Morgan to Break Ground on Luxury Apartment Community
By Amalia Otet, Associate Editor
The Morgan Group Inc., a leader in high-end multifamily development, construction and property management, announced plans to add another amenity-rich residential complex to its Houston portfolio under the Pearl brand.
Dubbed Pearl Woodlake, the new 376-unit luxury apartment community will be located at 2033 S. Gessner Road in Houston’s thriving Westchase District. It will offer a mix of one-, two- and three-bedroom apartment homes, ranging from 607 to 1693 square feet. Amenities include open floor plans, kitchen islands in select units, under-mount kitchen sinks, high-end wood-style floors, full-size washers and dryers, walk-in closets, side-by-side refrigerators/freezers, contemporary track and pendant lighting, patios and balconies in select units, and USB outlets.
Additionally, the upscale development will feature an oversize pool courtyard with outdoor kitchen and poolside cabanas, grilling stations, a dog park, an e-lounge, a club room and sports pub/lounge, eVgo car charging stations and a platinum athletic club with private spin bike studio.
Construction is expected to start in the first quarter of 2014, with opening scheduled for summer 2015. Financing for the project is being provided by Regions Bank.
“The Westchase District has become one of the strongest office markets in Houston, which is driving demand in the area for more luxury apartments,” said CEO Mike Morgan. “This property will be a popular choice for those who value a live-work-play environment in one of the city’s most vibrant neighborhoods. The amenities at Pearl Woodlake will be first class. Aside from close proximity to growing employment centers in West Houston, the property is a short drive away from popular retail destinations, including CityCentre, Memorial City and The Galleria. At Pearl Woodlake, residents can have it all.”
Rents are projected to start around $1,250 per unit and go as high as $2,600 per unit, according to company statements.
Over the last 25 years, the Houston-based company has developed more than 50 projects in major job growth markets throughout the U.S., consisting of over 15,000 units with a total cost exceeding $1.7 billion.
Photo credits: Greenway Plaza via official website