Fein Unveils Multifamily Development on Prime Post Oak Park Tract
Rendering of the Reverie project to be built inside the Loop.
HOUSTON – A significant new residential development is underway near Post Oak Park and Loop 610 as long-established multifamily developer Martin Fein Interests prepares to start construction.
Fein will break ground next month on a five- and six-story rental community at the northeast corner of Post Oak Park Drive and River Hollow Lane. The 3.4-acre site sits one block east of Loop 610, offering easy access to major Uptown destinations.
The property was purchased from an investment group tied to South Asian investors for more than $19 million. The seller was represented by JLL’s Simmi Jaggi and Elizabeth Clampitt.
Previously, the entire parcel hosted a multifamily complex that has since been demolished to make way for the new project.
The development will deliver 304 apartment units and is designed by Steinberg Dickey Collaborative. Completion is scheduled for the fourth quarter of 2020.
“We are excited to move forward on our new development in Houston’s Uptown neighborhood,” said Daniel Fein, vice president of development for Martin Fein Interests. “We wanted to provide residents with the convenience of living close to the best of what Houston has to offer. Given the project’s proximity to Memorial Park, Uptown Park, the Post Oak Boulevard expansion and Uptown’s premier shopping and dining, we believe we have achieved that goal.”
The community, named Reverie at River Hollow, will include studio, one-, two- and three-bedroom residences ranging from 558 to 1,996 square feet. Interior design is by Dallas-based Moore Design Group.
Equity financing was arranged by Hal Holliday of CBRE, a veteran financier and co-founder of Holliday Fenoglio Fowler. Eagle Realty Group is the equity lender, while construction financing is provided by Comerica Bank and Trustmark Bank.
JLL’s Chris Bergmann represented Martin Fein Interests, which has developed approximately 12,000 apartment units since its founding in 1989. Westchase Construction Ltd., an affiliate of Martin Fein Interests, will serve as the project’s general contractor.
