Hines Bullish on Houston

Montrose boutique hotel partners with Hines for upgrade and luxury residential high-rise

Montrose boutique hotel La Colombe d'Or set to undergo a $10 million renovation and the addition of a 34-story residential tower.

At a time when some developers are backing off high-rise residential projects, others are moving ahead, planning to open new doors in sync with Houston's anticipated economic recovery. Hines is the latest to announce a luxury tower, this one connected to the storied La Colombe d'Or boutique hotel on Montrose Boulevard.

Hotel owner Steve Zimmerman and Hines announced Tuesday the partnership that will result in a $10 million expansion and renovation of the hotel and the addition of a 34-story, 285-unit tower to be known as the Residences at La Colombe d'Or. The project is a joint venture between Hines, the Zimmerman family and TIAA Gobal Asset Management.

The tower will rise just behind the hotel, replacing the parking lot and the ballroom that was a later addition to the mansion, built in 1923. The residences will connect to the hotel through "a series of amenitized areas," including an art gallery and an outdoor space with a fireplace. In addition, the new building will provide 17 luxury rooms for La Colombe d'Or hotel guests.

“La Colombe d’Or is one of those unique Houston gems that makes our city so special,” Hines founder and chairman Gerald D. Hines said in a statement. “We look forward to working hand-in-hand with the Zimmerman family to be a part of the next chapter in the legacy of this celebration of enriched living.”

Construction will begin in the second quarter of 2017 with completion expected in 2020.

“There are no multifamily assets of this quality slated to compete with the opening of La Colombe d’Or, and the timing of this luxury development takes full advantage of that,” according to a statement by Tom Melody of JLL, which represented Hines and Zimmerman in the transaction. “When the Residences at La Colombe d’Or delivers, it will be unrivaled by any other product of this quality in the asset class.”

For those emotionally attached to the ballroom, which is elegantly dressed in oak panels from a 300-year-old French chateau and laced with crystal chandeliers, Zimmerman assures that a ballroom with those amenities will be rebuilt at a neighboring location.

The 31-story Hanover Montrose luxury apartment, immediately north of La Colombe d'Or, is now accepting renters and offering up to eight weeks free rent. The Hines/Zimmerman are betting that by 2020, there will be no need for that kind of rental incentive.

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How Sweet

Sugar Land's first new apartment complex in 13 years breaks ground

Pearl Lake Pointe luxury apartment complex Sugar Land.

Rendering Courtesy of Morgan

Pearl Lake Pointe is a 376-unit luxury apartment complex slated for early summer 2027 in Sugar Land.

Sugar Land is welcoming its first new apartment development in more than a decade. Pearl Lake Pointe, a 376-unit luxury community from developers Morgan and Carlyle, is underway at 16435 Creekbend Drive.

Construction began in November, with an official groundbreaking held this week. “The groundbreaking of Pearl Lake Pointe marks an exciting new chapter for the Lake Pointe peninsula,” Sugar Land Mayor Carol K. McCutcheon said in a statement. “After years of planning and collaboration with Morgan, this project delivers much-needed, high-quality multifamily housing and strengthens our long-term vision for a vibrant, connected district. This milestone will help drive continued reinvestment and momentum throughout Lake Pointe and across Sugar Land.”

Set across 6.46 acres, the five-story complex will feature five live-work units, a six-story parking garage, and 9,940 square feet of commercial office space. Fitness centers, a resort-inspired pool, a golf simulator, a sky lounge, and a cafe are among the planned amenities.

Inside the residences, features include open-concept floor plans, quartz countertops, stainless-steel appliances, washers and dryers, and balconies in select units.

“Pearl Lake Pointe is a unique opportunity to elevate the living experience and set a new benchmark for luxury in Sugar Land,” Kase Pappert, Morgan senior development manager, said. “We are grateful for the City’s partnership and look forward to helping re-energize the Lake Pointe peninsula with a welcoming community that feels like home and connects residents to the amenities right outside their door.”

Roughly 20 miles from downtown Houston, the site has views of Brooks Lake and is adjacent to the former Fluor corporate campus currently being transformed into the Lake Pointe Green mixed-use development.

The first Pearl Lake Pointe units are slated for delivery in early summer 2027. Morgan and Carlyle will own and manage the community, with project financing provided by Texas Capital Bank.

“With Pearl Lake Pointe, Carlyle and Morgan are redefining multifamily living and adding meaningful momentum to address the demand for high-quality housing in the Sugar Land submarket,” said Adam Buchwald, Carlyle managing director and partner. “Partnering with Morgan — an accomplished developer with a strong track record — makes this project even more exciting, and Pearl Lake Pointe is a standout addition to Carlyle’s portfolio of high-quality multifamily developments.”

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