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Longtime Houston developer Randall Davis has acquired a half-acre site at 3723 Westheimer Road in Houston. The plan is to construct a high-rise luxury condominium near Post Oak Park, according to the Houston Business Journal.
JLL’s Mark Raines and Matt Parsons negotiated the sale on behalf of the seller, Ascot Meadow LLC, and JLL's Chip Nash represented the buyer.
"Houston is poised to see significant growth as one of the healthiest and most active markets in the US,” Raines said in a release. “Developers are eager to secure new opportunities to stay ahead of growing demand thanks to our strong economic fundamentals and our region’s continued growth.”
Randall Davis recently completed the Arabella, a 99-unit, 33-story luxury residential tower at 4521 San Felipe St. The project includes private terrace-top swimming pools in most penthouses.
As Houston's urban core continues to densify and the evolution of condo style, design and luxuriousness intensifies, condo developers expect interest from Houstonians to pick up. Some have said the current development pipeline doesn't support the current or future need, and they argue for more supply.
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