There is a comforting sound once again in the air in the Houston area. It is the sound of construction at the intersection of Post Oak Boulevard and San Felipe, in the heart of Houston’s Uptown District.
As Houston real estate moves through and beyond the recession, some large scale commercial real estate projects that had been put on hold are coming to life again. One such impressive project is BLVD Place on Post Oak Boulevard. BLVD Place in an upscale, mixed use development.
The first BLVD Place project, a 4 story, 70,000 square foot building, was finished back in 2009. It contains several restaurants along with high end stores. This second phase of development is to include 211,000 square feet of development, including Whole Foods, a regional headquarters for Frost Bank, and other office, retail and restaurant space. When finished, the project will include several hundred thousand square feet of shops, dining options, offices and residential towers. There is also the possibility for a boutique hotel.
CURRENT DEVELOPMENTS
Wulfe & Company, announced that energy giant Apache Corporation, had obtained 6.4 acres of the development site. Apache’s headquarters are located nearby at Post Oak Central.
The Hanover Company recently announced their plans to build a 29 story residential high-rise on the site with construction beginning as early as the first quarter of 2013. Residential move-ins could come in mid-to-late 2014. The building is expected to have over 350 residential units ranging from 650 to 3,000 square feet. Hanover has already built two multi-family projects along the boulevard.
Whole Foods expects their BLVD Place store to be open in 2014. Currently, underground parking is under construction for the store, and it is expected to include a moving sidewalk to transport customers from the garage into the store. The Whole Foods store should be a strong selling point for the Hanover residential tower.
Frost Bank is said to be leasing some 50,000 square feet of space at the corner of Post Oak Boulevard and San Felipe.
OVERVIEW
With dining, retail, residential, and office construction underway, or soon to be underway, BLVD Place is living up to its “mixed use development” moniker. That is good news for the economy overall, and for inner loop real estate investors in particular. Other projects in the area include luxury apartments and office buildings. Realtor Bill Edge expects to see this trend continue with the Boulevard becoming an important portal to Mass Transit.
Call Inner Loop Houston REALTOR Bill Edge at 713-240-2949 to see Houston Homes in 24 hours or less.
Source: Houston Chronicle, September 14, 2012