EXCLUSIVE: Stream Breaks Ground On First Class-A Project In Hedwig Village In 30 Years
Hedwig Village, one of Houston's most affluent neighborhoods, will get its first new office development in over 30 years.
The five-story, 102K SF Class-A medical office building broke ground 65% pre-leased. Memorial Plastic Surgery and Texas ENT Specialists will anchor the asset, occupying roughly 45K SF between them. The asset will have a six-story parking garage with over 400 spaces. Construction is expected to be completed by Q1 2019.
"The whole project started out as a traditional office, but the demand we saw from doctors and clinics was robust. We wanted to capture that demand," Stream Vice President Richard Barbles said.
Barbles said the demand is being generated by doctors and clinics wanting to be closer to their patients. With affluent neighborhoods like Hunters Creek, Piney Point and Memorial Villages close by, the location in Hedwig Village is appealing to practices that want to get out of tightly packed medical centers.
“We are very excited to announce our expansion into a new office at Hedwig Place. This larger space allows us to continue providing exceptional care to our patients in a comfortable and safe environment," Memorial Plastic Surgery founder Dr. Patrick Hsu said.
Stream Realty Partners is developing the property with AMD Global.