Via Swamplot, I learn about two big construction projects going on near where I work. First, at OST and Kirby, a short walk from my office:
On Old Spanish Trail at Kirby, where Target and Garden Ridge used to be, Simmons Vedder is ready to go with this exciting version of a retail-and-residences mix. They company is leasing the land back from the Texas General Land Office.
Yes, that's three stories of apartments above a brand new strip center facing O.S.T. No need for fake towers at the corners on this one!
Swamplot also links to this Houston Business Journal story, which answers a question I've had about another large project farther east on OST.
[Simmons Vedder] broke ground in the first quarter of 2007 on Equinox, an 8.4-acre, upscale apartment complex at Old Spanish Trail at Almeda, also near the Medical Center. The project's 304-unit first phase will be ready by mid-year 2008. Phase 2, with about 300 units, will likely start in summer 2008.
The total development cost for Equinox is about $67 million, [Simmons Vedder partner Rick] Craig says.
Simmons Vedder wanted to build near the Texas Medical Center because the considerable amount of commercial construction under way in the area is expected to generate a substantial number of additional jobs.
"It's just a huge amount of activity, just massive," Craig says. "We think we'll have a lot of people associated with the medical profession who will want to live there to be close to work."