Quick Move
From art institute to apartments: Marvy Finger strikes again, gobbling up abuilding to convert
Houston apartment magnate Marvy Finger has purchased the old Art Institute of Houston office building in the Galleria area for a new apartment project.
Finger will demolish the six-story office building, 1900 Yorktown, to make way to construct a mid-rise apartment tower.
The Art Institute vacated the Yorktown building about a year ago, relocating to the Southwest Freeway, near the old Houston Post building.
Finger will construct a mid-rise apartment tower on the Yorktown site, located just south of San Felipe. Finger is known for being able to sniff out Inner Loop and close-in properties with development potential. With a scarcity of vacant land, Houston's multi-family developers have found old office buildings, warehouses, vacant churches and other buildings that can be demolished to create sites for mid-rise and high-rise apartment development.
Finger has been exceptionally successful with the One Park Place apartment tower across from the Discovery Green park and his Museum Tower project on Montrose Boulevard. Finger also is developing a 431-unit apartment project next to Whole Foods on Waugh Drive at West Dallas.
Marvy Finger’s organization, The Finger Companies, has completed more than 75 apartment communities in 13 cities, which represent more than 25,000 units overall.
