A Houston-based developer delivered a condo highrise, London House, with nearly all of its units already sold, proving that luxury can go vertical in sprawling Texas metros.Â
Randall Davis Company’s 12-story building at 2323 San Felipe Drive in River Oaks took two years to construct, the Houston Business Journal reported.
The 70,000-square-foot development has 23 units, including four penthouses. Prices range from $1.5 million to $3.8 million. Only two units are still available, according to company founder Randall Davis, who developed the project alongside his daughter, Natalie Davis.
All of the units have gas fireplaces, high-end appliances and cabinetry, 11- to 13-foot ceilings and customizable stone, porcelain and wood finishes. The building also includes a concierge-staffed lobby, resident lounge, dog run and pet-washing station. A four-story garage offers space for rent.
A few luxury condo developers are catering to growing demand for high-rise living across the Texas Triangle, where sprawl means luxury buyers have historically looked for luxury real estate with land.
Davis is targeting buyers who are drawn to small buildings with top-notch amenities, he said.
His next project, The Chaucer, is also 12 stories, set to start construction soon at 2360 Rice Boulevard near Rice Village. The art deco-inspired development will have 29 units and span 75,000 square feet, with a third of units already pre-sold. The Chaucer will feature a brass-accented façade, concierge-staffed lobby, dog park and storage.
The highest tier of the luxury market in Houston has shown resilience, with home sales over $10 million surging by 75 percent to seven million homes in 2023. Affluent neighborhoods like River Oaks and Memorial lead the market for most-expensive home sales. However, the overall luxury segment has faced challenges, with fewer high-end listings compared to previous years, and competition from Dallas, which outpaces other Texas metros at the highest pricing tier.
Other luxury condos under construction in Houston include the St. Regis Residences, a 35-story development set to begin construction next year in the Upper Kirby district. The Ritz-Carlton Residences in the Woodlands will offer 111 units designed by Robert A.M. Stern Architects.
—Rachel Stone
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