The 1960s-era River Oaks Luxury Apartments is set to have a big facelift.
New York-based Aerl Capital purchased the aging property at 3435 Westheimer Road in September for an undisclosed amount. The company notes on its website that the conversion plans includes reconfiguring the 17-story building into 92 condos.
The complex is in a prime location in the affluent neighborhood within easy traveling distance to such shopping meccas as Highland Village, the new River Oaks District and The Galleria.
The building has had several owners since it was constructed in 1962. The latest was Boston-based Metropolitan Properties of America Inc. Under that company's management, the Houston Fire Department discovered earlier this year the complex had no working fire alarm system for about a month.
The investigation led HFD to re-examine how often they inspect high-rise buildings. Currently, each building is inspected every two years, but the department is discussing inspecting certain buildings with repeated violations more frequently.
During the last few years, complex had been cited for multiple fire safety problems.
A commenter on the public forum, Houston Achitecture.com, noted about the recent news of the condo conversions: "I had a sigh of relief. The front fountain could use some TLC as well. Happy it's not a tear down."