High Street – Joint Venture Development
Summary
Projected Acquisition Date – January 2008
Location – Houston, TX
Value-Add Opportunity – Joint Venture Development
Size – 380,000 sq. ft.
Total Project Cost – $88.5 million
Opportunity
- Capitalizing on demand for mixed use product type in the market (209 multi-family units, 94,000 retail square feet and 78,000 office square feet) stemming from lack of available retail locations and strong residential and office demand
- Excellent location with significant frontage on Westheimer Road in
Houston’s most desirable retail sub-market situated between the Galleria
and Highland Village - Strong demographics (5-mile population of 441,000 and avg. household income of $85,417)
Value Added
- “First mover” advantage-beating competitive projects to the market
- Quality development partners with a skill set and track record well suited
to the development - 2nd joint-venture with Trademark Property Company