Gables Residential, Archstone Build New Luxury Apartments
- Jul 08, 2011
Marking their second joint venture development in the Houston market, Gables Residential and Northwestern Mutual began construction on Gables Post Oak. The Class A-plus apartment community is located in the Uptown area of Houston, at Post Oak Park and Post Oak Place, offering ease of access to the Galleria shopping center, the Westheimer corridor and the River Oaks area.
The eight-story building clad with a brick-and-stone façade is to provide 316 apartment homes with luxury finishes. According to Ben Pislak, regional vice president of investments for Gables Residential in Houston, “The combination of high-end apartment living and an ideal location will provide residents access to the dining, shopping and office environment in the Uptown Houston area.” Northwestern Mutual will be providing the related construction financing.
The Arabia Shrine Center on North Braeswood is also to be redeveloped, with owner Archstone planning a new luxury apartment community. The 474 apartment units will feature spacious floor plans, European-style cabinetry, stainless steel appliances, granite countertops and large walk-in closets. Archstone envisions a resort-like ambiance, with amenities including five courtyards, a Click Café with free WiFi and a modern fitness center, topped by a resort-style pool with poolside barbeque grills.
The highly convenient location is expected to draw the many working professionals of the area, given the community’s proximity to the Texas Medical Center—currently home to 49 member institutions with more than 93,000 employees, and growing.
“In addition to its already impressive employment base, the Texas Medical Center is in the midst of a growth plan that is expected to generate an additional 6 million square feet of research and medical facilities and nearly 30,000 jobs,” said Neil Brown, Archstone’s chief development officer. “Our new luxury apartment community will be very conveniently located next to one of the largest employment centers in Houston, and the largest medical center in the United States, which will provide outstanding convenience to our residents.”