Houston (Feb. 11, 2015) – The SkyHouse development partnership has broken ground on SkyHouse Main, a mirror-image of the successful SkyHouse Houston high-rise directly to the south on Main Street in downtown Houston.
The new tower at 1725 Main Street will feature 336 residences and will reach 24 stories, with 7,200 square feet of street-level retail space. The mixed-use project is targeting next- generation professionals who are choosing to live in urban centers close to public trans- portation, employment centers and cultural institutions.
”We are excited to once again join our local partner Peter Dienna and Batson-Cook Development Company as we begin our the second tower in downtown Houston,” said Jim Borders, President and CEO, Novare Group. “The market has responding well to the central business district location, public transit access, rooftop amenity package, and exciting city views of SkyHouse Houston. The next step is the critical mass of residents who will create a great neighborhood, which is the vision of the City of Houston and Central Houston, Inc. We are proud to be a part of that.”
SkyHouse Main apartment homes will have floor-to-ceiling glass and nine-foot plus ceiling heights with high-end finishes, including stainless steel appliances, granite counter tops, wood floors, expansive balconies and high speed internet. The market-leading amenity package includes the signature SkyHouse on the top floor including a club room, fitness center, pool, and grilling area, with unimpeded views of much of Houston.
The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. The project will be steps from the Bell Station Metrorail stop, providing residents with excellent access via public transportation to the surrounding areas including a short ride to the Texas Medical Center, the largest medical center in the world and a large economic driver within the Houston metro.
The innovation of the SkyHouse program lies in the experienced team lead by Jim Borders and Novare Group with co-sponsor Batson-Cook Development Company, local development partner Peter W. Dienna, general contractor Batson-Cook Construction Company and architectural firm Smallwood, Reynolds, Stewart, Stewart.
SkyHouse Main is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The program represents more than $1 billion in new construction since its inception in 2012. The project will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. Equity financing is being provided by Batson-Cook Development Company, and debt financing is being provided by Sumitomo Mitsui Banking Corporation. It is expected to be delivered in early 2016.
About Novare Group
Novare Group is a real estate development and investment company headquartered in At- lanta, Georgia, consisting of several investment and operating companies, including Novare Group Holdings, LLC, NGI Investments, LLC, Novare Events, LLC, HomeOwners Advan- tage, LLC, and TWELVE Hotels and Residences, LLC. Since 1995, Novare Group has developed over 11,000 high-rise residences in 35 buildings in the United States. Learn more by visiting www.novaregroup.com.
About Batson-Cook Development Co.
Founded in 1963, Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the South- eastern United States. Based in Atlanta, Georgia Batson-Cook Development Company of- fers a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting www.batsoncookdev.com.
About Peter W. Dienna
Peter W. Dienna of DNA Partners, Ltd, provides development and project management ser- vices for all types of commercial real estate, including corporate office buildings and interior build-out of corporate office space. Since 1981, Dienna’s companies have completed 94 projects totaling more than 9.5 million square feet, with a value of almost $750 million dol-lars.