  downtown, the Museum District, Montrose, River Oaks, Midtown and University Place, according to San Francisco-based apartment marketplace ApartmentList.com.
Outside of The Heights, OHT Partners also is busy with multiple other apartment projects including constructing The Laura, an apartment complex in Midway’s East River mixed-use project in Houston’s East End and The Drexel, a complex rising off US Highway 59 in the Greenway/Upper Kirby area. Last fall, OHT also broke ground on the 315-unit Lenox Bayside project in the Clear Lake area of southeast Houston. The firm both develops its own projects and constructs complexes as a third-party contractor.
 
Marissa Luck covers real estate for the Houston Chronicle.
Originally from Hawaii, Marissa previously covered refining and chemicals for the Chronicle and also had stints at Costar, the Austin Business Journal and The Daily News in Longview, Wash.
She grew up near Seattle and studied international political economy at The Evergreen State College in Olympia, Wash.
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