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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.

    unspecified
    news/real-estate

    rent report

    Here's how much Houston rent prices have dropped since last year

    Amber Heckler
    Jun 2, 2026 | 9:15 am
    Houston skyscrapers
    Photo by Datingscout on Unsplash
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    Rent prices are falling statewide, and Houston's have declined more than nearly all other major cities in Texas, according to a new national rent report from Zumper. Houston also has the fourth-cheapest rents in Texas.

    The Zumper National Rent Report tracked year-over-year and month-over-month rent price changes in 100 U.S. cities for both one- and two-bedroom units using the most recent data available from May 2026.

    Rent prices for one-bedroom units in Houston have dipped 9.6 percent year-over-year, to $1,130, which is the second-steepest decline in Texas. Two-bedroom rents have dropped nearly 5 percent from last year to $1,430.

    The report also revealed that four of the 10 U.S. metros offering the most concessions are located in Texas. Austin leads nationally with more than a third of rental units "dangling incentives to fill space," followed by San Antonio and Houston. A separate rent report from real estate data firm CoStar found Houston had the fourth highest apartment vacancy rate in the U.S. in March, meaning residents may be able to save on their rent depending on the financial incentives offered by landlords.

    Additionally, these same markets offering generous rent concessions are also among the 10 U.S. metros with the largest population growth, which Zumper says signals ongoing tension between tenants and their landlords regarding prices.

    "So while Texas absorbed a significant share of the 2023-2025 supply wave, inventory still has to lease up before landlords regain pricing power, and the steady inflow of new residents says the demand is there," the report stated. "It’s just a question of when supply stops outrunning it."

    From 2023 to 2024, Texas gained nearly 73,000 net new renters, making it the No. 1 magnet for renters nationwide.

    Rent prices elsewhere in Texas
    San Antonio saw the steepest drop in rent prices statewide, with one-bedroom rents falling by 10.4 percent to $950. Two-bedroom units have declined 6 percent year-over-year to $1,250.

    Arlington was the only major Texas city where rent prices increased from May 2025 to May 2026. One-bedroom rent increased nearly 3 percent to $1,090, and two-bedroom rent increased 2.1 percent to $1,480.

    Zumper annual rent changes in Texas cities Zumper

    These are the rent prices for other Texas cities in May 2026:

    • Austin: $1,420 for one-bedroom units; $1,860 for two-bedroom units
    • Dallas: $1,350 for one bedroom; $1,900 for two bedrooms
    • El Paso: $810 for one bedroom; $1,130 for two bedrooms
    • Fort Worth: $1,240 for one bedroom; $1,560 for two bedrooms
    • Irving: $1,280 for one bedroom; $1,610 for two bedrooms
    • Plano: $1,360 for one bedroom; $1,900 for two bedrooms
    rentrent reportzumperapartmentsreal estatehouston
    news/real-estate
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