HOUSTON – (By Cynthia Lescalleet for Realty News Report) – With a second high-rise joining Caydon’s mixed-use Laneways district in Midtown, the development could just as well be called “Skyways.” But the Australia-based developer intends something more intimate: a walkable “neighborhood within a neighborhood” inspired by Melbourne’s lively alleys—lined with eclectic shops, bistros, boutiques, green spaces, galleries and entertainment.
After completing Drewery Place, a 27-story apartment tower with retail at its base in Midtown Houston two years ago, Caydon’s next project is a 32-story tower that pairs 191 condominiums with a 190-room boutique hotel operated by Kimpton Hotels & Restaurants.
The 558,000-square-foot tower will be the second phase of a 2.5 million-square-foot mixed-use district Caydon envisions across three city blocks—about 3.5 acres bounded by Main, McGowen, Fannin and Tuam—adjacent to Midtown Park. The development sits along MetroRail’s Red Line, serving Midtown, an emerging district between Houston’s largest employment centers, Downtown and the Texas Medical Center.
Other developers have recently added to Midtown’s residential skyline. Madison Marquette completed The Travis, a 30-story rental tower on Main Street, while Camden Property Trust and The Morgan Group have also delivered projects in the area.
With the Fitzroy, Caydon is introducing a residential/hotel hybrid—a relatively rare arrangement in Houston but common elsewhere. The Fitzroy Residences combine condominiums and hotel operations with six levels of parking, street-level retail, a restaurant, and substantial fitness and wellness amenities. Many services and facilities will be shared between hotel guests and residents, including food and beverage offerings.
Condo owners get distinct private amenities as well: a separate residential lobby, private pool, business lounge, co-working spaces and dedicated security. As project materials put it, residents can “use the hotel, ignore the hotel,” while overnight visitors can opt for hotel accommodations rather than the guest sofa.
Kimpton: Pioneers in Design-Forward Boutique Hotels
The hotel portion marks Kimpton’s Houston debut and its third Texas location. Founded in 1981 in San Francisco by Bill Kimpton, Kimpton Hotels helped popularize individually designed, character-driven boutique hotels across the United States. Acquired by global hospitality company IHG in 2015, Kimpton properties are typically smaller—often under 200 rooms—and emphasize distinctive design intended to inspire curiosity.
These are not cookie-cutter hotels; each Kimpton aims for a thoughtful, design-forward identity.
The Stack: Layering Condos and Hospitality
Most of the Fitzroy’s condominium levels (floors 9 and 19–31) will sit above the hotel floors (7–8, 10–18), with the top story reserved for hotel use.
Floorplans include 16 studios averaging 567 square feet; 128 one-bedroom units from 630 to 1,099 square feet; 86 two-bedroom units from 1,107 to 2,167 square feet; and four three-bedroom penthouses ranging from 1,686 to 2,243 square feet.
Base pricing at launch starts around $279,000 for studios, with one-bedrooms from $285,000, two-bedrooms from $730,000 and penthouses beginning near $1.45 million.
Attainable Pricing?
Houston’s condo inventory has been weighted toward higher price points, so Fitzroy’s relatively attainable entry-level pricing represents a notable shift, according to Joe Russo, Caydon’s managing principal. The Kimpton partnership is another distinctive element. “It is a new opportunity for our residents and travelers to stay in an upscale tower with an amenity-rich and cosmopolitan atmosphere,” Russo said.
Sales began during the pre-construction phase. Some current tenants at Drewery Place have expressed interest in Fitzroy, Caydon sales director and acting COO Emma Alexander said via email. Proximity to Drewery Place creates an opportunity to introduce a more transient demographic to ownership. “Fitzroy Residences offer a great opportunity for those that have a small deposit now but need more time to save the remainder,” she said.
Downsizers have inquired about lock-and-leave options for future use, and suburban residents looking for a city “crash pad” for themselves or children have shown interest. Floorplans with a bedroom plus study have been particularly popular as more people work from home.
The Fitzroy was always part of the overall district plan, though its timing was flexible. Caydon expected to break ground in mid-2021 with completion targeted for late 2023.
Building in the COVID Era
The pandemic did not delay the sales launch, Alexander said, nor did it change the hybrid tower’s design, which already featured separate hotel and condo amenities, elevators and entrances. “Wellness” is a consistent design pillar for Caydon projects, she added—incorporating natural light, fresh air, health-focused amenities, and locations near parks and transit.
The tower’s exterior uses fins and curving slab edges to evoke the city’s winding waterways, according to Giuditta De Santis, director of Caydon Architecture & Design. Interiors blend modern luxury with touches of Melbourne’s edgy character. The Preston Partnership in Atlanta joined the design team.
Condo units emphasize light-filled, open floorplans and connected living, with automated, smart features and unique upgrades such as Obi, a device that converts a bed into a desk or sofa. Douglas Elliman Texas is partnering with Caydon on marketing the residences.
Caydon has a track record of mixed-use developments. Last year the company completed Mason Square in Melbourne, a multifaceted project with 1,300 condos, retail, office space and a boutique short-stay hotel. Caydon is also redeveloping a four-acre industrial site into the Malt District in Melbourne and has projects underway in Seattle and San Diego.
The Movement That Is Midtown
Caydon plans for additional high-rise phases in Midtown are possible in coming years. The developer retains three adjacent parcels for future development, Alexander said. Decisions about those sites will depend on post-COVID market conditions, sales performance at Fitzroy, and how the area around The Ion evolves, as Caydon seeks to complement Midtown’s ongoing transformation.
Jan. 20, 2021 Realty News Report Copyright 2021
File: Hybrid Tower Sprouts Upward in Midtown Houston
Rendering: Courtesy Caydon