The city of Houston’s first Ritz-Carlton residences will be the second in the metro.
A 44-story Ritz-Carlton Hotel & Residences is planned for 2120 Post Oak Boulevard, marking another major entry in the city’s race for branded luxury condos.
Development firm Deiso Moss and Cleary Interests are teaming with Marriott International on the project, Bisnow reported. It will feature 154 hotel rooms, 114 condos starting at 2,200 square feet and a suite of perks, including 27,000 square feet of owner-only amenities and access to another 50,000 square feet in the hotel. Pricing has not been disclosed.
The project revives a delayed proposal from Deiso Moss for a 43-story mixed-use tower on the same site. A sales center is nearly complete. Deiso Moss secured a bridge loan from Northwind Group for $26.1 million in 2022 before the project stalled out.
Architecture firms Pickard Chilton and Ziegler Cooper are leading design, with interiors by Rottet Studio and construction by Harvey Cleary. Redeavor Group is handling marketing, with private previews expected later this year.
Howard Hughes Holdings’ Ritz-Carlton development in The Woodlands is already raising the bar for condo prices in the metro.That development, on 8 acres overlooking Lake Woodlands, was more than 70 percent sold within its first year, with prices topping $1,500 per square foot and generating about $330 million in revenue, according to the developer.
Luxury flags are finding traction in Houston’s condo market, long seen as less mature than coastal peers. Developers are leaning into brand cachet to target affluent downsizers and international buyers. Transwestern is planning Auberge-branded condos at The RO, while Satya is pushing ahead with a St. Regis-branded residential tower near Memorial Drive that was more than 40 percent pre-sold as of March.
Jeff Samples with IBC Bank, which financed the St. Regis project, said the branded condo wave is a bet on Houston’s growing wealth base. Earlier this year he said aging baby boomers downsizing out of their River Oaks estates might be considering staying in a central locale.
— Eric Weilbacher
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