Morgan Launches New Pearl Luxury Community; Balfour Beatty General Contractor for 6 Houston Center
By Amalia Otet, Associate Editor
The Morgan Group has commenced development of a new luxury apartment community under its Pearl brand. Morgan launched the brand in 2013 with the opening of Pearl Greenway in Houston’s Greenway Plaza.
To be located on a 4.6-acre pad near Houston’s CityCentre, the new Pearl project consists of two separate properties, dubbed Pearl CityCentre and Pearl Residences at CityCentre. Plans call for an eight-story building with 148 units, ranging from 750 to 2,500 square feet, and a seven-story mid-rise with 312 units that range from 650 to 1,500 square feet. Interiors feature high-end wood floors and condo-quality finishes.
Designed to cater to a wide range of renters, from young professionals to empty-nesters, both properties will feature such amenities as a cyber café, a business center, an athletic club and a resort-style swimming pool with private cabanas.
“The location of this property, with its proximity to Houston’s hugely popular CityCentre and the ever-expanding Energy Corridor, couldn’t be better,” said The Morgan Group President Alan Patton in a written statement. “The apartments within CityCentre command some of the highest rents in Houston. The lack of available land adjacent to CityCentre makes this site even more valuable. Morgan has upped the ante by bringing Inner Loop luxury to this area to appeal to the renter-by-choice who wants an all-inclusive environment. We intend to own both of these properties for years to come.”
Wells Fargo is providing construction financing, and Wallace Garcia Wilson Architects is the project architect.
The Pearl CityCentre community is set to open in early fall 2015.
Meanwhile, Crescent Real Estate Holdings LLC has tapped Balfour Beatty Construction to serve as general contractor for 6 Houston Center, a new 30-story office building to be located on the thriving east side of Houston’s central business district.
6 Houston Center will be a state-of-the art building featuring 600,000 square feet of Class AA office space, as well as a nine-level parking garage and a skybridge connection to 1 Houston Center/LyondellBasell Tower. Amenities include 10- to 12-foot ceiling heights, a concierge floor, a fitness and conference center and rooftop gardens. It also boasts a premier location on Block 95, near the light-rail and within walking distance of numerous hotels, restaurants and retail destinations.
The building is designed to achieve LEED Gold certification.
Chrissy Wilson of Jones Lang LaSalle will handle leasing at the property, as previously reported by Commercial Property Executive.
Rendering of 6 Houston Center, courtesy of Crescent Real Estate Holdings LLC via PRWebTags: 6 Houston Center, Acquisitions/Dispositions, Architecture/Design, Balfour Beatty Construction, Brokers, Commercial, Crescent Real Estate Holdings LLC, Developers, Development, Financiers, Green, Houston Lead Story, Investors, Local, luxury, luxury apartment community, multi-family, National, Office, operations, Owners, Pearl CityCentre, property management, Regional, The Morgan Group