OHT Partners Kicks Off Luxury Houston Project
The 359-unit property will come online in 2025.
OHT Partners has broken ground on Lenox Heights, a 359-unit luxury multifamily community in The Heights neighborhood of Houston. Steinberg Dickey Collaborative provided architecture and design services for the development. Completion is scheduled for early 2025.
In April, the project became subject to a construction loan from International Bank of Commerce, according to Yardi Matrix data. Total development costs are estimated at $31.2 million, as reported by ConnectCRE.
The five-story property will comprise one- and two-bedroom floorplans ranging from 629 to 1,247 square feet. Apartment interiors will feature quartz countertops and smart-home technology. Common-area amenities are slated to include a coworking studio, a fitness center, two swimming pools, a pet spa and a clubhouse.
Located at 333 W. 24th St., close to Interstate 610, the 3.7-acre site is some 8 miles north of downtown Houston. Within walking distance of the property there are numerous retail and dining options. Memorial Hermann Greater Heights Hospital is less than 3 miles away.
OHT Partners currently owns two completed properties in Houston—the 382-unit Lenox Reserve and the 259-unit Lenox Oaks—along with eight others in various stages of development, the same data provider shows. In 2022, the metro was one of the top markets for multifamily deliveries with 18,450 units coming online, representing 2.6 percent of existing stock. As of January, more than 29,000 units were underway, according to a recent Yardi Matrix report.