HOUSTON – Realty News Report – Madison Marquette, together with investment partner AECOM Capital, celebrated the topping out of a new 30-story, for-rent residential tower on a 1.16-acre site at 3300 Main Street in Houston’s Midtown district.
The building, named The Travis, will contain 328 apartment units and approximately 15,000 square feet of ground-floor retail.
“With this major construction milestone behind us, we remain on schedule for a spring 2020 opening and will open our leasing office in October,” said Bryant Nail, Madison Marquette’s Executive Vice President of Multifamily Development. “We broke ground in May 2018. We’ll have the first 11 floors ready for occupancy the beginning of February and expect to complete the project by the end of May.”
Located adjacent to a METRO rail line, the site is well suited for young professionals, Mayor Sylvester Turner said during remarks at the topping out ceremony. A ceremonial beam signed by event attendees was raised to mark construction progress, and barbecue was served to hundreds of construction workers in celebration.
AECOM Hunt is serving as general contractor for The Travis, which was designed by CallisonRTKL. The building is targeting LEED Gold certification, reflecting its focus on sustainability and energy efficiency.
Financing for the project is provided by Goldman Sachs.
Madison Marquette vice chairman Rick Kirk noted that financing was secured as Houston’s economy recovered from a downturn and a steep fall in oil prices. The financing process began before the 2018 merger of Houston-based PMRG and Washington, D.C.-based Madison Marquette.
The Travis occupies a 1.16-acre block bounded by Main, Travis, Stuart and Francis streets, one block south of Elgin Street in Midtown. The neighborhood has seen substantial new multifamily development from builders such as Camden, Morgan and Caydon.
The block was acquired from the City of Houston in 2015. The city had vacated the property years earlier; the former structures — once used by the city’s permit department and home to a police firing range — have since been demolished to make way for the new tower.
Proximity to the METRO rail line will make commuting convenient for residents, providing easy access to major employment centers across the city.
“The topping out of The Travis signals a turning point for the rapidly growing Midtown neighborhood,” said Timothy D. Haskin, senior managing director of AECOM Capital. “Situated between Downtown Houston and the Texas Medical Center—two of the city’s largest employment districts—the project will offer residents exceptional access to these key job centers.”
Units in The Travis will average about 1,114 square feet. Building amenities will include a two-story fitness center and lounge, plus a roughly three-quarter-acre pool and amenity deck.
The leasing office, located at 3219 Milam Street, is scheduled to open on October 1.
Sept. 11, 2019 Realty News Report. Copyright 2019.
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