Real Estate Rumblings
It seems that nearly every developer in town is joining the luxury condo market. Among the latest to hop on the trend is CondoSmart Realty LLC, which has announced plans for Topaz Villas, an Italian Renaissance-inspired midrise complex set to break ground within the next month in the Montrose/Museum District area, with construction complete within the next year.
Three of the 15 luxury condos are already pre-sold for the complex at 4520 Yoakum Blvd. off Highway 59, near Montrose Boulevard. Prices range from $900,000 to $1.15 million, according to the Houston Business Journal.
Amenities include hardwood floors in living, dining and kitchen areas, with carpets in bedrooms; granite countertops in kitchens and baths; walk-in closets; and double-paned insulated windows. Exterior features such as 24-hour gated parking and private terraces are also in the design, as is a common rooftop terrace.
Even without light rail (with plans on hold for the University Line), development along Richmond Avenue from the Texas Highway 527 Spur to Shepherd Drive is intense, with three large midrise apartment complexes nearing completion, along with a midrise office tower.
Among the many other announced projects inside the 610 loop are the Masterson Oaks at Westmoreland, a seven-house, eight-townhome residential development with lots starting in the $800,000s, and Azalea Court, a midrise featuring 645 apartments in the River Oaks area is slated to open in June 2015.