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    The High Life

    New luxury high-rise upped from 35 to 40 floors: A sneak peek at Houston'stallest apartment tower

    Whitney Radley
    Nov 14, 2012 | 11:11 am
    • The first level of the 2929 Weslayan development will be home to 12,500 squarefeet of retail.
    • RTKL Associates says that the design was "inspired by a flowing evening gown."
    • Developers plan to secure a signature restaurant for the retail portion, inaddition to other amenities that would be beneficial to residents.
    • The building, which was initially slated to be 35 stories, has been increased to40 floors — including three levels of penthouses.

    PM Realty Group broke ground on 2929 Weslayan last week, marking yet another multifamily residential development to go up within easy walking distance of Highland Village.

    The developer first unveiled the project last September after purchasing the 2.6-acre parcel on the northeast corner of Weslayan Street and West Alabama, an inner-Loop spot that Bryant Nail, the executive vice president of multifamily development for PMRG, tells CultureMap is the "best in town."

    Initially marketed as a 35-story, 250-unit luxury high-rise, the apartment has since been upped to 40 floors. Nail says that the upper three of those additional floors are slated for penthouses, two on each floor, that span 4,000 square feet each, boasting 2,000 square feet in patio space and unparalleled views of both the Galleria and downtown Houston — especially if it is the tallest rental tower in the city, as Prime Property estimated.

    If that is a resident's backyard, then the signature restaurant that will occupy part of the 12,500 square feet of retail space on the bottom floor will be his or her kitchen.

    High-end features in all units include hardwood floors, granite counter tops, stainless steel appliances and gas cook tops, a great benefit to those who like to cook in a gourmet kitchen, says PMRG chief financial officer Roger Gregory.

    The building — which is currently scheduled to be LEED Silver-certified — will offer direct elevator access to the top 11 floors, 24-hour valet and concierge services. A .75-acre common area will include a state-of-the-art fitness center, a resort-inspired pool and areas for outdoor cooking. Nail describes it as a "well-equipped backyard."

    If that is a resident's backyard, then the signature restaurant that will occupy part of the 12,500 square feet of retail space on the bottom floor will be his or her kitchen. Nail wants it to be upscale enough for special occasions, but casual enough that residents can eat there every day. Catering will be available for room service and pool deck delivery.

    The remaining retail space will be occupied by amenities that will benefit the residents, like a day spa and a dry cleaner, set off by a 20-foot high wall fountain in the lobby.

    "It's one step removed from hotel living," says Gregory, who tells CultureMap that the development's target audience is "a renter by choice."

    Designed by RTKL Associates, the distinctive facade was "inspired by a flowing evening gown," with balconies informing the flow of the building. CF Jordan was selected as the general contractor, Faulkner Design Group as the interior designer and Studio Outside as the landscape architect. The project — PMRG's first multifamily development in Houston — is slated for a 2014 completion.

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    Tax Hike

    Texans have the 7th highest property taxes in the nation in 2026

    Amber Heckler
    Feb 18, 2026 | 9:15 am
    Home in a neighborhood
    Photo by Point3D Commercial Imaging Ltd. on Unsplash
    Renters are also affected by rising property taxes, the report said.

    Property taxes can be a particularly sore subject for homeowners, and a new study has revealed Texans are saddled with the seventh-highest property taxes in the nation.

    WalletHub's annual report, "Property Taxes by State," released February 17, found Texas homeowners will pay a median $4,232 in property taxes in 2026. That's based on the state's median home value of $283,800.

    Last year, Texans were on the hook for a $4,111 property tax bill based on a median home value of $260,400. And Texas residents are expected to pay $360 more on their property taxes this year than in 2024, when the figure was $3,872.

    To determine which states have the biggest and lowest property tax burdens on residents, WalletHub's experts divided each state's median real estate tax payment by its respective median home price. The report then used the resulting rates to extrapolate the annual real estate tax that would be paid on a house valued at $332,700, which was the median value for a U.S. home as of 2024 (the year where the latest data was available). All 50 states and the District of Columbia were analyzed.

    Texas tied with Nebraska as No. 44 in the national ranking of states with the highest property tax burdens for residents right now. Both states have an effective tax rate of 1.49 percent, the data said.

    Still, the property tax burden in Texas isn't as punishing as New Jersey (No. 51), whose residents are shelling out almost $9,600 on their property taxes this year based on a median home value of $454,400. On the opposite end, Hawaii is the state with the lowest property taxes, with residents spending about $2,239 based on a median home value of $839,100.

    The annual property taxes Texans would pay on a $332,700 home (the 2024 U.S. median home value) added up to $4,961, the report said. For added context, the U.S. Census Bureau found the average American household pays $3,119 annually on property taxes.

    Of course, property taxes vary by region, and residents living in Harris County are familiar with enduring tax hikes. Houston renters are also affected by rising property taxes despite not owning their homes, WalletHub said.

    "While property taxes may seem irrelevant to the 35 percent of households that rent, that assumption misses the mark," the report said. "Whether paid directly or indirectly, nearly everyone bears the cost of property taxes, as they influence rental prices and help fund state and local governments."

    According to Walltethub, the top 10 states with the lowest property taxes for 2026 are:

    • No. 1 – Hawaii
    • No. 2 – Alabama
    • No. 3 – Nevada
    • No. 4 – Arizona, Colorado, and South Carolina (tied)
    • No. 7 – Idaho
    • No. 8 – Delaware and Tennessee (tied)
    • No. 10 – Utah
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