First Multifamily Development in Houston Heights to Celebrate Grand Opening
- Feb 06, 2009
By Erika Schnitzer, Associate Editor Houston—Allied Realty Services Ltd. will celebrate the grand opening of 212 Yale, a six-story, 195-unit urban infill development located in the Heights neighborhood of Houston, this month.Houston Heights “is one of the oldest parts of Houston. It’s full of a bunch of old Victorian homes and has its own downtown that has been turned into antique shops and restaurants in the area, all within walking distance” of 2125 Yale, Tim Myers, managing partner at Allied Realty Services Ltd., tells MHN. The project is the only multifamily development in the neighborhood, and in fact, Myers says that it is located on the commercial side of the Heights. “It’s very hard to find land in that area where you can do a commercial development because most land is restricted to single-family,” explains Ricardo Rivas, vice president of development at Allied Realty Services.The two-acre site, which was originally built in 1913, was a family-owned store (pictured above), which evolved into a small department store in the 1930s. In an effort to preserve the historical significance of the site, Allied Realty Services restored the yellow pine flooring and incorporated it into select residences, as well as the 5,000-sq.-ft. clubhouse.The Heights is the only neighborhood in Houston that has this Victorian feel, explain Myers and Rivas. “The sad truth of Houston is that we have been quick to tear down buildings if they’re obsolete. This area’s been spared because people who lived there realized what they had and tried to preserve the neighborhood,” Myers adds.The exterior of 2125 Yale is comprised of glass, masonry, structural steel and metal siding to suggest urbanity and luxury. Myers says that it is has “a warehouse look with an edge to it, with residential finishes to allow for the transition between commercial and residential.” From the Yale Street side, Myers describes the project as having an “outdoor café look. Traffic is separated by brick planters, and it’s all store-front with solid glass so you can look in from the street.”The project is centrally located between two major sources of employment: the Galleria and downtown Houston, adds Rivas, and the target demographic is young professionals—double income, no kids. Designed by Meeks and Partners, 2125 Yale (at right) offers one- and two-bedroom units, ranging in size from 627 to 1,304 sq. ft. Residences have 9 ½-ft. ceilings, stainless steel appliances, washers and dryers, granite countertops and garden tubs. Reclaimed hardwood floors and floor-to-ceiling glass with unobstructed views of downtown Houston are available in some units. Monthly rents range from $1,100 to $2,000.Amenities include a demonstration kitchen, billiards room, cyber lounge, fitness center and two levels of parking. Additionally, the pool level—which is floating on the transfer deck on the first floor and includes a cabana, wet bar and barbeque area—has recently been completed.The property is currently 12 percent occupied, but Myers does not necessarily attribute this to the down economy. In fact, “the most expensive units seem to be leasing first, and the units on the transfer deck with concrete floors are more popular than units with carpeting.” He anticipates that traffic will pick up now that the amenity area is complete.2125 Yale is managed by Orion Real Estate Services. Construction financing was provided by JPMorgan Chase.